Technical Analysis

Forex Trading Strategies for the USD/ILS Pair: Tips and Analysis If you trade foreign exchange, you’re probably constantly on the lookout for possibilities to make a profit from your trades. In this post, we will walk you through the process of doing a technical analysis of the currency pair USD/ILS, as well as provide some

What exactly is meant by the term “technical analysis,” and how exactly does it have an impact on Meta Stock? Let’s begin by defining “technical analysis” and discussing how it relates to this discussion before moving on to particular methods for assessing and trading Meta sock. Technical analysis is the process of forecasting future price

The EURUSD moved above a channel trend line in the Asian session – helped by sideways and modest corrective price action. However, the break was short-lived, and the topside trendline started to see sellers leaning against it as the price wandered lower. That wander, transitioned to a run after the higher-than-expected core PCE data in

The USDJPY is testing the earlier high for the day at 136.46. Looking at the hourly chart, the pair spiked higher after the Core PCE, but then quickly rotated to the downside. That move tested the swing highs from last Friday and Tuesday before restarting the run higher. The move took the price through a

The USDCHF is stretching to the January and 2023 high at 0.94069. The price just reached 0.94058. There is some symmetry in the daily chart for the year. The move to the downside from the high took 19 days. The move back to the upside in February is on day 16. Looking at the chart,

The major US stock indices are seeing a bounce higher. The comments from that Bullard were less hawkish. As Adam points out if there’s a Fed official who would push towards 6%, it would be Bullard. However, he is not. Also helping is that the S&P index failed to correct below its 200 day moving

In an earlier post on the AUDUSD (and in the video for the day), I spoke to the breaking of the 200 day MA and the next target at the 38.2% at 0.67798. Unfortunately for the sellers, the 38.2% stalled the fall. The low reached 0.67808 just 1 PIP above the 38.2%% retracement target. The

The USDJPY on Tuesday, move above the high from Friday. The high on Friday reached 135.11. The price on Tuesday moved to 135.22, but could not sustain momentum and the price rotated back to the downside. That move lower, bottomed yesterday near the 100 hour MA (blue line) and the price rotated back to the

The major US stocks indices are closing the day mixed (the Nasdaq closed modestly higher) The S&P is down for the 4th consecutive day and is closing below the 4000 level. The Nasdaq snapped a 3 day decline The Dow was the worst performer with a decline of -0.25% The final numbers are showing: Dow

The AUDUSD has reached a new session low of 0.68104. That barely took out the early European session low of 0.68106. The low from last week reached 0.6811. The hold up at the low is the 200 day moving average which currently comes in at 0.68038. Dip buyers are leaning against the key moving average

With US growth seemingly not abating, inflation still a concern, and the US dollar coming off a more than 50% correction adding to potential inflationary forces, does the US dollar have to continue the move back higher to get things back in balance? It makes sense and indeed the dollar has been stepping higher. Looking

The major US stock indices are sliding to a new session lows: Dow Industrial Average is down -482 points or -1.43% at 33338.52 S&P index is down -56.4 points or -1.38% at 4022.70 NASDAQ index is down -202.22 points or -1.72% at 11584.50 Looking at the S&P index, it fell below its 200 hour moving

The RBNZ will be meeting and announcing their rate decision on Wednesday in New Zealand (8 PM ET/0100 GMT). The expectations are mixed (from 0 bps to 50 bps) as the RBNZ ponders putting off an expected hike after the devastating cyclone last week. Eamonn posted that KiwiBank has weighed-in saying the expected hike of

The AUD is the strongest of the major currencies today, and the move to the upside in the AUDUSD is now approaching a key resistance target defined by both the 50% midpoint of the move down from last week high (at 0.70287), to last week’s low (at 0.68117). That retracement level comes in at 0.6920.

In my last post on the EURUSD, I said: “Looking at the hourly chart, the price bounce moved back above the swing low from Monday, Wednesday and yesterday and the swing low from last week. That area comes between 1.0653 and 1.0668. The price is back in that swing area. Can the 1.0653 level now

The AUDUSD bounced near the 200 day MA earlier today. The low reached 0.68117. The 200 day moving average was 0.68054. So the price got within six – seven pips of the key moving average target. Close enough for risk focused buyers. The price of the AUDUSD has seen steady buying in the US session

The price of WTI crude futures is settling at $76.34. That’s down $2.15 or -2.74%. The low price reached $75.32. High price was at $70.50. For the trading week the price is down about -3.9%. At the week high of $80.60, the price was up $0.90 versus the close from last Friday. At the week

The EURUSD has continued the grind higher and has now reached the 100 hour MA at 1.0699 target (see earlier post). The high price just reached 1.06977 – just a pip or so short of that target. You can expect some profit taking into the weekend in this area. The 200 hour MA is up