Technical Analysis

Tesla has just reported profits that were a little bit underwhelming, and as a result, the stock price is now down slightly over 6% after hours. This makes it quite near to the even amount of $200. When a stock price is really near to a natural “magnet” that many people take into consideration, the

> Technical Analysis > PM Truss resigns.What is the GBPUSD telling us? That and more in the FX technical report. Technical Analysis A look at some of the major currencies for October 20, 2022 ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT – CONTINUE

EURUSD moves toward 200 bar moving average on 4 hour chart The EURUSD has moved to a new session high and in the process is moving toward the 200 bar MA on the 4-hour chart at 0.98515. Early this week, the price tried to extend above that moving average level on 4 separate bars on

Let’s face it…. the markets are really sensitive and that leads to weak hands on the upside and the downside. Fed’s Harker brought the markets back to reality saying that inflation will be around 4% next year and 2024 at 2.5%. Both are probably above the bulls expectations who see inflation moving down. Josh Brown,

USDJPY back above 150.00 The USDJPY tried to move down after reaching a peak of 150.079 in the early London session. The price moved lower in the NY session and traded to a new low of 149.545, as yields came off highs and stocks moved higher. However, Fed’s Harker ruined that idea saying that he

The USD has moved lower helped by a rotation off the highs in US yields. That is helping to support US stocks which are trading higher on the day. In the US debt market: 2 year yield 4.573%, +2.2 basis points. The 2 year yield reached a high of 4.614% 10 year yield 4.142%, +1.5

The Nikkei 225 opened down 1% but has quickly pared that to 0.8%. The chart shows a head-and-shoulders pattern that resolved with the fall to 25,600. We got a bounce from there up to the old neckline but we’re now getting a double top there. On a break of 26,600, I’d expect to see a

USDCAD chops up and down The USDCAD is a chopping up and down with the 100/200 hour moving averages converged near 1.3774 (see blue and green lines in the chart above). When the 2 averages converged it is indicative of a non-trending up and down trading market. Looking at the hourly chart since September 21,

The S&P index moved above its 100 hour moving average yesterday. That moving average (blue line in the chart above) comes in at 3666.77. The index moved above the moving average in the first hour of trading and stayed above it for the rest of the day. S&P index trades between hourly moving averages Today,

The strongest to the weakest of the major currencies The NZD is the strongest and the GBP is the weakest as the NA session begins. The GBP moved sharply higher yesterday but has lost some of the steam today as the market digests the actions by the new Chancelor of the Exchequest Jeremy Hunt. There

The major US indices are ending the day with sharp gains. The moves to the upside in the major indices erased the sharp declines from Friday. A lower dollar, and steady to lower yields helped the tone. A shift in some of the technicals are also a help. S&P is back above the 200 week

The USD is trading to new session lows to start the US trading session. US stocks are higher and rebounding off of the sharp declines on Friday. Yields are lower. EURUSD : The EURUSD is moving above its 200 hour moving average for the 2nd time today. Buyers are making a play. Risk is a

S&P is back below the 200 week moving average The major US stock indices are rushing to the downside and trading to new lows for the day. The NASDAQ is leading the way with a decline of over 2.00%. Coming into the day, the NASDAQ was near unchanged for the week. For the S&P index

The AUDUSD reached it’s high for the week on Monday when the pair rallied but stalled against a downward sloping channel trendline. AUDUSD falls below floor from earlier in the week That channel followed the price down to a low on Tuesday before the market started to consolidate into the CPI data on Thursday. The

What is the bias? What is the risk? What are the targets? All of those help determine the “why” for your trades including getting in and getting out. The first part of the video is a traders lesson. The second part of the video starting at 9:37, goes through the major currency pairs vs the

The weekly Baker Hughes rig count data is showing: Oil rigs +8 at 610 Natural gas rigs -1 at 157 Total rigs +7 at 769 The price of WTI crude oil is trading at $86.07. That’s down close to $3 on the day. Looking at the hourly chart, the price low today at $85.65 tested

NZDUSD on the weekly chart The NZDUSD fell to the lowest level in 2022 this week at 0.5510. That is within 44 pips of the 2020 swing low at 0.54668. The price is currently at 0.5558 about 108 pips from the 2020 low all-time low. The 2020 low is the lowest level since March 2009.

The strongest to the weakest of the major currencies As the NA session begins after the big reversal day in the markets yesterday after the US CPI report, the USD is back to being the strongest and the GBP is weakest. It is being reported in the UK that the Chancellor of the Exchequer Kwarteng