Technical Analysis

USDCAD falls below its 200 hour moving average The USDCAD has moved lower after BOC Macklem’s more hawkish comments. Technically the price moved below its 200-hour moving average at 1.3662. And now approaches the 38.2% retracement of the move up from the September 19 low at 1.3629 and more importantly the 100-hour moving average at

EURUSD reaches the high of swing area target The EURUSD has moved down to a new low and in the process has reached the high of a swing area between 1.0483 and 1.0500. The low price has reached 1.0496 so far. The swing area is home to a number of different swing lows going back

The AUDUSD is falling to a new session low, and in the process is looking toward the October low at 0.62849. That was also the lowest level going back to early November 2022 (nearly 1 year ago). In trading yesterday, the price fell sharply on US dollar buying after the higher than expected CPI and

GBPJPY tests/breaks below 100 day MA Looking at the daily chart, the 100 day moving average currently comes in at 181.64. The price has just dipped below that level and currently trades at 181.57. Admittedly, earlier this month, the price fell below the moving average level for the 1st time since March 2023, but could

Crude oil prices surge today The price of WTI crude oil is extending above the $87 level to a high of $87.37. Oil prices have surged today following the U.S.’s enhancement of sanctions against Russian crude exports, amplifying supply anxieties in an already constrained market. The U.S. targeted tankers carrying Russian oil priced above the

Kickstart your forex trading on October 13 with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD. EURUSD: The EURUSD is trading up and down today with the highs stalling against a swing area between 1.0551 and 1.0557. Ahead of that is the 200-hour moving average 1.05484. Stay below that area and

The US CPI data this morning pushed the dollar higher, AND now the crummy 30-year bond auction has exasperated the push higher in the greenback sending major currency pairs against the US dollar through technical levels in the process. Bond yields are higher. Stocks are lower. In this video, I look at some of the

Kickstart your forex trading on October 12 with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD. EURUSD: The EURUSD has moved lower after the stronger-than-expected CPI data and in the process the price move below its 100-hour moving average at 1.0585. The price did stall at the broken 38.2% retracement of

The price of WTI crude futures are settling at $83.49. That’s down $-2.48 or -2.88%. The low price today reached $83.17. The high price was at $86.48. Crude all tests key swing area Technically looking at the daily chart above, the price moved back into a key swing area between $82.35 and $83.32. However, the

Kickstart your forex trading with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD. EURUSD: The EURUSD traded up and down in the Asian and European morning session and then moved lower after the insured expected PPI. Over the price has rebounded since then and currently trades just below the 50% midpoint

USDJPY trades back below the 100 hour MA. Bearish. The USDJPY moved higher into the US session today, and in the process moved between the 100-hour MA (blue line at 148.83) and the 200-hour MA (green line at 149.129). The high price reached 149.09 which was just above the broken 38.2% at 149.069. The inability

The strongest to the weakest of the major currencies The EUR is the strongest and the JPY is the weakest as the North American session begins. The USD is mixed with the USDJPY the biggest mover vs the greenback (+0.40%). The USD is lower vs the EUR and the GBP to start the US trading

Last Friday, the Nasdaq Composite rallied following the big beat in the NFP report as the market continues to bet on the soft-landing scenario. Yesterday, the index opened lower following the outbreak of the war in Israel but bounced back soon after and closed higher as the events in the Middle East are unlikely to

Kickstart your forex trading with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD. EURUSD: The EURUSD continued its move to the upside after stalling the fall yesterday ahead of the 100-hour MA. That move made it to a key technical swing area and retracement at the 1.0606 to 1.0616 area on

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 stronger US jobs data has US yields moving sharply to the upside once again: 2 year yield 5.110%, +8.6 basis points 5 year yield 4.808% +12.5 basis points 10 year yield 4.86% +14.5 basis points 30 year yield 5.03% +14.4 basis points. Above the 5% level. Recall that earlier this week, the yield tagged

US stocks are lower with the NASDAQ and S&P index each down about -0.67%. US yields are higher with the 30 year yield at 5.0%. The 10 year yield moved up to a new high for the year at 4.887% before rotating modestly to the downside of 4.834% currently. The US dollar moved higher versus

Whether you like the price action or not, the technicals in the EURUSD told the story for the price action. Initially, the price moved sharply lower after the stronger-than-expected nonfarm payroll add. That move took the price to a key support level at 1.0483. I’ve outlined that level as a key downside target to get