Technical Analysis

The up and down chop this week in the some of the major currency pairs, has some traders frustrated (when you think it is going down it goes up and visa versa), and some traders happy (the up and down range traders). The EURUSD and GBPUSD is non trending. The USDJPY is trying to reverse

Th major US stock indices are rotating lower. The S&P index is traded to a new session low. The NASDAQ is also now breaking below the low from the 1st hour of trading today. Looking at the hourly chart of the S&P index the price is testing a upward sloping trend line. A move below

WTI crude oil stalled against its 100 day moving average WTI crude oil futures settle at $77.29, declining by $1.87 or 2.36%. Throughout the day, prices fluctuated between a low of $76.97 and a high of $79.07. Examining the daily chart, the low price narrowly missed its 100-day moving average (MA) by $0.14, settling at

USDCHF falls to the low from Monday The USD selling has the USDCHF moving to a new session low at 0.89195. The price also dipped to a new week low taking out the Monday low at 0.89213, but only by a few pips. The price has pushed back up to 0.89294 currently, but if the

The AUDUSD is consolidating with the lows and highs – along with technical levels – starting to converge. When that happens, it is time to anticipate a break and hopefully a run in the direction of the break. In this video, I outline what I mean and what levels are key going forward.

After the close, Tesla will announce her earnings for the 1st quarter: EPS is expected $0.85 Revenues are expected $23.21 billion according to Refinitiv estimates Analysts are in addition to the earnings will be paying close attention to margins. Today Tesla cut prices on its vehicles for the 6 that time since the end of

GBPUSD trades up and down The GBPUSD market experienced significant fluctuations today. During the Asian trading session, the 200-hour moving average (represented by the green line in the chart above) acted as a resistance level, causing the price to rotate down toward a swing area between 1.2388 and 1.23974. The UK’s CPI data exceeded expectations,

USDCAD moves to a new high but 200 day MA looms USDCAD buyers are currently pushing the price higher, with resistance encountered near the 38.2% Fibonacci retracement level of 1.33963, which is just below the 200-day moving average at 1.3400. In the past 4 hours, the lowest trading price reached 1.3381, while the highest was

WTI crude oil futures are settling at $80.86, up $0.03 or 0.04%.. The high reach $81.52. Low extended to $79.91. WTI crude oil futures below 200 hour moving average Looking at the hourly chart above, the price high tried to get above the 200 hour moving average but could not sustain momentum. That moving average

The USDCHF moved above the 100 hour moving average but remains below the falling 200 hour moving average. Buyers and sellers are battling it out between the moving averages. For the EURCHF, it has the 100 hour moving average in 200 day moving average converged at 0.9827. That will be a key barometer for traders

EURUSD sees a modest rebound off lows The EURUSD is seeing a modest move to the upside as stocks rebound, and so is the EURUSD. The EURUSD sold off fairly hard in the NY session moving from 1.09837 which was just below the 100 hour MA. That hold under that MA kept the sellers in

2 year yield is still way down from 2023 cycle high. The two-year note is trading near highs for the day. The current yield is at 4.194% up 9.1 basis points. The high yield reached 4.207%. The move above 4.20% today was the first since March 22. The low yield for the month came on

USDCAD moves up to test key swing area Although currency markets remain relatively quiet today, the USDCAD has climbed to a new session high. The current low-to-high trading range is a modest 49 pips, compared to the 80-pip average over the past 22 trading days (approximately one month). A break to a new high could

In this article, we will explore wheat futures technical analysis and provide a price forecast based on current market trends. We’ll also discuss potential trading strategies and risk management for those interested in wheat-related assets. Wheat futures breakout of an ascending wedge on the 4-hour time frame Next probable target: 700 round number Potential retest

In this video, I look at the recent S&P 500 technical analysis and provide a price forecast based on the findings (spoiler: IMHO, we are headed to 4200). A surprising selloff occurred following a rally on Friday, and we’ll explore the reasons behind it while considering possible future price movements. Key Points within the S&P

