Technical Analysis

Extends toward a swing level at 1.2078. The USDCAD has fallen to a new session low on the day after finding sellers near a swing area between 1.21297 to 1.21355. Recall from last Thursday the price based at the 100 hour MA, moved through the 38.2% of the last move lower at 1.21617 and above

Lower on the day, but waiting for the next shove The USDJPY is lower on the day after a run higher found sellers near a upper swing area between 109.42 and 109.48 (the high reached 109.496 and quickly retraced lower).    The move to the downside has seen the price chop to the downside. There have been a lot of ups and downs

Overhead resistance targets lining up The AUDUSD trended lower, and started the NY session near the lows for the day.  The low bottomed at 0.7730. There was nothing special technically about the level, but it was ahead of the 100 day MA at 0.77207. Last week, the price traded above and below that MA level,

Mostly modest changes in the major indices The major European indices are closing the day mixed to start the trading week. The end of day changes are mostly modest. The provisional closes are shown German DAX, -0.1% France’s CAC -0.2% UK’s FTSE 100, -0.1% Spain’s Ibex, +0.1% Italy’s FTSE MIB, +0.4% In other markets as London/European

Trades near highs. The GBPJPY is higher and tests a topside trendline from a consolidation range.  Earlier in the session, the price tested the lower trendline of what is a bull pennant formation.   A break above the trendline currently at 154.24, would still have to get through the highs seen over the last week at 154.275 (from Friday), 154.324 (from Thursday) and 154.424

Can the price of the GBPUSD stay above the 1.4102 to 1.4112 area. The GBPUSD is extending the narrow trading range and in the process has moved above the swing area between 1.41021 and 1.4112….again.  Earlier in the day, two separate hourly bars moved above that level, only to fail. The pair has now CLOSED ABOVE that area for 2

Trendline broken at $1856.10 The price of gold is trading to a new session high of $1868.23. That up 1.35% on the day or $24.82. Looking at the daily chart, the precious metals making a break above its 200 day moving average for the first time since early February (February 3). The price is also moved

6 straight day of gains in jeopardy The USDJPY has moved higher for 6 consecutive days.  On the 3rd day higher, the price moved outside a narrow trading range of 103 pips that was in effect for 14 days. Since then, the price has moved 160 pips higher (yesterday was the high).  The price broke

100 hour moving average, 100 day moving average and 200 hour moving average tested on the AUDUSD. The AUDUSD is down trading at new session highs after erasing earlier declines that saw the pair move to the lowest level since December 2020.   The rise has now taken the price up to a cluster of moving average levels including the 100

AUD/USD falls to 0.7536, its lowest level since 23 December last year The pair is starting to validate the head-and-shoulders pattern as it breaks through the neckline and 2 February low @ 0.7564, allowing for the downside momentum to accelerate towards fresh lows seen in December last year. With the break below the 100-day moving

Above the 100/200 hour MAs Earlier in the NY session, the GBPUSD was trading back toward the 100/200 hour MA.  It was also just above the swing area between 1.3745-58.  Holding that area was key to the buyers looking for more upside.   Getting back above the 200 hour MA was also key. The pair did

Moved back below 100 hour and 100 day MAs today The AUDUSD after initially moving higher today, reversed course and tumbled back below key MA levels on the hourly and daily chart.  The hourly chart above has the daily 100 bar MA overlaid on the chart and it – and the 100 hour MA –

The price remains below 5-minute  MA level/trend line/retracement on the intraday chart.  The EURUSD has seen a bounce off lows for the day over the last hour or so.  From an earlier post, the hourly chart did see a break below a lower channel trend line, but failed (at 1.1719 – see earlier post).  The

Russell 2000 falls -2.8% The Dow is closing at a record close. The Nasdaq lagged with the Russell 2000 of small-cap stocks taking it on the chin.   The final numbers are showing: S&P index fell -3.35 points or -0.08% at 3971.19 Nasdaq fell -79.07 points or -0.60% at 13059.64 Dow rose 98.43 points or 0.3% at 33171.31 The small-cap

Can the buyers stay above 100 hour MA/old year high from earlier this month. The USDCHF broke above the March 9 high at 0.93748 (and the highest level going back to July 2020), on Thursday last week, and stayed above that level on Friday. The high reached to 0.94172, before selling back off into the

200 hour MA and 50% retracement The EURJPY raced higher today with the run higher in the JPY pairs.  The run to the upside was supported by technicals on the hourly chart that saw the pair extend above a number of swing lows and highs between 128.74 and 128.938. The price also cracked above its 100 hour

100 hour MA at $53962 The price of Bitcoin is trading up $1900 at $53900. The high price reached $54096. The low reached $51235.25.    The digital currency is up testing its 100 hour MA at $53962.  The high price just reached just above that MA, but has backed off modestly.  There may be a

The NZDUSD is the biggest mover for the week with a 2.48% decline For the week, the USD is ending as the strongest of the majors, while the NZD is the weakest.   That makes the NZDUSD the biggest mover for the week. The NZDUSD fell 2.48%.  The next biggest mover was the GBPNZD which