Technical Analysis

The USDJPY has been trading above and below the 100/200 hour MAs today, with the most recent swing being to the downside. The MAs are converged at 143.29. In the early hours of the New York session, the price extended briefly above that level up to 143.34, but could not sustain any momentum. The price

The price of gold is up around $10 on the day. The current price is trading at $1674.11. The high price reached $1680.41. THe low extended to the lowest level since April 2020 to $1654.28. The rebound has taken the price back into a swing area between $1670.88 and $1688.91. Also in that area is

The USDCHF has chopped higher in trading today. The pair started the day near a swing area at 0.9591 to 0.9606 after breaking back above the 100 hour MA yesterday and closing above. The low in the Asian session stalled the fall in the 0.9591 to 0.9606, moved higher to 0.9652 before rotating back to

The EURUSD is mired in at 62 pip trading range for the day. The high extended to 1.0017. The low reached 0.99551. On the topside, the high stalled ahead of the low of a swing area (see red numbered circles) betweeen 1.00226 and 1.00328. On the downside, the pair stalled ahead of the 0.99515 level.

The Australian jobs report released in the new trading day in Australia (at 9:30 PM ET) showed a 33.5K increase vs estimates of 35K. The unemployment rate ticked up to 3.5% from 3.4% which is still near/at historic low levels. The AUDUSD did move higher soon after the report, but ran into resistance at 0.6771.

The USDCHF has been trading up and down in a consolidating range today. The sideways price action has been able to sideways its way back above the 100 hour MA (blue line) which was catching up to the price action after the sharp fall lower last week. The higher than expected CPI yesterday, pushed the

The GBPUSD moved to a new high as London/European traders headed for the exits, BUT the pair did find willing sellers against the 100 hour MA at 1.15944 (currently). The pair also stayed below a swing area between 1.1598 to 1.16205. I outlined that level in the morning forex video (click on the video below).

The price of Apple was one of the shining big cap tech stocks from the June low. The low reached 129.05 on June 16. By August 17, the price was back up at 176.12. That was just below the end of year level at 177.59. Yes, the price got within $1.43 of the unchanged for

The USD is extending to a new high vs all the major currencies with the exception of the JPY and CHF as London/European traders head for the exits. EURUSD: The EURUSD is falling below its 200 hour moving average at 0.99976 and trading back below the parity level at 0.9993. GBPUSD: The GBPUSD is moving

The morning forex technical analysis, I spoke to the EURUSD support in the 1.0098 to 1.0121 area (see near 2:00 in the video here). That area has indeed held support with a low for the NY session at 1.01036. PS the 200 bar MA on the 4-hour chart also stalled the fall. That level comes

The US auctions today were met with tepid demand. The 3- year auction had a tail of 1.4 bps above the WI level at the time of the auction. The foreign demand was lower than the average. The 10 year auction had a tail of 2.3 bps above the WI level. Once again, the demand

The NZDUSD moved above both its 100 and 200 hour moving averages today (blue and green lines in the chart above). The rise above the 200 hour moving average was the 1st since August 17. The price tested that moving average level on a number of occasions (see the green line in the chart above).

ETHEREUM TECHNICAL ANALYSIS and TRADE IDEA for 11 Sept, 2022 This piece presents a technical analysis of the 11th of September’s trading of ethereum against the US dollar We have a channel that is also a bull flag on the daily time frame. The video’s green arrows point to the lower frequency band, while the

The major US stock indices are up solidly with the NASDAQ leading the way with a 1.51% gain. The S&P index is up 1.08%. Looking at the hourly chart of the S&P index above, it is testing its 100 hour moving average at 4051.68 (blue line in the chart above) and the 38.2% retracement of

The EURUSD raced higher today and in the process moved up to test the old low of a swing area going back to July/August. That area comes in at 1.00958 and 1.0121. Looking at the daily chart the high price today reached 1.01128 and backed off. Going forward if the buyers are to take more

It will be a close call but the Nasdaq is threatening to trace out an outside week on the weekly chart. We tracked lower on Tuesday in the appreviated week as part of a seven-day losing streak but we’ve had three strong days of gains since. That’s nearly traced an outside week. To complete it,

The major European indices are ending the day with solid gains. Italy’s FTSE MIB leads the charge. The German DAX, France’s CAC, and Spain’s Ibex all rose by 1.4% or greater as well. The major indices are also closing higher for the week despite the 75 basis point hike by the ECB. Looking at the

Where is this stock market going next? I look at the S&P 500 emini futures, and state my personal opinion on where the market is going next. I think we are going up. I show where my next junctions are, and at what price I would change my mind. Due to the natural correlations between