Technical Analysis

The AUDUSD moved sharply higher the last two days and in the process moved above the 50% of the 2023 range at 0.67134 on both trading days. Both days also stalled at 0.6728. Buyers of the shot on a number of attempts above the 50% midpoint, and each time they missed. On the downside, the

Crude oil futures are settling at $71.43. That’s down -$0.15 or -0.21%. For the trading week, the price is little change at +0.25%. The low for the week reached $67.71. The high for the week was up at $72.56. Looking at the weekly chart below, the price traded this week above and below the 200-week

The EURUSD has ticked to a new low for the day, but as mentioned in the kickstart video from early today, the 1.0900 level is a key support target. Earlier today, the low price reached 1.09036 and bounced. The low price just reached 1.0902 and is stalling the fall. In this video, I outline the

The GBPUSD ran higher today spurred on by follow-through USD selling (GBPUSD buying) after the more dovish Fed, and follow through buying of the GBPUSD pair on the back of a more hawkish BOE today. The move to the upside worked its way toward the 1.2800 where old swing high area between 1.2789 and 1.27994

The EURUSD – coming into the trading day – had resistance against the 61.8% retracement of the 2023 trading range at 1.09594 (see video above). When the price in the early North American session moved through that level without much in the way of resistance, the price extended higher and is now up-testing the 1.1000

US 2 year yield is trading at lowest level since June The US 2-year yield is now down -29 basis points at 4.439%. That is the lowest level since June and the largest one-day decline since March. Looking at the daily chart the prices approaching its 50% midpoint of the move up from the March

The NZDUSD moved lower in the Asian session as lower food price inflation data, and a shift in policy focus from the RBNZ from targeting employment and inflation, to just targeting inflation. The data and the policy decision helped to push the NZDUSD to new lows for the week and to the lowest levels since

Dow is approaching all time high levels The Dow Industrial Average is only about 0.60% away from its all-time high close and about 1% away from its all-time high price at 36952.65. The all-time high close comes in at 36799.66 (January 4, 2022). For the S&P index, the index is still 3.78% away from its

The ups and downs in the AUDUSD continued in trading today. The low in the Asian session found support buyers against the 38.2% retracement of the move-up from the December 10 low. That retracement level came in at 0.6555. The low price reached 0.6659. The subsequent move to the upside took the price above its

The ECB and the Bank of England both meet and announce rate decisions on Thursday and like the EURUSD (see post here), the price of the EURGBP seems to be waiting for the next shove from the fundamental news. EURGBP awaits the next shove. Looking at the hourly chart above, the price has been trading

The AUDUSD currency pair is currently experiencing limited movement within a confined trading range. Notably, there’s a visible hesitation to drop below the 38.2% Fibonacci retracement level, which traces back to the rise starting from the low on November 10. This critical level is identified at 0.65552. Should the pair consistently trade below this threshold,

Indicators: NQ technical analysis for 11 Dec 2023 Nasdaq technical analysis for the short term, 11 Dec 2023: The NASDAQ 100 E-mini Futures hourly chart shows a rising wedge pattern, which is a bearish reversal pattern. The price is making higher highs and lower lows, but the RSI is not confirming the upward move. This

The major US stock indices have turned back into negative territory after extending higher after the favorable inflation and growth numbers from the University of Michigan sentiment survey. For the Dow Industrial Average it traded as high asup 144.6 points. It is currently trading down 10 points or -0.03% at 36107. The S&P index traded

USDCAD trades to a new high but upside resistance looms The USDCAD has recently reached a new daily high, but the price movement has been notably volatile, fluctuating between gains and losses. This inconsistency in the market’s direction forms the backdrop of current trading conditions. On a positive note, today’s low, which occurred during the

The USDCHF has moved higher this week. The low was reached on Monday. The high was reached in trading today. At session highs, the price reached the low of a swing area on the daily chart between 0.88167 and 0.8838. In trading next week, if the buyers are to take more control they would need

The price of WTI crude oil futures are settling the week at $71.23. That’s up $1.89 or 2.73%. Monday, Tuesday and Wednesday saw the price tumble from Friday’s close of $74.07 to a low-price reached yesterday (before rebounding) at $68.80. The rebound today retraced some of the declines. However, for the week, the price is

The University of Michigan consumer sentiment showed a sharp increase to 69.4 from 61.3 last month. The estimate was for 62.0. However, what the forex market is reacting to is the lower inflation expectations. The one-year inflation measure decreased to 3.1% from 4.5% last month. The five-year inflation measure moved to 2.8% from 3.2%. The

Last Quarter Performance: Broadcom reported revenues of $8.88 billion last quarter, a 0.6% decrease year-on-year, aligning with analyst expectations. Current Quarter Expectations: Analysts anticipate a 4.1% year-on-year revenue growth for Broadcom, estimating revenues to be around $9.28 billion. This growth rate is slower compared to the 15.7% year-over-year increase in the same quarter last year.