Technical Analysis

AUDUSD retraces most of gains from yesterday The AUDUSD moved higher during Monday’s trade stepping toward the 38.2% retracement of the move down from last week’s high to last week’s low. That level came in at 0.67047. The high price yesterday reached 0.67083 before stalling and moving sideways into the close. The closing price yesterday

USDCHF falls from the 200 bar MA on the 4-hour chart The USDCHF moved higher on Friday and in the process extended to the 200 bar moving average on the 4-hour chart (green line currently at 0.85749). The price moved above that moving average toward the end of the day on Friday and into the

USDCAD finds support against cluster of moving averages In an earlier post, I commented how the USDCAD fell below a key swing area (old floor) between 1.3517 and 1.35266, and the 100-day moving average . I commented: Technically if the price can stay below the 100-day moving average, that is the best-case scenario for the

USDCAD moves above 100 day moving average The USDCAD is extended to a new session high and in the process testing/moving above the 100-day moving average at 1.35116. Just above that level is a key swing area floor that stalled the market between April 21 and May 5. That area comes between 1.3517 and 1.35266

The USD has pushed to new highs as the market reacts negatively to the five-year inflation expectations from the Michigan sentiment index which rose to 3.2% from 3.0% last month. The level is the highest since 2011. That has spooked the market. Yields are moving higher: 2 year 3.980% +7.5 basis points 10 year 3.442%

The DXY index is breaking outside of range since April 11 The DXY is making a break for it today. Looking at the DXY hourly chart above, the price has moved above the swing high from May 2 at 102.40 and is breaking outside of an up-and-down trading range mostly between 101.00 to 102.40 (see

The EURUSD is trading to new session lows as a selling/bearish bias increases. In trading this week, the pair broke outside of a 4 – 5 week trading range. What was key was a corrective high back to that breakout level, and found willing sellers. That gave sellers the go-ahead to push lower. What next

The USDJPY traded up and down this week with clearly defined support and resistance levels. When a break higher failed earlier this week, the price rotated lower. However, the low found support against a key MA level, giving the buyers the go-ahead to re-probe the upside. On Friday, May 12, the price moved above a

WTI crude all features are settling the day and the week at $70.04. The price is down -$0.83 or -1.17%. The low price reached $69.93. The high price reached $71.78. For the trading week crude oil prices are down $1.28 or -1.79%. That is the 4th down week in a row. From the swing high

Dow back below 100 day MA The major stock indices are creeping lower with the Dow leading the way to the downside. A snapshot of the market currently shows Dow industrial average -332 points or -1.0% at 33198 S&P index -20 points or -0.48% at 4117.10 NASDAQ index -7 points or -0.06% at 12299.50 Looking

The AUDUSD fell sharply today after an initial move higher found will sellers vs the 100 day MA. The subsequent fall has now taken the price below the 200 day MA at 0.6725. That MA along with the 200 hour MA is now risk for sellers. Stay below is more bearish. The price is currently

NASDAQ breaks above the ceiling The NASDAQ index is trading to a new session high. The new high comes in at 12337.69. The current price is trading at 12326.78 up 147.6 points or 1.21%. Looking at the hourly chart, the move to the upside today is moving away from a ceiling area between 12245.43 and

WTI crude oil futures are settling lower on the day WTI crude oil futures are settling at $72.56. That is down -$1.15 or -1.56%. The high price reached $73.89. The low price was at $71.80. Looking at the hourly chart, the low price today reached toward its 100 hour moving average currently at $71.70. Moving

Gold moves back above its 100 hour moving average The price of gold reached a new session high in the US afternoon session. The high price reached $2037.52. The current price trades at $2034.50 up $14.27 or 0.72%. Looking at the hourly chart, the price has been skimming near the 100 hour moving average on

Crude oil runs back above the 200 hour moving average The price of WTI crude oil futures have reversed course and then back above its 200 hour moving average at $72.62. A report saying Russia said its oil output cuts almost hit its pledged goal in April, turned sellers into buyers. The high price is

The major US stock indices are ending the session with mixed results in what has been a quiet Monday. The Dow industrial average fell modestly. The S&P was near unchanged, and the NASDAQ index rose modestly. The final numbers are showing: Dow industrial average fell -55.71 points or -0.17% at 33618.68 S&P index rose 1.87

EURUSD dips back below 100/200 hour MA. In the earlier video, I spoke to the 100/200 hour MAs as being key barometers for the short term bias in the EURUSD (see video here). As long as the price remained above the moving averages, the bias was bullish. A move below and the bias would shift

The USDCHF moved to the lowest level since January 2021 this week, but found support buyers against state support area from the end of 2020/early 2021. In trading today, the pair got a boost from lower Swiss CPI inflation. That took the price above the 200 hour moving average or support buyers leaned. The US