Technical Analysis

EURUSD moves closer to the 100 hour MA. The EURUSD has been consolidating near the lows over the last three hourly bars. With the 100 hour moving average moving to the upside, the price is getting closer to that moving average level. The moving average currently comes in at 1.08492 (let’s call it 1.0850 –

On the daily GBPUSD chart below, we can see that the price has finally reached the top of the range at the 1.24 handle. This will be a key level for both buyers and sellers. The buyers will need to break above the level with conviction to keep the rally going. The sellers are likely

GBPUSD moved to new highs heading into the close The GBPUSD moved to new highs heading toward the close. The price has reached 1.23919. That is the highest level since 2023. Looking at the hourly chart, the price is also moving away from a swing area between 1.2343 to 1.2360. That area is now risk

On the daily chart below for XTIUSD, we can see that after breaking out of the 3 month-long range, the sellers piled in aggressively dragging the price to the $64 price zone. This is where we got a bounce. The current rally may be due to the easing in fears around the banking sector and

On the daily chart below, we can see that after the big and fast rally caused by the Silicon Valley Bank collapse and the fall in real yields, gold has entered a consolidation near the previous top. We can also notice that the price is diverging with the MACD, which is generally a signal of

On the daily chart below, we can see that the USDCHF sellers leaned on the red long period moving average as the price pulled back due to the Credit Suisse crisis. As things calmed down and the bank was acquired by UBS, the CHF strengthened again as the US Dollar remained weak due to the

On the daily chart below for EURUSD, we can see that the price managed to break above the 1.08 handle as the Fed delivered on expectations although it sounded less hawkish. The reason is that the Fed is fearing that the recent events in the banking sector may slow the economy without requiring the Fed

On the daily chart below for USDCAD, we can see that after reaching the top at 1.3862, the market fell as the failure of the Silicon Valley Bank and the fears around the banking sector made the market to reprice lower future interest rates expectations dragging the US Dollar down with it. The market then

The major US stock indices are closing mixed on the day. The Dow and the S&P are closing higher. The Nasdaq fell. Higher interest rates took some of the wind out of some of the high tech mega cap stocks which become a “safe haven” through the banking crisis. Energy, financials and industrials led the

On the daily chart below, we can see that after bouncing from the broken trendline, the price just kept on rising defying any bad news. The stress in the banking sector didn’t cause any major capitulation, on the contrary, the market is now trading above the levels seen before the failure of the Silicon Valley

The last week was full of so many events and releases that it is hard to figure where to start. So as Julie Andrews sang in the Sound of Music, you start at the very beginning. In this video, I talk to the week that was that had the Fed, and the market seemingly at

GBPUSD bounces off a key support target The GBPUSD experienced a decline today, breaking below the 100-hour moving average (MA) at 1.22608 for the first time since March 17th. The pair’s downward trajectory brought it to a significant swing area between 1.2191 and 1.22028, with the rising 200-hour MA currently situated at 1.21952 – within

USDCAD breaks out of the up and down range today The USDCAD experienced considerable volatility during the first four days of the trading week, with the price action reflecting significant fluctuations. The red box in the chart above highlights this week’s trading range, characterized by sharp ups and downs over the first 4 1/2 days.

AUDUSD falls a new low today The AUDUSD has exhibited a series of ups and downs since last Friday, with the “ups” encountering resistance between 0.67239 and 0.67296 for the majority of the week. Buyers attempted to push the price up on Wednesday and Thursday, driven by volatility from the Fed rate decision. These upward

WTI crude oil is higher on the week The price of WTI crude oil futures is settling at $69.26. That’s down $0.70 or -1.0%.. The low-price reached $66.82. The high price extended to $70.38. For the trading week, the price is up $3.47 or 2.32% from the close last Friday. Looking at the hourly chart

2 year yields looking to close at lowest level since Sept The US two year yield continues to push to the downside with the yield reaching a low of 3.787%. Closing below 3.848 today would be the lowest close going back to mid September 2022. Looking at the daily chart, the yield would also close

EURUSD falls below 1.0866 The EURUSD moved to new session lows. The move to the downside picked up steam on the break below the swing area between 1.0866 to 1.0886. The price has moved to a low of 1.0823 and looks toward the 1.0800 area (1.0799 to 1.0805) as the next target (blue numbered circles).

AUDUSD sits between the 100/200 are moving averages The AUDUSD is trading between its 100 hour moving average (blue line) above, and 200 hour moving average (green line) below ahead of the FOMC rate decision. Those moving averages will help define the more bullish or more bearish bias. There are a number of swing levels