Technical Analysis

In the video above, I focus on the technicals that are driving the three major currency pairs – The EURUSD, USDJPY, and the GBPUSD. The markets are reacting to the chances of US government shutdown and the hangover from the Fed BOE and BOJ rate decisions. For the US stocks, it is not the Fed

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 GBP/USD has extended its recovery after reaching its lowest level since May 10, with the decline bottoming out at 1.24739, just below the November low at 1.24865. Early in the US session, the pair began to reverse course with more momentum, regaining prior breaks below key November swing levels at 1.2506 and 1.25237 respectively.

The EURUSD is stretching higher and it has now broken back above the November 26 swing low at 1.0442 and is testing its falling 100-hour moving average at 1.0443 (blue line on the chart above). Just above that is a swing area between 1.0448 and 1.0461 and the falling 200-hour moving average at 1.04719 (green

The major U.S. stock indices ended the day with gains of 1% or more for all three major benchmarks, but they closed lower for the week. Here’s a detailed snapshot: Closing Levels (Daily Gains): Dow Jones Industrial Average: rose 498.82 points (+1.18%) to close at 42,841.06. S&P 500 Index: rose 63.79 points (+1.09%) to close

The USDCHF fell below its 100 hour moving average, swing area and upward sloping trendline near 0.8956. That tilted the short-term bias to the downside. That momentum continued to the next key target area defined by the rising 200 hour moving average (green line on the chart above) and a swing area between 0.8914 and

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 price of bitcoin has reached a low of $96782 and bounced modestly. The digital currency currently traders at $98434 down -$1739 or -1.71% on the day. Looking at the hourly chart, the price moved below the 100 and 200 hour MAs yesterday and then corrected higher, reaching the 200 hour MA (green line on

The major stock indices are moving to new lows as the Fed Chair says the call was a closer call with risk two-sided. That helped to push the USD higher as well. The Dow is down -0.83% while the S&P and the Nasdaq are down over 1% The S&P is currently down -1.04% and the

The EURUSD is moving to a new low on the day and in the process is moving away from the 200 hour MA and the 100 bar MA on the 4 hour chart. Those MAs come in at 1.0514 and 1.0522 respectively. Into the FOMC rate decision and moving above that area is needed to

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

Both the AUDUSD and the NZDUSD are trading lower and in the process testing key support targets. The video above goes through the technicals driving the pairs. Below are the key technical points outlined in the video for each pair. AUDUSD Technical Analysis:The AUDUSD is retesting a key support swing area on the daily chart

The USDCAD has moved lower after failing to sustain a break higher earlier today. Technically, the pair briefly pushed above the April 19, 2020 high at 1.4264, reaching a session high of 1.4270, but momentum quickly faded. The price rotated back below last week’s high at 1.4244 (Friday) and extended to a corrective low of

The GBP/USD and EUR/USD are both trading higher on the day, with GBP/USD outperforming. The GBP/USD is currently up by 0.52%, trading at 1.2618 after testing a low of 1.2615 earlier. Meanwhile, the EUR/USD is up by just 0.05%, recovering from its low of 1.0475 and currently trading at 1.0510. GBP/USD Analysis The GBP/USD has

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

US yields are trading at fresh highs, with the 10-year yield up 7.0 basis points today to 4.395%. This marks a 24-basis-point gain for the week, the largest 1-week jump since mid-January 2024. The rising yields have fueled a strong rally in the USDJPY, which continues to track higher. Key Technical Levels and Price Action

GBPUSD Technical Analysis: Sellers Regain Control The GBPUSD started the week in a choppy trading range, with buyers repeatedly testing the 200-bar moving average (MA) on the 4-hour chart. Over the first four days (and last Friday), the price briefly moved above this MA multiple times, but each attempt quickly failed. On Thursday, buyers gave

The EURUSD is ending the week lower after an up-and-down path to the downside. The move to the downside fell below a cluster of MAs with the 200 hour MA being the one that has put a lid on the pair on Tuesday, Wednesday, Thursday and again on Friday. That ceiling increases the 200 hour