Technical Analysis

The USDCHF broke to the upside today extending above the topside swing area between 0.9278 and 0.9290. The break increased the buying momentum with the price extending to a higher 0.93308 before rotating back to the downside. After trying to hold support against the previous high from February at 0.92904, the price broke lower in

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

After barely taking out the low from Monday at 1.06547 earlier today (the low reached 1.06536), the EURUSD started the recovery higher. The price has now erased the declines for the day and is above the close from yesterday at 1.0686. The current price is trading at 1.06945. The next target is at the falling

With a slew of data out today and Fed speakers on the schedule, the EURUSD is in a narrow 43 pips trading range. That compares to 86 pip average over the last month of trading. The price tried to move higher in the European session, but found willing sellers against its 200 hour moving average

The AUDUSD trended lower in trading today and is the weakest of the majors. However, it has found some support in a swing area floor that has formed going back to early January (see red numbered circles). Looking at the hourly chart, that floor comes in between 0.68549 and 0.68706. The low price today reached

The major US stock indices are opening with declines as strong retail sales keeps the Fed on track for more tightening. The good news is the economy remain strong which is good for future growth/earnings. The bad is that growth may be inflationary which could lead to a much tighter Fed, which could sap strength

The price of WTi crude oil is settling at $79.06. That is down -$1.08 or -1.35% on the day. The high for the day reached $79.61. The low extended to $77.46. Looking at the daily chart, the price had moved up 5 of the last 6 trading days before today. That took the price up

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The NZDUSD moved up today and in the process, the price moved up to test the 200 hour MA at 0.6362. The sellers leaned against the level and the price has modestly come off the MA level. In the new trading day, the swing are between 0.6345 and 0.6348 will be targeted on more selling.

The GBPUSD has moved higher in the European session after consolidating through the Asian session. The move to the upside took the price back above its 100 hour moving average (blue line in the chart above). That moving average currently comes in at 1.20785. The high price extended to 1.21147. That was short of the

Technical Analysis Russell 2000 Technical Analysis I look at key price levels for the bulls. Itai Levitan Sunday, 12/02/2023 | 07:35 GMT-0 12/02/2023 | 07:35 GMT-0 This article will give some insights on the technical analysis of the Russell 2000, as well as a deeper look at the important indicators that traders and investors should

USDJPY technical analysis: Looking at the phases of the market cycle using bull and bear channels Bull channels are price trends with higher highs and higher lows. In a bull market, prices bounce off the lower trendline and rise toward the higher trendline. In times of economic development and investor confidence, financial assets are in

The EURUSD is ticking to a new session low taking out the earlier low for the day at 1.06806. The low price just reached 1.06782. It is not running but a new low is being made. Helping the downside today is the break below the the swing area between 1.0711 and 1.0724. The price traded

The AUDUSD is trading in a non-trending up and down trading range as the week moves toward a close. The low for the week was reached on Monday. On that day, the pair moved below a swing area between 0.6909 and 0.6925. The momentum took the pair below another swing area at 0.68706 on it’s

The price of WTI crude oil futures are selling at $79.72. That’s up $1.66 or 2.13% The high price reached $80.33. That was the highest level since January 30. The low price was at $77.47. For the week, crude oil is up $6.94 or 8.49%. Ever since the biggest one we gained going back to

The USDCAD has moved sharply lower after the much stronger-than-expected Canada jobs report. The gain of 150K outpaced the prior month which was revised from an already strong 104K to 112K. And we thought the US jobs market was strong! The USDCAD has moved lower on the report (higher CAD) and fell below the 200

The USDCAD moved above its 100 hour MA in the late US morning, after successfully testing it in the London morning session and falling back to the 200 hour MA (green line). The holding of that 200 hour MA was the go-ahead to push back higher. Breaking the 100 hour MA opened the door for

On the daily chart below, the price is trading in a descending triangle with the support level at 1.3225. Generally, the price can breakout on either side of such chart pattern, so paying attention to the fundamentals will be helpful when looking for a direction. The big move down in the pair from the peak