Technical Analysis

The buyers have plowed into the AUDUSD today. The low to high trading range is around 90 pips which is near double the 22-day average (month of trading) of 47 pips. That range is the 4th largest for the year, and the largest since February 13. So it is something to shout about. The move

Meta shares fell sharply, after the outages on Facebook and Instagram this morning (see post here). The price has bounced back with the current price now down -$5.00 or 1.00%. At the session lows, the price was down as much as -$10.09 (at session lows). Technically speaking, Meta moved and closed above its previous all-time

The USDJPY pair experienced a downturn, signaling a shift towards a bearish momentum in today’s trading session. Despite this decline, the currency pair found some support at a critical swing area near 149.70, which prevented further losses and led to a modest bounce. This level has proven to be a pivotal point for the pair,

Crude oil The price of crude oil has moved to new lows and in the process fell below its 100-hour moving average at $78.86 on its way to a low of $78.56. At session lows, the price tested the low of a swing area between $78.52 and $79.29. Support buyers came in against the level

The NASDAQ index has now joined the S&P index in positive territory as the day works toward the final hour of trading. The index is currently at 3.65 points or 0.02% at 16277. A positive close would be a record close for the index. NASDAQ index is on pace for a record close Meanwhile, the

The USDCHF Is breaking to the upside and in the process is running away from a cluster of moving averages including its: 100-bar moving average on the four-hour chart at 0.87946, 100-hour moving average at 0.8798, and its 200-hour moving average at 0.8802. The price is also breaking above a ceiling going back to last

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

USD The Fed left interest rates unchanged as expected at the last meeting and dropped the tightening bias in the statement. The US PCE came in line with expectations. The US Jobless Claims missed expectations although the data is still in the recent ranges. The latest US PMIs increased further from the prior month with

NZDUSD keeps finding support at the 200 day MA The NZDUSD moved sharply lower yesterday after the Reserve Bank of New Zealand rate decision was unchanged with a more dovish bias. That was in contrast to the market assessment that the central bank would be more hawkish (and perhaps raise rates). Looking at the 4-hour

The RBNZ kept rates unchanged at 5.5%, and were more dovish in their projections and their comments. As a result, the NZD is tumbled lower. The NZDUSD has broken through some key support levels. The 100 and 200-bar moving averages on the 4-hour chart were broken at 0.61310 and 0.6126. More recently in the North

The USDJPY has moved up toward the 2024 hi at 150.87 on two separate occasions today. The first attempt stalled and the price rotated back down to retest its 100-hour moving average (currently at 150.532). The second run to the upside occurred in the US morning session and it moved up once again toward that

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

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

Target range The Reserve Bank of New Zealand will meet and announce their rate decision on Wednesday morning in New Zealand (8 PM ET in the US. The expectations are for central bank to keep rates unchanged but to keep the door open for potential tightening in order to bring inflation back down toward the

The EURUSD yesterday had an up-and-down move yesterday. On the way down, the price moved back below the 200 bar MA on the 4-hour chart at 1.08367, the 200-day MA at 1.08246, but found support buyers at the 100-day MA at 1.08028. Buyers saved the day by leaning against the 100-day MA. Going forward, the

In the dynamic world of stock trading, the NASDAQ Composite Index remains a focal point for investors and traders alike. With markets fluctuating based on a myriad of factors, understanding the technical landscape is crucial for those looking to navigate the waters of investment successfully. In this article, we distill the complex world of NASDAQ

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