Technical Analysis

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Major US stock indices have now erased all the declines. The gains are led by the Dow Industrial Average retreated up 0.56%. The NASDAQ index is now up 0.14%: Dow Industrial Average average up 213 points or 0.56% at 39096 S&P index up 16.10 points or 0.30% at 5369.50 NASDAQ index of 23.76 points or

EURUSD reaches 100 day MA The US non-farm payroll came in stronger than expected. That sent the USD higher and the EURUSD to new lows for the week. The move lower has now reached to – and now through – the 38.2% of the move up from the May 1 low. That level comes in

The AUD is one of the weakets of the major currencies (along with the NZD). Commodities are sharply lower on the back of the higher dollar/higher rates/a more stubborn Fed. Technically, the price has moved lower to test a cluster of support including the 38.2% retracement at 0.6579, a swing area between 0.6579 to 0.6585.

Fundamental Overview The USD has been on the backfoot since the beat in the US ISM Services PMI where the data showed that the last month drop was just a blip and overall we have a resilient economy with lower inflationary pressures. The data continues to reinforce the narrative that the next move is more

Crude oil futures are settling at $75.55. That is up $1.48 or 2.0%. The high price today reached $75.79. The low price was at $74.06. The price bottom this week at $72.48 on Tuesday. For the trading week the price is still down -1.9% or $-1.46, but well off the low of $-4.51. Crude oil

Fundamental Overview Gold has been feeling the pressure from the rise in real yields in the last part of May which led to a drop and a consolidation around the 2340 level. More recently, the data showed that the inflation scare of the first part of the year seems to be in the rear-view mirror

The EURUSD has moved lower after the stronger-than-expected ISM nonmanufacturing data. After holding support against its 100-hour moving average at 1.08627, sellers have now pushed the price below that moving average. The 200-hour moving average is now the next target at 1.08535. The 50% of the move-up from the end of May low is also

The major US stock indices are now all in the black (Posiitve on the day( and also recently reached new session highs. Dow Industrial Average average moved to a high of 38783.78 up 212.74 points S&P index traded to a high of 5297.04, up 13.63 points NASDAQ index traded to a high of 16881.42, up

USDJPY tests swing area (yellow area) and finds buyers The USDJPY fell sharply today and in the process fell below the 50% midpoint of the move up from the mid-May low at 155.647 and the 61.8% of the same move at 155.162. However, the support swing area between 154.594 and 154.878 stalled the fall. The

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

USDCHF falls below the 50% and looks toward the 100D MA The USDCHF is trading to new lows and in the process has moved below the 50% retracement target. That level comes in at 0.89763. The fall take the price closer to the rising 100-day MA. That MA comes in at 0.89277. The price of

The strongest to the weakest of the major currencies The NZD is the strongest and the CHF is the weakest as the North American session begins. Today at 8:30 AM, the US PCE data will be released for the month of April. The core PCE is the favored inflation measure for the Fed. Adam previewed

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The USDCAD traded lower despite the we can expected GDP data today, but in the process is tested a swing area support between 1.36049 and 1.36154. Support buyers came in against the level and pushed the price back to the upside. On the top side, the 100-bar moving average on the 4-hour chart at 1.3658

The EURUSD yesterday moved higher until it reached its 100 and 200-hour moving averages. Sellers leaned against that level and push the price down into the Asian session where support buyers came in against its 100 day moving average (blue line at 1.08074).The price then started a move to the upside breaking back above the

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not