Technical Analysis

USDCAD Technical Analysis The USDCAD has experienced a volatile month, with one day remaining. Key milestones include: Monthly low: 1.3472 (October 2) Monthly high: 1.3938 (today) Trading range: 466 pips, second-largest since December 2022 Uptrend dominant throughout the month Technically: Price rarely dipped below 100-hour moving average Last breach: Thursday last week, with support at

The USDCAD has been stretching higher and is extending closer to the high price from 2024 at 1.39458. Move above that level and traders would target the 2022 high at 1.3970. Get above that level and the pair is trading at the highest level going back to 2020. In this video, I outline those topside

The NASDAQ index is trading up 96 points or 0.52% at 18663.79. That takes the price above the July 10 high closing level of 18467.58. On Friday, the price high traded above that level intraday but failed. In trading yesterday, the high price also moved above that high closing intraday and failed (closing near the

The GBPUSD buyers had their shot to make a move today. After bouncing off a key support level at 1.2938, the price surged higher, breaking above the 100 hour MA, 100 day MA, and 200 hour MA. However, despite achieving this technical breakthrough, the buyers failed to sustain momentum. On two separate occasions, the price

The AUDUSD closed below its 200-day moving average on Friday at 0.6628. In trading today, the price remains below that 200-day moving average. Stay below that level, keeps the sellers more in control. In the Asian session today, the price initially moved lower reaching 0.65789. That took the price within four pips of the 61.8%

The NASDAQ index is soaring as yields back off. Durable goods were better than expected with ex Boeing numbers showing strength. The Michigan consumer sentiment came in better with inflation expectations lower than last month at 2.7% (versus 2.9%). The NASDAQ index is now up 243 points or 1.32% at 18658.80. The index is also

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The NZDUSD has moved lower this week, and in the process moved below a swing area between 0.6031 and 0.60387. That swing area was retested yesterday on a corrective move higher and found willing sellers. On the downside, the low price reached earlier today stalled at 0.5986. That was just short of the high of

The AUDUSD moved lower earlier this week, and in the process fell below its 100-day moving average at 0.66952. A corrective bounce higher on Tuesday saw sellers lean against that level. Going forward, that level is a key resistance target. The subsequent fall midweek took the price below its 200-day moving average at 0.6628. It

The EURUSD moved higher in the early US session and tested its 200-hour moving average currently at 1.08342. Although the price ticked above the MA line on a few hourly bars, the momentum stalled. The buyers turned to sellers, and the price has moved back to the 100-hour MA (blue line) at the 1.08056. The

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The EURUSD is making a technical break into the close as it moves above its 100-hour moving average for the first time since September 30. That level comes at 1.08129. Getting and staying above that moving average is a win for the buyers. The next target comes against the 200 hour moving average at 1.08423.

The existing home sales yesterday came in weaker. The new home sales data today came in stronger. Existing home sales account for about 80% of home sales in the US. Today, the Freddie Mac 30 year mortgage rate rose to 6.54% from 6.44% last week. This is highest level since August 1 week. The good

The USDCHF has been trading higher since September 30, and after breaking outside of the “Red Box” on October 4. The price moved up to a swing area and then above the 38.2% retracement during last week’s trading. On Monday this week, the price corrected down to retest the 38.2% retracement at 0.86318 and found

Shares of Apple are moving sharply lower after MIng CHi Kuo a widely followed analyst of Apple projects that iPhone 16 orders will be cut by around 10 million units for 4Q 2024 to 1H2025. Shares of Apple are currently trading down $6 or -2.54% at $229.86. Last week, the price reached an all-time high

At the start of the US session today I posted on the GBPUSD: GBPUSD: Traders have been targeting the 100 day MA and the 61.8% of the move up from the August low at 1.2962 and 1.2958. The low price today reached within 3 pips of the 100 day MA at 1.2965 and bounced to

The price of crude oil futures are trading higher by $1.73 or 2.47% at $71.78. The move to the upside has the price testing its 200-hour moving average at $71.76. A move above is needed to increase the bullish bias with the 38.2% retracement of the move down from the October 7 high at $72.10

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not