The price of the USDJPY as traded to the highest level in five years on a surge higher today (highest level since the week of January 8, 2017). Looking at the weekly chart, the move higher today surpassed the February 6, 2022 high at 116.33. Looking at the weekly chart, the fall off the February
Technical Analysis
The USDJPY is retesting – now breaking above – the earlier high for the day at 117.055. That takes price to a new high going back to the week of January 8, 2017. A topside trendline on the weekly chart cuts across at 117.55 area (see earlier post here). Also, in the earlier post. I
The EURUSD has moved to a new session low in the process is dipping below its 100 hour moving average at 1.09617. Traders want to see the price gather more momentum below that level and moved below the 109.33 to 109.43 swing area (see red numbered circles). A move below that level would open up
The GBPUSD early today extended swing lows from Tuesday and Wednesday and yesterday between 1.3080 and 1.3087. The price eventually rotated to a new low going back to November 6, 2020 at 1.30502, but could not sustain momentum. The corrective move higher help by the Putin headlines earlier today, push the price back up. However
The price of WTI crude oil futures settle at $109.33. That’s up $3.31 or 3.12% for the day. The high price this week reached $130.50 in the early hours of trading on Monday. The low price reached $103.63 on Wednesday. Last Friday, the price settle at $115.68. So for the week, the price of crude
As London/Europe traders hit the pubs and the trains, the USD is reaching to new highs vs all the major currencies with the exception of the CAD (the CAD has been supported by better employment data today). EURUSD: The EURUSD fell back below its 200 hour MA at 1.09624 and has been able to push
The GBPUSD is trading to a new session low and in the process is also looking to test the low from Tuesday’s trading at 1.30808. A move below that level would have traders trading at the lowest level since November 5, 2020. As outlined in an earlier post, the high today moved just above the
The price of crude oil is trading back below the $107 level at $106.86 currently. The low price just reached $106.62. The settle price yesterday was at $108.70. The high price today extended to $114.88. Markets are extremely volatile in the crude complex. Looking at the hourly chart, the swing high today stalled against the
The US major indices snapped a 4-day losing streak that saw high to low declines for the major indices over those days showing: Nasdaq -8.44% S&P, -5.86% Dow, -4.68% Russell 2000, 5.54% hundred Today, the major indices did a good job of erasing some of those declines. The final numbers are showing: Nasdaq index closed
The EURJPY has seen a strong bounce over the last few days, that came after a stronger move to the downside last week that saw the pair move below the December 2021 low at 127.348. That level was the lowest level since February 2021. The fall below took the price all the way down to
The USDCAD raced up over the previous 4 trading days moving from a low on the daily chart between the 200 and 100 day MAs at 1.2586 and moving up a high of 1.2900 yesterday. The high price yesterday tested a swing area between 1.2877 and 1.2996. The price extended above that area but only
The GBPUSD had moved into a support area between 1.3133 to 1.31865 area earlier today (see post here). I commented that moving below the low of the swing area would increase the bearish bias, and that is what happened. The pair has moved down to a low near the 1.3100. The low price reached 1.3101
CBOT Wheat are up-limit for the 6th consecutive day today. The price today reached $13.49. Although the price has closed up limit for 6 straight days, there were opportunities to exit shorts on 4 of the last 6 days. The last two days, however, have been lock limit on both days (at $12.09 on Friday,
The EURUSD’s fall has not been interrupted after the better than expected nonfarm payroll report. Jobs increased at a faster pace with higher revisions plus the unemployment rate fell to 3.8% from 4.0% last month. The wages were contained however which is good news for a change. The USD has gotten stronger since the report
The USDJPY has moved lower and tests the 100 and 200 hour MAs at 115.284 and 115.235. The low price just reached a new low for the day at 115.24. The current price trades at 115.29. A move below the 200 hour MA would increase the bearish bias for the pair with the broken 38.2%
The EURCHF has continued its run to the downside as investor exit the EUR and buy the relative safety of the CHF. The pair has reached a low 1.0019 and in the process is getting closer and closer to parity. The EURCHF has not traded below parity since January 2015. The move has gotten the
The price of GBPUSD has moved to a new low for the day at 1.32014. Support buyers are seemingly putting a toe in the water near the natural support target. The price is trading back up at 1.3218 as I type. Looking at the daily chart, be aware that the pair is also approaching the
The USDJPY has ticked to a new week low taking out the lows from Tuesday near 114.69. The not so good news is the low price just reached 114.68. That may disappoint sellers and lead to corrective probing. A move back above 114.85 will be eyed. Move above and we could see more upside corrective