The major US stock indices are tilting back to the downside with the three major indices now down around -0.45% to -0.55%. A snapshot of the market currently shows: Dow industrial average -216.30 or -0.56% at 38676.88 S&P index -27.16 points or -0.53% at 5174.98 NASDAQ index -75.57 points or -0.47% at 16177.50 Looking at
Technical Analysis
USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. Fed Chair Powell maintained a neutral stance as he
Both the EURUSD and GBPUSD are stretching to new at-session highs. For the EURUSD, in its run higher, it is now moving further away from its 50% midpoint of the March 2024 trading range. That level comes in a 1.08522 and represents close support now for the pair. The next key target comes against a
I am looking for Bitcoin to achieve a new all time high in the near future. See where it might find sellers. Bitcoin technical analysis: Getting ready for a new ATH. 🔍 Technical perspective for the crypto king: As I delve into the weekly Bitcoin chart, it’s clear that the bullish momentum continues to surge.
Oil prices have been moving up since late December 2023 and are now (for Brent) forming a ‘Golden Cross’. This is a sign that technical analysts like, when a shorter-term moving average (MA) crosses above a longer-term MA: 50 and 200 day simple moving averages (SMAs) are commonly used, but those parameters are not chiselled
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
Hey traders, it’s time for another round of Apple stock technical analysis. As one of the world’s most valuable companies, understanding Apple’s (AAPL) stock trajectory is super important for investors. Let’s look at the chart I’ve included and break down some key signals. Chart analysis of AAPL on the weekly chart: Awaiting a retest (see
Fellow stock market investors & traders: Watch the high weekly RSI Today, let’s delve into a valuable tool for navigating the S&P 500 Emini futures market: the Relative Strength Index (RSI). The chart you see here displays the RSI for the S&P 500 e-mini futures, the main gauge of the entire US stock market. The
EURJPY is looking to test a key target New The EURJPY is following the USDJPY entry into the lower in trading today continuing the decline started in the late US session. Looking at the 4-hour chart above, the price is now within a swing area that was a highlight going back to February and into
Japan’s Nikkei 225 is trading down -2.42% on the day and that is on pace for its worst declining day since December 20, 2022. Declines come on the back of selling in the US stocks yesterday. After earlier gains in the day on Thursday, the S&Pm, Dow and NASDAQ indices all retreated by over -1.23%
📉 AMD’s stock technical analysis: Is a 34% correction looming? 📉 Stay Ahead of the Curve: For the savvy traders and investors looking to keep a pulse on Advanced Micro Devices (AMD), catch the most important news summaries each trading day. Stay informed on key valuation metrics, recent insider trading, and updated analyst recommendations for
Crude oil futures are settling at $85.43. That is up $0.28 or 0.33%. The high price for the day reached $86.20. The low price was at $84.85. The weekly inventory data showed that crude oil stocks showed a build of 3.210 million barrels. The expectations was for a draw of -1.511 million barrels. Gasoline stocks
USDCHF trades to the 200 hour MA and finds support The USDCHF earlier today reached up to the highest level of the year at 0.90949. However the last three or four hours have seen a rotation to the downside after the weaker than expected ISM nonmanufacturing data. Fed’s Powell also, the market at that sending
A Bullish Beacon in Forex: The Unstoppable Rise of the Peso 📈 The Mexican Peso’s journey is a bright spot in the Forex markets, proving to be a treasure trove for those with the right strategy and the virtue of patience. Opinion: Mexican Pesos are strong and rising October’s Opportunity: Quick Dips and Steady Gains
The sellers are making a play in the S&P index, and in doing so has broken below a trendline on the hourly chart (near 5207), and also below is 100-hour moving average currently at 5198.39. Stay below those levels keep sellers in play AND control in the short term technically. On the downside, the price
The NZDUSD price has extended to a new low for the trading year and extended to the lowest level since November 17. The low on that day came in at 0.5939 which is where the price decline stalled today. The current price is trading at 0.59487. Earlier today, the high praise tried to extend above
The AUDUSD has moved to a new low going back to March 5, and in the process has broken below its 61.8% retracement of the move up from the October 2023 low. That level comes in at a natural target at 0.64995 (call it 0.6500). The level now represents a short-term bias/risk-defining level for sellers
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