Technical Analysis

During the Asian and early European session, the EURJPY witnessed a decrease, with the movement dropping below the 200-hour MA (green line). The noteworthy part here is that yesterday’s price lows rebounded from the 200-hour MA, but just below was the 50% retracement of the uptrend from last week’s low. That level landing at 148.59

The AUDUSD is trading to a new session low at 0.66529. The pair has moved back into the trading range from after the RBA rate hike yesterday. Earlier today the price broke to a new high going back to mid-May. That move higher yesterday took the pair above the 50% midpoint of the May trading

The USDCHF is having another up-and-down trading day today with the price trading above and below its near converged 100 and 200-hour moving averages (near 0. 9070). The early US sessions saw the price moving low but was then boosted after the Bank of Canada rate hike. Momentum took the price back above the 100

Given the last hot CPI report, the BoE is expected to keep raising rates as it combats with one of the highest inflation rates among the majors. The BoJ keeps standing pat with its loose monetary policy that contributed to one of the strongest JPY depreciations in several years. This policy divergence made the GBPJPY

The USDCHF is mired in a up-and-down type of market environment. The downside, there is decent support near 0.9025 and 0.9035 (a red numbered circles). On the topside, price action over last 5 trading days comes between 0.9113 and 0.9119 (see blue numbered circles). There had been moves above and below those areas (see red

Last Friday, the NFP report once again surpassed expectations, extending its impressive streak to 14 consecutive beats. However, delving into the report’s details reveals less favourable findings. The unemployment rate experienced a significant leap from 3.4% to 3.7%, marking the largest month-over-month increase since the pandemic began. Furthermore, there was a slight decrease in the

Apple shares are down around $1.45 or -0.82% $179.43 after their WWDC23 event where they introduce the Vision Pro VR product. At $3499 and available only in the US at the start of 2024, it’s got a long way to go. Nevertheless, a beneficiary today has been Unity Software (U) whom Apple cited as working

The importance of price movement dynamics Understanding the dynamics of price movements in financial markets is a must for every trader. With the right tools, this process can be more straightforward and effective. A well-known tool for this is the Regression Channel, which can be more powerful when used with other technical analysis tools like

As we continue to explore the financial landscape of 2023, the spotlight remains firmly on the S&P 500. In this condensed follow-up to our previous analysis, we’ll take a unique approach to predicting this market’s trajectory, focusing specifically on the 4400 key level. Revisiting Our Previous Forecast In our earlier article, we delved into an

The AUDUSD made new cycle lows this week, but bottomed midweek and moved higher on Thursday and Friday. The move back to the upside took the pair back into a “red box” that confined price action for 3-months. The break failed. The buyers returned. However, the run to the upside on Friday ran into resistance

The buyers in the NZDUSD tried to break higher on Friday, moving above a key 200 hour MA on the hourly chart and swing level on the daily chart. However, momentum failed and the price rotated lower. Prior to the rally on Thursday and Friday, the price did break below the 50% midpoint of the

The story in equity markets for the past six months has been tech stocks outperforming value, in part due to expectations of a recession, in part due to the AI boom, in part due to poor commodity prices and in part due to bank-heavy value indexes that have been beaten up. That’s left the Russell

The EURGBP fell to the lowest level since December 2022 this week. The run lower moved into a swing area on the daily chart which has done a good job of defining resistance and support going back in time (to as far as 2021). The holding of that level has given buyers some support to

On the daily chart below, we can see that the USDCAD rejected again the 1.3650 resistance and fell back down towards the 1.3405 support. We have created a range here between the 1.3300 support and 1.3650 resistance. The USD appreciation caused by strong data in May and interest rates repricing on the hawkish side was

Looking at the daily chart of bitcoin , the price moved lower yesterday and tested its rising 100-day moving average. Support buyers came in against that level. Today the price was able to move below the 100-day moving average but found support buyers near the 38.2% retracement of the move up from the March low

In the morning video (and post) on the EURUSD, I pointed out the resistance against the 1.06908 to 1.07041 area. The price moved up in the morning US session and found sellers lining up against the 1.07041 level. To watch the video, click on the video below. The fall back to the downside has now

The USDCHF is up sharply today extending above a swing area on the daily chart between 0.9081 and 0.91015. The break above that area then targeted a dual technical level on the daily chart defined by the 50% midpoint of the 2023 trading range, and the 100-day moving average. Both of those levels come in

On the daily chart below, we can see that since the China reopening rumours/news back in November 2022, Copper has been rallying strongly as the market expected more demand for the metal considering also that China is the world’s largest copper importer and consumer. Those expectations started to ebb as China’s factory recovery kept on