Technical Analysis

On the daily chart below for USDJPY, we can see that after breaking out of the minor downward channel, the price kept on rising slowly towards the 135 handle. Most of the selloff after the Silicon Valley Bank collapse has now been erased as the banking crisis has faded. The price is now near the

USDCAD moves to a new high but 200 day MA looms USDCAD buyers are currently pushing the price higher, with resistance encountered near the 38.2% Fibonacci retracement level of 1.33963, which is just below the 200-day moving average at 1.3400. In the past 4 hours, the lowest trading price reached 1.3381, while the highest was

On the daily chart below for GBPUSD, we can see that the last two tries from the buyers of breaking above the top of the range and sustain a bullish trend failed. The first one failed due to bad top tier US economic data that scared the market and turned the sentiment into risk-off. The

EURUSD sees a modest rebound off lows The EURUSD is seeing a modest move to the upside as stocks rebound, and so is the EURUSD. The EURUSD sold off fairly hard in the NY session moving from 1.09837 which was just below the 100 hour MA. That hold under that MA kept the sellers in

GBPUSD falls to trendline support In a previous post on the GBPUSD, we discussed the breaking of the converged 100/200 moving averages and the swing area down to 1.24208 in GBPUSD . A further decline would target the upward sloping trendline and Wednesday’s low near 1.23974. Currently, the pair is testing this low and the

EURUSD stalled between cluster of swing area The EURUSD selling continued into the morning session and in the process moved into a swing area defined by the 100 hour MA at 1.09664, and the 38.2% up at 1.09818. In between was the high from last week at 1.09728.. The low stalled at 1.09717 right near

In this article, we will explore wheat futures technical analysis and provide a price forecast based on current market trends. We’ll also discuss potential trading strategies and risk management for those interested in wheat-related assets. Wheat futures breakout of an ascending wedge on the 4-hour time frame Next probable target: 700 round number Potential retest

In this video, I look at the recent S&P 500 technical analysis and provide a price forecast based on the findings (spoiler: IMHO, we are headed to 4200). A surprising selloff occurred following a rally on Friday, and we’ll explore the reasons behind it while considering possible future price movements. Key Points within the S&P

Crude oil settles higher on the week The price of crude futures settled up $0.36 at $82.52. The high price reached $83.12. The low price reached $81.76. The price this week moved up $1.82 or 2.24% The high price this week reached $83.53 reached on Wednesday. That happens to be the falling 200 day moving

Gold falls below 100/200 hour MA The price of gold has tumbled today with the sharp rise in the USD today. The price moved down -$47.68 at session lows today. The price is currently down -$32.74 which is still down -1.60%. The current price is at $2007.40. The low reached $1992.59. Looking at the hourly

USDCHF has its worst week since November 2022 The USDCHF is down -1.82% this week or -165 pips. That is the biggest move lower in the pair since the week of November 7 when the pair fell -5.3%. The decline this week would be the 4th week in a row lower. That 4 week run

WTI crude oil tested 200 day MA and found willing sellers The price of WTI crude futures are selling at $82.16. That’s down $1.10 or -1.32% on the day. The high price reached $83.44. The low price extended to $82.24. The high price today installed about $0.23 short of the following 200 day moving average

NASDAQ index cracks below its 100 hour moving average The NASDAQ index is trading at new session lows, with the price reaching 11935.04. The current price stands at 11936.80, down -96 points or -0.80%. Technically, the decline has pushed the index below its rising 100-hour moving average, currently at 11961.50. This marks the first time

WTI crude oil futures moved toward its 200 day MA The price of WTI crude oil is settling at $83.26. That’s up $1.73 or 2.12%. The close is the highest close since we were 16th 2022. The price moved above the 2023 high at $82.66 going back to January 18 and the December 1 high

USDCAD moves to a new intraday low The USDCAD ticks to a new low less than 24 hours until the BOC rate decision at 10 AM ET tomorrow. The central bank is expected to keep rates unchanged with a 10% chance of a 25 basis point hike. For most of the North American session, the

US yields are moving higher and it is leading to a back to the upside in the US dollar: 2 year yield is at 4.064% up 5.6 basis points. 5year yield is at 3.566% up 4.7 basis points 10 year yield is at 3.448% up 3.4 basis points 30 year yield is at 3.635% up

NZDUSD moves back above a swing area The NZDUSD is lower on the day. The low price today moved below a swing area on the hourly chart above between 0.62019 and 0.62108. It also fell below the low price from Friday’s trade 0.6208. The low price extended to 0.619256 in the early US session, but

The price of WTI crude oil futures are settling the day back below the $80 level at $79.74. That’s down $0.96 or -1.19%. The low price reached $79.61. The high price was about $81.22. WTI crude oil is settling below 100 hour movie average Looking at the hourly chart above, since gapping higher after the