Technical Analysis

The EURUSD has a 148 pip trading range now. That is well above the 22 day average of 80 pips (about a month of trading). Technically, the price cracked below both the 200 hour MA and trend line support at 1.0613 soon after the Fed Chair prepared remarks. There was a corrective move higher that

All the major currencies are making new lows vs the USD. EURUSD: The EURUSD traded to a new low of 1.0573. That takes the price below a swing area between 1.0576 and 1.0585. The 1.0585 level was the low price from last Friday. Can the price now stay below that level? USDJPY: The USDJPY moved

The US stocks opened higher, went even higher, but then gave up all/most of the gains into the close. The S&P and Dow did close higher for the 3rd day in a row. The Nasdaq 2-day win streak was snapped. The final numbers are showing: Dow Industrial Average was 40.45 points or 0.12% at 33431.43

The US 10 year yield continued the run to the downside earlier today, bottoming at3.897%. That was near other recent lows up to 3.90% (see green numbered circles). Traders leaning against that yield’s floor level stalled the fall, and the yield has since moved back above the broken 200 hour MA at 3.955% to a

A threat to your trading is to not being simple enough. We are all tempted to think that the more we know, the more we learn and apply will lead to more and more success. In some things in life, that works, but there is also the law of diminishing returns which can not only

The NZDUSD low this week was on Monday at 0.61299. That represents the low cycle extreme (lowest since November, 2022). The high this week was on Wednesday at 0.62748. The midpoint is at 0.6203. The current price is just above that at 0.6206 just above the midpoint level. Technically, on Friday of last wee, the

The price of WTI crude futures is settling at $71.68 That is up $1.52 or 1.94%. The high for the day reached $79.73. The low reached down to $75.83. The price action today was influenced by a report earlier in the day that the UAE was contemplating leaving OPEC. That sent the price sharply lower.

An effective bitcoin trading method based on volume profile (AKA market profile) Combining volume profile with technical analysis may be an effective trading approach, especially for Bitcoin . When we examine the daily time frame over the span of around 260 days starting in June 2022, please observe that the BTCUSD price rejection at 25,770

The USDCHF has extended to a new session low and in the process is dipping below the rising 200 hour moving average at 0.93619. The low-priced has just reached 0.93584. The last time the USDCHF price traded below its 200 day moving average was back on February 21 when the 200 hour moving average was

Stocks are looking good (jinx). Just when you thought the major indices were setting up for a tumble lower, a regional Fed president (Bostic) comes in and says something less hawkish than the rest (Waller, Mester, Kashkari), and its risk-on all the sudden. Technically, the major indices have also dug themselves out of bearish holes.

The major US stock indices are closing higher on the day. Both the S&P and NASDAQ index averted closing below a key 200 day moving average. The NASDAQ index already closed below the 200 day moving average yesterday. However the rise higher today push the index back above that bullish/bearish barometer. A look at the

In an earlier post, I spoke to the bounce higher in the EURUSD . The price moved above its 100 hour moving average . However to be really convincing from a technical perspective, getting above the 200 hour moving average at 1.06181 was required. As it played out, the swing low going back to February

The S&P index and NASDAQ index are both closing lower in the day. It’s the second consecutive day to the downside for each of those broader indices. The Dow Industrial Average squeaked out a small gain on the day. The S&P index tested its 200 day moving average at 3940.31. The low price reached 3939.05

The USDCHF is trading near the days midrange after finding sellers near what is the 4 day high and then finding buyers near the 4-day low. Looking at the hourly chart, the high price from Monday’s trade reached 0.94284. The high price today extended to 0.94278 just below that high in the early Asian session.

Bears have the ball for S&P 500 emini futures: A technical analysis for the last day of February 2023 The S&P 500 Mini Futures experienced a potential bull flag at a price junction, but unfortunately, it did not break out. Instead, it broke down and got rejected in a bearish close for the day. The

The EURJPY has come tumbling down and erased all the gains – and then some – as London/European traders closed the books on the month of February. Looking at the hourly chart above the pair raced higher in the late Asian/ early European session helped initially by the USDJPY moving higher. Shortly thereafter, the EURUSD

On the daily chart below, we can see that the resistance at the 12274 level held as the strong NFP report sent the market lower. Buyers had a hard time in February as pretty much all economic data beat expectations and made the market to revise higher future interest rates expectations and price out interest

On the daily chart below, we can see that the range between the 33538 support and the 34477 resistance got finally broken and led to a selloff to the 32684 key support level. The current bias is bearish as economic data in February beat expectations and led the market to price in a higher terminal