Technical Analysis

Earlier this month, I did a series of posts, following the trend of the GBPJPY on a trend move higher. The move to the upside was helped by dips finding support against the 100-hour MA. That continued until it didn’t and the technical story changed. Here is the succession of posts. https://www.forexlive.com/technical-analysis/the-gbpjpy-is-trading-at-highest-level-since-2008-and-bounced-off-support-todaywhat-next-20240705/ https://www.forexlive.com/technical-analysis/has-the-song-remained-the-same-for-the-technicals-driving-the-gbpjpy-trend-move-higher-20240708/ https://www.forexlive.com/technical-analysis/gbpjpy-still-remains-above-the-100-hour-ma-20240709/ https://www.forexlive.com/technical-analysis/gbpjpy-continues-its-run-to-the-upside-hints-of-a-top-yesterdayfails-20240710/

NASDAQ stayed above its 200 hour moving average. Bullish The US broader indices are trading at at session highs. The gains are led by the NASDAQ and the switch is currently up 114 points or 0.64%. At session lows, the price approached its rising 200 hour moving average, but found early buyers against at that

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NZDUSD continues the run lower The NZDUSD has continued its run lower (SEE CHART ABOVE) started last week after the pair initially found resistance against its 100 bar moving average on the 4-hour chart (higher blue line at 0.6082 at the time), 100-day moving average at 0.6060, 50% midpoint of the move up from the

Fundamental Overview The Nasdaq has been on the backfoot recently as the goldilocks data led to a strong rotation into small caps stocks. Yesterday, there was general weakness across all the indices although it wasn’t triggered by any catalyst. The fundamentals haven’t changed, on the contrary, they strengthened the case for a soft landing. The

As the North American session begins, the USD is the strongest and the NZD is the weakest. UK retail sales was weaker overnight (-1.2% versus -0.6% estimate) The big news is the global downage as a result of a software update at Crowdstrike that then impacted Microsoft (and others) grounded airlines and impacted many businesses

In the kickstart video for July 19th, I take a look at the three major currency pairs – the EURUSD, USDJPY and GBPUSD. The EURUSD has moved down continuing the decline from yesterday, and in the process tested its rising 200 hour moving average at 1.08794. That moving average will be a key barometer on

FTSE China A50 Index Futures: A practical guide for investors The FTSE China A50 Index Futures (ticker: XIN9) are a vital tool for international investors aiming to tap into China’s vibrant A-share market. Traded on the Singapore Exchange (SGX), these futures mirror the performance of the 50 largest A-share companies listed on the Shanghai and

The AUDUSD is lower this week, but as the week works toward the close, the AUDUSD is running into a cluster of support as the week moves toward the close. The area comes in between 0.6676 and 0.6689. I targeted this area in the post from Wednesday saying: A break… could lead to another multi-technical

The USDCAD has climbed higher during the North American session following weaker-than-expected retail sales earlier today. This, coupled with a weaker CPI earlier this week, sets the stage for a rate cut by the Bank of Canada next week (Wednesday). Technically, the price has broken above a downward sloping trendline, maintaining the bullish trend established

The GBPUSD moved higher yesterday, reaching its highest level since July 18, 2023, with a peak at 1.3043 before slowing. This move pushed the price above the July 28 high of 1.2995 and the psychological resistance at 1.3000. Today, however, the price has rotated lower, falling back below both the 1.3000 and 1.2995 levels, indicating

The Nasdaq index moved higher in the first few minutes of trading today, giving buyers some hope after the sharp move lower. Recall from yesterday (see post here and here), the Nasdaq moved down by over 500 points. In the post, I started to talk about the 200 hour MA as the next target. Today,

As the US trading session draws to a close, the USD/CHF has reached a key swing target area between 0.8818 and 0.88267. This level is crucial for both buyers and sellers. For dip buyers, it offers a low-risk entry point; if the price falls below this range, exiting is advisable to avoid potential market breaks.

The NZDUSD fell sharply yesterday and in the process tested the 50% midpoint of the move up from the April low and also a trendline support level on the 4-hour chart. The subsequent bounce off of the USD selling has in the price extend above the 100 day moving average at 0.60629, 200 day moving

The EURUSD moved lower in the US session and in the process moved down to test the 50% midpoint of the trading range since the December 2023 high. That level comes in at 1.08695. The current price is at 1.0888. The bounce off that support target is a key bounce and bullish signal. Going back

The Canada CPI came in weaker than expectations. The US retail sales was stronger. That should have sent the USDCAD higher and it did but after moving briefly above 1.3700, the price has rotated back down toward the 200 bar MA on the 4-hour chart at 1.3683. That level will be a close risk level

The USDJPY fumbled up and down in most of the US session, but a crack lower was strong enough to fall below the double-bottom and 61.8% of the move up from the June low near 157.364. The low-price extended down to 157.15 which was the same low going back to June 17 when the price

The USDCHF moved higher in the Asian session on the buying after the weekend assassination attempt. However, after testing a cluster of moving averages, buyers turned to sellers and has now pushed the price all the way down to new session lows, has breached below the 50% midpoint of the move up from the June