Technical Analysis

The GBPUSD is trading up and down today, but the move to the upside today stalled near the 100/200 hour MAs near 1.2154 area. Recall, that area stalled the rally on Wednesday as well. The subsequent fall, in the US afternoon session, has taken the price back toward the swing area near 1.2105 and 1.21109.

The NASDAQ index is up 127 points or 1.0% at 12721.65, but this week saw a sharp move lower that took the price below its 200 day moving average for the 1st time since March 2023. The price also fell below the 38.2% retracement of the move up from the 2022 low to the 2023

The EURUSD is lower and in the process moved through a technical support level in the Asian session between 1.05617 and 1.05645. The subsequent fall took the price to another target area between 1.0522 and 1.0531. Support buyers came in against that area on 3 separate tests today. The subsequent moves to the upside found

Both the AUDUSD and NZDUSD have been trading similarly over the last two trading days. Yesterday, the AUDUSD led the way with a rise early in the Asian session after stronger-than-expected CPI data. Buyers then turn to sellers and pushed lower and lower into the close. The NZDUSD followed that lead. In trading today, the

The USDCHF is higher in the day,, near its high for the day and pushing against its 200-hour moving average (green line on the chart above). That moving average comes in at 0.8965. The current price is trading at 0.8962. The last 4 hourly bars have been banging against the moving average without much success

NASDAQ index moves closer to key technical support The NASDAQ index continues its run to the downside and it currently trades down -1.77% at 12906. The index is working toward being one of the top 10 down days for the year. The biggest move lower was back on February 21 when the index fell -2.5%.

EURJPY extends to highest level since 2008 The EURJPY extended above the high price from August 30 at 159.756 and in the process reached a new high at 159.908 going back to August 2008. That’s a 15-year high for the pair. The problem is, the high could only reach 14 pips above the August 2023

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As the day works toward the close, the GBPUSD is one of the biggest movers of the major currencies. The lower yields are helping. So are technical breaks. In this video, I outline the technical breaks and the next targets including the falling 200-bar moving average on the 4-hour chart at 1.23703. A swing area

The EURGBP – a major cross-currency pair – has seen up-and-down price action today. The initial low found support near the low of a swing area and 0.86982. The subsequent move back to the upside took the price up to 0.8725 before rotating back down again to retest the low from earlier today. Now, the

NASDAQ index runs away from its 100 hour moving average The broader NASDAQ and S&P index are moving to new session lows. Investors are still concerned about geopolitical risks out of Israel going into the weekend. In the US, the US House of Representatives continues to be in flux. The declines are led by the

The EURUSD did find support bars against its 200-hour moving average 1.05665 (green line on the chart below), and remained above its rising 100-hour moving average 1.05616 as well.. That’s a short-term tilt to the upside. The not so hot news is that the high price stalled near the 1.0600 level after extending above the

The price of gold last Friday moved up to test its 100/200-day moving average (blue and green lines on the chart below). Sellers leaned against those levels and the price on Monday/Tuesday tried to keep a lid at those moving averages. However, on Wednesday, the price broke higher and it’s been trending to the upside

The GBPUSD tried to get above its 100-hour moving average for the 3rd day in a row. This time, the time above was quick (and the quickest of the three – see blue line on the chart below). The point is that buyers had their shot once again and the hurdle was the easiest this

The market still fears the 150.00 level in the USDJPY. There was a run above at the start of the month and a quick 280 PIP move back to the downside. This week, there was a 100 PIP tumble in a minute of trading on another BOJ fear schism. Technically, move above the 150.00 level,

The AUDUSD is in the midst of a down-and-up market today. The move to the downside did find support against the lows from yesterday near 0.62953 (and above the low from last week and 0.62858 too). The low price today reached 0.62967. The price rebound has moved up toward the high from the early Asian

The major US stock indices are trading to new session lows. The NASDAQ index is leading the way with a decline of -0.82%. The S&P is down -0.71% and the Dow Industrial Average is down -0.55%. The NASDAQ index tried to get back above its 100-hour moving average currently at 13389.92 in trading today, but

The USD/CHF pair initially rose today, testing a critical zone between 0.8982 and the psychologically significant level of 0.9000. However, sellers stepped in at the upper boundary of this zone, driving the price lower. Notably on the downside, the pair has now breached the 38.2% retracement level from the July low at 0.89808, marking an