Technical Analysis

Euro Stoxx index comes off a record close reached yesterday The major European indices are closing lower on the day. It comes a day after the Euro Stoxx 600 index closed a record level yesterday. Today, the index was down -0.1%.  Other provisional closes shows: German DAX, -0.4% France’s CAC, -0.2% UK’s FTSE 100, -0.3% Spain’s Ibex, -0.3% Italy’s

100 hour MA at 0.74923 The AUDUSD  successfully tested its 100 hour moving average in the European morning session and bounced. The bounce took the price up to test a swing area between 0.7511 and 0.7522 ahead of the high from last week at 0.75457. That high was the highest level since July 6. The move back to

The price is above the 100/200 hour MA The USDJPY has pushed to the upside in trading today helped by buoyant stock trading. The move has inched above the 100/200 hour MAs at 113.90 to 114.017.  The last 7 or so hours have been able to hold above the low of that area. The current

Higher highs in this pair despite cycle highs in oil This is an interesting week for USD/CAD. The Bank of Canada decision is Wednesday and it will include a taper but could also include a more-hawkish message or a pushback against a market pricing in four hikes next year. USD/CAD has been stubbornly strong in

USD strength and oil giving back gains are factors Watching the oil market in the past week weeks, there’s been a clear pattern of selling early in US trading only for the buyers to return late in the day. That pattern fits with specs selling at the most-liquid time and refiners buying dips but you

European indices close mixed for the week The European major indices are closing mostly higher with the Spanish Ibex the exception. The provisional closes are showing: German DAX, +0.5% France’s CAC, +0.8% UK’s FTSE 100, +0.34% Spain’s Ibex, -0.4% Italy’s FTSE MIB +0.2% For the week, the indices were mixed with the UK’s FTSE, German

200 hour MA and 38.2% tested The GBPUSD fell on the back of the tough talk from the EU on Brexit. Adam is not too concerned about it (see post here), but its Friday. European traders are either out the door or near gone which decreases the liquidity. Finally, there was some technical reasons to

What are the charts saying for the EURUSD  in the new trading week.  The EURUSD traded below the 200 week moving average over the prior 3 trading weeks.  Each of those weeks could not close below that MA level. In fact, the last 3 weeks closed between the 100 week MA above (blue line in

The USDJPY stalled near the swing high from November 2017 and rotated lower The USDJPY is closing the trading week at/near the week lows. That breaks a string of 5 straight higher weeks for the pair which saw the price move from 109.10 to the high this week at 114.69 (559 pips).  The high price

NASDAQ index lower for the second time in three trading days The S&P index snapped a seven day winning streak with a modest decline of around five points or -0.11%.  The Dow industrial average posts a record close and is up for the third day in a row. The Dow’s record close was the first

Dow opened higher. S&P near unchanged The major indices in the US are opening up with mixed results.  The NASDAQ is under the most pressure as social media stocks weigh on the index.  Snap earnings disappointed and that dragging down Facebook shares with it.   The NASDAQ index has been up six the last seven trading days The

Throwing this open to the charting people and any remarks they may have on what appears to me to be a clear outside reversal day for AUD/USD: I stuck an arrow on it so there is no doubt which day I am referring to (if you are new to T/A): What Is an Outside Reversal?

The pair trades to the lowest level since June 25 The USDCAD continues to remain below its 100 hour moving average.  The price rises this week all found sellers ahead of that moving average level. The high price today reached 1.23449. The current 100 hour moving averages at 1.23533. Yesterday the test was closer, but sellers once again leaned.    The last

NZD/JPY once paid 7% The days of carry are long gone but perhaps the run in NZD/JPY for the past two weeks reveals that they will soon return. The days of 7% carry in NZD/JPY are long gone but the persistent bid in the pair along with a broader reflationary narrative could continue to underpin

S&P and NASDAQ on a five day win streak The major indices are trading marginally higher in early North American trading Dow industrial average up 17 points or 0.05% at 35,474.05 S&P index up 7.27 points or 0.16% 4527.07 NASDAQ index up 26 points or 0.18% at 15155 The S&P and NASDAQ are on a five day

What levels are in play for some of major currency pairs EURUSD:  The EURUSD trended higher in the Asian and into the European session and in the process moved above the high from last week at 1.16238 and the high from October 4 at 1.1640.  However, the pair stalled at 1.16687 which was a few pips short of the

Current price trade above its 100 day moving average but below its 200 day moving average   The GBPUSD trade above a swing area and 61.8% retracement between 1.37208 at 1.3733 on Friday (see lower yellow area in the chart above), and corrected lower during trading yesterday. The price did dip below the 61.8% retracement level on a few hourly bars

Price trades at the highest level since June 17 The EURJPY is up for the eighth straight day. In the move higher, the price last week extended above both its 200 day moving average (currently at 129.91) and the 100 day moving average (currently at 130.433).  There has been little in the way of a correction since the breaks. The price is