Technical Analysis

WTI crude oil futures are settling at $67.12. That is down $3.05 or -4.35%.The price low today reached $66.80. The high was at $70.33. Looking at the 4-hour chart below, the low price today extended below the low from May 31 at $67.03. That was the lowest level since May 4 when the price plunged

USDCHF bases near the 100 hour MA and races higher The USDCHF is up about 0.66% today, trading in the current hourly bar to a new session high at 0.91013. The moves is short of the high from Wednesday and Thursday near 0.91069 and also the important 100-day MA at 0.91173. The price did move

USDCAD retests the lows from May The USDCAD spiked higher after the weaker-than-expected jobs report this morning. The price which tested its low from early May at 1.33132 in the late European session (the low reached 1.33157), moved up to a high of 1.33688. That high tested the Asian session high at 1.33705. Sellers leaned

In this insightful look back at our January forecast for the E-mini S&P 500 futures, we find ourselves on the brink of reaching the much-anticipated 4400 level. This article will elucidate the pivotal factors that have contributed to this imminent achievement and offer an in-depth technical analysis of prospective market trends. Key Factors to Consider

S&P test sets key upside targets The S&P index moved up to a high of 4322.62 today. That high price move between the 61.8% retracement of the move down from the January 2022 high to the low reached in October 2022 at 4311.11, and the swing high going back to August 2022 at 4225.28. The

EURGBP falls to the lowest level since August 2022 The EURGBP is tumbling lower in trading today. The price is currently down -0.47%, and in the process took out the lows from early June at 0.85667. The pair is also below swing lows from December 2022 between 0.8546 and 0.8559. The low price just reached

The NZDUSD moved higher today based on the lows against a swing area near the 0.60829 level before moving to the upside and breaking outside of what has been an up-and-down trading range until today (largely under the 0.6100 level). The move to the upside today did extend the range for the week and moved

EURUSD falls to the swing area In an earlier post, I spoke to the selling seen in the EURGBP. It is tumbling lower today and as such, that tail is wagging the dog. Putting it another way, the EURGBP is influencing the price action in the EURUSD today. At the start of the New York

EURJPY buyers are holding onto control technically During the Asian and early European session, the EURJPY witnessed a decrease, with the movement dropping below the 200-hour MA (green line). The noteworthy part here is that yesterday’s price lows rebounded from the 200-hour MA, but just below was the 50% retracement of the uptrend from last

The AUDUSD is up testing the high from yesterday’s trading at 0.6717. The high price just reached 0.67149 after breaking back above its 200-day moving average of 0.66907. AUDUSD retests the high from yesterday Recall from yesterday, the price action continued its run to the upside after the surprise rate hike on Tuesday but failed

USDCHF stalls near cluster of swing levels and trendline The USDCHF is having another up-and-down trading day today with the price trading above and below its near converged 100 and 200-hour moving averages (near 0. 9070). The early US sessions saw the price moving low but was then boosted after the Bank of Canada rate

The NZDUSD is moving lower after an earlier move higher in the early New York session ran out of steam. The high price reached the high of a swing area between 0.60829 and 0.60949. The subsequent fall took the price back below the 100-hour moving average of 0.60703 and the 200-hour moving average of 0.60532.

The USDCHF is mired in a up-and-down type of market environment. The downside, there is decent support near 0.9025 and 0.9035 (a red numbered circles). USDCHF between the 100 and 200 hour moving averages On the topside, price action over last 5 trading days comes between 0.9113 and 0.9119 (see blue numbered circles). There had

AUDUSD trades between the 50% and the 200 day MA The AUDUSD has bounced back to the upside after early US session dollar buying pushed the pair back toward the 50% midpoint of the major trading range. The low price in the US session reached 0.66416 which was within 4 pips of the midpoint level.

Apple shares are down around $1.45 or -0.82% $179.43 after their WWDC23 event where they introduce the Vision Pro VR product. At $3499 and available only in the US at the start of 2024, it’s got a long way to go. Unity Software Nevertheless, a beneficiary today has been Unity Software (U) whom Apple cited

The U.S. SEC has filed 13 charges against Binance, the largest global cryptocurrency exchange, and its founder, Changpeng Zhao. Binance is the largest crypto exchange. Binance is accused of mishandling customer funds, lying to regulators, and misleading investors about its operational safeguards. The SEC alleges that Binance mixed billions of dollars in customer funds and

The buyers in the NZDUSD tried to break higher on Friday, moving above a key 200 hour MA on the hourly chart and swing level on the daily chart. However, momentum failed and the price rotated lower. Prior to the rally on Thursday and Friday, the price did break below the 50% midpoint of the

As we continue to explore the financial landscape of 2023, the spotlight remains firmly on the S&P 500. In this condensed follow-up to our previous analysis, we’ll take a unique approach to predicting this market’s trajectory, focusing specifically on the 4400 key level. Revisiting Our Previous Forecast In our earlier article, we delved into an