Technical Analysis

The GBPUSD traded to new lows going back to November 2023 on Monday, but fell short of downside targets on the daily chart at 1.2039 to 1.20686. The low reached just below the 1.2100 level at 1.20989. The price bounced but quite frankly the price action was sloppy and misbehaving to the technicals for the

The EURUSD bottomed this week on Monday after falling below the 61.8% of the move up from the 2022 low to the 2023 high at 1.0200. That break could not be sustained. The seller had their shot. They missed. The subsequent move higher saw the pair peak near the 38.2% of the move down from

The USDJPY last week, moved up to test a key target on the daily chart near 158.88. Sellers leaned and pushed the price off those levels into the close a week ago today. This week, the price of the USDJPY has stepped lower after peaking on Tuesday near the high of a swing area at

The USDCAD moved higher in the North American session and in doing so, stretched to the high of a “Red Box”: that has confined the pair going back to mid-December (see chart below). That level comes in at 1.44666. The high price stalled just short of that level at 1.44635. Conversely, earlier this week, the

Russell 2000 Index Futures: Trade Compass – January 17, 2025 Current Price: 2290 The TradeCompass simplifies decision-making by mapping out key bullish and bearish thresholds for the Russell 2000 Index Futures. Today’s analysis highlights the index breaking above the value area high of the last three sessions, suggesting bullish momentum as long as price sustains

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

THe USDCHF felll sharply after yesterday’s US CPI and in the process fell below its 200 hour moving average (green line on the chart below currently at 0.9119). However, the momentum could not be sustained, and a snapback rally ensued with the price moving back to and through the 200-hour moving average and up to

Fundamental Overview The Nasdaq has been rallying steadily this week thanks to positive news both on the tariffs and inflation front. On Monday, we got a news from Bloomberg that the Trump’s team was studying gradual tariffs hikes. On Tuesday, we got a very soft US PPI report and yesterday lower than expected US Core

The price of WTI crude oil is up $3.05 at $80.55. The high price today reached $80.73. The low was at $77.26 settle price was at $80.04. Buying has continued after the settlement. Looking at the 4-hour chart, the price highs has entered into a swing area between $80.17 and $80.57. The price is testing

The USDCHF broke lower after the US CPI data. Although yields moved lower in the US and remain down, they also moved lower in Europe. The dynamic saw the technicals switch from being more dollar bearish to more dollars bullish. Looking at the USDCHF, the price fell below its 200-hour moving average (green line on

Fundamental Overview The USD is weaker across the board following the soft US PPI report yesterday. The market pricing is now showing a total of 31 bps of easing by year end compared to 24 bps before the PPI. The focus remains on the US CPI report today. A hot report will likely cause some

The EURUSD is moving back hgiher and is retesting its 200 hour moving average. Recall from earlier today, the price moved up to the 200-hour moving average and found willing sellers near the level. The price rotated back to the downside stalling ahead of its 100-hour moving average at 1.0268. The low price could only

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

TradeCompass: Ethereum Futures Analysis – 14 January 2025 Financial Instrument: Ethereum Futures (ETH Futures) Price at the Time of Analysis: 3240 Key Levels and Trade Scenarios for Ethereum Futures Today Bullish Above: 3315 Why Bullish Above:If Ethereum futures rise above 3315, they will break above the Value Area Low (VAL) of January 10. This move

Gold is trading up and down since taking it’s last run higher from September that saw the precious metal summit at $2790.07 on October 30. Since, then there was a Correction down to early/mid September lows at $2535 area, A couple of high at $2721.41, and A higher low at $2584.63 The price moved higher

The 10-year yield has moved up seven of the last nine trading days. During that time, the yield has moved from a low of 4.51% to the current yield at 4.780%. Prior to that move, the yield had moved up from a December 6 low of 4.126%. Since mid-September, the yield is up from 3.60%.

Fundamental Overview The USD got another boost on Friday following the NFP report as the data beat expectations by a big margin almost across the board. The market scaled back the rate cuts expectations further with now just one cut expected by the end of the year. The focus remains on inflation and this week

Crude oil is settling at $76.57 per barrel, up $2.65 or 3.56%. The price reached a 3- month high today. New U.S. sanctions targeting Russia’s oil exports helped to contribute to the rise. The Biden administration imposed sanctions on Russian oil producers Gazprom Neft and Surgutneftegas, their subsidiaries, over 180 vessels, oil traders, oilfield service

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The USDCAD fell initially after the US and Canadian jobs reports both of came out stronger than expected. However, after the focus returned to the effect on the US dollar, that helped to reverse the USDCAD pair back to the upside. The price is now extending to a new high and in doing so is

The NZDUSD has stretched lower in trading today as the pair is hit on “risk off” flows as well as higher rates.The currency pair is down around -0.70% and the biggest mover vs the USD today. Technically, the price is stretching closer to the 2022 low which reached 0.55105. The low price today has reached

The NASDAQ index moved to a low of 19143.64. That was down over 300 points on the day and in the process has moved within a swing area defined by recent swing lows of swing highs between 19119 and 19208 . A move below that area would open the door for further selling technically (see

The USDJPY has been trading within a swing area between 157.66 and 158.86. Looking at the daily chart today, the low price came in just below the low of the swing area and 157.62. The high price reached just above the high of the swing area at 158.86. The swing area is wide but traders

The US jobs report came in stronger than expectations and that has led to yields moving sharply higher. The year is up 9.0 basis points they 10-year is up 8.6 basis points. For the EURUSD it fell to a new low going back to November 2022. The low price reached 1.0212. The 61.8% retracement of

The AUDUSD is breaking below the 2022 and 2024 lows. On the last day of the trading year, the price moved to a low of 0.61785. That was just above October 2022 low and 0.6170. Yesterday, the price moved to 0.6171 but once again found support buyers. Breaking below those level opens the door for

Fundamental Overview The Russell 2000 has been consolidating around the lows after the quick drop following the FOMC decision in December as the market perceived it as more hawkish than expected. The Fed continues to place a great deal on inflation progress to proceed with further rate cuts as highlighted by Fed’s Waller this week.

The USDCAD sellers had a shot earlier this week with breaks outside an up-and-down “Red Box” to the downside. The first move was on Monday. The 2nd on Tuesday. Each failed on the break The sellers had their shot. They missed. The price rise saw the pair’s price move above the 100 and 200 hour

The USDCHF is trading in a narrow range today (only 33 pips). However, the buyers remain in control after the bounce off support on Monday and gains over the last few days. The price had moved back into a swing area on the daily chart between 0.9112 and 0.9156. That area will need to be

The EURGBP has seen a run higher despite a sharp rise in the UK 10 year yield which saw the yield move to the highest level since 2008. The yield reached 4.821% today rising above the 2023 high of 4.755% in the process. The yield is currently at 4.813%. Although higher yield can be supportive

Crude oil extended higher in trading today reaching the highest level going back to October 11. However the move to the upside did run into overhead resistance. The 200 day moving average (green line in the chart above) comes in at $75.25. The high price today reached $75.26. Sellers leaned against the moving average and