Gold falls below 100/200 hour MA The price of gold has tumbled today with the sharp rise in the USD today. The price moved down -$47.68 at session lows today. The price is currently down -$32.74 which is still down -1.60%. The current price is at $2007.40. The low reached $1992.59. Looking at the hourly

Crude oil settles higher on the week The price of crude futures settled up $0.36 at $82.52. The high price reached $83.12. The low price reached $81.76. The price this week moved up $1.82 or 2.24% The high price this week reached $83.53 reached on Wednesday. That happens to be the falling 200 day moving

EURUSD stalled between cluster of swing area The EURUSD selling continued into the morning session and in the process moved into a swing area defined by the 100 hour MA at 1.09664, and the 38.2% up at 1.09818. In between was the high from last week at 1.09728.. The low stalled at 1.09717 right near

GBPUSD falls to trendline support In a previous post on the GBPUSD, we discussed the breaking of the converged 100/200 moving averages and the swing area down to 1.24208 in GBPUSD . A further decline would target the upward sloping trendline and Wednesday’s low near 1.23974. Currently, the pair is testing this low and the

USDCHF moves to the 38.2% retracement Yesterday, the USDCHF was trending lower, with the pair down by 1.82% for the week, marking its most significant decline since the week of November 7. Examining the hourly chart, the price had fallen below a downward sloping trendline, and I suggested that the price needed to rise above

The major European indices are closing higher on the day. A snapshot of the closes shows: German DAX +0.5% Frances CAC +0.52% UK’s FTSE 100 +0.36% Spain’s Ibex +0.57% Italy’s FTSE MIB +0.89% The France’s CAC closed at a new record high for the fourth consecutive day. France’s CAC closes at a new record this

The strongest to the weakest of the major currencies As the North American session begins the EUR is the strongest and the GBP is the weakest. The major currencies are relatively scrunched together. The USD is mixed with modest gains of 0.21% vs the GBP and NZD leading the way up and the EUR and

USDCHF has its worst week since November 2022 The USDCHF is down -1.82% this week or -165 pips. That is the biggest move lower in the pair since the week of November 7 when the pair fell -5.3%. The decline this week would be the 4th week in a row lower. That 4 week run

WTI crude oil tested 200 day MA and found willing sellers The price of WTI crude futures are selling at $82.16. That’s down $1.10 or -1.32% on the day. The high price reached $83.44. The low price extended to $82.24. The high price today installed about $0.23 short of the following 200 day moving average

On the daily chart below for XTIUSD, we can see that the price is now threatening a major breakout of the range. The market has been stuck in this range since December 2022. We got a breakdown in mid-March as the market feared an immediate recession due to the little banking crisis after the Silicon

NASDAQ index cracks below its 100 hour moving average The NASDAQ index is trading at new session lows, with the price reaching 11935.04. The current price stands at 11936.80, down -96 points or -0.80%. Technically, the decline has pushed the index below its rising 100-hour moving average, currently at 11961.50. This marks the first time

WTI crude oil futures moved toward its 200 day MA The price of WTI crude oil is settling at $83.26. That’s up $1.73 or 2.12%. The close is the highest close since we were 16th 2022. The price moved above the 2023 high at $82.66 going back to January 18 and the December 1 high

On the daily chart below for USDCAD, we can see that after breaking the strong support at 1.3664, the pair just melted for hundreds of pips. We got a bounce recently as bad US data started to give the market recession vibes and the US Dollar is the go-to currency in case a recession unfolds.

USDCAD moves to a new intraday low The USDCAD ticks to a new low less than 24 hours until the BOC rate decision at 10 AM ET tomorrow. The central bank is expected to keep rates unchanged with a 10% chance of a 25 basis point hike. For most of the North American session, the

US yields are moving higher and it is leading to a back to the upside in the US dollar: 2 year yield is at 4.064% up 5.6 basis points. 5year yield is at 3.566% up 4.7 basis points 10 year yield is at 3.448% up 3.4 basis points 30 year yield is at 3.635% up