Technical Analysis

The Bank of America is seeing the USDCAD as a buy (see post here). But what does that trade idea look like from a technical perspective? Does it make sense? What is the risk? What is the reward? I take a look at the levels from an hourly and daily chart perspective to see if

AUDUSD tests a key cluster of resistance The AUDUSD tested a cluster of resistance on the daily chart between 0.6966 to 0.69935 area today. The area represents a swing area (see yellow area and red numbered circles). Also in the area is a downward sloping trend line at 0.6977 ant the 50% retracement of the

Natural gas bases at the 50% and moves up to $8.00 today Recall from the post yesterday, the price of natural gas pushed higher in late trading, extending above the 50% retracement of the move down from the June 8 high on the hourly chart above. That level comes in at $7.49. The high price

IN this video, I extend the short term  EURUSD  analysis to incorporate a view from the daily chart and ask “What if?”. If you don’t constantly ask “what if?”, you are missing out on telling the story. It is also a way for traders to see the future. That story may change. There are no

Technical analysis is a form of financial analysis, usually visual, that looks for trends on price charts, and makes predictions based on patterns in market data presented on graphs In technical analysis, a measured move is a technical concept that assists traders in setting their trade plans. Measured moves can be either bullish bearish moves,

AUDUSD backs off today after run above 38.2% failed Yesterday, there was a risk-on flows into the AUDUSD as the dollar fell, stocks rallied and yields moved lower. Today, the  AUDUSD  is not seeing upside risk-on flows despite another up day for stocks. In fact the AUDUSD is lower on the day. Admittedly, the yields

GBPUSD moved back below the 200 bar MA The GBPUSD has now moved back below the natural support at 1.2000 and has seen some liquidation of some long positions. The price has moved down to 1.19850. Looking at the 5 minute chart above, the pair is testing the midpoint of the day’s trading range and

Natural gas is trading between the 38.2/50% retracement Natural gas futures moved up to a high price today of $7.46 before topping and rotating marginally to the downside. The current price range that $7.23. Looking at the hourly chart the recent cycle high peaked on June 8 at $9.65. The subsequent move to the downside

Technical Analysis After a 16.66% decline from its high in 2021, the Australian dollar, with its weekly candle (still in progress) is starting to look interesting for the bulls. ForexLive Tuesday, 19/07/2022 | 09:08 GMT-0 19/07/2022 | 09:08 GMT-0 The following AUDUSD technical analysis shows that the Aussie may be in an interesting area for

GBPUSD backs off to NY session low The GBPUSD has seen the price action bottom in the early hours of the NY session at 1.19516, run up for 3 hours to a high of 1.20326 and then rotate back to the downside and nearly retrace the run higher. The low just reached 1.19522. Technically, the

EURUSD higher, but falls short of the falling 200 hour MA London trader are heading home with the EURUSD reaching a new high for the day before the clock ticked 5 PM. US traders in the morning session that saw retail sales (better than expected), industrial production (worse than expected) and Michigan consumer sentiment (better

The video below presents a technical analysis for Gold as the price of XAUUSD is close to $1700 and the trade idea, for your consideration, becomes applicable only if the $1700 ’round number’ price is lost (crossed down). If that happens, we look to fade the downward move, so seeking to enter a long position

As EURO and USD was looking it is getting to parity, a trade idea to fade the recent decline and go long was created The trade idea had 3 buy orders ready below EURUSD 1 But only 1 of those got filled before the Euro USD pair shot up This leaves the stop loss too

USDCHF breaks below the 200 hour MA The USDCHF has ping-ponged between the 200 hour MA below and the 100 hour MA above in the US session. The 200 hour MA comes in at 0.97726. The 100 hour MA comes in at 0.98155. However, in the last few minutes the price has seen a dip

The price of WTI crude oil futures are settling at $97.59 that’s up $1.91 or 1.89% The high price today reached $99.01. The low prices at $94.59. WTI crude oil is closing near its 100 hour moving average For the trading week, the contract close last week came in at $104.78. The high price early

The 10 year yield has a floor at 2.9%. The US 10 year yield moved lower this week, helped by flow of funds out of the longer end as the yield curve between 2-10 year moved negative on expectations the Fed would be forced to tighten hard to halt inflation. Looking at the hourly chart,

BTCUSD is stuck in a range for the last 30 days, stopping out swing traders that short it, or go long, unless those traders are exiting at the bottom and top of that range Long terms players of the crypto king can improve their forecasting ability by looking at the price levels mentioned in the

EURUSD failed below 1.000, but has the 100 hour MA above The EURUSD tumbled below the parity level finally today after testing the level on Tuesday and Wednesday and bouncing on each test. Today, the dip buyers were not so lucky. The price moved below and moved down to a low of 0.99515. However, after