Technical Analysis

The USDCAD has seen down and up price action today. The low for the pair was reached soon after the CPI data this morning. That low dipped below the swing low from April 18 and April 17, but quickly rebounded with the dollars rebound back to the upside. The move back higher took the price

The NZDUSD continued its move to the upside today by making a new high going back to February 14, 2022. The high price extended above the April high of 0.63765, reaching 0.63801. Looking at the daily chart, the price did stall ahead of the top of a swing area between 0.6363 and 0.63891 (see red

The price of WTI crude oil futures have reversed course and then back above its 200 hour moving average at $72.62. A report saying Russia said its oil output cuts almost hit its pledged goal in April, turned sellers into buyers. The high price is reached $73.50. The next upside target comes in at the

The price of WTI crude oil has dipped to a new session low at $71.84. The high for the day reach $73.08. The current prices trading at $71.91. Looking at the hourly chart, the price yesterday moved back above its 200 hour moving average (green line currently at $72.64), but found sellers near the 50%

The major US stock indices are ending the session with mixed results in what has been a quiet Monday. The Dow industrial average fell modestly. The S&P was near unchanged, and the NASDAQ index rose modestly. The final numbers are showing: Dow industrial average fell -55.71 points or -0.17% at 33618.68 S&P index rose 1.87

In the earlier video, I spoke to the 100/200 hour MAs as being key barometers for the short term bias in the EURUSD (see video here). As long as the price remained above the moving averages, the bias was bullish. A move below and the bias would shift back to the downside. The EURUSD has

The USDCHF moved to the lowest level since January 2021 this week, but found support buyers against state support area from the end of 2020/early 2021. In trading today, the pair got a boost from lower Swiss CPI inflation. That took the price above the 200 hour moving average or support buyers leaned. The US

The EURUSD was a trading near the converts 100/200 hour moving averages before the US jobs report. The data push the price down to support near the 50% retracement at 1.09632 (and a swing area we would between 1.0961 and 1.09653). The fall stalled. The price it started to move back to the upside. The

S&P 500 E-mini Futures Weekly Technical Analysis: A Simplified View In this technical analysis of the S&P 500 E-mini futures , we focus on the weekly timeframe to provide a clear and simplified picture without using numerous indicators. The aim is to decrypt the story the S&P 500 is telling and identify potential entry points

The major US stock indices are continuing their run to the upside with the NASDAQ index leading the way with again over 2%. The Dow industrial average is up 1.4%. The additional gains come after Fed’s Bullard said that policy changes don’t have to end with a recession (he does not have a recession as

The GBPUSD has reached the high today of 1.2652. The current price is trading at 1.2642. At the high, the price got closer to its swing high going back to May 8, 2022 near 1.2665. A move above that level would have traders targeting this 61.8% retracement at 1.27605. On the downside, traders will be

The US jobs report remains strong..kind of. The nonfarm payroll added 253,000 jobs but there were revisions to the prior month of -149K. Nevertheless the unemployment rate at 3.4% is still at record low levels. Gotta think that the baby boomers retiring just will keep unemployment rates lower until that point when AI starts to

Gold prices reached a new record high today. Spot gold rose to a record high of $2,081.82 per ounce. That move took out the 2022 and 2020 highs between $2070.59 and $2075.14.. The current price trades back below those levels that $2049.87. That’s still up $7.07 or 0.34% on the day. Going forward it would

The USDJPY is moving to a new session low and in the process is moving away from the 50% midpoint of the move up from the April low to the May high reached earlier this week. The midpoint level comes in at 134.177. The current price trades at 134.00 . The next target comes between

The USDCAD has seen the price move down to test key support near the convert 100 and 200 hour moving average at 1.3587. Below that is a swing level near 1.35825. The low price reached 1.3581 just below those levels, but has bounced back higher. Sellers could not extend below that target level with any

On the daily chart below for EURUSD, we can see that the price keeps on trying to breakout the 1.1033 high, but as of now all the attempts failed. The red long period moving average is offering support for the buyers, but the sellers above the 1.1033 high are very strong and if they succeed

The GBPJPY has moved lower today, after the high today took out the high from October 2022, and traded to the highest level since 2016, but quickly failed. The high from 2022 reached 172.118. The high from today reached 172.314. However, momentum stalled and the price reversed lower. The pair currently trades at 170.32. The

The WTI crude oil futures to settle at $75.66. Down $-1.12 or -1.46%. The high price reached $76.69. The low price was down to $74.53. Looking at the daily chart, the price last week moved back below the 100 day moving average (blue line in the chart above) at $76.68. On Friday the price tested