Technical Analysis

The Day After (the FOMC) The day after the FOMC meeting has the USD as the strongest of the major currencies, while the CHF is the weakest as the North American session gets underway.  Yesterday the dollar move sharply higher after the FOMC meeting where the fed dot plot showed more officials (7 vs 4)

Fed ups inflation expectations and said thinking about thinking about tapering The US stocks are closing lower on FOMC decision, but well off the lows. The Fed up there expectations for inflation in 2021, but still see inflation rates moving back toward just over 2% in 2022.  The US 10 yield is up about eight basis points to 1.579%.  That is still off

The USD is mostly lower ahead of the FOMC decision As the North American session begins, the NZD is the strongest of the majors, while the CHF is the weakest. The USD is tilted to the downside with declines versus the GBP, JPY, AUD and NZD. It is higher vs the EUR and CHF and near unchanged

Nasdaq moved lower after reaching an all-time high closing level at the close yesterday The major indices are moving lower today led by the Nasdaq one day after it reached an all time high close just yesterday. Dow down for the second day in a row S&P, NASDAQ on pace to snap three-day winning streak S&P index reached a

Traders will sift through US retail sales, PPI and other economic data ahead of the FOMC decision tomorrow A big data day in the US and the USD is going into it as the strongest of the majors, while the GBP is the weakest.  The US will release retail sales, PPI and the empire manufacturing data

NASDAQ up for the third day in a row.  Dow closes well of low of  The major indices are closing mixed with the NASDAQ and S&P closing higher. The Nasdaq closed above the April 26th all time high close at 14138.79. The all time intraday high is at 14211.57.  The S&P also closed at a new

GBP/USD falls to 1.4071, its lowest level in a month Most major currencies are still sleeping on the day but there is an interesting technical move in cable as it tests the lows from last week around 1.4073 currently. So far, buyers are trying to keep a bounce off that level as price moves up

Well… 67 pip run so far The USDCHF has rocketed higher with the dollars move higher today.   The move to the upside got a nudge initially, when the lows for the day could not reach the low for the week (and bottomed in a lower swing area between 0.8930 and 0.89393. The low for the

Low from May tested at 0.71148 The NZDUSD has been trending lower over the last 9 hour of trading.  The move has taken the price from a high of 0.72098 to the lows of 0.71153 (or about 95 pips).   That low took out the June low at 0.71248, but is so far just testing the

10 year yields were lower.  Most stock indices were higher.  Crude oil is up for the 3rd week in a row. The CHF was the strongest of the major currencies for the week of June 7 to June 11. The NZD was the weakest.   The USD is ending mostly higher with 5-day gains vs all

Takes out the June low at 1.21035 The EURUSD has continued it’s decline as dollar buying continues all of a sudden. The price of the pair moved below the swing area outlined earlier at 1.21254 to 1.21317. That area is now a risk level for shorts. Stay below (and out of the “red box”) keeps

High price reached $71.24 The price of crude oil futures extended to a cycle high of $71.24. That is the highest level since October 2018. The current price trades around $71. The price of crude oil is up for the 3rd week in a row. The price closed around $69.40. This week, the price traded above the

Back below 1.0900 The price of the EURCHF are trading to new session lows on the day and in the process is trading at the lowest level since February 23.  Looking at the daily chart, the price also is extending below its 50% midpoint of the move up from the November swing low to the March swing

Can you trust the buying though? The GBPUSD is keep in the buyers in control as the price has now remained above its 200 hour moving average for the last 5 hourly bars. That moving average is currently at 1.41537. The price just reached a new intraday high of 1.41753. The next target comes in at the high from

GBP/USD is down 0.3% to 1.4075-85 currently Invest in yourself. See our forex education hub. The inability to keep with a break above 1.4200 is starting to weigh a little on the upside momentum in cable as buyers are showing some exhaustion and perhaps taking profits as the recent consolidation is leading nowhere ahead of

NASDAQ gives up gains. S&P also negative after trading above its all-time high closing level The major stock indices of now turned negative with the NASDAQ giving up its earlier gains. The S&P index, after trading above it’s high closing level, has also dipped into the red. With 15 minutes left and trading, the snapshot of the market is showing: S&P index -6.65 points or

The low yesterday and today reached 0.7187 The low on Monday occurred in the first hour of trading at 0.7187. The low today reached in the early hours of trading extended to 0.71866. In a non-trending environment, what goes up, tends to come back down. The move to the downside today today was helped by the pair

NASDAQ closes at the highest level since April 30 The major indices close mixed with the S&P unchanged. The NASDAQ index higher. The Dow industrial average lower. S&P close just below record closing level of 4232.60 NASDAQ closes at highest level since April 30 Energy sector was the biggest gain or help by WTI crude