Technical Analysis

USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The US GDP beat expectations by a big margin. The latest US CPI slightly beat expectations but analysts expect the Core PCE to print at 0.2% M/M again

The AUDUSD is mired in a narrow 70-pip trading range this week. The low was reached at the high of a swing area at 0.65504 (swing area down to 0.65417). The high reached up to the high of a swing area between 0.6612 to 0.66215. In between is the 200 day MA and the 50%

The EURUSD moved lower on the back of the ECB rate decision and the press conference from ECBs Lagarde. In the process, the pair moved below the 200-day MA at 1.08432 and toward a key swing between 1.08038 to 1.08243. Move below that level and traders will be looking toward the 50% of the move

Yesterday, the USDCHF experienced an upward movement, reaching a key swing area between 0.8711 and 0.87314. The pair initially moved away from the 38.2% retracement level of the downward trend from the October high to the December low, which is at 0.86803. Despite this, the market couldn’t maintain its upward momentum. When the price subsequently

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

If I were to give a technical tilt for the AUDUSD, the bias is to the downside. Looking at the 4-hour chart, The price is now below the 200-hour moving average 0.65779 (green overlay line on the chart below). Bearish The price is also below the 50% midpoint of the move-up from the October load

The USDJPY moved lower after the Bank of Japan interest rate decision (no change) and statement/press conference. However, although the price was able to break below its key 100-day moving average at 147.557 and 61.8% retracement at 147.45, the price did find early buyers against its rising 200-day moving average (green line in the chart

Bitcoin falls below $40000 The price of Bitcoin is trading to a new session low, and in the process, the price is breaking below the $40,000 level for the first time since December 4. The price is also falling below it 38.2% retracement of the move up from the September 12 low to the January

Like many of the currency pairs, the AUDUSD is trading in a narrow trading range. Support is holding the 200-day MA at 0.65787. The 50% midpoint of the move up from the October low, is at 0.65699. Going forward, a move below each is needed to increase the bearish bias. Conversely, stay above and traders

The USDCHF has moved higher this week. The low for the week was on Monday. In the current 4-hour bar, the price is making new highs. So buyers have been in control. On the way to the upside, the price moved above the 200 bar moving average on the 4-hour chart. That level comes in

The NZDUSD moved lower in the early part of the week, helped by technicall breaks and slower growth in China. The move to the downside continued until the price moved into a key cluster of support defined by the 200 day moving average at 0.60897, a swing area going back to mid-November at 0.6078 –

SPX weekly The S&P 500 just edged above the 2021 all-time high of 4818. A weekly close above that would be particularly bullish. The past two days of buying have been remarkably strong despite higher Treasury yields. On the day, the index is now up 0.8% to 4820, up 40 points. Technically, the weekly close

The AUDUSD moved lower in the first half of the week, with the high for the day reached in the early hours of Monday. The fall bottomed on Wednesday when the price reached a low corresponding to swing highs and lows from November and again in December. Today’s return to that level attracted risk-focused buyers,

The EURUSD this week trended lower into Wednesday but found support buyers against its 200-day moving average. The moving average was tested on two separate occasions, and each time buyers leaned and pushed the price higher. The subsequent rise has taken the price back to a swing area between 1.08788 and 1.0894. Move above that

The major US stock indices are opening higher, but often the highs from the premarket trading. Of note today is the S&P index is once again looking to test its high closing level. That level comes in a 4796.57. The high price today has reached 4799.33, but has backed off. Last week the price moved

The NZDUSD trended lower into yesterday’s trade, but after reading it at 200 day moving average near 0.60901, and a swing area between 0.6078 and 0.6085, the selling baby in the price corrected the upside. That move to the upside took the price to an Asian session high of 0.6135. That was short of 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 USDJPY has continued it trend like move the upside today. In the process the price cracked above the 100-day moving average and 61.8% retracement of the move down from the November high. That level came in at 147.45. The subsequent run to the upside after that break, so the pair move up to a