Technical Analysis

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

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 BOE rate decision will announced at 7:00 AM. No change is expected. However, it is in the nuances of the statement and comments that will drive the roadmap for traders – either bullish or bearish. To understand that, it is important to understand where the technical levels are that the “market” will pay attention

The EURUSD muddles along with support and resistance defined by technical levels. More specifically the higher the swing area 1.07346 held support. The bounce higher has run into resistance against another swing area between 1.0752 and 1.0756. The 100-day moving average is also in play at 1.0753 on the topside. The range is still very

The USDCAD has made a move to the upside today with the help of technical breaks through some key moving averages. More specifically, the. 100 and 200 hour moving averages were broken near the same level at 1.3688 100 bar moving average on the four hour chart was broken at 1.37169 The move higher also

The AUDUSD moved higher to retest the swing area ceiling area before the RBA rate decision and found willing sellers. That ceiling area comes in between 0.6635 and 0.6648. The rotation lower after the rate decision, took the price down toward the 100 day MA at 0.65765. That moving average was resistance last week, before

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 AUDUSD raced higher on Friday, but found willing sellers near a key swing area between 0.6635 and 0.6648, before rotating back to the downside. In trading today, the price will back up to retest that swing area only to find willing sellers again. Needless to say, getting above that area is needed to increase

The EURUSD moved sharply higher after the US jobs report, and in the process extended above the 50% midpoint of the move down from the March high and also the 200-day moving average (at 1.0797 currently). The price did extend above those levels and the high of a swing area up to 1.08036. but failed.

Crude oil The price of crude oil is trading a session most going into the settlement. The price just reached $78.21. That’s down $0.74 on the day. Looking at the daily chart, the price is moving to new lows for the week and new lows going back to March 13. It is also getting closer

May is normally the strongest month for crude oil but it certainly hasn’t started out that way. WTI crude fell another 57-cents today to bring the weekly decline to $5.50 in five straight days of selling. The weekly chart is set to post the lowest close since the week ending March 8 while the daily

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 3 major US stock indices closed higher today and this week. The gains were led by the NASDAQ on both measures. A summary of the day shows: Dow Industrial Average rose 450.02 points or 1.18% at 38675.69 S&P index rose 63.61 points or 1.26% at 5127.80 NASDAQ index rose 315.37 points or 1.99% at

The AUDUSD moved sharply higher after the US jobs report. The price rises took the pair above the 100 day MA at 0.6580, the 50% of the move down from the December high at 0.66159 and up to the a key swing area ceiling between 0.6335 and 0.6345. Sellers leaned against that ceiling and have

S&P index trades between 50 and 100 day MAs The S&P index is trading higher and near session highs. The current price is up 36 points at 5054.25. The high for the day reached 5058.01. That puts the price near the middle between key day MAs. On the downside, is the 100-day MA at 4979.26.

The major European stock indices are ending the day mixed. The German DAX and France CAC both moved lower. A snapshot of the closing levels shows: German DAX, -0.15% France CAC, -0.88% UK FTSE 100 under +0.63% Spain’s Ibex, +0.19% Italy’s FTSE MIB, unchanged Eurostat 50 index -0.51% Looking at European benchmark 10 year yields:

The USDJPY broke below the 100-day moving average and scooted all the way down to the 200-hour moving average at 155.98. The price moved below that moving average on its way to a low price of 155.793 before bouncing back to the upside. Recall from Monday’s trade after the intervention, the price also moved below

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