Technical Analysis

Dow Jones is positive The Dow tumbled over 800 points. Yesterday, the index fell over 1000 points. And for the 2nd day in a row, the losses have been erased.The Dow currently trades up about 50 points or 0.16% at 34417. The high price reached 34431.56. Looking at the daily chart, the down did reach

The price of WTI crude oil futures are settling at $85.60. That is up $2.29 or 2.75%. The high price reached $85.68. The low price extended to $83.01. Crude oil moved above the 100 hour MA and trend line Looking at the hourly chart, the price has moved back above both the 200 hour MA

EURUSD was back toward its 100 hour moving average The EURUSD has rebounded in the North American session. The low price on the hourly chart did find some support buyers ahead of the swing lows from January 6 and January 10 between 1.1283 and 1.1285. The low price reached 1.12897. I was also near a

USDJPY trades up and down in a confined range The USDJPY has seen more up and down price action today continuing the price action seen on Friday. The pair did move below the low from Friday’s trade, but found support near the low from January 14 at 113.474. It dipped briefly below the level to

The major US indices are continuing the move to the downside with the NASDAQ down over 200 points. The S&P index is down around 40 points. Looking at the S&P daily chart, is approaching its 200 day moving average. That level comes in at 4429.41. The low price today reached 4437.25 (the price is currently

USDJPY on the hourly chart The USDJPY has seen a down, up and back down day. The last move to the downside has seen the price retest the earlier low for the day and also a swing low level going back to last Friday’s trading (see blue numbered circles. The pair did move below that

EURGBP on the hourly chart The EURGBP moved to the lowest level since February 2020 yesterday reaching 0.8305. That took out the previous days low at 0.83124 and also moved below a swing area on the hourly chart at 0.83219 to 0.83242 (see green numbered circles). T The price did bounce off the low, however,

USDCAD buyers take the price above a cluster of MAs today The USDCAD buyers are making a play today. Here are the technical reasons: The price low yesterday stalled ahead of the price low from Wednesday. The low reached 1.2452. The low from Wednesday’s trade reached 1.24476. Moreover the low from yesterday was near the

GBPJPY on the hourly chart Yesterday, I posted about the    GBPJPY  . The pair had continued to find support against a floor at the 155.39 to 155.44 area, but also found resistance against the falling 100 hour moving average (blue line in the chart above). Something had to eventually give, and that was the

The price of WTI crude oil futures are settling at $85.14 to end the trading week. That is down $0.41 or -0.48% on the day. The high price reached $85.56. The low reached $82.78. The high prices reach reached $87.10. The low for the week was on Monday at $81.58. The high price was a

AUDUSD retraces the NY session run higher The AUDUSD trading low for a world higher stalled near key resistance. The AUDUSD moved higher earlier today on the back of a strong jobs report for December 2021. The unemployment rate fell to its lowest since 2008 and near a 50-year low. The total employment change was

The major indices gave up solid gains on the day and are closing at the lows for the second consecutive day. The NASDAQ index and Russell 2000 were the worst performers as investors rushed for the exits.. The Dow industrial average gave up a 462 point gain and is closing down -313 points. The S&P

The Dow and S&P are trading at session lows. With the declines, the S&P is now more comfortably below its 100 day moving average of 4576.85. The current price is trading at 4560, down 16.88 points or -0.37%. S&P index is trading below its 100 day moving average Meanwhile the Dow industrial average is also

GBPJPY stalls against its 100 hour moving average The GBOJPY pair has been moving up and down in trading today. On the downside, the low did take out the lows from yesterday and on Friday near 155.44. However the low could only reach 155.39 before reversing and heading back higher. The run to the upside

GBPUSD moves below an old ceiling. The GBPUSD has been stepped lower in trading today, with the price sliding back below its 200 hour moving average in the process (green line currently at 1.36315). After breaking that level, it also cracked below a swing area (old ceiling) between 1.35978 and 1.3603. The price is also

AUDUSD on the hourly chart The AUSUSD in the Asian session based against a swing area (see green numbered circle 8) and moved higher into another swing area (see red numbered circle 9). That high upper swing area stalled the rally and the price moved sharply to the downside. After a corrective move back to

USDCHF bottom this week at the floor area The USDCHF peaked on Tuesday at 0.92776. That was short of the December high at 0.92937. On Wednesday, the price fell sharply and in the process cut through its 100 day MA (blue line on the daily chart above) at 0.92128, and the 200 day moving average

It’s been a one-way trade in oil since the spike down to $66 in early December but we’re now testing a big resistance level. Brent touched $86.71 today, which is a cent higher than the October high of $86.70, but we’ll call it even since it’s now back to $86.58. What’s more is that the