The USDJPY last week, moved up to test a key target on the daily chart near 158.88. Sellers leaned and pushed the price off those levels into the close a week ago today. This week, the price of the USDJPY has stepped lower after peaking on Tuesday near the high of a swing area at
Technical Analysis
The EURUSD bottomed this week on Monday after falling below the 61.8% of the move up from the 2022 low to the 2023 high at 1.0200. That break could not be sustained. The seller had their shot. They missed. The subsequent move higher saw the pair peak near the 38.2% of the move down from
The GBPUSD traded to new lows going back to November 2023 on Monday, but fell short of downside targets on the daily chart at 1.2039 to 1.20686. The low reached just below the 1.2100 level at 1.20989. The price bounced but quite frankly the price action was sloppy and misbehaving to the technicals for the
In the above video, I take a look at the technical levels in play for the AUDUSD heading into the new trading week. For the week, the low on Monday traded to a new low going back to 2020, but could not sustain the bearish momentum. The subsequent rise saw a double top established at
The USDCHF broke lower after the US CPI data. Although yields moved lower in the US and remain down, they also moved lower in Europe. The dynamic saw the technicals switch from being more dollar bearish to more dollars bullish. Looking at the USDCHF, the price fell below its 200-hour moving average (green line on
The EURUSD is moving back hgiher and is retesting its 200 hour moving average. Recall from earlier today, the price moved up to the 200-hour moving average and found willing sellers near the level. The price rotated back to the downside stalling ahead of its 100-hour moving average at 1.0268. The low price could only
TradeCompass: Ethereum Futures Analysis – 14 January 2025 Financial Instrument: Ethereum Futures (ETH Futures) Price at the Time of Analysis: 3240 Key Levels and Trade Scenarios for Ethereum Futures Today Bullish Above: 3315 Why Bullish Above:If Ethereum futures rise above 3315, they will break above the Value Area Low (VAL) of January 10. This move
Gold is trading up and down since taking it’s last run higher from September that saw the precious metal summit at $2790.07 on October 30. Since, then there was a Correction down to early/mid September lows at $2535 area, A couple of high at $2721.41, and A higher low at $2584.63 The price moved higher
Fundamental Overview The USD got another boost on Friday following the NFP report as the data beat expectations by a big margin almost across the board. The market scaled back the rate cuts expectations further with now just one cut expected by the end of the year. The focus remains on inflation and this week
The NASDAQ index moved to a low of 19143.64. That was down over 300 points on the day and in the process has moved within a swing area defined by recent swing lows of swing highs between 19119 and 19208 . A move below that area would open the door for further selling technically (see
The NZDUSD has stretched lower in trading today as the pair is hit on “risk off” flows as well as higher rates.The currency pair is down around -0.70% and the biggest mover vs the USD today. Technically, the price is stretching closer to the 2022 low which reached 0.55105. The low price today has reached
The USDCAD fell initially after the US and Canadian jobs reports both of came out stronger than expected. However, after the focus returned to the effect on the US dollar, that helped to reverse the USDCAD pair back to the upside. The price is now extending to a new high and in doing so is
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Crude oil is settling at $76.57 per barrel, up $2.65 or 3.56%. The price reached a 3- month high today. New U.S. sanctions targeting Russia’s oil exports helped to contribute to the rise. The Biden administration imposed sanctions on Russian oil producers Gazprom Neft and Surgutneftegas, their subsidiaries, over 180 vessels, oil traders, oilfield service
Fundamental Overview The Nasdaq has been stuck in a big range since the last FOMC decision as the market perceived it as more hawkish than expected. The Fed continues to place a great deal on inflation progress to proceed with further rate cuts as highlighted by Fed’s Waller this week. Therefore, the market is waiting
The USDCAD sellers had a shot earlier this week with breaks outside an up-and-down “Red Box” to the downside. The first move was on Monday. The 2nd on Tuesday. Each failed on the break The sellers had their shot. They missed. The price rise saw the pair’s price move above the 100 and 200 hour
Fundamental Overview The USD got a boost recently from another set of hot data as the US Job Openings surprised to the upside and the prices paid index in the ISM Services PMI jumped to the highest level since 2023. The market’s pricing didn’t change much though and Fed’s Waller yesterday kept the rate cuts
The EURGBP has seen a run higher despite a sharp rise in the UK 10 year yield which saw the yield move to the highest level since 2008. The yield reached 4.821% today rising above the 2023 high of 4.755% in the process. The yield is currently at 4.813%. Although higher yield can be supportive