Technical Analysis

As we turn the page into a new trading week for the GBPUSD, what are key levels in play and why? This week, the price of the GBPUSD moved above the 61.8% of the move down from the 2021 high to the 2022 low. That level comes in at 1.2760 and is now close support

As the clock ticks to the weekend, what are key levels in play and why now and heading into to the new trading week for the GBPUSD? This week, the price of the GBPUSD moved above the 61.8% of the move down from the 2021 high to the 2022 low. That level comes in at

The major JPY crosses all had huge weeks to the upside this week. Today, the BOJ kept rates and their yield curve control steady. They expect inflation to move lower. Ueda acknowledge the lower JPY but said there are goods and bads in currency moves. The USDJPY is higher by 1.74%, but it is the

This week, the Federal Reserve took a slightly more hawkish stance than expected. They decided to keep interest rates unchanged at a range of 5.00-5.25%, but they increased the projected terminal rate in the Dot Plot by 50 basis points. The FOMC chose to pause during this meeting to gather more economic data before making

The USDCAD is down-testing a key support target between 1.3207 and 1.32299. Looking at the daily chart below, that level was a ceiling in July and September 2022, then became a floor since breaking above also in September 2022. The level was retested in November 2022 and the swing low earlier this year in January

The Federal Reserve exerted a hawkish pause by skipping a rate hike but raising the terminal rate to 5.6% from 5.1%. That implies 50 more basis points hikes between now and the end of the year. The market which was thinking in terms of no change and the potential for no change in July, is

There is a little bit of this and a little bit of that in the Fed Chair comments and in the markets: In the forex, the major indices saw the dollar spike higher and then retrace. The US yields moved higher and came back off. The US stocks fell and recovered. EURUSD: The EURUSD moved

The USD weakened lately following a beat in the NFP data. The weak details, such as a higher unemployment rate and lower average weekly hours, contributed to this shift towards less hawkish expectations. A looser labour market should bring down inflation faster. Additionally, the miss in the ISM Services PMI, particularly the lower prices paid

The price of crude oil did rally sharply today with the price settling at $69.42 up $2.30 or 3.43%.The high price extended to $69.83. The low was at $67.15. Looking at the hourly chart above, the run to the upside today stalled just short of the 38.2% retracement of the run down from the June

The recent beat in the non-farm payrolls (NFP) data, followed by concerning factors like a higher unemployment rate and fewer average weekly hours, has resulted in a weakening of the USD. The market has adjusted its hawkish expectations to less hawkish ones because a looser job market can help reduce inflation. Additionally, the disappointment in

WTI crude oil futures are settling at $67.12. That is down $3.05 or -4.35%.The price low today reached $66.80. The high was at $70.33. Looking at the 4-hour chart below, the low price today extended below the low from May 31 at $67.03. That was the lowest level since May 4 when the price plunged

The USDCAD spiked higher after the weaker-than-expected jobs report this morning. The price which tested its low from early May at 1.33132 in the late European session (the low reached 1.33157), moved up to a high of 1.33688. That high tested the Asian session high at 1.33705. Sellers leaned ahead of that high, and the

The S&P index moved up to a high of 4322.62 today. That high price move between the 61.8% retracement of the move down from the January 2022 high to the low reached in October 2022 at 4311.11, and the swing high going back to August 2022 at 4225.28. The inability to extend above those levels

In this insightful look back at our January forecast for the E-mini S&P 500 futures, we find ourselves on the brink of reaching the much-anticipated 4400 level. This article will elucidate the pivotal factors that have contributed to this imminent achievement and offer an in-depth technical analysis of prospective market trends. Key Factors to Consider

The EURGBP is tumbling lower in trading today. The price is currently down -0.47%, and in the process took out the lows from early June at 0.85667. The pair is also below swing lows from December 2022 between 0.8546 and 0.8559. The low price just reached 0.8543. The close risk would be the early June

In an earlier post, I spoke to the selling seen in the EURGBP. It is tumbling lower today and as such, that tail is wagging the dog. Putting it another way, the EURGBP is influencing the price action in the EURUSD today. At the start of the New York session (see video HERE), the price

The NZDUSD moved higher today based on the lows against a swing area near the 0.60829 level before moving to the upside and breaking outside of what has been an up-and-down trading range until today (largely under the 0.6100 level). The move to the upside today did extend the range for the week and moved

The USDCAD is currently experiencing a dip in its trading value, with the lowest price point registered during early European trading hours. However, this decline halted at the same low point observed on May 10 and did not manage to reach the lowest price witnessed after the Bank of Canada’s rate hike yesterday. The lowest