Technical Analysis

The USDCAD has bounced higher in trading today after reaching a new low going back to September 13. That low today tested a swing area between 1.3074 and 1.3083. The low price reached 1.3092 before bouncing higher. The rebound to the upside moved back above the 50% midpoint of the move down from the October

The AUDUSD is coming off of the boil that saw the price move sharply to the upside over the last few trading days. That move to the upside saw the pair test the 61.8% retracement of the 2023 trading range at 0.68899. The price also moved up to test the high price from June 2023

The The price of WTI crude futures is settling at $75.42. That’s it down $-1.47 or -1.91%. Although down nearly 2% today, the price this week is still up 2.09% helped by a more positive technical view. Crude oil stalled at the 200 day MA this week Looking at the daily chart, the price moved

The USDCHF broke sharply to the downside this week following the dollar’s move lower on the back of lower CPI and PPI. The prices of imports also came in lower with the YoY now down -6.1%. That sent yields lower and it pressured the USDCHF as well. Technically, the price fell below January 2021 at

EURUSD putting some room between price and 200W MA The EURUSD is running to the upside, making another new high for the year and high going back to March 2022. The high just reached 1.12085. In the process, the pair is running further away from its 200-week MA at 1.1180. There was another swing level

The USDCAD broke below the 50% midpoint of the move up from the October 21 low at 1.3132, and the June 2023 low at 1.31157. The break led to a move to a new low for the year and low going back to September 2022 at 1.3106. USDCAD falls below 50% However, the price has

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The AUDUSD had a volatile up-and-down price action in the Asian/Pacific session. The price action initially saw the pair extend above its 100 and 200-day moving averages, the top of an up-and-down “red box”, and the 38.2% retracement of the move down from the June 16 high. The initial move to the upside stalled the

In the earlier post and video on the EURUSD at the start of the NY session, I expected buyers near what was resistance until broken yesterday That area came between 1.09618 and 1.09759. The price of the EURUSD moved to the high of that swing area, stalled and restarted a run to the upside. What

The AUDUSD current price is near the same level as it was 24 hours ago. And guess what, the technical levels are the same. The price is above the 100 and 200-hour MAs. Bullish. However, the 100-day MA (today at 0.66824), the 200-day MA (today at 0.66971), the high price from last week at 0.6705),

GBPUSD trades to new 2023 high The momentum has continued for the GBPUSD. It has now broken above the June and July highs near 1.2848. The price is currently trading at 1.28655. That takes the price to the highest level since April 22, 2022 Looking at the hourly chart above, the next Topside target comes

The AUDUSD is trading within a range over the last two weeks between 0.6594 to 0.67057. That’s not a big range. The ups and downs have allowed for the 100/200 hour MAs to center near the middle of that range between 0.6651 and 0.6661. Earlier today, the price fell below both those moving averages but

EURUSD moves to new week high The EURUSD has extended to a new session high and high for the week at 1.09329. The current price is trading at 1.0949. The high price in the EURUSD reached after the US jobs report extended to 1.0931 before rotating back to the downside. That move to the downside

The USDJPY is extending the declines with the pair now trading to the lowest level since June 22. The move today has now seen a high-to-low trading range of 210 pips. That is well above the 109 average over the last 22 trading days. So there may be some oversold component, but technicals will play

GBPUSD based at swing area and raced higher…. The GBPUSD is extended to a new high for the day and in the process is pushing to the high from June 22 at 1.28349 (breaking above that level now). The high from June 16 at 1.28478 is the next target. Move above that and the GBPUSD

EURUSD targets the swing area The EURUSD continued its run to the upside and in the process has now reached the next key swing area between 1.09618 and 1.09759. The high price reached 1.09725. The current price trades at 1.0966. The move to the upside took the steps outlined in the pre-employment video. IN that

Crude oil moves up to test its 100 day moving average The price of WTI crude oil futures settled at $73.86. That’s up $2.06 or 2.87%. The gain equaled the gain from July 5 which is the largest gain since June 15. The low price reached $71.19. The high price was at $73.91. The lower

AUDUSD tests 100/200 day MAs The AUDUSD is pushing to a new session high and in the process is testing its 200-day moving average of 0.66949. The price has already moved above its 100-day moving average of 0.66866. Staying above the 100-day moving average keeps the buyers firmly in control. On Tuesday and again on