Technical Analysis

The 2 year yield got within 4 bps of its 200 day MA The USDJPY is reacting higher on the back of the move off lows in yields. The 2 year yield (see chart above) moved back up to 4.266% from an intraday low just below 4.00% at 3.997%. The yield is now only down

NZDUSD trades between 100/200 hour MAs The NZDUSD squeezed higher with the lower USD, and in the process moved above the 100 hour MA, and the 200 day MA at 0.6166. However, the run higher stalled near the 200 hour MA at 0.61737, a downward sloping trend line (near the same 0.61737), and just ahead

The Dow Jones Industrial Average (DJIA) is one of the most widely recognized stock market indices in the world. It tracks the performance of 30 large-cap American companies and is often seen as a barometer of the overall health of the US economy. In this Dow Jones futures video, i duscuss the technical analysis of

USDCAD trade between technical levels near highs. Canada also released jobs data today. It was a better than expectations, but the SVB news defined the price action. That sent the flight into the safety of the USD. The USDCAD moved lower, but the low on the hourly chart above, stalled at the trend line connecting

NASDAQ index is below is 100 day moving average The NASDAQ index is now down over 200 points or -1.83%. For the week the index is down by -4.75%. That’s the worst week since October 31 when the index fell -5.65%. Technically the price has dipped below the 100 day moving average at 11136.58. The

The price of WTI crude futures are settling at $76.68. That’s up $0.96 or +1.27% The low today reach $74.77. The high extended to $77.11. The lower dollar/lower rates help to send the price back to the upside. Other commodities also gained with gold up $36 or 1.99%. Silver was up $0.42 or 2.13%. For

The US dollars sharply lower against all major currencies The USD is moving to new session lows against all the major currencies. The dollars declines are the greatest versus the CHF and the GBP (see chart above). The USDCHF is now down close to -1.55%. The greenback is lower by -1.52% against the GBP. The

As the stock market moves toward the close at the top of the hour, the three major indices are below their 200 day moving averages: Dow Industrial Average fell below its 200 day moving average of 32392.57. It currently trades at 32321.35. The Dow Industrial Average is now well below its closing level from 2022

GBPUSD squeezes higher The GBPUSD has seen additional momentum to the upside after breaking above its 200 day moving average currently at 1.19039 and the old floor between 1.1914 and 1.1922 (see green number circles on the chart above). The high price has extended up toward the falling 100 hour moving average at 1.1935. The

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USDJPY retraces toward 50% of the weeks range The USDJPY has moved to a new low for the day and in the process has moved back below the highs from last week between 136.91 and 137.095 (see yellow area in the chart above). Technically, the price is also moving back toward the midpoint of this

EURUSD continues to trend lower The EURUSD has a 148 pip trading range now. That is well above the 22 day average of 80 pips (about a month of trading). Technically, the price cracked below both the 200 hour MA and trend line support at 1.0613 soon after the Fed Chair prepared remarks. There was

AUDUSD falls below the 50% midpoint The AUDUSD is continuing to move to the downside after the “dovish hike” of 25 basis points by the Reserve Bank of Australia overnight. Coming into the US session, the price was stalling near the 50% midpoint of the move up from the October low. That level has now

The US stocks opened higher, went even higher, but then gave up all/most of the gains into the close. The S&P and Dow did close higher for the 3rd day in a row. The Nasdaq 2-day win streak was snapped. The final numbers are showing: Dow Industrial Average was 40.45 points or 0.12% at 33431.43

AUDUSD falls below the 100 hour/ 100 day MAs The AUDUSD closed on Friday just above its 200 hour MA (green line in the chart above near 0.67587). A close of a week above a MA by a few pips can be misleading. It could simply be end of week position squaring. The trading price

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Stocks are looking good (jinx). Just when you thought the major indices were setting up for a tumble lower, a regional Fed president (Bostic) comes in and says something less hawkish than the rest (Waller, Mester, Kashkari), and its risk-on all the sudden. Technically, the major indices have also dug themselves out of bearish holes.

The price of WTI crude futures is settling at $71.68 That is up $1.52 or 1.94%. The high for the day reached $79.73. The low reached down to $75.83. The price action today was influenced by a report earlier in the day that the UAE was contemplating leaving OPEC. That sent the price sharply lower.