USDCHF is testing its 38.2% retracement and 100 hour MA The USDCHF is testing the 100 hour MA and the 38.2% of the move up from the December 31 low at 0.9182 area. The low price just reached 0.9183. A move below the 100 hour moving average and the 38.2% retracement, would increase the bearish
Technical Analysis
The price of WTI crude oil futures are settling at $78.90. That’s down -$0.56 or 0.7%. The high price reached $80.47. The low price extended to $78.52. Crude oil was up sharply this week For the week, the price moved up for the first four trading days, but is trading down today after reaching the
NZDUSD traders in the lower half of the day’s trading range The NZDUSD move down early in the Asian session yesterday on it’s way to a low at 0.6733 . That was just below a swing area between 0.6734 and 0.6740. The subsequent rise to the upside moved up to test the Tuesday low at
EURGBP price remains below the 100H MA and swing area When I look at a chart, I focus on who is in control. To determine control, you need clues that give a bias. I like to technical clues like moving averages (100/200 bar MAs), trend lines, swing areas where support and resistance floors and ceilings
The major US indices closed the new near session lows. The declines were across the board today as the overall market reacted to the idea that the Fed would look to run down its balance sheet in addition to increasing the taper, and starting to tighten. The Dow industrial average closed at record levels on
GBPUSD on the daily chart The GBPUSD cracked above its 100 day moving average at 1.3554 earlier today, and has more recently broken above the 38.2% retracement of the move down from the June 1 high at 1.35754. The next targets in the progression off the daily chart (see earlier post) come in against the
The US major stock indices are closing mixed: The Dow industrial average is closing up 214.57 points or 0.59% at 36799.64. That is a new record close. Intraday, the price it reached a new all-time record high 36934.84. The index has 2 record closes in 2022. The S&P index closed down -3.04 points or -0.06%
US 10 year yield The US 10 year yield is up again today. It is currently at 1.675%, up 4.5 basis points. The high yield reach 1.681%. The low yield today was at 1.614%. Looking at the daily chart, connecting the high yield going back to March 30, 2021 to the higher yields in October
Amid thinner market conditions last week, the pair managed to hold a weekly close above 115.00 and is running with that so far to start the new year. The latest jump is largely helped by the surge higher in Treasury yields yesterday, which saw 10-year yields climbing by over 10 bps to 1.63%. A stronger
US yields have moved higher The start of the calendar year has been met with selling in the bond market which has increased yields markedly. The 10 year yield is now up 11.8 basis points. The 30 year yield is up 11.6 basis points and back above the 2.00% level. Looking at the 10 year
NZDUSD on the weekly chart The NZDUSD stepped lower in 2021 in choppy up and down trading. The moves to the downside came despite rate hikes by the Reserve Bank of New Zealand toward the later half of the year. The expectations are the central bank will look to continue that trend in 2022. Overall,
AUSDUSD on the weekly chart The AUDUSD in 2021, reached its high for the year on February 25th at 0.8006 which was near a nice natural resistance of 0.8000. The price low was not reached until the December 3rd at 0.6992 (also near a natural support level at 0.7000). The range of 1014 pips compares
USDCAD rallied into the year end but stalled at the 100W MA The USDCAD had a down, and up, and down, and up year with the pair reaching the year high in the 2nd to last week of the calendar year. However, the new high in December was only by a few pips and it
The Dow industrial is the only major indice to close higher today. However, it fell just short of closing at a record level of 36432.23. The S&P index, which closed at a record level yesterday, moved to a new intraday high, but closed lower on the day. Dow has been up for 5 consecutive days
USDCHF below the 100 week MA. Bearish below. The USDCHF has seen a recovery to the upside in 2021 (flow out of the safety of the CHF and rise of the USD), but the gains have been somewhat limited, and the year is looking to end with a more bearish bias technically on the longer
USDJPY trended higher in 2021 The year 2021 for the USDJPY can be characterized as a trend like move higher. The USDJPY pair had it’s low for the year on January 6th (the first week of the trading year) at 102.586. The high for the year (with a few days left to go) peaked at
There’s a strong seasonal tailwind for oil starting in mid-January and running for a few months but the first big hurdle will be rebounding from the omicron swoon. WTI has struggled to recoup the 50% retracement level at $73.72. It rose as high as $73.33 today in a one-cent rise above the prior December high.
USDCHF on the hourly chart is respecting technical levels The USDCHF fell below its 200 hour, 100 hour and 100 day moving averages yesterday but bottom near a swing area between 0.9186 and 0.9190. Today that swing area was respected again at the session lows. The price moved higher and was able to get above