Technical Analysis

NZDUSD is up 3 days in a row The NZDUSD is up for the 3rd consecutive day today after bottoming on Thursday last week. The low price reached 0.6216. That took the pair to the lowest level since early June 2020 and below the 61.8% of the move up from the 2020 low. The retracement

USDJPY trade between its 100 and 200 hour moving averages The USDJPY is moving up with the rise in yields, stronger stocks and overall dollar buying, but did run into some technical resistance which is balancing the move now.. Looking at the hourly chart, the price of the  USDJPY  moved above its 100 hour moving

EURUSD extends to a new high. 100 hour MA looms. The EURUSD is moving higher helped by GBPUSDs run to new highs (now above its 200 hour MA) and overall dollar selling. Yields are lower helping to push the greenback lower. Gold is higher by $14.50 now helping the dollar selling (or is dollar selling

USDCAD back lower after run higher failed The  USDCAD  has moved to the lowest level since May 6th in the current hourly bar. The new low moved below the low from Friday at 1.28882. The low price reached 1.28857, but has already bounced and currently trades back above the 1.2900 level at 1.2913 currently The

NASDAQ index fell 24% from its March high The US stocks are trading higher and to new session highs for the major indices as European traders exit for the day. Dow industrial average is up 527 points or 1.66% at 32257 S&P index is up 107 points or 2.72% at 4038 NASDAQ index is up

The GBPUSD is trading to a new session high and in the process has reached its 32.8% retracement of the week’s trading range. The high price came on Monday at 1.24052. The low price was today after the pair broke below the low from yesterday at 1.2165. The low price today reached 1.21543. That low

USDCHF is up for the 6th consecutive week The  USDCHF  is on track for the 6th straight week of solid gains as the week comes to close. Since the last bottom when the USDCHF bottomed at 0.91942 during the week of March 27, the prices has moved up 853 pips to the high reached yesterday

Crude oil is near the topside trend line on the daily chart WTI crude futures are up for the 3rd straight week after squeezing above the closing level from last week at $109.72. Today the price settled at $110.49. That is up $4.36 or 4.11% on the day. For the week the prices up $0.77

Silver falls to lowest level since July 2020 The price of  silver  has been on a sharp move to the downside. Since it’s last peak at $26.21, the price has been down 16 of the last 18 trading days. Today, the price made a new cycle low but has seen a rebound and trades higher

GBPUSD failed on a break to new lows today The  GBPUSD  fell to a new day and week low of 1.21543. The move lower took out the low from yesterday at 1.2165. Going back further, the break also took the price below the swing low going back to May 22, 2020 at 1.21591. However, momentum

AUDUSD trades to targeted swing area support The AUDUSD tumbled lower today and in the process has moved down toward a key swing area between 0.6809 and 0.6832 (see red numbered circles on the daily chart above). The low for the day reached 0.6824 before bouncing. Risk focused traders have put a toe in the

NASDAQ index is trading back in the black The major  indices  have erased their earlier declines on the day and are trading in positive territory. Dow industrial average is near unchanged at 31833 S&P index is also near unchanged at 3936.15  NASDAQ  index is currently trading up 54 points or 0.49% at 11420 Russell 2000

GBPUSD falls to the lowest level since May 2020 The price of GBPUSD is trading to a new session low as the US stock trading works toward another weak close. The GBPUS has moved to a new low of 1.2236 and in the process has moved to the lowest level since May 28, 2020. Other

AUDUSD back above the 100 hour MA as shorts squeezed The USD has reversed the run higher off the higher CPI. For the  AUDUSD  , it moved sharply lower after the inflation report, reversing the gains for the day and moved to a new low at 0.6927. The price has since shot back higher (it

This from Citi comes via eFX For bank trade ideas, check out eFX Plus . CitiFX Technicals flags levels for USDJPY: USDJPY set a new trend high at 131.35 before retracing lower and ending the day indecisive. At the close, price action experienced triple momentum divergence at the trend high (one of our top 3

USDJPY is back below the 100/200 hour moving averages The USDJPY has seen up and down trading today with price action both above and below the 100/200 hour MAs in the process. The pair moved lower in the Asian session reaching a low at 1.29788. After bottoming it moved back higher leading into the European

It’s a brutal backdrop in markets with stocks down 5 weeks including nearly 20% drop in the Nasdaq. Yet when you look at a chart like this, it looks like it could get much worse. USD/CAD has been consolidating in the 1.23-1.29 range since August but may be breaking out to the upside today. It

USDCHF tested that the March 2020 high this week The USDCHF is working on its 2nd down day in 3 days. That comes after 9 straight days to the upside. The pair moved sharply lower on Wednesday on dollar selling after the FOMC rate decision and Powell’s comments that a 75 basis point hike was