Technical Analysis

NZDUSD close above the 100 day MA on Friday. Not today. The NZDUSD closed above it’s 100 day MA on Friday (blue line in the chart above). The MA was at 0.6260. The close was at 0.62636 just a few pips above the MA level. The buyers had tried to move above that moving average

GBPUSD moves into a swing area. Will traders lean? The GBPUSD has moved into a topside swing area in the 1.22608 to 1.22823 area. Looking at the 4-hour chart, there have been a number of swing lows and swing highs (see red numbered circles) including the swing high from mid- February (the last time the

USDJPY moves off swing area and bounces The USDJPY fell earlier in the day, as flow of funds moved into the relative safety of the JPY . Stocks and rates in the US were also lower contributing to the declines in the USDJPY. USDJPY gets a boost Stocks started to rebound, as did yields. Both

While the expectations for the Fed was turned upside down, the Fed was in a quiet period, where not a word was said. On Wednesday, the Fed will be ready to speak when they announce their rate decision. Has the market gone too far, during the Feds silence? Much will depend on if the Fed

First things first, what’s the deal with the rate hike? Well, investors are split on whether the Fed will implement a quarter-point hike or hit pause. The bond market gives a 65% probability to a quarter-point boost that will raise the Fed’s policy rate to 4.75%-5%. Traders have slashed the odds of a hike, but

EUSUSD closing higher on the week IN trading today, the EURUSD moved higher in the Asian session, fell in the European morning session , and is moving higher in the US session. The move has taken the price positive on the week (it closed at 1.0636 last Friday). Ironically, the close from last week is

JPY is the strongest and the CAD is the weakest. The JPY is the strongest and the CAD is the weakest currency today. That has the CADJPY as the biggest mover. Looking at the currency rankings above, the CADJPY has moved 1.44%. That is just ahead of the USDJPY which has moved 1.40% today. The

Crude oil keeps on testing the 200 week moving average The price of WTI crude futures reached a new week low of $65.38. That took out the low from earlier this week at $65.65. Looking at the weekly chart, the price also move below its 200 week moving average at $66.14. However the price has

The major European stock indices are closing the day with sharp declines. For the trading week the indices are also lower as concerns about financial conditions in Switzerland hurt sentiment. Concerns about global growth are also weighing as is the ECB 50 basis point hike this week. Finally, the European indices have been relatively stronger

NZDUSD moves to cluster of resistance The NZDUSD got a kick higher earlier in the day after the Bank of China announced that they would lower the reserve requirement. Technically the price moved above its 100 hour moving average (blue line in the chart above) and found additional momentum to the upside. The initial high

USDJPY falls toward low from yesterday The USDJPY buyers had a shot late yesterday and early today, when the price briefly moved above its 100 hour moving average and swing area between 133.505 and 133.652. The high price reached 133.82 and 133.78 at respective highs, but momentum could not be sustained. In the early Asian

EURUSD trades up and down today The EURUSD has experienced a volatile trading session, currently at 1.06034. The high price reached 1.0669, briefly surpassing its 100-hour moving average (blue line in the chart above). However, the momentum could not be sustained, causing the price to reverse course. The downward move stalled near a modest swing

GBPUSD buyers are making a play above the 100 hour MA The GBPUSD buyers have successfully pushed the price above its 100-hour moving average at 1.21129, reaching a new intraday high of 1.2127. Examining the hourly chart above, it’s clear that breaking above the 100-hour moving average took some effort. The market initially attempted this

WTI crude futures are settling $68.35 up $0.74 or 1.09%. The low price today reached a $65.71. That was just above the low price from yesterday at $65.65. The high price today reached a $69.38. The 52 week high for crude oil comes in at $123.68. Looking at the daily chart, the swing low going

EURGBP trades above and below 100 day MA The EURGBP rose during the European session as the EURUSD climbed higher ahead of the ECB rate decision. While the high price for the EURUSD stalled near its 200-hour moving average, the EURGBP reached and briefly surpassed its falling 100-hour moving average (blue line in the chart

