Technical Analysis

Fall from 200 hour MA and back below 100 hour MA The USDCAD has moved down to test support ahead of the week’s lower extreme swing area. The 1.31689 to 1.31731 is home to swing lows and highs going back to Tuesday’s trade (see green numbered circles and lower yellow area).  The low price just extended to the high of that

The thing about key reversal days in FX is when is the close? Gotta pick a time and stick to it I guess, although the end of NY trade does make some sense. Anyway – AUD key reversal day (there are more in other currencies today also, feel free to post in the comments): Key

Sellers eyeing the 100 hour MA?   The 50% is now a close intraday risk level now. On more downside momentum the price would start to catch up with the rising 100 hour MA.  That MA comes in at 1.31364 and moving higher.  There is a swing area just above at 1.3142 to 1.3147.  I

Dow falls on the day Both the S&P and NASDAQ index closed at record highs today. The gain in the S&P index from the March low has now risen over 54%. The Dow industrial average did not fare as well. It fell by -0.24% on the day. The NASDAQ index continued its surge and outperformed

200 hour MA and trend line stalled the fall. Keeps the buyers in control. The price of silver has had an up and down day today but is currently trading up $0.60 or 2.2% at $28.09. The high for the day reached $28.47, while the low extended to $27.11. Technically, the low in the Asian session

Gold trades back above key near-term levels For bank trade ideas, check out eFX Plus Gold was a notable mover in US trading yesterday, with the dollar weakness also helping out the precious metal as it advanced towards the 200-hour MA (blue line). That helped to stall overnight gains but buyers are finding more momentum

Also testing the February low of 1.32015 The USDCAD is trading near its lows after falling below the low from Friday at 1.32053 and also the swing low going back to February 2020 at 1.32015. That’s the bearish news. The not so bearish news is that the low price reached 1.31939 which was just above

50 hour moving average at 10999.40. The Nasdaq index has cracked below its 50 hour moving average near 11,000.   Looking at the hourly chart, the high from Monday reached 11126.037. The high price yesterday was just below that level at 11124 .85. The fall below the 50 hour moving averages a tilt to the downside from a

AUDUSD 200 hour MA and trend line target at 0.71702 The AUDUSD is trading at new session highs and in the process is testing (now breaking) its 200 hour moving average at 0.71702. A downward sloping trendline also cut across at that level.  The next upside target comes against the 50% retracement of the range since August 7 at

Major indices closing near midrange The European equity markets are closed, and although the prices are lower on the day they are off session lows and near the midpoint’s of the days range. For the week, the indices are closing higher. The provisional closes are showing: German DAX, -0.7%. The low for the day reach

The high for the week is within sight The EURUSD has traded to a new intraday session high for the day. The pair moved above the 61.8% of the move down from the August 6th high  at 1.1837 after stalling at the level earlier today. The pair next targets the high for the week at

Major indices close mixed A quiet trading session for US stocks. The major indices close mixed. The NASDAQ closed lower for the 1st time in 3 sessions. The S&P index was unchanged. The Dow is up.  For the week, the major indices closed higher, but the NASDAQ was just barely higher. The final numbers are showing: S&P index -0.55 points or

Up and down trading today The USDCHF this week has been trading up and down. On Monday, the USDCHF moved higher and moved down and up on Tuesday. On Wednesday, the price moved to the high for the week at 0.91972 but tumbled lower and traded to new week lows on the same day. Thursday

Dow lagged all day The S&P and NASDAQ both make bonds at all time highs (and all time high closes) but gave up just ahead of the levels and are closing mixed. The the NASDAQ was the only index to hold onto gains today. The Dow industrial average lagged the broader indices all day.  The NASDAQ is well off its highs but still

Seeing some dollar buying all of the sudden The dollar has reversed back higher in the last 30 minutes of trading.   The EURUSD is back down testing the trend line on the 5 minute chart. The 100 bar MA on the same chart has been broken, but the trend line continues to hold the support. 

Nasdaq rises 2.13% on the day The major indices are all closing higher led by the Nasdaq index.   The Dow and S&P are up 9 of the last 10 days The Nasdaq broke the 3 day losing streak. The S&P rose to above the all time highest close at 3386.15 intraday,  but has closed just

Run to the upside continues The European shares are closing higher for the day. The German DAX, France’s CAC, UK FTSE 100 has now moved higher for 4 consecutive days.   A look at the provisional closes shows: German DAX, +1% France’s CAC, +1% UK’s FTSE 100, +2.2% Spain’s Ibex, +0.4% Italy’s FTSE MIB, +1.0% As

A look at USDJPY, EURUSD, GBPUSD The dollar has moved higher and in the process is testing some technical target in the major currency pairs. EURUSD: The EURUSD is cracking below the 1.17399 level (swing level) and will now look toward the swing area at 1.1713 to 1.1720. The lows today stalled against the high of