Technical Analysis

USDJPY trends hard to the upside The USDJPY is continuing its trend run to the upside reaching a new intraday high 143.068. That is also the highest level since August 1998. For your guide the high price in August 1998 reached 147.67. Looking at the hourly chart the price has been up 14 the last

EURJPY breaks above a topside channel trendline The USDJPY is on fire today and that is also helping to send the JPY crosses higher as well. The EURJPY is not the exception. Looking at the daily chart, the air moved back above its 100 day moving average last week (see blue line in the chart

Gold has jumped in Asia morning trade. The USD is showing some weakness pretty much across the board, gold is getting some benefit from this. There is a little resistance around the current price, I can’t see that its of a lot of significance though. Perhaps some of the technical analysis folks would like to

My colleague Greg Michalowski has the day off for the US Labor Day holiday today but he produced a great video outlining the technical levels in play this week. I expect markets to quiet from here with OPEC and the UK PM selection wrapped up so it’s a good time to have a look at

The United States is moving toward higher interest rates at a greater level and speed than the lower Japanese interest rates, which is making dollar-denominated assets more appealing for investors. As a result, the Japanese yen has been falling in comparison to the United States dollar. But a pure technical analysis should not care. A

USDCHF double top The USDCHF is on a 5 day up streak, started last Friday. Today, the verdict is still out. The pair closed at 0.98147. The current price is below that at 0.9812 currently. The streak higher is in jeopardy. The move to the downside was started with the high stalling near the high

Russell 2000 technical analysis with a trade idea, highlighting how to scale in a trade by casting a net of orders. It is done in a special way, so there is value in watching the entire video, which also includes a review of the recent trade ideas provided last week on ForexLive.com The above video

The headlines about the pipeline shut down, has led to a kick lower in the EURUSD. The pair has moved back below its 100 and 200 hour moving averages at 1.00039 and 0.99849 respectively. The next target comes against the July 15 low price at 0.99515. A move back below that level would have traders

The major US indices are all closing lower. The NASDAQ is down for the 6th’s consecutive day. The index is down -7.98% from the closing level on August 25 The S&P and Dow industrial average fell 5 the last 6 trading days Energy led the S&P 500. Communication services was the big loser S&P 500

GBPUSD stallls at the low from yesterday. 6 days down. The GBPUSD has also been dragged lower on the back of the Russian pipeline news and in the process has moved down to test the low from yesterday at 1.14977. The low price just reached 1.14992 and stalled. For the trading week, the GBPUSD price

The Dow and the S&P snapped a 4 day losing streak with late day buying ahead of the jobs report tomorrow . The Nasdaq index was still down on the day and closed lower for the 5th consecutive. The good news is the market opened lower, the prices moved even lower before rotating higher and

NZDUSD low stalls at the July low…so far at least The NZDUSD moved down to a low of 0.60595. That tested the low going back to Jully14 at 0.60599. Lap up and down is complete. The price is modestly off the low, trading at 0.6064. Looking at the 5 minute chart below, the high correction

The US stocks opened higher, traded negative, recovered back into positive terrritory and is now back in the red. The declines are led by the Dow 30 with Salesforce, Caterpillar and Chevron moving lower the worst performers Crowdstrike which reported better than expected results after the close last night are nevertheless down -5.26% highlighting the

USD/JPY retraced in July and looked to be retracing further earlier this month but a strong push higher at the end of the month pushed it back to the top of the range. That’s a bullish sign going forward and highlights how the Fed has successfully built a case for higher rates for longer. Technically,

Nasdaq technical analysis in 10 seconds, and 1 super simple chart: Nasdaq bulls would like the following support to hold, and so far, it is If a 2 hour candle closes below it, then bears regain control Nasdaq technical analysis: Line in the sand is this support Trade Nasdaq futures at your own risk. Visit

USDCAD surges to new highs helped by oils sharp fall The price of crude oil has moved sharply to the downside today after doing the complete opposite yesterday. For the USDCAD yesterday, the price move moved (higher CAD) as it followed the rise in oil . Today, the USDCAD is moving sharply higher following the

USDCAD rotates back to the 100/200 hour MA area The USDCAD hasd moved back down toward at swing area between 1.29845 to 1.29892. Below that is the near converged 100/200 hour MAs near 1.2977. The price action today saw the price initially move higher running into a swing area near 1.3075 to 1.3092. What now?

Nasdaq is back below the 100 day MA The Nasdaq index has a high today of 12124.87. That did take the price back above the the indices 100 day at 12109.50, but not for the long. The price has rotated back to the downside reaching a new intraday lows at 11981.42. The current price is