Technical Analysis

Q1 Revenue Estimate: $11.1 billion (40% decline YoY) EPS $-0.15 versus $0.87 in Q1 2022 client computing $4.9 billion versus $9.3 billion in 2022 Q1 Loss Estimate: $3.2 billion PC Shipments: 29% decline YoY Data Center Division Sales: $3.5 billion versus $6.0 billion in 2022 (42% decline YoY) Intel Corp. is expected to report its

NZDUSD consolidates an up-and-down trading between levels The NZDUSD has experienced a rollercoaster of price action today, with values initially staying above yesterday’s low of 0.61107 before climbing higher. This upward momentum managed to surpass a critical swing area between 0.6119 and 0.61266, as sellers became buyers. During the Asian and early European sessions, the

On the daily chart below, we can see that the gap that was caused by the surprise OPEC+ production cut was filled yesterday as the price of oil kept falling hard since the rejection from the top of the range at $83. The market is increasingly bearish on the black gold as the global economy

Meta will announce their earnings after the close. The estimates for its Q1 2023 earnings: Revenue: $27.67 billion EPS (Earnings Per Share): $2.01 Advertising Revenue: $26.76 billion Family of Apps Revenue: $26.88 billion Reality Labs Operating Losses: $3.8 billion Meta has been focusing on improving its efficiency and cost-cutting measures. The company previously announced layoffs,

On the daily chart below, we can see that the long period of choppiness since the March banking crisis seems to be ending. After a brief spike to the 0.6389 resistance caused by the bigger than expected RBNZ hike, the market turned lower, and the price started to make lower lows as the US data

WTI crude oil The price of WTI crude futures settled at $77.07. That is down $1.69 or -2.15%. The low price today reached $76.50. That move took the price below the 100 day moving average at $76.85 (blue line in the chart above). However, the price momentum could not be sustained and the price rotated

On the daily chart below for USDCAD, we can see that after breaking down the 1.3664 support, the market has been on a strong downtrend. Last week though the price has broken out of the trendline and the resistance at 1.3405 and started a strong rally to the upside targeting the 1.3553 level. The moving

GBPUSD moves above swing area The GBPUSD has successfully risen above last week’s high of 1.24736. This recent peak aligns with a notable swing area dating back to April 12th (as indicated by the red numbered circles). In today’s trading session, the currency pair surpassed the swing area, fluctuating between 1.2471 and 1.24763, and eventually

Just when you think the data might be to tipping lower, the S&P/Global flash PMI indices , come in higher than expectations. The 2 year yield moved from down about 5 or so basis points to up 1.8 basis points currently at 4.183%. The 10 year yield is now up 2.1 basis points at 3.566%.

A number of major currency pairs vs the USD had very low ranges in trading last week. The non-trending nature of the price action will have traders anticipating something more in trading this week. That would involve breaks of key technical levels. In this weekend technical report, Greg Michalowski of Forexlive.com discusses this dynamic and

USDCHF keeps lower bias below 100/200 hour MA. The USDCHF moved to a new low for the week ahead of the US flash PMI data. The prior low was a 0.8920. The new low extended to 0.8907. However, that break was short-lived and the data release led to a bounce higher and to a new

GBPJPY snaps back higher The GBPJPY rotated to the downside yesterday, and in the process moved down toward the rising 100 hour moving average along with a upward sloping trendline (see post from yesterday). The price stalled near those levels into the close. In the early Asian session, the pair broke below the level and

USDCAD has moved up 5 of 6 days Whereas, currency pairs like the EURUSD and the GBPUSD has had its share of of ups and downs this week, the USDCAD has been trending more to the upside. The pairs is up 5 of the last 6 trading days after bottoming on Friday at 1.32996 (call

GBPUSD trades in the most narrow range since November 2021 The GBPUSD is back higher, erasing all of day’s declines and trades back at/near unchanged. The move back higher has taken the price back to the 200 hour MA at 1.2440. The high just reached 1.24418 and the current price is at 1.2435. For the

WTI crude oil stalled against its 100 day moving average WTI crude oil futures settle at $77.29, declining by $1.87 or 2.36%. Throughout the day, prices fluctuated between a low of $76.97 and a high of $79.07. Examining the daily chart, the low price narrowly missed its 100-day moving average (MA) by $0.14, settling at

Th major US stock indices are rotating lower. The S&P index is traded to a new session low. The NASDAQ is also now breaking below the low from the 1st hour of trading today. Looking at the hourly chart of the S&P index the price is testing a upward sloping trend line. A move below

On the daily chart below for BTCUSD, we can see that the price has pulled back to the previous resistance now turned support. The buyers are likely to defend this level with the red long period moving average offering extra support. The sellers will pile in if the price keeps falling below this level and

The AUDUSD is consolidating with the lows and highs – along with technical levels – starting to converge. When that happens, it is time to anticipate a break and hopefully a run in the direction of the break. In this video, I outline what I mean and what levels are key going forward.