Technical Analysis

The USDCHF has extended to a new session low and in the process is dipping below the rising 200 hour moving average at 0.93619. The low-priced has just reached 0.93584. The last time the USDCHF price traded below its 200 day moving average was back on February 21 when the 200 hour moving average was

Stocks are looking good (jinx). Just when you thought the major indices were setting up for a tumble lower, a regional Fed president (Bostic) comes in and says something less hawkish than the rest (Waller, Mester, Kashkari), and its risk-on all the sudden. Technically, the major indices have also dug themselves out of bearish holes.

The major US stock indices are closing higher on the day. Both the S&P and NASDAQ index averted closing below a key 200 day moving average. The NASDAQ index already closed below the 200 day moving average yesterday. However the rise higher today push the index back above that bullish/bearish barometer. A look at the

In an earlier post, I spoke to the bounce higher in the EURUSD . The price moved above its 100 hour moving average . However to be really convincing from a technical perspective, getting above the 200 hour moving average at 1.06181 was required. As it played out, the swing low going back to February

The S&P index and NASDAQ index are both closing lower in the day. It’s the second consecutive day to the downside for each of those broader indices. The Dow Industrial Average squeaked out a small gain on the day. The S&P index tested its 200 day moving average at 3940.31. The low price reached 3939.05

The USDCHF is trading near the days midrange after finding sellers near what is the 4 day high and then finding buyers near the 4-day low. Looking at the hourly chart, the high price from Monday’s trade reached 0.94284. The high price today extended to 0.94278 just below that high in the early Asian session.

Bears have the ball for S&P 500 emini futures: A technical analysis for the last day of February 2023 The S&P 500 Mini Futures experienced a potential bull flag at a price junction, but unfortunately, it did not break out. Instead, it broke down and got rejected in a bearish close for the day. The

The EURJPY has come tumbling down and erased all the gains – and then some – as London/European traders closed the books on the month of February. Looking at the hourly chart above the pair raced higher in the late Asian/ early European session helped initially by the USDJPY moving higher. Shortly thereafter, the EURUSD

On the daily chart below, we can see that the resistance at the 12274 level held as the strong NFP report sent the market lower. Buyers had a hard time in February as pretty much all economic data beat expectations and made the market to revise higher future interest rates expectations and price out interest

On the daily chart below, we can see that the range between the 33538 support and the 34477 resistance got finally broken and led to a selloff to the 32684 key support level. The current bias is bearish as economic data in February beat expectations and led the market to price in a higher terminal

Forex Trading Strategies for the USD/ILS Pair: Tips and Analysis If you trade foreign exchange, you’re probably constantly on the lookout for possibilities to make a profit from your trades. In this post, we will walk you through the process of doing a technical analysis of the currency pair USD/ILS, as well as provide some

What exactly is meant by the term “technical analysis,” and how exactly does it have an impact on Meta Stock? Let’s begin by defining “technical analysis” and discussing how it relates to this discussion before moving on to particular methods for assessing and trading Meta sock. Technical analysis is the process of forecasting future price

The EURUSD moved above a channel trend line in the Asian session – helped by sideways and modest corrective price action. However, the break was short-lived, and the topside trendline started to see sellers leaning against it as the price wandered lower. That wander, transitioned to a run after the higher-than-expected core PCE data in

The USDJPY is testing the earlier high for the day at 136.46. Looking at the hourly chart, the pair spiked higher after the Core PCE, but then quickly rotated to the downside. That move tested the swing highs from last Friday and Tuesday before restarting the run higher. The move took the price through a

The USDCHF is stretching to the January and 2023 high at 0.94069. The price just reached 0.94058. There is some symmetry in the daily chart for the year. The move to the downside from the high took 19 days. The move back to the upside in February is on day 16. Looking at the chart,

The major US stock indices are seeing a bounce higher. The comments from that Bullard were less hawkish. As Adam points out if there’s a Fed official who would push towards 6%, it would be Bullard. However, he is not. Also helping is that the S&P index failed to correct below its 200 day moving

In an earlier post on the AUDUSD (and in the video for the day), I spoke to the breaking of the 200 day MA and the next target at the 38.2% at 0.67798. Unfortunately for the sellers, the 38.2% stalled the fall. The low reached 0.67808 just 1 PIP above the 38.2%% retracement target. The

The USDJPY on Tuesday, move above the high from Friday. The high on Friday reached 135.11. The price on Tuesday moved to 135.22, but could not sustain momentum and the price rotated back to the downside. That move lower, bottomed yesterday near the 100 hour MA (blue line) and the price rotated back to the