The AUDUSD has seen up and down volatility today. At the start of the day, the price moved lower and back below the 200 day MA at 0.7322. Yesterday, the price closed just above that moving average level. However, after stalling right around natural support at 0.7300, the price moved back higher and extended up
Technical Analysis
The major indices are trading mixed with the Dow industrial average up 0.34%. The S&P index of 0.16% while the NASDAQ index is down -0.56% currently. If you were to look at the hourly chart of the NASDAQ index above, the high for the day at 13837.59 stalled right near its 200 hour moving average
The GBPUSD has been waffling above and below its 100 hour moving average of 1.33742 over the last six or so trading hours. The price has also been staying above the swing lows from January 27 and January 28 between 1.3357 and 1.3373 during that time. However the last few minutes have seen a move
The AUDUSD is trading to new session highs and in the process is trading at the highest level in 34 trading days. The price traded above the high price from yesterday which tested swing highs going back to January 12 and January 14 between 0.7289 and 0.7292. The current prices trading at 0.7303. The aforementioned
The USDCAD has moved down to test the low of the swing area between 1.2649 and 1.2656. The low price just reach 1.26475 but has since bounced back up to 1.2663. The 100 day moving average of 1.26377 is also in play as is the failed swing low from February 10 at 1.26344. So although
The price of gold is trading to a new session high of $1935.21. The price trades just off that level at $1934.71. The price is currently up $25.87 or 1.35%. Looking at the hourly chart, the low price yesterday stalled near its rising 200 hour moving average (green line). That gave the buyers the go-ahead
The JPY is the strongest and the EUR is the weakest as European traders look to exit. Taking a quick look at some of the technicals for the major currency pairs: USDJPY : The USDJPY is lower on the day and in the process moved below a swing area between 114.759 and 114.834. The low
The USDJPY opened the day above its 100/200 hour MAs (blue and green lines). The price broke below those MAs near the end of the London session, and stayed below and moved lower into the NY afternoon session as selling intensified. The pair has moved down to test a swing area between 114.83 to 114.759.
The Nasdaq index is trading back in the black after trading as low as -134.92 points or -0.99%. A new high price has just been reached at 13777.66. That is up around 83 points or 0.60% Looking at the hourly chart above, the price is approaching its 100 hour MA at 13831.16. The 200 hour
Yesterday, the USDCAD made a move outside of a “red box” that has confined up and down price action in the pair since January 27. The high of that up and down red box range was at 1.27956. The strong dollar buying yesterday saw the price of the USDCAD extend all the way up to
The major European indices are closing sharply higher on the day, but it wasn’t enough to erase declines for the week. For the day: German Dax, 3.66% Francis CAC +3.54% UK’s FTSE 100 +3.91% Spain’s Ibex +3.5% Italy’s FTSE MIB +3.5% For the trading week: German Dax, -3.3% Francis CAC -2.56% UK’s FTSE 100 -0.33%
The price of wheat traded up the daily limit all day yesterday. The price was locked near $9.34. In the new trading day, the contract moved higher reaching $9.60 before it started to rotate back to the downside. The move to the downside has now taken the price to the down limit level at $8.59.
The price of crude oil settled today at $91.59. That is down $1.22 on the day. For the week, last Friday the price closed at $92.00. So believe it or not, the price is closing lower on the week after trading as high as $100.50 on the spike high on Russia’s invasion of Ukraine. Looking
Gold , like crude oil , is closing near unchanged/lower on the week despite mid week spikes on the back of the Russian invasion of Ukraine. The spike high in yesterday’s trading, saw the price move up to a high of $1974.40. That took the price to the highest level since September 2020. After trading
The price of the AUDUSD this week extended above its 100 day moving average (top blueline currently at 0.72376) on Wednesday for the first time since January 14. The run to the upside saw the price extend up to a high of 0.72831. The RBNZ rate hike helped to push the price higher in sympathy
The price of WTI crude oil has tumbled back to the downside, erasing the gains seen starting yesterday ahead of the invasion of Ukraine. The last swing low nearly 24 hours ago bottomed at $91.27 before racing higher and peaking above $100 at $100.50. The price over the last 5 or so hours has seen
The EURUSD has not traded below its 2022 low of 1.11207 and in doing so trades at the lowest level since June 2020. The low price has reached 1.1105. Looking at the daily chart, there is natural support at 1.1100. A trendline on the daily chart also cuts across near that level at 1.1096. Break
The GBPUSD has completed the lap up and down that saw the price of the pair bottom yesterday at 1.35375, move up to a high today at 1.3619 and then back down to a low today just below the low from yesterday to 1.35348. The 38.2% of the move up from the January low comes