Technical Analysis

The EURJPY has been up 5 of the last 6 trading days since bottoming on January 3rd at 137.377. That is a rise of 544 pips. The high price reached 142.85. That sniffed the 100 day MA at 143.026. The price high today also tested the December 28 high at 142.926. Getting above both of

Like other currency pairs today (see EURUSD post here), the USDJPY is stuck in a the wash cycle today where the price action is getting mixed. Looking at the hourly chart, the low reached in the Asian -Pacific session found support buyers near the lows from yesterday and within a swing area between 131.297 and

The major US stock indices are picking up some steam to the upside. The major indices are near their highs on the day. A snapshot of the market currently shows: Dow Industrial Average up 128 points or 0.3% at 33645.52 S&P index of 21.96 points or 0.56% 3914 NASDAQ index up 90.78 points or 0.85%

The EURUSD extended to the highest level going back to June 9th today (see earlier post on the pair by clicking here). In the process, the December high at 1.0735 was broken . The 61.8% of the 2022 trading range was also broken at 1.07468 with the price moving to a high of 1.07601. The

The USDCHF has continued its run to the downside today, and in the process has moved below a swing area on the daily chart between 0.9194 and 0.9211. The pair is trading at the lowest level since March 2022. Looking at the daily chart above, the next target would be the swing low going back

It’s jobs Friday. Both the US and Canada employment reports will be released at 8:30 AM ET. In the US the expectations are for nonfarm payroll to rise by 200K. The unemployment rate is expected to remain steady at 3.7%. Average hourly earnings are expected to rise by 0.4% versus 0.6% last month and by

The USD moved higher in anticipation of the US jobs report. That report showed wages were less of a concern with an increase of 0.3% versus 0.4% MoM. Moreover the prior month was revised lower from 0.6% to 0.4%. Good news. The not so good news for a rate perspective is the unemployment rate ticked

The GBPUSD has moved back to the upside helped by a much weaker ISM nonmanufacturing index. The move higher has taken the price of the GBPUSD, through the 38.2% and the earlier session high at 1.19346. The run to the upside has also seen the 100 hour MA tested and now broken at 1.19914. There

The USDCHF opened the week below the 100 hour MA (blue line in the chart above). On Tuesday, the price soared higher reaching the 50% of the move down from the November 21 high. That level comes in at 0.93988. On Wednesday, the price tumbled back down and in the process moved briefly back below

The US major indices are closing higher on the day and for the week. All the major indices are closing with gains over 2% on the day. For the week the gains are from around 1% to 1.5% for the major indices. The final numbers are showing: Dow industrial average rose 700.53 points o 2.13%

The USDJPY has resumed its downward momentum following the much weaker than expected ISM nonmanufacturing Index which tumbled to 49.6 from 56.5 last month. The expectations was for 55.0. Employment, and new orders both moved below the 50 level. Prices paid decreased to 67.6 from 70.0. Looking at the hourly chart of the USDJPY, the

Yesterday, the USDCAD moved sharply lower despite the fact that oil prices were tumbling to the downside. Below is the post on the pair. Here is the link: https://www.forexlive.com/technical-analysis/oil-is-down-350-but-usdcad-is-lower-by-134-20230104/ Maybe the move to the downside (higher CAD ) was off the AUD strength. Remember it moved higher on the fundamental story that China would look

The momentum to the upside in the USDJPY has continued. Technically, the price raced above the 38.2% after the better ADP/initial claims data at 132.81. The price also moved above the 50% of the 2022 trading range for the pair on the daily chart below at 132.70. That midpoint was tested yesterday and stalled the

The AUDJPY is having its best up day going back to June 2016. The pair has soared 2.85% (it did reach over 3.06% at the highs) on the day. Back in June of 2016, the pair had its largest most recent up day of 3.78%. The gains today were helped by news that China would

Riddle me this… Why is the CAD higher if the price of oil is down sharply? The CAD usually moves lower (USDCAD higher) with lower oil. Now that may not always be the case of course, but with oil a prize commodity, the Pavlovian reaction from traders is oil down, CAD down (USDCAD up). The

Tesla was always something of a bubble and had a long list of detractors when its valuation reached stratospheric levels. At the same time, Elon Musk’s online persona has become a liability to the company, changing the investment thesis. None of those things apply to Apple. Yes, there are the usual concerns about iPhone demand

the water some tour there are two of the third concussion you It’s a new month. It’s a new year, but the markets are still sloppy. From yields to stocks to forex, the price action is acting like it is still wobbly from a New Years hangover. The US stocks opened higher and are now

Technical analysis of Bitcoin evaluates the crypto king by assessing previous prices and volume. Technical analysts don’t analyze a security’s inherent worth, but instead utilize charts and other tools to uncover trends. Technical analysis also uses patterns to predict future price changes. These patterns may be bullish, bearish, or neutral, indicating a price increase, decrease,