Technical Analysis

The two year yield is down to 4.041% that’s down -13.5 basis points and down from 4.13% before the Fed decision. That is driving the USD down as a first reaction. The Fed kept the target terminal rate at 5.1% the same as December. They do not see the PCE inflation moving below 2% target

The NZD is the weakest of the major currencies The NZD is currently the weakest among major currencies, with the NZDUSD pair trending downwards, down by 1.15% for the day. Consequently, various technical levels have been successively breached. The NZDUSD has moved below a number of technical levels Observing the hourly chart above, the price

WTI crude oil futures is settling at $69.33, up $1.69 or 2.55% on the day, marking the largest daily increase since February 7, 2023. Today’s high reached $69.77, while the low extended to $66.90. Examining the daily chart, the next upside target is the swing low from December 2022, which stands at $70.08. Upon breaking

NZDUSD close above the 100 day MA on Friday. Not today. The NZDUSD closed above it’s 100 day MA on Friday (blue line in the chart above). The MA was at 0.6260. The close was at 0.62636 just a few pips above the MA level. The buyers had tried to move above that moving average

GBPUSD moves into a swing area. Will traders lean? The GBPUSD has moved into a topside swing area in the 1.22608 to 1.22823 area. Looking at the 4-hour chart, there have been a number of swing lows and swing highs (see red numbered circles) including the swing high from mid- February (the last time the

While the expectations for the Fed was turned upside down, the Fed was in a quiet period, where not a word was said. On Wednesday, the Fed will be ready to speak when they announce their rate decision. Has the market gone too far, during the Feds silence? Much will depend on if the Fed

First things first, what’s the deal with the rate hike? Well, investors are split on whether the Fed will implement a quarter-point hike or hit pause. The bond market gives a 65% probability to a quarter-point boost that will raise the Fed’s policy rate to 4.75%-5%. Traders have slashed the odds of a hike, but

Crude oil keeps on testing the 200 week moving average The price of WTI crude futures reached a new week low of $65.38. That took out the low from earlier this week at $65.65. Looking at the weekly chart, the price also move below its 200 week moving average at $66.14. However the price has

JPY is the strongest and the CAD is the weakest. The JPY is the strongest and the CAD is the weakest currency today. That has the CADJPY as the biggest mover. Looking at the currency rankings above, the CADJPY has moved 1.44%. That is just ahead of the USDJPY which has moved 1.40% today. The

EUSUSD closing higher on the week IN trading today, the EURUSD moved higher in the Asian session, fell in the European morning session , and is moving higher in the US session. The move has taken the price positive on the week (it closed at 1.0636 last Friday). Ironically, the close from last week is

The major European stock indices are closing the day with sharp declines. For the trading week the indices are also lower as concerns about financial conditions in Switzerland hurt sentiment. Concerns about global growth are also weighing as is the ECB 50 basis point hike this week. Finally, the European indices have been relatively stronger

GBPUSD buyers are making a play above the 100 hour MA The GBPUSD buyers have successfully pushed the price above its 100-hour moving average at 1.21129, reaching a new intraday high of 1.2127. Examining the hourly chart above, it’s clear that breaking above the 100-hour moving average took some effort. The market initially attempted this

The US yields are moving higher with the 2 year yield up 14 basis points at 4.117%. The 10 year yield is up less with a gain of 3 bps at 3.52%. That normally is bad news for stocks, but with the 2 year yield still down from 5.085% last week, and the 10 year

WTI crude oil has rebounded 38.2% retracement The WTI crude oil futures price settled at $67.61, down $3.72 or 5.22%. Currently, the price hovers near $68, still significantly lower but recovering from the day’s low of $65.65. At that low, the price had dropped by $5.68, reaching its lowest point since early December 2021. Examining

The BTI crude oil tumbles and tests the Dec. 20 low target WTI crude oil futures are approaching the swing low from December 20, 2021, which stands at $66.12. Today’s low has reached $66.40, following a decline below the 2022 low price of $70.08. The price is currently trading down -$4.90, or -6.86%, at $66.47.

NZDUSD trading up and down The NZDUSD has recently entered a consolidation phase, poised between an upper swing area and a lower one. The upper boundary encompasses a range of 0.6250 to 0.62639 (highlighted by red numbered circles in the accompanying chart), with the 100-day moving average positioned nearby at 0.62488. As the new trading

USDCHF retraces the February run higher. The USDCHF moved sharply lower yesterday with the pair reaching to a low of 0.90706. That was within about 12 pips of the low from early February at 0.90586. Just last week the USCHF was testing the highs (and the 100 day MA as well). The move from the

The major European stock indices are closing sharply lower. The major indices could not dodge the bullet that the US indices are seemingly getting through despite the fact that the focus of the banking crisis is a centered in the US. However, these types of things always have the potential to spread. Moreover the European