Technical Analysis

All the balls are in motion as the Russia/Ukraine situation intensifies Yields are low with the 10 year down -6.1 basis points on the day at 1.968%. The high for the day reached 2.063% US yields are lower The price of    crude oil  moved up to a high of $94.66. That took the price

The major US stock indices are now trading to a new session low with the S&P index now down over 2% while the NASDAQ index is down near 3%. On the move lower the S&P has moved back below the 200 day MA at 4452.10. Recall on Wednesday, the price closed above that MA (last

USDRUB runs higher on invasion talk The USDRUB has indeed moved higher (lower ruble) on the back of the Russian escalation and expectations that an invasion is imminent. Looking at the daily chart the price rise has seen the price move up from 74.94 at the close yesterday to the current price of 77.36. The

The US major    indices  are closing sharply lower with the Nasdaq leading the way. The final numbers are showing: Dow fell -503.53 points or -1.43% at 34738.07 S&P fell -85.42 points or -1.90% at 4418.65    Nasdaq  fell -394.48 points or -2.78% at 13791.16 Russell 2000 fell -21.01 points or -1.02% at 2030.14 Some

EURUSD traders ponder the next move The    EURUSD  rallied last week on the back of a tilt in the ECB toward the possibility of a tightening in 2022. That tilt was expressed last Thursday after the ECB rate decision (see spike higher on February 3). The run to the upside stalled on Friday near

NASDAQ index test a lower swing area The    NASDAQ  index is trading at session lows at 14198.78. That price is testing a swing area between 14198 and 14222. The level corresponds with swing highs from February 2, February 7, February 8, and the low from earlier in the day. Yesterday, the price gapped above

The EURUSD squeeze back higher The EURUSD has retraced all the CPI declines. Before the data, the EURUSD was trading at 114.34. The price moved down to 113.74. That level tested the 50% midpoint of the move up from last Thursday’s low (ECB day). The low fell short of the rising 200 hour moving average

The major US    indices  are all closing higher on the day and near session highs. The Dow is up for the third consecutive day The Russell 2000 is up for the fourth consecutive day the Dow is closing 2.8% from its record high close S&P is closing 4.4% from its record high close(4.8% from

USDCHF remains confined in a narrow trading range thaat The    USDCHF  is 3+ days now within a narrow 42 pip trading range. That is not a whole lot. Yesterday, the price took a quick peek above the Monday high at 0.9261, but one pips later the buyers turned sellers in pushed back down toward

The major US stock indices are trading near their highs for the day. A snapshot of the market currently shows: Dow industrial average up 352.54 points or 1.01% at 35447.29 S&P index up 34 points or 0.75% at 4518.00 NASDAQ index up 158.18 points or 1.13% at 14174 point Dow Jones industrial average traded above

USDCAD on the hourly chart moves back higher today The USDCAD fell below its 100 and 200 hour moving averages yesterday, and moved down to test a lower swing area and 38.2% retracement between 1.26496 and 1.26628. The low price reached 1.26566. That was also near the swing low from last Thursday’s trade. Today, the

USDCAD tests the next key downside target area Earlier today I posted on the USDCAD (see “The USDCAD retraces back to the 100/200 hour MA. This is the place to buy if you like the upside“), that the 100 and 200 hour MA were being tested at 1.2702 and that: “If it is time to

USDJPY holds support on the dip The USDJPY stepped higher with the higher rates last week. The move to the upside took the price back above the 200 and 100 hour MAs (green and blue lines). The correction lower on Friday ahead of the better than expected NFP report, stalled right at the converged 100/200

The US jobs report expectations was tilted to the downside pre-report as a result of omicron and all the premarket data. However it came in much stronger than expected at 467K versus 150K estimate. The two month revision was a whopping +700K. What? What has been the fallout from the surprise gains? US stocks in

AUDUSD falls away from its 100/200 hour moving averages The AUDUSD moved lower in the late Asian session and continued the run to the downside in the European session. The pair stalled near the 50% midpoint of the 2022 trading range near 0.71403 (the high reached 0.7150) yesterday, the price spiked up to 0.71677. On

EURGBP traded above its 100 day moving average The EURGBP continued its move to the upside today, a day after the ECB hinted of potential tightenings in 2022. Yesterday the pair swung from a new low going back to February 2020 – taking out the January lows at 0.83048. Looking at the daily chart, the

EURUSD on the hourly chart The EURUSD moved lower after the US jobs report. The price extended back below its 100 day moving average at 1.14281 the low price reached 1.1411 before bouncing back higher over the last few hours (see hourly chart above). That rebound back to the upside has now moved the price

USDCHF extends higher but stalls at the 50% of the wks range The USDCHF this week moved down on Monday, Tuesday, and Wednesday (3 straight down), consolidated up and down on Thursday, and corrected higher today. The move to the upside today extended above the 100 day MA in the early European session, and corrected