Technical Analysis

The USDJPY continues to run to the upside with the currency pair now up 1.32% on the day. That is the largest increase since the end of October when the pair moved up 1.75%. It is Golden Week next week and markets are closed on Monday in Japan. The Bank of Japan kept rates unchanged.

The USDJPY has and continues to make new highs going back to 1990. GBPJPY trades at the highest level since 2008 Today, the GBPJPY joined the USDJPY in making a new multi-year high. For the GBPJPY, it traded to its highest level since September 2008 (highest level in 2008 or nearly 16 years). Looking at

The NZDUSD this week moved higher on Thursday and moved up to test the 50% midpoint of the April trading range at 0.59668, before backing off on the stronger US GDP and price data. The price retraced the entire move to the downside with momentum in the Asian session today. That follow-through upside move took

The EURJPY has reached a high of 168.8942. That is down the price within the 100 pips of the high price going back to July 2008 at 168.941. Trading above that level would take the pair to the highest level since September 1992. Traders may look to lean against the high ceiling area from 2008

NASDAQ index is pushing higher The NASDAQ index is currently up 300 points or 1.92%. That’s the largest percentage gain since February 22. For the training week, the NASDAQ in is now up 4.17% which represents the largest weekly gain this year and the highest since October 30, 2023. Technically, the price is now trading

The USDCAD has been trading up and down over the last few days of trading. The volatility intensified today with a move lower into retracement and swing area support, followed by a move higher into swing area resistance, followed by another move lower into the same retracement and swing area support as the initial move

The EURUSD fell after the higher than expected inflation data from the US GDP report. The fall took the price back below the 38.2% retracement 1.0709 and down to test its rising 100 hour moving average at 1.06786. Support buyers leaned against that moving average level, and have pushed the price back to the upside.

In the morning kickstart video, I spoke to the support near the 200 hour MA and the swing area, and if that level held, the need to get and stay above the 38.2% of the April trading range. Well those levels have defined the range in the US session (give or take a couple pips

The Canada retail sales came in a bit weaker than expectations. Meanwhile, US durable goods orders showed strength. That combination helped to push up the USDCAD (higher USD/lower CAD). Earlier, a support swing area stalled the fall after yesterday’s fall on the back of weaker US flash PMI data. The dip buyers against support were

The USDCAD has followed the USD lower and in the process is now stretching to a key cluster of support defined by: A swing area between 1.3654 and 1.3668 204 moving average on the four hour chart at 1.3665 50% midpoint of the April trading range at 1.36612 That cluster between 1.36541 and 1.3668 is

The USDCHF price action is not doing much today. The price has been moving up and down and in the process, the price has been trading above and below the 100 and 200 hour MAs . However, in more recent trading in the US session, the 100-hour MA at 0.9112 has held support. Can the

GBP/USD daily Cable carved out a range from roughly 1.25-1.28 from December to early March in what was a slog of a market as we all weighed whether the BOE would keep its hawkish stance and the Fed would signal rate cuts. For a brief moment in March, it looked like the pair would break

I am eyeing Tesla stock before tommorow’s earnings report, and starting to buy now As equity traders, we’re always on the lookout for opportunities that promise a good return against measured risk. Tesla Inc. (TSLA), the innovative electric vehicle and clean energy company, presents such an opportunity. Ahead of its earnings release tomorrow, post-market close,

The NZDUSD has found a swing area support this week between 0.5851 and 0.58699. The trader also found swing area resistance at another swing area between 0.5933 and 0.5941. Those extremes helped to confined the ups and downs this week. Admittedly, with the price trading to new lows for the year and the lows going

As London traders look for the exits, the GBPUSD has rotated back to the downside. The price is currently trading at 1.2405. The low for the day was at 1.2388 reached shortly after the Israeli attack on Iran. That is also the low for the trading week. GBPUSD moves away from the 50% midpoint The

With key earnings being releases next week, the Nasdaq is flushing more to the downside. Nasdaq runs from the 100 day MA The NASDAQ index is now down -1.61% or -251 points at 15350.76.In the process, the price is running away from its 100 day moving average of 15489.71 and the 50% midpoint of the

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 gold is on pace to close at a new record level today. A. How close level is $2832.30 on Monday, April 15. The low this week was on Monday at $2324.42. The point today at $2417.89 was the highest price for the week. The high intraday price was reached last Friday at