Technical Analysis

The September high for the  NZDUSD comes in at 0.71694 The NZDUSD has been trending sharply to the upside today, continuing its surge over the last four trading days in particular.  The run today saw the price extend above its 200 day moving average at 0.70972. Yesterday the price did move above that moving average level briefly but backed

Netflix, Philip Morris, Johnson & Johnson, United airlines  highlight the releases tomorrow The earnings calendar for the week kicks off in earnest tomorrow with Netflix leading the charge.  Other major releases include: Tuesday, October 19 United Airlines Interactive Brokers Group Bank of New York Mellon Travelers Companies Procter & Gamble Halliburton Intuitive Surgical Netflix Philip Morris Johnson &

Corrective move higher stalled ahead of its falling 100 hour moving average The USDCAD is up modestly from Friday’s closing levels but also well off the highs for the day. The high price reached 1.2409. The current price is trading at 1.2366. The move to the upside in the Asian session saw the price move up to

German DAX tests its 100/50 day moving averages the major European indices are closing higher for the day and also closing higher for the week. The EuroStoxx 600 index rose by 2.6%. This was the best week since March.. UK’s FTSE 100 is trading at 7 month high. The German Dax test its 50 and

Test of 100 hour MA at the high, finds sellers. The USDCHF on the hourly chart below, shows an up and down kind of day. That is the reverse of yesterday’s day which saw the price first move lower, before snapback higher.   The run higher today reached up toward the 100 hour moving average and the 38.2% retracement

What are the charts saying for the major currency pairs. Heading into the new trading week, what key technical levels are in play that traders around the world will be watching (and why?).  Below are the stories….. EURUSD: The EURUSD traded to a a new low for the year this week taking out the October 6

The NASDAQ back above its 200 hour moving average. S&P running away from its 50 day moving average The major US stock indices continue to move higher. With the S&P index up about 34 points or 0.77% at 4473. The NASDAQ index is up about 70 points or 0.48% at 14894. For the S&P index, it close

Dow has a two day win streak two end the week The US stocks are closing higher across the board with the Dow industrial average leading the way with a gain over 1%. S&P and NASDAQ end the week with a three day winning streak Dow ends with a two day winning streak Dow is

Dollar bid… a bit after retail sales The EURUSD has moved back down toward the Asian session low at 1.1587. The low price just reached 1.1588 after the better than expected retail sales.  The current price is trading at 1.1594. Looking at the hourly chart, the low price still remains above the swing area between 1.1583 1.1586 (see

The key bias and technical levels for some of the major currency pairs The trading day is coming to an end with stocks moving sharply higher. That dynamic has the flow of funds into the “risk on” currencies including the NZD, CAD and AUD. Those three currencies are the strongest of the majors.  The biggest loser is the JPY followed

Dow industrial average looking to snap its four day decline  The major US stock indices are opening higher. Both the NASDAQ and S&P are working on their second consecutive day gain after 3 down. The Dow industrial average is looking to snap its four day decline today. A snapshot of the market eight minutes into the open is currently showing:

Dow closes lower for the fourth day in a row The Dow industrial average could not sustain gains into the close and is closing fractionally lower on the day. Nevertheless it still is a down day. That increases the losing streak for the Dow industrial average to four consecutive days.  The good news is that the

..New high but just barely (at least so far). The USDJPY moved up after the CPI data today and in the process took out the high price from yesterday but only just barely. The high yesterday reached 113.783. The high price just reached 113.798 but backed off. The current price is trading at 113.64 as I type. The

Stocks struggle to move higher The US stocks could not sustain positive levels and drifted lower into US afternoon. The major indices are closing lower for the third consecutive day.   At the close, Apple announced that they would have to cut production of the iPhone due to chip crunch.  Apple shares are down -1.1% after the close.

Moving away from 100 hour MA after trading above and below today The EURUSD is moving to a new low for the day in early US trading. Even so, the pair is in a narrow 26 pip trading range (it was 23 pips before the modest expansion). The next target is the low from Friday

Stocks still off into the close The US stock indices sold off into the close and are closing near the low levels for the day. The Dow and S&P are lower for the 2nd consecutive day Utilities and Communications lag Materials and Real Estate lead A look at the indices at the close show: Dow -249.40

10 year up to 1.614%. The nUS 10 year yields continue to move higher with the 10 year now up to 1.614%. That’s up 4.3 basis points on the day.  The move higher is starting to hurt the NASDAQ index which is currently down -53 points or -0.37% at 14600.26. The USDJPY is also being impacted as

The post employment low price is also being retested  The GBPUSD whicch stalled ahead of its 50% retracement of the move down from the September high and above the rising 100 hour moving average, has returned back down toward the lower extreme (at the 100 hour MA). That moving averages currently at 1.3604. The price just reached 1.36102. The swing