Technical Analysis

GBPUSD below the key swing area up to 0.6680 As stocks continue to run lower, with the Nasdaq down -220 points or near 2% and the S&P donw -76 points or -2.04%, the AUDUSD is continueing to take it on the chin. The pair is down -1.52% on the day which is only eclipsed by

The dollar is king with the EURUSD trading to the lowest level since 2002. The GBPUSD traded to the lowet level since 1985. The AUDUSD, NZDUSD and the NZDUSD traded to the lowest level since the 2020 pandemic plunge. Even the USDCHF rallied despite the 75 basis point hike. The USDJPY rebounded Friday and is

The Dow is below some key levels The Dow industrial average is trading down -624.73 points -2.08% at 29449.59. The low price reached 29439.48. The move to the downside has now taken the price 20% from its high reached on January 3. The Dow industrial average has entered into bear market territory. Also, the price

NZDUSD falls to lowest level since March 2020 The NZDUSD closed the week ago at 0.5990, just below the important 0.6000 level. The price has moved lower this week. The high a Monday reached 0.60007 – call it 0.6000. The price just reached a new low of 0.57498. From the high, that’s a decline of

The major US indices are opening lower, but off the pre-market lows as yields in the US come off after reaching 3.829% in the 10 year (now at 3.703%), and 4.268% in the 2 year (now at 4.137%). The Fed is targeting 4.4% for the end of year level. The stocks have seen some rebound

NASDAQ index The Nasdaq index traded to an intraday lows at 11024.64. That took the price below the 200 week MA at 11096.17. However, since bottoming the price has moved back above the key 200 week moving average. The current price is trading at 11109. That is still down -109 points or -0.97%, but at

The NZDUSD is seeing some technical rebound after reaching the lowest level since March 2020. Looking at the hourly chart above, the price fell below a downward sloping trendline on its way to a new low going back to March 2020 at 0.58029. However the price has rebounded back to the upside and in the

The FOMC raised rates by 75 basis points and also sent the market a warning that they see even higher rates than the market expects. The price action saw the dollar move higher initially , but then down as comments in the presser showed less hawkishness from the Fed chair. However, as the dust settled,

The strongest to the weakest of the major currency pairs The CHF is the strongest and the EUR is the weakest as the NA session begins. The CHF is gettting some kick to the upside from flight to safety flows o n the news of Putin’s calling of the reserves to mobilize (first time since

USDCAD runs from the 50% midpoint and swing area low In an earlier post I pointed out the break into a swing area between 1.3327 to 1.33839. The price also moved above the 50% retracement. IN the post I said: “A move back below the 1.3327 level would probably not be welcomed in the short-term.”

The strongest to the weakest of the major currencies As the North American session begins, the GBP is the strongest of the major currencies while the NZD is the weakest as it continues to move to new year lows and test the 0.5900 level vs. the US dollar. The NZD is the runaway weakest of

EURGBP holding the 50% of the range since the Sept 2020 high The EURGBP moved above the 50% of the move down from the September 2020 high to the March 2022 low. The 50% level comes in at 0.87465. The low today reached 0.87465 right at that level. Traders look at the 50% as a

AUDUSD falls to lowest level since 2020 pandemic The AUDUSD has traded to a new 2022 low of 0.6669 and in the process has moved to the lowest level since end of May/early June 2020. The move took the price into a swing area going back to before the pandemic in 2019 and after the

EURUSD rebounds off of support. Parity & other targets loom The EURUSD is extending to the upside and looks toward the 200 hour MA at 1.00091 level. Helping is a dip in US yields. The 2 year is off yet another high at 3.924% at 3.89%. The 10 year is now lower on the day

USDJPY below the 100/200 hour MAs The USDJPY has been trading above and below the 100/200 hour MAs today, with the most recent swing being to the downside. The MAs are converged at 143.29. In the early hours of the New York session, the price extended briefly above that level up to 143.34, but could

Breakout or Fakeout? There are reasons to see the USD moving even higher after 4 currencies made new multi-year lows vs the USD last week. Can the USD buying momentum continue in the new trading week?. In this video, Greg Michalowski, talks of the breaks and why they occurred and then looks at the technicals

Gold trades to the lowest level since April 2020 The price of gold is up around $10 on the day. The current price is trading at $1674.11. The high price reached $1680.41. THe low extended to the lowest level since April 2020 to $1654.28. The rebound has taken the price back into a swing area

USDCHF stalls at the 200 hour MA The USDCHF has chopped higher in trading today. The pair started the day near a swing area at 0.9591 to 0.9606 after breaking back above the 100 hour MA yesterday and closing above. The low in the Asian session stalled the fall in the 0.9591 to 0.9606, moved