Technical Analysis

AUDUSD retests 100 hour moving average In a earlier post/video, I spoke to the 200 hour moving average and the 50% midpoint of the September trading range near the 0.6415 level as a key downside target that would need to be broken to increase the bearish bias. It was not broken. In fact they price

The uncertainty around inflation due to another increase in energy prices and the risk of a recession continue to keep Gold in a range. In fact, we saw a rally in Gold around the end of August as the US data started to surprise to the downside with the labour market indicators showing weakness, but

This week, the USDCHF has experienced an upward price movement, consistently remaining above the key swing area range of 0.89347 to 0.89472. The price surpassed this range in yesterday’s trading session and has maintained its position above this threshold today. Looking upwards, there’s a notable trend line at 0.8984, followed by a significant range between

The major US stock indices are trading at session lows as European traders start to look for the exits for the week. The NASDAQ index is now down around 1.3%. The S&P index is down -0.89%. All the major indices are back below its 50 day moving averages after closing above those moving averages yesterday.

The AUDUSD traded at the week’s low on Monday in the 1st hour of trading at 0.63706. The price moved sharply higher on that day, but by Wednesday, the price had rotated back down toward the lows into a swing area between 0.63791 and 0.63874. Support buyers came in against that level and pushed the

The EURJPY is trading in and up and down range over the last 5 – 6 weeks with most of the activity between 156.86 and 159.48. There have been a few wonders above and below that area, but those breaks were brief and did not gather much momentum. In trading today, the price has rebounded

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

US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. The US CPI this week came in line with expectations, so the market’s pricing remained roughly the same. The labour market displayed signs

Crude oil traded above $90 for the 1st time since November Crude oil prices have risen by $1.33, marking a 1.5% increase, and are currently trading at $89.85. Today’s peak reached $90.26, the first time it surpassed $90 since November 8, before retracting slightly. A few key observations from the daily chart: On September 1,

Yesterday, the US CPI report came basically in line with expectations as the market was already expecting higher energy prices to push up the August inflation readings. The Core measure, which is what the Fed is focused on, was in line with forecasts with the monthly figure just a touch higher than expected. The core

Ethereum keeps on falling and making new lows as the outlook is turning more and more bearish given the headwinds from global growth and tight monetary policies. All the positive news eventually gets faded, which is another sign that the big picture trend remains bearish. Amid this high uncertainty, the technicals can help with risk

Crude Oil keeps on surging to new highs as the supply side gets squeezed more amid resilient global demand. In fact, the OPEC continues to forecast robust growth for oil demand in 2023 and 2024 while keeping supplies tight as we saw last week with the Saudi Arabia and Russia extending the voluntary supply cuts.

US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. Inflation measures since then showed further disinflation. The labour market displayed signs of softening although it remains fairly solid. Overall, the economic data

US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. Inflation measures since then showed further disinflation. The labour market displayed signs of softening although it remains fairly solid. Overall, the economic data

Last week the US data surprised to the upside with the ISM Services PMI and Jobless Claims beating expectations by a big margin. The market didn’t like the strong data as it raises the chances of another rate hike in November. In fact, the Nasdaq Composite sold off following the PMI beat with some consolidation

Gold is still stuck in a range as the economic data remains mixed. We got very strong economic releases in August that led to a selloff in Gold as real yields and the US Dollar rose, ultimately weighing on the yellow metal. In the past couple of weeks though, the data started to weaken, especially

Yesterday, the US ISM Services PMI beat expectations by a big margin and caused a selloff in the Nasdaq Composite. The market pricing for future interest rates expectations turned a little bit more hawkish with basically a 50/50 chance of another hike in November and less rates cuts in 2024. Last week we got a

US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. Inflation measures since then showed further disinflation. The labour market displayed signs of softening although it remains fairly solid. Overall, the economic data