Technical Analysis

In an early video on the GBPUSD , I spoke to the pair’s next target coming at the key 50% midpoint. More specifically, I wrote: “On the downside, the next key target comes against the 50% midpoint at 1.28658 (see chart below). The level also corresponds with a modest swing area going back to July

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 Dow industrial average is working on a six-day winning streak. The NASDAQ and S&P have been up 5 of the last 6 days coming into today. All 3 indices are higher today with the Dell industrial average and the NASDAQ index now both up over 1%. The S&P is up 0.83%. Looking at the

The USDJPY has tried to move above its 100 hour moving average at 138.457 (blue line in the chart below). The price moved above that moving average during trading yesterday, and could not sustain the momentum. Today, the price tried again but again failed. Getting and staying above that level is key if the buyers

The AUDUSD has a unique symmetry that has retracement levels of the sharp move lower in June equal to the retracement levels of the sharp move higher in July in the pair (you have to see it on the video to believe it). The AUDUSD pair did move up last week and tested the swing

The GBPUSD continues to probe to the downside after testing a key target on the daily chart near 1.31465 on Friday. The high price reached 1.3142 and backed off. The modest corrective move to the downside on Friday and again today has allowed for the 100-hour moving average to catch up to the price. That

> Technical Analysis > The US dollar fell sharply last week before consolidating on Friday.What next technically? Technical Analysis What levels are in play in the new trading week EURUSD: USDJPY: GBPUSD: USDCHF USDCAD: AUDUSD: ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT –

The USDCAD has bounced higher in trading today after reaching a new low going back to September 13. That low today tested a swing area between 1.3074 and 1.3083. The low price reached 1.3092 before bouncing higher. The rebound to the upside moved back above the 50% midpoint of the move down from the October

The AUDUSD is coming off of the boil that saw the price move sharply to the upside over the last few trading days. That move to the upside saw the pair test the 61.8% retracement of the 2023 trading range at 0.68899. The price also moved up to test the high price from June 2023

The USDCHF broke sharply to the downside this week following the dollar’s move lower on the back of lower CPI and PPI. The prices of imports also came in lower with the YoY now down -6.1%. That sent yields lower and it pressured the USDCHF as well. Technically, the price fell below January 2021 at

The The price of WTI crude futures is settling at $75.42. That’s it down $-1.47 or -1.91%. Although down nearly 2% today, the price this week is still up 2.09% helped by a more positive technical view. Crude oil stalled at the 200 day MA this week Looking at the daily chart, the price moved

The EURUSD is up 2.3% this week which is the largest gain since November 2022. That has taken the price well above its 100 hour moving average. The market is a bit overbought and today we are seeing some consolidation which is taken the price off the boil a bit, but even so the price

Nasdaq up over 1.5% on the day The NASDAQ index continues to march higher. It is currently trading up 217.29 points or 1.56% at 14136.28. For the trading week, the index is up close to 3.5%. That represents the largest gain since March 13, 2013 trading week. Looking at the weekly chart, there were a

The EURUSD is stretching to a new high for the year, and TO a high level going back to the end of February 2022. The move to the upside has reached a key target on the daily chart near 1.1185. It is also trading around the 200 week moving average on that chart. The gain

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 strongest to the weakest of the major indices The JPY is the strongest and the NZD is the weakest as the NA session begins Overnight, the Reserve Bank of New Zealand (RBNZ) decided to maintain its official cash rate (OCR) at 5.5%, a move that was broadly anticipated by the market. The decision was

The AUDUSD current price is near the same level as it was 24 hours ago. And guess what, the technical levels are the same. The price is above the 100 and 200-hour MAs. Bullish. However, the 100-day MA (today at 0.66824), the 200-day MA (today at 0.66971), the high price from last week at 0.6705),

The EURUSD moved to the highest level since May 8 moving above the June high at 1.1011. The high price reached 1.10267 which was short of the next target at 1.10317 (the February 2023 high). A move above that level would have traders targeting the high for 2023 at 1.1095 (April and May 2023 highs).