Technical Analysis

The USDJPY has continued it trend like move the upside today. In the process the price cracked above the 100-day moving average and 61.8% retracement of the move down from the November high. That level came in at 147.45. The subsequent run to the upside after that break, so the pair move up to a

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The GBPUSD is back down testing the low for the day in what has been a big move lower for the pair today. The price of the GBPUSD is down -0.77% currently. In the move lower today, the price finally broke away from an up and down area and away from the 100 and 200

USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment Rate was left unchanged. Moreover, the Dot Plot was

Gold Futures Trade Idea 📉: I’m targeting a short position on Gold Futures with an attractive risk/reward ratio of 5 to 1. Please note that this trade is speculative and should be considered at your own risk. Technical Outlook for the Gold Futures Short 🔍: Entry Price: 2067.8, wait to fill Partial Profit Target: 2000.8

The S&P index is open, higher and trading above and below the all-time highest close ever at 4796.57 The gains are modest. Yesterday, the S&P did move above that level again and backed off. Is today the day? S&P index is testing its all-time high closing level A snapshot of the market currently shows: Dow

The USDCHF has moved lower after the weaker-than-expected PPI data. That news sent yields in the US tumbling to the downside, and has now pushed the price of the USDCHF below its 100 and 200 hour moving averages near 0.8508 (dollar selling). The low-price extended to the low-price from yesterday at 0.8487. Looking at the

S&P failing on break above all-time high close The all-time high close for the S&P index is at 4796.57. Back on December 28, the high price reached 4793.19 and backed off. Yesterday the high price extended above the all-time high close reaching 4798.50, but backed off. Today’s high price extended to 4802.40 and with the

The USDCAD is pushing back to the upside in what has been a volatile up-and-down trading day. That is congruent with a volatile up-and-down trading week. The high price this week was reached yesterday when the price extended above a swing area between 1.3398 and 1.3414. The high price reached 1.3442. But I returned to

Crude oil futures falls from highs but find support at MAs Crude oil futures are settling at $72.68. That represents a gain of $0.66 or 0.92%. The high-priced extended to $75.25. The low price reached $72.36. The sharp rise to the upside was spurred on by the US and UK bombing of Houthi rebel in

USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment Rate was left unchanged. Moreover, the Dot Plot was

The AUDUSD moved lower with the dollar buying today and in the process, fell below a floor at 0.66767 that defined the low of what has been a narrow trading week (from low to high only about 60 pips). The extension lower saw the price extend to a new low for the week to 0.6646

S&P indexes closer to its all-time high closing level The major stock indices are trained to new session highs. In the process, the S&P index is now within about 12- 13 points of its all-time high closing level of 4796.57. The high-priced just reached 4784.73. The high-priced reached near the end of December reached 4793

The comments from NY Fed President were a bit more hawkish: Federal Reserve’s Monetary Policy Stance: Stresses the need for a restrictive policy stance for some time. Suggests the Fed can cut rates when confident that inflation is moving back to 2%. Reiterates that the Fed’s work to bring inflation back to 2% is not

Nasdaq index moves closer to its 100 hour moving average The Nasdaq index has now erased its -127 point decline and trades positive on the day. The index is currently up 12.74 points or 0.09% at 14857. The rise puts the price closer to its 100-hour moving average at 14876.83. A break above the 100-hour

The USDJPY has seen up-and-down price action today, and in the process, traded above and below its 100-hour MA at 144.26. The most recent run has been to the upside and with that move, the price has moved back above the 100-hour MA. So going into the new trading day, the buyers are holding a

USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment Rate was left unchanged. Moreover, the Dot Plot was

The major US stock indices rebounded after its first declining week last week in over 2 months (9 week win streak). The Nasdaq index surged over 319 points or 2.20%. The Dow Industrial Average which was dragged down by Boeing shares (down $-20.26 or -18.1%) still closed higher by 0.58%. A snapshot of the final