Technical Analysis

US 5 year yield moves higher The US 5-year yield is trading at 4.02% up 10.3 basis points on the day. The high yield reached 4.024%. That extended above the May 2023 high of 3.99% and took the yield to the highest level since March 9. The low yield today was down at 3.818% after

USDCHF sloppy trading has settled between swing areas. The USDCHF is lower on the day retracing most of the gains seen yesterday when the CHF was the weakest of the major currencies (higher USDCHF). The move higher yesterday stalled near the swing highs from Thursday and Friday of last week (see chart above). The high

The recent positive surprise in the non-farm payrolls (NFP) data, followed by concerning factors such as a higher unemployment rate and reduced average weekly hours, has had a detrimental impact on the USD. Market sentiment has shifted towards a less optimistic stance, as investors recalibrate their previously hawkish expectations in light of a more relaxed

WTI crude oil futures are settling at $67.12. That is down $3.05 or -4.35%.The price low today reached $66.80. The high was at $70.33. Looking at the 4-hour chart below, the low price today extended below the low from May 31 at $67.03. That was the lowest level since May 4 when the price plunged

USDCHF bases near the 100 hour MA and races higher The USDCHF is up about 0.66% today, trading in the current hourly bar to a new session high at 0.91013. The moves is short of the high from Wednesday and Thursday near 0.91069 and also the important 100-day MA at 0.91173. The price did move

In this insightful look back at our January forecast for the E-mini S&P 500 futures, we find ourselves on the brink of reaching the much-anticipated 4400 level. This article will elucidate the pivotal factors that have contributed to this imminent achievement and offer an in-depth technical analysis of prospective market trends. Key Factors to Consider

The NZDUSD moved higher today based on the lows against a swing area near the 0.60829 level before moving to the upside and breaking outside of what has been an up-and-down trading range until today (largely under the 0.6100 level). The move to the upside today did extend the range for the week and moved

EURUSD falls to the swing area In an earlier post, I spoke to the selling seen in the EURGBP. It is tumbling lower today and as such, that tail is wagging the dog. Putting it another way, the EURGBP is influencing the price action in the EURUSD today. At the start of the New York

EURGBP falls to the lowest level since August 2022 The EURGBP is tumbling lower in trading today. The price is currently down -0.47%, and in the process took out the lows from early June at 0.85667. The pair is also below swing lows from December 2022 between 0.8546 and 0.8559. The low price just reached

S&P test sets key upside targets The S&P index moved up to a high of 4322.62 today. That high price move between the 61.8% retracement of the move down from the January 2022 high to the low reached in October 2022 at 4311.11, and the swing high going back to August 2022 at 4225.28. The

USDCAD retests the lows from May The USDCAD spiked higher after the weaker-than-expected jobs report this morning. The price which tested its low from early May at 1.33132 in the late European session (the low reached 1.33157), moved up to a high of 1.33688. That high tested the Asian session high at 1.33705. Sellers leaned

The AUDUSD corrected in the early Asian session after the sharp move higher yesterday took the price above the 200 day moving average and a retest of the high price from Wednesday. The move to the downside in the Asian session took the price down to retest the 200 day moving average at 0.66905. Support

The GBPUSD moved lower into the early European session and in the process retested a swing area between 1.25367 and 1.25474 along with the 61.8% retracement of the May trading range at 1.2537. The price briefly moved below that level but could not find follow-through selling and quickly rotated back higher. Sellers turn the buyers

EURJPY buyers are holding onto control technically During the Asian and early European session, the EURJPY witnessed a decrease, with the movement dropping below the 200-hour MA (green line). The noteworthy part here is that yesterday’s price lows rebounded from the 200-hour MA, but just below was the 50% retracement of the uptrend from last

USDCAD down on the day but mixed signals The USDCAD is currently experiencing a dip in its trading value, with the lowest price point registered during early European trading hours. However, this decline halted at the same low point observed on May 10 and did not manage to reach the lowest price witnessed after the

