Technical Analysis

NZDUSD tests the 200 hour MA and stalls The NZDUSD moved up today and in the process, the price moved up to test the 200 hour MA at 0.6362. The sellers leaned against the level and the price has modestly come off the MA level. In the new trading day, the swing are between 0.6345

AUDUSD approached topside target resistance The AUDUSD has continued a run higher in trading today which has the pairs trading range at 81 pips. That is just 3 pips short of the 22 day average (about a month of trading). That run higher has started to hit upside targets. The first is the 38.2% of

Technical Analysis Russell 2000 Technical Analysis I look at key price levels for the bulls. Itai Levitan Sunday, 12/02/2023 | 07:35 GMT-0 12/02/2023 | 07:35 GMT-0 This article will give some insights on the technical analysis of the Russell 2000, as well as a deeper look at the important indicators that traders and investors should

USDJPY technical analysis: Looking at the phases of the market cycle using bull and bear channels Bull channels are price trends with higher highs and higher lows. In a bull market, prices bounce off the lower trendline and rise toward the higher trendline. In times of economic development and investor confidence, financial assets are in

S&P index erases early declines The S&P index has erased earlier declines and trades modestly higher. The index is currently up five points or 0.13% at 4086.68. The high price reached 4090.58. Recall that the swing highs from December stall that 4100.51 and 4100.96. Those levels will be eyed for a short-term bullish clues. Get

EURUSD falls below the support @1.0711.Stay below is bearish The EURUSD is ticking to a new session low taking out the earlier low for the day at 1.06806. The low price just reached 1.06782. It is not running but a new low is being made. Helping the downside today is the break below the the

Crude oil moves close to 100 day MA The price of WTI crude oil futures are selling at $79.72. That’s up $1.66 or 2.13% The high price reached $80.33. That was the highest level since January 30. The low price was at $77.47. For the week, crude oil is up $6.94 or 8.49%. Ever since

AUDUSD trades up and down today The AUDUSD is trading in a non-trending up and down trading range as the week moves toward a close. The low for the week was reached on Monday. On that day, the pair moved below a swing area between 0.6909 and 0.6925. The momentum took the pair below another

USDCAD moves higher ahead of the jobs report tomorrow The USDCAD moved above its 100 hour MA in the late US morning, after successfully testing it in the London morning session and falling back to the 200 hour MA (green line). The holding of that 200 hour MA was the go-ahead to push back higher.

AUDUSD falls from 200 hour MA and 50% retracement level The AUDUSD bottomed on Monday after sharp selling from the high at 0.7157 last Thursday (see hourly chart above). The 3 day fall traveled around 300 pips from the high at 0.7157 to the low at 0.6855 (302 pips to be exact). That is a

USDCAD tests swing area ahead of the 50% midpoint The USDCAD is trading to a new high, and in the process peeked above a swing area between 1.3434 and 1.3445. The swing area goes back to early January. The price of the pair has been above and below the area since then (see red numbered

GBPUSD moves back toward 100 hour MA The GBPUSD is moving back toward the falling 100 hour MA at 1.20919. The pair in the late London morning/early US session skimmed against the MA level but could not gather any upside momentum. It would take a move above that level – and stay above – to

The initial reaction was to the downside at the start/beginning of the Chair Powell Q&A. Then the dollars started to revert back higher after Powell said they may have take the terminal rate higher. Stocks reversed. US yields moved back higher. The dollar moved higher as well EURUSD: The rise in the EURUSD moved back

EURUSD down for the 4th day in a row The EURUSD has taken big steps lower over the last 4 trading days. From the high reached last Thurday, the pair has moved from a high of 1.1031 to a low today of 1.0679 for a move of 352 pips or 3.2% over that time period.

The major US indices are closing lower on the day. However, there is some sunshine technically as the S&P index is closing above the 4100 level. Recall that the 4100 level was the swing highs from December on two separate occasions. Stay above is more bullish. Move below would tilt the short term bias back

The dollars getting stronger with the greenback reaching new highs against the EUR, JPY, CAD, AUD, and NZD. The greenback is just off high levels versus the GBP and CHF as well. It has moved the most versus the JPY (up 1.24%) EURUSD: The EURUSD has moved below the 50% midpoint of the range for

The US jobs report was a “Wow” report with not much weakness. That brings a tighter Fed back in the picture. The USD moved higher, the stocks moved lower but still closed higher on the week (at least the broader indices). The US yields moved higher as well erasing the earlier declines, but have some

AUDUSD moves back to swing area The AUDUSD moved lower with the USD move up after the stronger than expected US jobs data and the stronger ISM data. The US jobs report took the price away from its 100 and 200 hour moving averages up at 0.7069 and 0.7081. In the Asian session, the price