Technical Analysis

EURJPY extends to highest level since 2008 The EURJPY extended above the high price from August 30 at 159.756 and in the process reached a new high at 159.908 going back to August 2008. That’s a 15-year high for the pair. The problem is, the high could only reach 14 pips above the August 2023

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The USDJPY moved below its 100-hour moving average earlier today at 149.82. The break below that MA (blue line) has taken the price to the 200 hour moving average at 149.649 (green line), and the low prices from Thursday and Friday at 149.64. Both those levels would need to be broken to increase the bearish

The EURGBP – a major cross-currency pair – has seen up-and-down price action today. The initial low found support near the low of a swing area and 0.86982. The subsequent move back to the upside took the price up to 0.8725 before rotating back down again to retest the low from earlier today. Now, the

NASDAQ index runs away from its 100 hour moving average The broader NASDAQ and S&P index are moving to new session lows. Investors are still concerned about geopolitical risks out of Israel going into the weekend. In the US, the US House of Representatives continues to be in flux. The declines are led by the

The EURUSD did find support bars against its 200-hour moving average 1.05665 (green line on the chart below), and remained above its rising 100-hour moving average 1.05616 as well.. That’s a short-term tilt to the upside. The not so hot news is that the high price stalled near the 1.0600 level after extending above the

The price of gold last Friday moved up to test its 100/200-day moving average (blue and green lines on the chart below). Sellers leaned against those levels and the price on Monday/Tuesday tried to keep a lid at those moving averages. However, on Wednesday, the price broke higher and it’s been trending to the upside

The GBPUSD tried to get above its 100-hour moving average for the 3rd day in a row. This time, the time above was quick (and the quickest of the three – see blue line on the chart below). The point is that buyers had their shot once again and the hurdle was the easiest this

The market still fears the 150.00 level in the USDJPY. There was a run above at the start of the month and a quick 280 PIP move back to the downside. This week, there was a 100 PIP tumble in a minute of trading on another BOJ fear schism. Technically, move above the 150.00 level,

The AUDUSD is in the midst of a down-and-up market today. The move to the downside did find support against the lows from yesterday near 0.62953 (and above the low from last week and 0.62858 too). The low price today reached 0.62967. The price rebound has moved up toward the high from the early Asian

The major US stock indices are trading to new session lows. The NASDAQ index is leading the way with a decline of -0.82%. The S&P is down -0.71% and the Dow Industrial Average is down -0.55%. The NASDAQ index tried to get back above its 100-hour moving average currently at 13389.92 in trading today, but

The USD/CHF pair initially rose today, testing a critical zone between 0.8982 and the psychologically significant level of 0.9000. However, sellers stepped in at the upper boundary of this zone, driving the price lower. Notably on the downside, the pair has now breached the 38.2% retracement level from the July low at 0.89808, marking an

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NASDAQ index tests a key cluster of support The NASDAQ index is the worst performer of the major indices with a decline of now over 1%. The move to the downside has now taken the price to a key support area. That support area is defined by the: 100 hour moving average at 13379.32 (see

As US yields rise, the 2-year yield is up by 12 basis points at 5.218%, and the 10-year yield is up by 13.7 basis points at 4.846%, both on track to close at their highest levels since 2007. Despite the USDJPY’s recent upward movement, traders appear hesitant to approach the 150.00 level. The currency pair

The AUDUSD initially moved higher during the Asian and European trading sessions but encountered resistance at its 200-hour moving average and the 50% midpoint of last week’s trading range, around the 0.6366 level. This resistance zone was tested twice. Later, during the early North American session, US retail sales data pushed the price lower, testing

The price of gold surged on Friday due to anticipated geopolitical risks in Israel, reaching a high of $1932.88 and surpassing both the 100 and 200-day moving averages in the process (blue and green lines on the chart above). However, in today’s trading, the price hit a high of $1932.63 but failed to extend further,

The USDCAD has moved modestly lower to start the trading week, and in the process is testing a swing area on the 4-hour chart between 1.3600 and 1.36125. Also, on the way on the downside is the rising 100-hour moving average at 1.3597, and its 200-bar moving average at 1.3576. Recall that the 200-bar moving