Technical Analysis

Greg Michalowski of Forexlive.com takes a deep into the technicals defining the bias, risk and key targets for the EURUSD heading into the new trading week starting June 5, 2023. In the report, he looks at the daily chart and then drills into the hourly chart. Get your week started on the right foot by

The USDCHF sellers had their shot on Friday on the break of the 200-hour MA, but could not sustain momentum. The better US jobs report started the wheels in motion for a move back to the upside. That took the price back above the 200 and 100-hour MAs in the process (at 0.90564 and 0.90718

Greg Michalowski of Forexlive.com takes a deep into the technicals defining the bias, risk and key targets for the USDJPY heading into the new trading week starting June 5, 2023. In the report, he looks at the daily chart and then drills into the hourly chart. Get your week started on the right foot by

The major US stock indices are moving higher at the open after the stronger jobs report from the nonfarm payroll perspective. The unemployment rate rose however, which helps to put a Goldilocks spin on the numbers. A snapshot of the market shows: Dow industrial average of 330.63 points or 1.0% at 33392.21 S&P index of

Looking at the daily chart of bitcoin , the price moved lower yesterday and tested its rising 100-day moving average. Support buyers came in against that level. Today the price was able to move below the 100-day moving average but found support buyers near the 38.2% retracement of the move up from the March low

The buyers in the GBPUSD are making a play to the upside from a technical perspective in trading today. The pair has been able to get above the 38.2% retracement of the May trading range at 1.24493. There was a dip after the ADP jobs report that took the price back toward that level but

USDCAD moved lower and tested the 200-hour MA target on the downside (see earlier post here). Buyers stalled the fall. The price moved back higher. That move to the upside took the price back to the 100-hour MA (blue line) where sellers are now leaning. So buyers are leaning against the 200-hour MA on the

USDCAD below the 100 hour moving average The better-than-expected Canada GDP brings the Bank of Canada back in play after their conditional pause in rate hike’s. That has the USDCAD moving lower. Technically, the price just broke below its 100 hour moving average at 1.3612. The current price trades at 1.3608. On the downside a

The price of crude oil settled at $69.46, down -$3.21 or -4.42%. The high reached $73.55. The low extended to $69.02. The 50% of the move up from the low from May 4th came in at $69.19. The price lows for the day also moved below the swing low from mid-June near $69.42, but the

USDJPY below 100 hour MA The USDJPY has fallen below its 100-hour moving average at 139.949 and close below that level over the last 2 hourly bars. The price of the pair last close below that moving average on May 12. The last cycle low was on May 3 at 133.492. The high price today

Dollar index with the 50 day and 200 day moving averages Bank of America (BofA) has shared insights into 8technical strategies based on historical performance data, revealing a variety of potential investment patterns. Key findings include: Golden Cross: This event, when the 50-day moving average (MA) crosses above the 200-day MA, tends to precede rises

Are you ready to delve into the world of Bitcoin trading? In this Bitcoin technical analysis and trade idea for May 29, 2023, I will provide you with valuable insights into the current market conditions. By exploring the upward channel and volume profile, we will help you identify potential entry and exit points for your

The EURUSD was moving higher in pre-data trading with the price moving toward resistance levels on the hourly chart. The US data was largely stronger than expected, turning the USD back to the upside (the EURUSD lower). That move kept the bias pointing to the downside for the pair. Resistance comes between 1.07509 and 1.0764

The USDJPY dipped to the 50% midpoint of the range since the 2022 high after breaking above that level yesterday. The corrective move dipped just below that level but found buyers ahead of the better-than-expected US data. That data sent the USDJPY back to the upside. The buyers remain in full control. Stay above the

GBPUSD falls back toward lows for the week The GBPUSD moved higher in trading today held by better-than-expected retail sales. The price extended up to and through the falling 100-hour moving average currently at 1.23839 (blue line in the chart above). The price also entered into a swing area that has a number of different

S&P index tests its 100 week moving average The S&P index is trading up 45.11 points or 1.08% at 4196.40. Its high price reached 4202.92. That took the price back above its 100-week moving average at 4200.13. Last week, the price also moved above that moving average level, but closed just below it at 4191.99.

NZDUSD tumble lower this week The NZDUSD has tumbled 3.6% this week with the last 4 trading days to the downside. That is the biggest move lower since September 19, 2022. This week, the RBNZ raise rates by 25 basis points, but the hike was considered dovish as signals of a pause surprised the market.

The strongest of the weakest of the major currencies The AUD is the strongest and the USD is the weakest as the North American session begins.. The currencies are seeing a rebound versus the greenback after the declines this week despite concerns about the US debt ceiling all week. As the deadline for the U.S.