The AUDUSD is up testing the high from yesterday’s trading at 0.6717. The high price just reached 0.67149 after breaking back above its 200-day moving average of 0.66907. AUDUSD retests the high from yesterday Recall from yesterday, the price action continued its run to the upside after the surprise rate hike on Tuesday but failed

USDCHF stalls near cluster of swing levels and trendline The USDCHF is having another up-and-down trading day today with the price trading above and below its near converged 100 and 200-hour moving averages (near 0. 9070). The early US sessions saw the price moving low but was then boosted after the Bank of Canada rate

WTI crude oil futures tested a cluster of support near $71 WTI crude oil futures are settling higher on the day. The prices settled at $72.53, up $0.79 or 1.10%. The high price reached $73.19. The low price was at $71.01. Looking at the hourly chart, at session lows, the price was dipping just below

The NZDUSD is moving lower after an earlier move higher in the early New York session ran out of steam. The high price reached the high of a swing area between 0.60829 and 0.60949. The subsequent fall took the price back below the 100-hour moving average of 0.60703 and the 200-hour moving average of 0.60532.

Since the China reopening rumours/news back in November 2022, Copper has been rallying strongly as the market expected more demand for the metal considering also that China is the world’s largest copper importer and consumer. Those expectations started to ebb as China’s factory recovery kept on disappointing and China’s copper imports even fell in the

The USDCHF is mired in a up-and-down type of market environment. The downside, there is decent support near 0.9025 and 0.9035 (a red numbered circles). USDCHF between the 100 and 200 hour moving averages On the topside, price action over last 5 trading days comes between 0.9113 and 0.9119 (see blue numbered circles). There had

AUDUSD trades between the 50% and the 200 day MA The AUDUSD has bounced back to the upside after early US session dollar buying pushed the pair back toward the 50% midpoint of the major trading range. The low price in the US session reached 0.66416 which was within 4 pips of the midpoint level.

Apple shares are down around $1.45 or -0.82% $179.43 after their WWDC23 event where they introduce the Vision Pro VR product. At $3499 and available only in the US at the start of 2024, it’s got a long way to go. Unity Software Nevertheless, a beneficiary today has been Unity Software (U) whom Apple cited

The price of WTI crude futures are selling at $72.15. That is up $0.41 or 0.57%. The high price reached $75.06. The low price was at $72.02. The gains from the weekend Saudi Arabia production cut were erased. Looking at the daily chart, the high price today extended toward the falling 100 day moving average.

The U.S. SEC has filed 13 charges against Binance, the largest global cryptocurrency exchange, and its founder, Changpeng Zhao. Binance is the largest crypto exchange. Binance is accused of mishandling customer funds, lying to regulators, and misleading investors about its operational safeguards. The SEC alleges that Binance mixed billions of dollars in customer funds and

The importance of price movement dynamics Understanding the dynamics of price movements in financial markets is a must for every trader. With the right tools, this process can be more straightforward and effective. A well-known tool for this is the Regression Channel, which can be more powerful when used with other technical analysis tools like

As we continue to explore the financial landscape of 2023, the spotlight remains firmly on the S&P 500. In this condensed follow-up to our previous analysis, we’ll take a unique approach to predicting this market’s trajectory, focusing specifically on the 4400 key level. Revisiting Our Previous Forecast In our earlier article, we delved into an

Greg Michalowski of Forexlive.com takes a deep into the technicals defining the bias, risk and key targets for the EURUSD heading into the new trading week starting June 5, 2023. In the report, he looks at the daily chart and then drills into the hourly chart. Get your week started on the right foot by

The buyers in the NZDUSD tried to break higher on Friday, moving above a key 200 hour MA on the hourly chart and swing level on the daily chart. However, momentum failed and the price rotated lower. Prior to the rally on Thursday and Friday, the price did break below the 50% midpoint of the

The GBPUSD moved higher into the jobs report on Friday, but fell as yields moved higher and so did the USD. The GBPUSD fell to a support level on the hourly chart, but maintained hope for more upside from the look from the daily chart. Monday should give traders some technical clues on who might