Technical Analysis

Gold sure had a wild trading day with the price initially spiking higher in racing to a new all-time high level of $2146.79. However, momentum faded in the price quickly rotated to the downside. The price is currently down $-44.33 or -2.14% at $2027.54. The low price for the day reached $2020.26. That low tested

The NZDUSD moved lower with the USDs run higher, but has snapped back higher after testing the high of a swing area going back to the end of July/early August between 0.6104 and 0.6117 (see red numbered circles on the chart below). The low price reached 0.6118 and bounced back higher. We are currently trading

The NASDAQ is on pace for its 2nd consecutive day to the downside. The price has been down 4 of the last 5 trading days. That sounds ominous, but the price is only down -0.85% over that period – with today’s decline of -0.78% the bulk of the decline. Also for the month, the index

In today’s trading, the USDJPY experienced a notable rebound, with its key technical targets positioned above, including the 200-hour moving average at 148.45, a swing area between 148.44 and 148.59, and the 38.2% Fibonacci retracement of the decline from the November 13 high at 148.665. The pair briefly surpassed the 200-hour moving average, reaching a

Tesla Inc. (TSLA) remains a highly watched stock in the market, with its daily price movements offering significant insights for investors. Equipped with an updated chart featuring detailed price labels, this analysis will integrate these specific price points to offer a refined perspective for both swing traders and long-term holders considering their positions in TSLA.

EURUSD falls to technical barometer near 38.2% retracement The EURUSD pair recently hit a new session low, testing a critical swing area and the 38.2% Fibonacci retracement level, ranging between 1.0878 and 1.0887. The pair’s low touched 1.08829, influenced partly by the Eurozone CPI coming in weaker than expected, which favored the downside. Technically significant,

The Reserve Bank of New Zealand’s decision to maintain interest rates at 5.5% was anticipated, but their stance leaned towards the hawkish side. They didn’t dismiss the possibility of future rate hikes to manage inflation. This sentiment drove the NZDUSD price up, surpassing the 61.8% Fibonacci retracement level of the July to October downward movement,

The AUDUSD broke above its 200-day moving average of 50% midpoint of the move down from the July 2023 high on Monday (near 0.65824). The pair also moved above the high of a swing area at 0.6595. That area between 0.6582 and 0.6595 is now support. If the technical bias is to increase more to

The USDJPY saw a notable decline during the U.S. trading session, with its downward movement intensifying after breaking below the critical 148.00 level. This break led to a sharp drop, bringing the pair to 147.33, a significant swing low that previously marked the beginning of a rally to the recent Wednesday high. For a stronger

The Reserve Bank of New Zealand is set to announce its interest rate decision at 8 PM ET, with expectations leaning towards maintaining the current rate of 5.5% for the fourth consecutive meeting. Key levels to watch in the NZDUSD pair in relation to this decision are: The 200-day moving average and the 50% Fibonacci

USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt. The recent US CPI missed expectations across the board bringing the expectations

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 USD is moving to new session lows vs all the major currencies with the exception of the JPY. The declines come despite rise in US yields. The US 2-year is up 3.2 bps, the 10-year is up 5.8 bps, and the 30-year is up 5.6 bps. EURUSD: EURUSD moves from 100 hour MA 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

The AUDUSD fell yesterday but bounced off a key floor support near 0.6522. The move higher today has come off highs but is so far holding the rising 100 hour MA support. Staying above keeps the buyers more in control and will have traders looking toward the 50% midpoint of the move down from the

USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt. The recent US CPI missed expectations across the board bringing the expectations

The NASDAQ index reached a high of 14539.61 today. That price extended above the high closing level for the index in 2023. That high close came in at 14358.02 reached on July 19. That was the same day that the intraday high price for that index was reached at 14446.55. NASDAQ index traded above its