Technical Analysis

The major US stocks indices are closing the day mixed (the Nasdaq closed modestly higher) The S&P is down for the 4th consecutive day and is closing below the 4000 level. The Nasdaq snapped a 3 day decline The Dow was the worst performer with a decline of -0.25% The final numbers are showing: Dow

The AUDUSD has reached a new session low of 0.68104. That barely took out the early European session low of 0.68106. The low from last week reached 0.6811. The hold up at the low is the 200 day moving average which currently comes in at 0.68038. Dip buyers are leaning against the key moving average

With US growth seemingly not abating, inflation still a concern, and the US dollar coming off a more than 50% correction adding to potential inflationary forces, does the US dollar have to continue the move back higher to get things back in balance? It makes sense and indeed the dollar has been stepping higher. Looking

The major US stock indices are sliding to a new session lows: Dow Industrial Average is down -482 points or -1.43% at 33338.52 S&P index is down -56.4 points or -1.38% at 4022.70 NASDAQ index is down -202.22 points or -1.72% at 11584.50 Looking at the S&P index, it fell below its 200 hour moving

The RBNZ will be meeting and announcing their rate decision on Wednesday in New Zealand (8 PM ET/0100 GMT). The expectations are mixed (from 0 bps to 50 bps) as the RBNZ ponders putting off an expected hike after the devastating cyclone last week. Eamonn posted that KiwiBank has weighed-in saying the expected hike of

The AUD is the strongest of the major currencies today, and the move to the upside in the AUDUSD is now approaching a key resistance target defined by both the 50% midpoint of the move down from last week high (at 0.70287), to last week’s low (at 0.68117). That retracement level comes in at 0.6920.

In my last post on the EURUSD, I said: “Looking at the hourly chart, the price bounce moved back above the swing low from Monday, Wednesday and yesterday and the swing low from last week. That area comes between 1.0653 and 1.0668. The price is back in that swing area. Can the 1.0653 level now

The AUDUSD bounced near the 200 day MA earlier today. The low reached 0.68117. The 200 day moving average was 0.68054. So the price got within six – seven pips of the key moving average target. Close enough for risk focused buyers. The price of the AUDUSD has seen steady buying in the US session

The price of WTI crude futures is settling at $76.34. That’s down $2.15 or -2.74%. The low price reached $75.32. High price was at $70.50. For the trading week the price is down about -3.9%. At the week high of $80.60, the price was up $0.90 versus the close from last Friday. At the week

The EURUSD has continued the grind higher and has now reached the 100 hour MA at 1.0699 target (see earlier post). The high price just reached 1.06977 – just a pip or so short of that target. You can expect some profit taking into the weekend in this area. The 200 hour MA is up

The USDCHF broke to the upside today extending above the topside swing area between 0.9278 and 0.9290. The break increased the buying momentum with the price extending to a higher 0.93308 before rotating back to the downside. After trying to hold support against the previous high from February at 0.92904, the price broke lower in

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

After barely taking out the low from Monday at 1.06547 earlier today (the low reached 1.06536), the EURUSD started the recovery higher. The price has now erased the declines for the day and is above the close from yesterday at 1.0686. The current price is trading at 1.06945. The next target is at the falling

With a slew of data out today and Fed speakers on the schedule, the EURUSD is in a narrow 43 pips trading range. That compares to 86 pip average over the last month of trading. The price tried to move higher in the European session, but found willing sellers against its 200 hour moving average

The AUDUSD trended lower in trading today and is the weakest of the majors. However, it has found some support in a swing area floor that has formed going back to early January (see red numbered circles). Looking at the hourly chart, that floor comes in between 0.68549 and 0.68706. The low price today reached

The major US stock indices are opening with declines as strong retail sales keeps the Fed on track for more tightening. The good news is the economy remain strong which is good for future growth/earnings. The bad is that growth may be inflationary which could lead to a much tighter Fed, which could sap strength

The price of WTi crude oil is settling at $79.06. That is down -$1.08 or -1.35% on the day. The high for the day reached $79.61. The low extended to $77.46. Looking at the daily chart, the price had moved up 5 of the last 6 trading days before today. That took the price up

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