Technical Analysis

The major US stock indices have turned back into negative territory after extending higher after the favorable inflation and growth numbers from the University of Michigan sentiment survey. For the Dow Industrial Average it traded as high asup 144.6 points. It is currently trading down 10 points or -0.03% at 36107. The S&P index traded

USDCAD trades to a new high but upside resistance looms The USDCAD has recently reached a new daily high, but the price movement has been notably volatile, fluctuating between gains and losses. This inconsistency in the market’s direction forms the backdrop of current trading conditions. On a positive note, today’s low, which occurred during the

The USDCHF has moved higher this week. The low was reached on Monday. The high was reached in trading today. At session highs, the price reached the low of a swing area on the daily chart between 0.88167 and 0.8838. In trading next week, if the buyers are to take more control they would need

The price of WTI crude oil futures are settling the week at $71.23. That’s up $1.89 or 2.73%. Monday, Tuesday and Wednesday saw the price tumble from Friday’s close of $74.07 to a low-price reached yesterday (before rebounding) at $68.80. The rebound today retraced some of the declines. However, for the week, the price is

The GBPUSD moved lower after the stronger-than-expected US jobs report, but after reaching a down side trendline on the hourly chart, buyers entered and pushed the price back to the upside. The pair remains below a swing area between 1.2558 1.2568. He would have to stay below that level to keep the sellers in play.

Last Quarter Performance: Broadcom reported revenues of $8.88 billion last quarter, a 0.6% decrease year-on-year, aligning with analyst expectations. Current Quarter Expectations: Analysts anticipate a 4.1% year-on-year revenue growth for Broadcom, estimating revenues to be around $9.28 billion. This growth rate is slower compared to the 15.7% year-over-year increase in the same quarter last year.

In the December 7 morning kickstart video, I take a look at three of the major currency pairs from a technical perspective – the EURUSD, USDJPY, and GBPUSD. EURUSD: The EURUSD fell below both the 100-day moving average and 50% midpoint of the trend move higher from the November 1 low at 1.0766, but found

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CAD The BoC left interest rates at 5.00% as expected at the last meeting but remains prepared to raise rates further if needed. BoC Governor Macklem delivered a less hawkish speech in the press conference compared to his previous remarks. The recent Canadian CPI missed expectations across the board and the underlying inflation measures eased,

The NZDUSD on Monday peaked right near the high from the last time the price was at the levels on July 31 near 0.6221 (see blue numbered circle on the chart below). NZDUSD falls to test support swing era Willing sellers in the NZDUSD leaned against the level and have since pushed the price lower

The Chinese stock market, with its dynamic nature, has always been a point of intrigue for global investors. In a compelling video by ForexLive titled “Don’t Miss the Next Chinese Bull Run: Mastering Technical Analysis for the MCHI ETF Rebound,” viewers are given an insightful guide on harnessing opportunities in the rebounding Chinese stock market.

Gold sure had a wild trading day with the price initially spiking higher in racing to a new all-time high level of $2146.79. However, momentum faded in the price quickly rotated to the downside. The price is currently down $-44.33 or -2.14% at $2027.54. The low price for the day reached $2020.26. That low tested

The NZDUSD moved lower with the USDs run higher, but has snapped back higher after testing the high of a swing area going back to the end of July/early August between 0.6104 and 0.6117 (see red numbered circles on the chart below). The low price reached 0.6118 and bounced back higher. We are currently trading

The NASDAQ is on pace for its 2nd consecutive day to the downside. The price has been down 4 of the last 5 trading days. That sounds ominous, but the price is only down -0.85% over that period – with today’s decline of -0.78% the bulk of the decline. Also for the month, the index

In today’s trading, the USDJPY experienced a notable rebound, with its key technical targets positioned above, including the 200-hour moving average at 148.45, a swing area between 148.44 and 148.59, and the 38.2% Fibonacci retracement of the decline from the November 13 high at 148.665. The pair briefly surpassed the 200-hour moving average, reaching a

Tesla Inc. (TSLA) remains a highly watched stock in the market, with its daily price movements offering significant insights for investors. Equipped with an updated chart featuring detailed price labels, this analysis will integrate these specific price points to offer a refined perspective for both swing traders and long-term holders considering their positions in TSLA.

EURUSD falls to technical barometer near 38.2% retracement The EURUSD pair recently hit a new session low, testing a critical swing area and the 38.2% Fibonacci retracement level, ranging between 1.0878 and 1.0887. The pair’s low touched 1.08829, influenced partly by the Eurozone CPI coming in weaker than expected, which favored the downside. Technically significant,

The Reserve Bank of New Zealand’s decision to maintain interest rates at 5.5% was anticipated, but their stance leaned towards the hawkish side. They didn’t dismiss the possibility of future rate hikes to manage inflation. This sentiment drove the NZDUSD price up, surpassing the 61.8% Fibonacci retracement level of the July to October downward movement,