Technical Analysis

EURUSD was back to converts 100/200 hour moving averages The EURUSD was a trading near the converts 100/200 hour moving averages before the US jobs report. The data push the price down to support near the 50% retracement at 1.09632 (and a swing area we would between 1.0961 and 1.09653). The fall stalled. The price

S&P 500 E-mini Futures Weekly Technical Analysis: A Simplified View In this technical analysis of the S&P 500 E-mini futures , we focus on the weekly timeframe to provide a clear and simplified picture without using numerous indicators. The aim is to decrypt the story the S&P 500 is telling and identify potential entry points

The major US stock indices are continuing their run to the upside with the NASDAQ index leading the way with again over 2%. The Dow industrial average is up 1.4%. The additional gains come after Fed’s Bullard said that policy changes don’t have to end with a recession (he does not have a recession as

GBPUSD tests swing area high from April to June 2022. The GBPUSD has reached the high today of 1.2652. The current price is trading at 1.2642. At the high, the price got closer to its swing high going back to May 8, 2022 near 1.2665. A move above that level would have traders targeting this

The USDCAD is moving closer to its 200 day moving average at 1.3440 after a couple days of steady selling in the pair. Higher oil prices have contributed to the Canadian dollars strength. The price of oil intraday yesterday reached a low of $63.70 yesterday. It is trading above $71 today. Will buyers come in

Gold traded to a new all-time high today Gold prices reached a new record high today. Spot gold rose to a record high of $2,081.82 per ounce. That move took out the 2022 and 2020 highs between $2070.59 and $2075.14.. The current price trades back below those levels that $2049.87. That’s still up $7.07 or

The USDJPY is moving to a new session low and in the process is moving away from the 50% midpoint of the move up from the April low to the May high reached earlier this week. The midpoint level comes in at 134.177. The current price trades at 134.00 . The next target comes between

USDCAD falls to moving average and a swing level target. The USDCAD has seen the price move down to test key support near the convert 100 and 200 hour moving average at 1.3587. Below that is a swing level near 1.35825. The low price reached 1.3581 just below those levels, but has bounced back higher.

AUDUSD wanders toward 100/200 hour MAs The AUDUSD has moved up and down today but is trading marginally lower on the day. The low – reached in the last hourly bar – moved to a new intraday low of 0.6649. That took the price closer to the 200 hour MA at 0.66457 and near the

GBPJPY failed on the break to new highs going to 2016 The GBPJPY has moved lower today, after the high today took out the high from October 2022, and traded to the highest level since 2016, but quickly failed. The high from 2022 reached 172.118. The high from today reached 172.314. However, momentum stalled and

GBPUSD below 50% and 200 hour moving average. Close risk. The GBPUSD has maintained its downward trajectory today, following yesterday’s significant drop from a new 2023 high of 1.25833 on Friday. Yesterday’s decline brought the pair down to its 100-hour moving average (blue line), where buyers halted the fall. The low reached 1.24797 before consolidation.

AUDUSD falls back toward the 100 hour MA The AUDUSD moved higher in trading today. In the Asian session, the price extended above its 100 hour moving average (blue line in the chart above), and that ignited more buying interest early on. The momentum picked up as the US session began. That momentum took the

USDJPY extends to the 200 day moving average The USDJPY experienced a significant uptrend last week following the Bank of Japan (BOJ) President Ueda’s decision to maintain the current interest rates. As shown in the 4-hour chart, the currency pair reached a peak of 136.55 on Friday before retreating slightly to close at 136.285. The

Nasdaq Futures Technical Analysis Overview Recent pivot point at 10,735 on 10th October, marking the low of last year Gradual rally, picking up pace over time Weekly timeframe showing a break above the yellow channel, signaling a bullish trend Last week’s low did not reach the 20 EMA, suggesting continued strength Key Levels and Price

GBPUSD holds above 1.2500 The GBPUSD is stretching to the upside and in the process is taken closer to the high price from April 14 at 1.25462. That high is the highest level going back to June 2022. A break above would increase the bullish bias. Looking at the hourly chart above, a swing area

AUDUSD rebounds after break to new low fails. The AUDUSD experienced a decline during the Asian and early European trading sessions, following a successful test of the 100-hour Moving Average (MA) during the initial upward movement (refer to the blue line on the hourly chart above). This prompted traders to lean against the risk-defining level,

USDCAD trade between swing areas today The USDCAD has experienced a sharp decline and is currently testing a swing area between 1.3553 and 1.35638. The 200-bar moving average on the 4-hour chart is located within this range at 1.35594. The price dipped to 1.3550, just below the low of the swing area, but only saw

Crude oil rotate toward the 100 hour moving average The price of WTI crude oil futures are extended to the upside and in the process breaking up back above its 100 hour moving at $76.43 (blue line in the chart above). Stay above would have traders looking toward the 200 hour moving average currently at