Technical Analysis

US: The Fed left interest rates unchanged as expected at the last meeting. The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts projected in 2024. Fed Chair Powell reaffirmed their data dependency but added that

As US yields rise, the 2-year yield is up by 12 basis points at 5.218%, and the 10-year yield is up by 13.7 basis points at 4.846%, both on track to close at their highest levels since 2007. Despite the USDJPY’s recent upward movement, traders appear hesitant to approach the 150.00 level. The currency pair

The AUDUSD initially moved higher during the Asian and European trading sessions but encountered resistance at its 200-hour moving average and the 50% midpoint of last week’s trading range, around the 0.6366 level. This resistance zone was tested twice. Later, during the early North American session, US retail sales data pushed the price lower, testing

US: The Fed left interest rates unchanged as expected at the last meeting. The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts projected in 2024. Fed Chair Powell reaffirmed their data dependency but added that

As the day moves toward the close in the North American session, and traders look toward the start of the Asia-Pacific session, both the EURUSD and the GBPUSD are moving above their 200-hour moving averages. Not far away are the 38.2% retracement and 100-hour moving averages for each. So both pairs are looking toward that

The USDCAD has moved modestly lower to start the trading week, and in the process is testing a swing area on the 4-hour chart between 1.3600 and 1.36125. Also, on the way on the downside is the rising 100-hour moving average at 1.3597, and its 200-bar moving average at 1.3576. Recall that the 200-bar moving

Last Friday, the market sold off as the University of Michigan Consumer Sentiment report saw a big miss across the board with the inflation expectations figures spiking back up. This might be a signal that the consumers are indeed weakening, and it could be a bad omen for the broad market. Moreover, we got some

NZD/USD has popped a few points in the early hours here on Monday with only New Zealand markets underway: The marking higher of the kiwi $ is a market dynamics move rather than an important shift in fundamentals. If you think the new government will solve all the problems the NZ economy is facing and

In this video, I outline the key technical levels in play for the EURUSD as we end one week, and look to the next. The bias is more to the downside, thanks to a run higher in the USD on Thursday in Friday. Today, the price moved into a swing area between 1.0483 and 1.0500.

The GBPUSD is trading to a new low for the day and the week, and in the process is in closer to a swing area between 1.2105 and 1.2111. Moving below that level and the 38.2% retracement of the move up from the September 2022 low comes into focus at 1.2076 followed by the low

Crude oil prices surge today The price of WTI crude oil is extending above the $87 level to a high of $87.37. Oil prices have surged today following the U.S.’s enhancement of sanctions against Russian crude exports, amplifying supply anxieties in an already constrained market. The U.S. targeted tankers carrying Russian oil priced above the

GBPJPY tests/breaks below 100 day MA Looking at the daily chart, the 100 day moving average currently comes in at 181.64. The price has just dipped below that level and currently trades at 181.57. Admittedly, earlier this month, the price fell below the moving average level for the 1st time since March 2023, but could

The AUDUSD is falling to a new session low, and in the process is looking toward the October low at 0.62849. That was also the lowest level going back to early November 2022 (nearly 1 year ago). In trading yesterday, the price fell sharply on US dollar buying after the higher than expected CPI and

EURUSD reaches the high of swing area target The EURUSD has moved down to a new low and in the process has reached the high of a swing area between 1.0483 and 1.0500. The low price has reached 1.0496 so far. The swing area is home to a number of different swing lows going back

Have you ever wondered what technical traders look to do? If you are even mildly interested in that challenge, then watch this video on the USDCHF. It’ll take less than 3 minutes of your time. It is not hard, but it will make you a better trader. Like and share too….Subscribe and start learning.

The US CPI data this morning pushed the dollar higher, AND now the crummy 30-year bond auction has exasperated the push higher in the greenback sending major currency pairs against the US dollar through technical levels in the process. Bond yields are higher. Stocks are lower. In this video, I look at some of the

The NZDUSD has fallen to moving average support after the stronger-than-expected US CPI data. The NZDUSD and the AUDUSD are battling each other for the biggest mover vs the greenback with a move of about 1.2%. That move (to the downside) has now seen the pair approach the 200 bar MA on the 4-hour chart

Kickstart your forex trading on October 12 with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD. EURUSD: The EURUSD has moved lower after the stronger-than-expected CPI data and in the process the price move below its 100-hour moving average at 1.0585. The price did stall at the broken 38.2% retracement of

The price of WTI crude futures are settling at $83.49. That’s down $-2.48 or -2.88%. The low price today reached $83.17. The high price was at $86.48. Crude all tests key swing area Technically looking at the daily chart above, the price moved back into a key swing area between $82.35 and $83.32. However, the

AUDUSD moves to the high of the neutral technical area The AUDUSD has traded to a new low and in the process has moved to the high of a neutral area with the: 200-hour moving average of 0.6373 at the low (green line in the chart above), and the 100-hour moving average of 0.63904 at

Kickstart your forex trading with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD. EURUSD: The EURUSD traded up and down in the Asian and European morning session and then moved lower after the insured expected PPI. Over the price has rebounded since then and currently trades just below the 50% midpoint

USDJPY trades back below the 100 hour MA. Bearish. The USDJPY moved higher into the US session today, and in the process moved between the 100-hour MA (blue line at 148.83) and the 200-hour MA (green line at 149.129). The high price reached 149.09 which was just above the broken 38.2% at 149.069. The inability

The GBPUSD is trading to a new high going back to September 22, and in the process is stretching toward its 50% midpoint of the move down from the September 11 high. That level comes in at 1.22919. Getting above that level increases the bullish bias from a technical perspective. The move to the upside

Kickstart your forex trading with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD. EURUSD: The EURUSD continued its move to the upside after stalling the fall yesterday ahead of the 100-hour MA. That move made it to a key technical swing area and retracement at the 1.0606 to 1.0616 area on

Last Friday, the Nasdaq Composite rallied following the big beat in the NFP report as the market continues to bet on the soft-landing scenario. Yesterday, the index opened lower following the outbreak of the war in Israel but bounced back soon after and closed higher as the events in the Middle East are unlikely to

The strongest to the weakest of the major currencies The EUR is the strongest and the JPY is the weakest as the North American session begins. The USD is mixed with the USDJPY the biggest mover vs the greenback (+0.40%). The USD is lower vs the EUR and the GBP to start the US trading

US: The Fed left interest rates unchanged as expected at the last meeting. The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the year with less rate cuts in 2024.

In this video, I outline the risks and targets in the USDCH as we work toward the close for the week, and the look ahead to the new trading week. What is the bias? What are the targets? What is the risk? What did the price action today and this week tell us technically about

In this video, I outline the risks and targets in the USDCAD as we work toward the close for the current week, and the look ahead to the new trading week starting October 9, 2023. What is the bias? What are the targets? What is the risk? What did the price action today and this

In this video, I outline the risks and targets in the USDJPY as we work toward the close for the week, and the look ahead to the new trading week. What is the bias? What are the targets? What is the risk? What did the price action today and this week tell us technically about