Technical Analysis

The US 10 year yield moved lower this week, helped by flow of funds out of the longer end as the yield curve between 2-10 year moved negative on expectations the Fed would be forced to tighten hard to halt inflation. Looking at the hourly chart, the high yield for the week reached 3.10% on

The price of WTI crude oil futures are settling at $97.59 that’s up $1.91 or 1.89% The high price today reached $99.01. The low prices at $94.59. For the trading week, the contract close last week came in at $104.78. The high price early on Monday reached a high of $104.86. The low price was

Following the JP Morgan quarterly earnings today, the S&P 500 e-mini futures dipped below the recent lows, but then met with a fast and aggressive ‘counter attack’ from buyers on the 4 hour candle timeframe. This bold buying pressure created a V shape recovery on that timeframe On the other hand, the S&P is still

The  NZDUSD  peaked in the Asian session at 0.6132 before rotating back to the downside. The run lower followed the overall USD buying and in the process reached a new cycle low at 0.6060 before bouncing higher over the last few hours of trading. The Waller comments led to a spike to the upside that

This snippet from JPM comes cia eFX. For bank trade ideas, check out eFX Plus . For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here . The USD/CAD rally stalls again at a key confluence of resistance near 1.30 We

The AUDUSD has not been spared from the downside seen in the forex market today. Just prior to the CPI report, the pair moved up to test its 200 hour moving average (green line in the chart above). The subsequent tumble to the downside on dollar buying sent the price to a new session low

The EURGBP reached to the lowest level since May 18 and May 23rd lows which came in at at 0.8432. The low price today reached the same level. The low today did also see the price move below the 100 and 200 day MAs at 0.8449 and 0.8441 respectively. However, the aforementioned 0.8432 low could

The RBNZ is expected to raise rates by 50 basis points to 2.5% from 2.0% at 10 PM ET today (Wednesday in New Zealand). The hike will be the 6th in a row which has seen the rate move up from 0.25% to 2.5%. The last 2 hikes have been 50 basis points. The first

The  EURUSD  is trading to a new session low and in the process is getting closer to the parity level at 1.000. The low price just reached 1.00345. Looking at the 5 minute chart, the price correction off the earlier New York session low at 1.0051 saw the price move up back toward its falling

The USDCAD raced higher with the USD buying earlier today, but has rotated back to the downside in the North American morning session. The Bank of Canada will meet on Wednesday and are expected to raise rates by 50 basis points to 2.0% from 1.5%. On Friday, the Canadian jobs report came in weaker than

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The GBPUSD has had a volatile up and down and back up and back down session. The price is still lower on the day and really trades below its 100 hour moving average at 1.19965. Looking at the hourly chart recall from yesterday near the end of day, the price move back above its 100

The USDCAD moved higher after the US jobs report came in better than expected while the Canada jobs report was weaker than expected. The price of the pair extended to 1.3034 on the spike higher but has since rotated back lower and is trading to a new session low as the London fix approached. The

The USD is trading lower as London traders look to exit for the day. The greenback is making new lows vs the: EUR CAD AUD, and NZD The  GBPUSD  is moving toward the Asian session high and the USDJPY is moving back toward closing levels from yesterday after trading to the highest level since June

The price of WTI crude oil is settling at $104.58, up $2.06 or 2.01%. The low for the day reached $101.54. The high reached $105.21. A week ago, the price closed the week at $108.48. The low this week reached $95.13 on Wednesday. The high reached $111.42 on Tuesday. Looking at the hourly chart, the

The  AUDUSD  moved up to test the 38.2% of the move down from the June 16 high as the London fix was approaching. However, the price stalled ahead of that level at 0.6878 (the high reached 0.6874) and the price has since moved back below the 200 hour MA at 0.68452. Looking at the hourly

The NZDUSD has moved higher today, helped by hopes for more Chinese stimulus going forward. The earlier move higher did see the pair extend above the 100 hour MA (blue line), but found sellers near a swing area between 0.61909 to 0.61966. The inability to extend higher has led to up and down price action

The NASDAQ index is trading to a new session high. The price just reached 11591.13. The current price is just below that at 11584.67 up 222.84 points or 1.96%. Technically, the price has also moved back above its 200 hour moving average (green line in the chart above). The 200 hour moving is at 11461.37.