Technical Analysis

The NZDUSD this week moved higher on Thursday and moved up to test the 50% midpoint of the April trading range at 0.59668, before backing off on the stronger US GDP and price data. The price retraced the entire move to the downside with momentum in the Asian session today. That follow-through upside move took

USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. The US Q1 GDP surprisingly missed expectations although the

The USDCAD has been trading up and down over the last few days of trading. The volatility intensified today with a move lower into retracement and swing area support, followed by a move higher into swing area resistance, followed by another move lower into the same retracement and swing area support as the initial move

USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. The US CPI beat expectations for the third consecutive

In the morning kickstart video, I spoke to the support near the 200 hour MA and the swing area, and if that level held, the need to get and stay above the 38.2% of the April trading range. Well those levels have defined the range in the US session (give or take a couple pips

The EURUSD of higher after the weaker US data today and in the process tested the 30.2% retracement of the April trading range. That level comes in at 1.0709. The high price reached 1.07107 just above the retracement level before rotating modestly to the downside. What next? For buyers, the 38.2% retracement is a key

The USDJPY has two key level in play. ON the topside the 155.00 level is being touted at a level that the BOJ does not want to see the USDJPY move above. It may just be the “market” speaking, but there is chatter that the central bank also does not want the pair moving above

USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. The US CPI beat expectations for the third consecutive

GBP/USD daily Cable carved out a range from roughly 1.25-1.28 from December to early March in what was a slog of a market as we all weighed whether the BOE would keep its hawkish stance and the Fed would signal rate cuts. For a brief moment in March, it looked like the pair would break

I am eyeing Tesla stock before tommorow’s earnings report, and starting to buy now As equity traders, we’re always on the lookout for opportunities that promise a good return against measured risk. Tesla Inc. (TSLA), the innovative electric vehicle and clean energy company, presents such an opportunity. Ahead of its earnings release tomorrow, post-market close,

USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. The US CPI beat expectations for the third consecutive

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

As London traders look for the exits, the GBPUSD has rotated back to the downside. The price is currently trading at 1.2405. The low for the day was at 1.2388 reached shortly after the Israeli attack on Iran. That is also the low for the trading week. GBPUSD moves away from the 50% midpoint The

The EURUSD has moved lower and is testing its 100-day moving average of 1.06421. A move below that level would tilt the bias even more to the sellers. Buyers earlier in the day tried to extend higher but could not get to the next target near 1.0694, nor the 38.2% retracement of the move down

The US stocks are moving back toward session lows. The NASDAQ in that this really trading at 15615. The low price reached 15595.74. At current levels the price is down -0.43%. Nasdaq moves toward key support targets As the price was lower, it is getting closer to a key technical support level defined by the

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

ECB’s Lagarde said that: We monitor the exchange rate It is obvious that exchange rates may have an impact on inflation The truisms are not anything new, but given more illiquid afternoon markets, it did give a minor boost to the beaten down EURUSD. The move to the upside took the price into an briefly

Silver on the daily chart The price of silver moved to a high on Friday at $29.79. That got within $0.30 of the 2021 high at $30.09. The 2020 high reached $29.86. So there are 3 highs from 3 different years with $0.30. Those highs are the highest since 2013. Getting above them would open