Technical Analysis

The USDJPY saw a brief upward correction following its earlier decline during the US trading session. This moderate rebound reached 131.88, falling just shy of the 200-hour moving average at 131.887. As long as the price remains below the 200-hour moving average (indicated by the green line in the chart), sellers will maintain a stronger

The GBPUSD is ticking to a new high as the day move closer to the close. In the process, the price on the daily chart has moved into a swing area between 1.24228 and 1.24458 (red numbered circles). If the price moves above that area it would open the door for another swing area between

The AUD is the strongest and the JPY is the weakest as the NA session begins. The OPEC+ news over the weekend shocked the oil markets. The price of crude oil is above $80 on the news after reaching $81.69. The bull and the bear is that supply cuts could put a floor on the

The USDCHF pair has recently witnessed both an upward surge and a downward rotation, ultimately breaching the day’s low. Initially, the currency pair found support in the early Asian session within a swing area between 0.9117 and 0.91264. The subsequent upward movement surpassed the 100-hour moving average (blue line in the chart above) at 0.91691

The GBPUSD experienced a decline as the dollar strengthened during the London fix, with the lowest price reaching 1.23437. This level aligns with the lower boundary of a swing area between 1.2343 and 1.23603. Subsequently, the GBPUSD rebounded from this support level, now trading at 1.2365. The support holding at 1.2343 to 1.23603 indicates its

Did you spot the triple top in gold ‘s price, along with its struggle to break past the 2000 mark? If a high-reward, low-probability trading opportunity piques your interest, this gold price forecast could be right up your alley. Just remember, always trade at your own risk! Gold technical analysis: Anticipating a short trade soon

Today is quarter end. The USD is ending the quarter mixed with declines vs the EUR , GBP , CHF and CAD and gains vs the JPY, AUD and NZD. Below is a technical summary of the major pairs in what was an up and down quarter for all of the pairs. I also outline

The major U.S. stock indices are reaching new session highs, with each index on a three-day winning streak. The NASDAQ is leading the pack with an solid 1% gain. Here is a snapshot of the current market performance: Dow Jones Industrial Average: Up 228 points, or 0.70%, at 33,087.50 S&P 500 Index: Up 32.30 points,

On the daily GBPUSD chart below, we can see that the price has finally reached the top of the range at the 1.24 handle. This will be a key level for both buyers and sellers. The buyers will need to break above the level with conviction to keep the rally going. The sellers are likely

The USDCAD is approaching the 100 day MA at 1.35142. The low price just reached 1.3519. The 100 day MA closed below the 100 day MA last on February 20. Often traders will lean against the 100 day MA on the first test (after a while). The low prices today have seen that so far

On the daily chart below for XTIUSD, we can see that after breaking out of the 3 month-long range, the sellers piled in aggressively dragging the price to the $64 price zone. This is where we got a bounce. The current rally may be due to the easing in fears around the banking sector and

On the daily chart below, we can see that the USDCHF sellers leaned on the red long period moving average as the price pulled back due to the Credit Suisse crisis. As things calmed down and the bank was acquired by UBS, the CHF strengthened again as the US Dollar remained weak due to the

On the daily chart below, we can see that after the big and fast rally caused by the Silicon Valley Bank collapse and the fall in real yields, gold has entered a consolidation near the previous top. We can also notice that the price is diverging with the MACD, which is generally a signal of

On the daily chart below for USDCAD, we can see that after reaching the top at 1.3862, the market fell as the failure of the Silicon Valley Bank and the fears around the banking sector made the market to reprice lower future interest rates expectations dragging the US Dollar down with it. The market then

On the daily chart below for AUDUSD, we can see that after breaking above the downward trendline, the buyers started to have the upper hand and even managed to breach the 0.67 resistance. The moving averages are on the verge of crossing upwards, which would be a bad omen for the sellers. We can see

The major US stock indices are closing mixed on the day. The Dow and the S&P are closing higher. The Nasdaq fell. Higher interest rates took some of the wind out of some of the high tech mega cap stocks which become a “safe haven” through the banking crisis. Energy, financials and industrials led the

Bitcoin has gone up 86% since November 2022. Why would traders take (at least partial) profit? Traders who have been profitable over a protracted rise, such as early Bitcoin buyers before an extended rally, may choose to sell or exit at least part of their position at a price deemed a “junction” in terms of

The last week was full of so many events and releases that it is hard to figure where to start. So as Julie Andrews sang in the Sound of Music, you start at the very beginning. In this video, I talk to the week that was that had the Fed, and the market seemingly at