Technical Analysis

The USDCHF has had its upsa and downs today (and this week), with the buyers now making a play after holding support at the 100 bar MA on the 4-hour chart at session lows today. The ability to hold that support and them push above the 50% retracement of the May trading range, has given

The buyers had a shot to run higher after the Canadian CPI data this morning suggested that the BOC might have enough proof to cut rates in June. However, after running higher and extending to the 100 bar moving average on the 4-hour chart at 1.36736, technical sellers who could define and limit risk leaned

GBPUSD stretches to next key swing area The GBPUSD is stretching to a new high for the day and in the process has reached a new swing area between 1.27229 and 1.27351 (see red numbered circles on the chart above). That area was home to a resistance and support stall area on the way up

EURUSD keeps banging at the 100 hour MA Looking at the hourly chart of the EURUSD below, the 100-hour MA has been in play over the last 7 or so trading days. The tests of the moving average over that time has found support buyers ahead or soon after a small dip below the MA

Fundamental Overview Gold got a boost from the benign US CPI report on Wednesday where the data came in line with expectations. The market firmed up the rate cuts expectations with September and December now fully priced in. The Treasury yields and the US Dollar weakened as a result supporting gold prices. In the bigger

Fundamental Overview The S&P 500 has been rallying almost non-stop since the FOMC meeting, and thanks to the miss in the NFP report and the benign CPI report the price eventually hit a new all-time high yesterday. We are currently seeing a bit of a pullback, which is totally normal after such a strong run.

Fundamental Overview The more dovish than expected FOMC decision eventually marked the bottom in many risk assets including Bitcoin. In addition, the benign US CPI figures on Wednesday were the trigger for the risk-on sentiment that took US stocks to new all-time highs and boosted the cryptocurrency. As long as the positive sentiment holds, we

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

The USDCAD has now retraced the earlier gains in trading today. The price is now down testing a swing area between 1.3604 and 1.3615. A move below that level will have traders looking toward the 38.2% retracement of the move up from the December 2024 low to the high price reached in April. That level

In the kickstart video today (CLICK HERE), I spoke to the corrective move lower in the EURUSD and what needed to happen to either give the sellers more control, or keep the buyers in control. More specifically, I spoke to the 5-minute chart below, showed how the 100/200 bar MAs were holding resistance once broken

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 move to the upside continues and the major indices are not on pace to all close at record levels today. Dow record high close coming into the day was at 39807.38. The index is up 274 points at 39832 currently. Both the Nasdaq and S&P closed at record levels yesterday. ANything positive today would

The USDCAD fell in response to the weaker than expected US data, and on the move to the downside, tested the key 38.2% retracement of the move up from the December 2024 low. That level came in at 1.35899. The low price came in at 1.35895. The price has rebounded higher and pushed the price

GBPUSD just short of the 50% of the 2024 trading range The GBPUSD is trading at a new high and in the process is moving to the 50% midpoint of the 2024 range. The midpoint level comes in at 1.25957. The high price today has come in at 1.25922 (see 4-hour chart above). That midpoint

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

The AUDUSD fell in the early Asian-Pacific session, and in the process tested a short-term swing area seen over the last few weeks at 0.6585. Points are held, the price reversed and started to extend the upside. The move has now taken the price above the 50% midpoint of the move down from the December