Technical Analysis

The USD is tumbling lower as major pairs make a break for it. The USD is now the weakest of the major currencies . The AUD remains the strongest. Looking at some of the major pairs. EURUSD is trading at the highest level in over a year now after breaking above the February high at

The NASDAQ index is trading at new session lows, with the price reaching 11935.04. The current price stands at 11936.80, down -96 points or -0.80%. Technically, the decline has pushed the index below its rising 100-hour moving average, currently at 11961.50. This marks the first time the price has traded below this moving average since

The USDJPY moved down after the US CPI data. Yields moved sharply to the downside with the two-year yield moving to a low of 3.876%. However the deal that’s since rotated back to the upside and currently trades at 4.014%. That is still down on the day but well of the low. The 10 year

The USDCAD ticks to a new low less than 24 hours until the BOC rate decision at 10 AM ET tomorrow. The central bank is expected to keep rates unchanged with a 10% chance of a 25 basis point hike. For most of the North American session, the price has been able to stay below

US yields are moving higher and it is leading to a back to the upside in the US dollar: 2 year yield is at 4.064% up 5.6 basis points. 5year yield is at 3.566% up 4.7 basis points 10 year yield is at 3.448% up 3.4 basis points 30 year yield is at 3.635% up

The NZDUSD is lower on the day. The low price today moved below a swing area on the hourly chart above between 0.62019 and 0.62108. It also fell below the low price from Friday’s trade 0.6208. The low price extended to 0.619256 in the early US session, but has rebounded over last six or so

The USD has been stalling over the last 4-5 hours. EURUSD: The EURUSD fell below a swing area between 1.08629 and 1.0871 early in the US session. The price also fell below a rising trend line at 108.577. The low price extended to 1.08305. One could look to 1.08223 and 1.0800 the next target on

The Canadian employment data exceeded expectations, with an employment change of 34.7K compared to the estimated 12.0K. The unemployment rate dropped to 5.0%, better than the 5.1% prediction. Initially, the USDCAD dipped, reflecting a stronger Canadian dollar, but it later reversed and reached new session highs for the day, with the highest price at 1.35023

The dollar’s recent strength seen today is being led by a decline in the NZDUSD (higher USD), which is currently down by 1.2% at 0.6245, reaching a low of 0.6238. Technically, during the US session, the NZDUSD broke below a key support area between 0.6263 and 0.62699, as well as the ascending 200-hour moving average

Yesterday, the USDCHF reached its lowest level since June 2021, touching 0.9000(4) before bouncing back. However, selling pressure emerged near the March 13 swing low and the 38.2% retracement of this week’s trading range, which is located at 0.9075. The pair’s high yesterday was slightly above this level at 0.90756, while today’s Asian session high

S&P 500 e-mini futures technical anaysis video and price forecast In the above video, I will discuss the recent bullish outlook on the S&P 500 E-mini Futures based on technical analysis. The price forecast indicates a minimum target of 4170 for this week, with potential for further growth. Let’s delve deeper into the key points

Interesting stocks reporting quarterly earnings in April 2023 As quarterly earnings season kicks off in April, several well-known companies have seen their stock prices nearing 50-day lows, potentially signaling a buying opportunity for investors. This article highlights notable stocks across various sectors and countries, along with their earnings release dates. You are invited to continue

SPX technical analysis video highlights Bull Flag Formation on the daily timeframe: The S&P 500 Index exhibits a potential bull flag pattern (marked in pink on the above technical analysis video), This formation often signals a continuation of the existing trend, if price should breakout up, and it seems that it is holding and not

The EURUSD began the New York session with a decline following the better-than-expected initial jobless claims data. In this morning’s analysis, we discussed the importance of the 100-hour moving average at 1.0898, and how staying below that level was necessary to maintain a bearish bias. However, as seen in the chart above, the price failed

The NASDAQ has moved to a new session high and in the process has turned a negative day into a positive day. The current price is up around 40 points or 0.33% at 12036.70. The high for the day reached 12041.29. The low extended to 11898.36. At the low, the index was down -98.50 points.

The USDCHF fell sharply in the early NY session and in the process moved below the swing low going back to early August 2021 at 0.90178 (see red numbered circles on the daily chart above). The low price today reached to the nice round number of 0.9000 where some traders put a toe in the

During the morning technical forex video, I identified the 1.0925 level as a support that, if broken, would lead traders to target the rising 100-hour moving average (blue line, currently at 1.08975). The 1.0925 level was indeed breached, with the low price reaching 1.0902, just four pips above the 100-hour moving average, before bouncing back.

The price of WTI crude oil futures traded up and down in trading today. The high price reached $81.81. The low price extended to $79.61. Yesterday the price settled at $80.42. Today the settled price is modestly higher at $80.71. That’s up $0.29 or 0.36%. Looking at the hourly chart above, the price remains between