WTI crude oil has rebounded 38.2% retracement The WTI crude oil futures price settled at $67.61, down $3.72 or 5.22%. Currently, the price hovers near $68, still significantly lower but recovering from the day’s low of $65.65. At that low, the price had dropped by $5.68, reaching its lowest point since early December 2021. Examining

GBPUSD trades between the 100 and 200 hour moving averages The GBPUSD experienced a decline today amid increased dollar purchases in European currencies . This shift drove the price of the GBPUSD below the 100-hour moving average and the 100-day moving average (currently at 1.2032), ultimately reaching the 200-hour moving average at 1.20087. Today’s low

NZDUSD finds some support near the 100/200 hour MAs The NZDUSD reached a low of 0.61753 today, briefly dipping below the 100-hour moving average at 0.61798 (blue line in the chart above). However, the price managed to stay above the 200-hour moving average (green line in the chart above) at 0.61707. The current price is

NZDUSD trading up and down The NZDUSD has recently entered a consolidation phase, poised between an upper swing area and a lower one. The upper boundary encompasses a range of 0.6250 to 0.62639 (highlighted by red numbered circles in the accompanying chart), with the 100-day moving average positioned nearby at 0.62488. As the new trading

GBPUSD consolidates in a 66 pip range The GBPUSD moved higher yesterday to start the trading week. The low on Monday was down at 1.20658, but in the NY session moved to new highs, breaking above swing highs from back on Feb 21 and Feb 28. Since then (the last 28 hours), the price action

USDCAD bounces off the 50% midpoint The USDCAD sellers took the price lower today and in the process fell back below the 200 hour moving average (greenline). The price fell to a swing area between 1.36579 and 1.3665, and below a upward sloping trendline (see blue numbered circles). The price did hold support against 50%

The major European stock indices are closing sharply lower. The major indices could not dodge the bullet that the US indices are seemingly getting through despite the fact that the focus of the banking crisis is a centered in the US. However, these types of things always have the potential to spread. Moreover the European

The 2 year yield got within 4 bps of its 200 day MA The USDJPY is reacting higher on the back of the move off lows in yields. The 2 year yield (see chart above) moved back up to 4.266% from an intraday low just below 4.00% at 3.997%. The yield is now only down

GBPUSD trades to a new session high The GBPUSD is trading to a new session high and in the process is looking to break above a swing era between 1.21425 and 1.2147. Those swing highs correspond with highs from highs from February 21 and again on February 28. The high price is currently trading at

The Dow Jones Industrial Average (DJIA) is one of the most widely recognized stock market indices in the world. It tracks the performance of 30 large-cap American companies and is often seen as a barometer of the overall health of the US economy. In this Dow Jones futures video, i duscuss the technical analysis of

The price of WTI crude futures are settling at $76.68. That’s up $0.96 or +1.27% The low today reach $74.77. The high extended to $77.11. The lower dollar/lower rates help to send the price back to the upside. Other commodities also gained with gold up $36 or 1.99%. Silver was up $0.42 or 2.13%. For

NASDAQ index is below is 100 day moving average The NASDAQ index is now down over 200 points or -1.83%. For the week the index is down by -4.75%. That’s the worst week since October 31 when the index fell -5.65%. Technically the price has dipped below the 100 day moving average at 11136.58. The

USDCAD trade between technical levels near highs. Canada also released jobs data today. It was a better than expectations, but the SVB news defined the price action. That sent the flight into the safety of the USD. The USDCAD moved lower, but the low on the hourly chart above, stalled at the trend line connecting

NZDUSD trades between 100/200 hour MAs The NZDUSD squeezed higher with the lower USD, and in the process moved above the 100 hour MA, and the 200 day MA at 0.6166. However, the run higher stalled near the 200 hour MA at 0.61737, a downward sloping trend line (near the same 0.61737), and just ahead

USDJPY falls toward the 134.00 area The USDJPY has just reached a low of 134.104. That is getting closer to the natural support at 134.00. It is also within a swing area (see red numbered circles) between 134.068 and 134.15. That area was defined by swing levels going back to February 20, 21 and 24