Technical Analysis

The US major indices are closing mixed with the Dow down for the 5th consecutive day in what was an up-and-down trading day for it. However, the S&P closed higher. The Nasdaq index surged 1.71% as Nvidia led to the flow of funds into it and other AI type stocks. Nvidia rose 24.37% Microsoft rose

On the daily chart below for Gold, we can see that gold is pulling back all the way down to our projected target at the 1934 level where we can also find the 50% Fibonacci retracement level and the trendline. The correction started once Gold reached the record high at 2076 and we got a

USDJPY moves closer to the 50% midpoint The USDJPY has continued its move to the upside and in the process is moving closer to the 50% midpoint of the move down from the 2022 hide to the 2023 low. That level comes in at 139.574. The high price has reached 139.381 so far. The current

NZDUSD trades around 100/200 hour MA The NZDUSD pair has been trading at lower rates today, slipping beneath its 100-day moving average at 0.62734 and 100-hour moving average of 0.6259. However, it’s been fluctuating around its 200-hour moving average of 0.62505 and is currently positioned at 0.6247, indicating a slight downward bias. As we approach

The AUDUSD is looking to end the day near lows. Stocks moved lower. The USD moved higher. Risk off flows? Maybe a little. In this video, I talk about the technicals that are dominating the price action in the pair. The 100-hour MA has seen price action above and below over the last 3 trading

On the daily chart below for USDCAD, we can see that after bouncing again near the 1.33 handle and rallying back to the 1.3553 resistance, the price action became a bit choppy between the 1.34 handle and the 1.3553 resistance. The market is waiting for further economic data to decide where to go next. The

NZDUSD bases against 100 hour MA/swing area The NZDUSD – like a number of other currency pairs – is mired in a narrow trading range. The pair has a low-to-high trading range of only 35 pips. The average of the last 22 trading days (around a month of trading is 59 pips. The market is

The major European indices closed higher on the day and higher for the week. German DAX closes at a new all-time high For the German DAX, a close the week at 16275.37. That was good enough for the highest close on record surpassing the previous high close value from January 5, 2022 at 16271.75. The

Gold is back above key swing area. The price of gold this week has seen a decline of -1.4% or $-28.42 at current levels of $1982.58. Although lower, it was even lower this week. Today’s price is up $25 or 1.28%. A lower dollar and interest rates in the US have helped to spur a

In this analysis, I will provide a detailed technical analysis of Tesla’s stock price forecast, accompanied by a trade idea that utilizes a unique Fibonacci entry method. I discuss the recent price movements, identify potential patterns, and suggest a trade strategy for traders considering a Long position with TSLA stock. Please note that trading involves

Crude oil back below 100/200 hour MA. The price of WTI crude oil futures is settling at $71.55. That’s down $0.31 or -0.43%. The high price today reached $72.58. Looking at the hourly chart the high price today stalled within a swing area between $73.50 and $73.89. The last 6 trading hours saw the price

US 2 year yield is up sharply this week and above 100 day MA The US 2-year yield is up about 30 basis points on the week trading at 4.296%. The high-yield today reached 4.349% the highest level since March 15, 2023. The move to the upside this week is the largest gain since the

EURUSD back below 100 day MA The EURUSD is rotating back lower in the US afternoon. The pair moved higher as Fed Powell (may not have to tighten as much due to banks slow lending), and the debt ceiling talk stall sent rates lower and the USD lower with it. Technically, the price for the

NZDUSD fall below 100 hour. Seller take control. The NZDUSD traded up and down during yesterday’s trade. The low for the day stalled against an upward-sloping trendline. Highs for the day stalled within a swing area between 0.6258 and 0.6273. The price high from yesterday (0.6272) also stayed below the 100-day moving average currently at

USDCHF moves up to test 38.2% and swing low from February The USDCHF ran to the upside with the broader dollar buying and the pair moved up to a high price of 0.9062. That took the price just above the 38.2% retracement of the move down from 2023 high. That retracement level comes in at

NZDUSD stalls ahead of 100 day MA today The NZDUSD moved to a new high for the weekend in the process extend above the 38.2% retracement of the move down from last week’s high to last week’s low. That level comes in at 00.6258. That high price stalled against the high of a swing area

The USDCAD has been moving up and down in recent trade including today. However, the price has seen the pair from the high move below the 100 day MA, the 100 hour MA, the 200 day MA but has been able to find support buyers at the 200 hour MA. Can the last MA now

USDCNH trades to a new 2023 high The offshore yuan (CNH) has hit a new low for 2023, with the USDCNH reaching a high of 6.9981, surpassing the previous high of 6.9951 from March 8. This movement was partly influenced by overnight economic data from China, which painted a concerning picture of a slowing economic