Technical Analysis

The  GBPUSD  has seen down, up and now back down price action since the US jobs report. The price initially moved to the downside falling to a low of 1.25197 shortly after release of the jobs report. That took the price below a swing level at 1.2524, but only briefly before bouncing back to the

With the UK still on holiday, the other major European  indices  are closing lower. A look at the closing levels shows: German DAX, -25.10 points or -0.17% at 14460.08 France’s CAC -15.14 points or -0.23% at 6485.31 Spain’s Ibex -19.3 points or -0.22% at 8724.81 Italy’s FTSE MIB -259.84 points or -1.06% at 24166 Looking

The AUDUSD yesterday first tested – and then broke – above its 100 day moving average at 0.72296 (top blue line on the chart above). The momentum took the price up to the 200 day moving average at 0.72561 (top green line) and ultimately above that moving average level by the close. In the Asian

The  NZDUSD  has moved to the upside and in the process is retesting the swing high from Tuesday’s trade and the swing high going back to May 5. Those levels are at 0.6563 up to 0.65677. The move to the upside has been strong. After reaching a low in the late Asian session that stalled

The price of  gold  is up up $23.40 or 1.27% at $1869.35. That takes the price above a swing area between $1863 and $1869. Within that range is also the 38.2% retracement of the move down from the April 18 high at $1866.93. The high price today reached $1870.53 so far, but has backed off

The USDCHF broke above the 200 hour MA on the USDs run higher earlier today. That move broke above its 200 hour moving average near 0.9622 (at the time of the break). It was the 1st move above the moving average since May 18. The price has come back off over the last 5 hours

The  EURUSD  move sharply lower on the back of the run into the USD after stronger data today. The price moved down to and through recent swing lows at 1.06787, 1.0661 and the swing area between 1.0633 to 1.0641. What was not reached was the 38.2% of the move up from the May 13 low

Both the EURUSD and the GBPUSD saw downside corrective trading break below their respective 100 hour moving averages, only to find support buyers against the lower 200 hour moving average. Looking at the EURUSD hourly chart below, the pair peaked yesterday at 1.07857, and could not rotate any higher in trading today. After breaking below

The  AUDUSD  moved higher at the start of the month of May and in the process moved up to retest the 100 and 200 day MAs (blue and green lines on the chart above). The price rise found risk focused sellers against the lower 100 day MA. The next 6 days saw the price move

The  EURUSD  this week found early buyers against its 100 hour moving average on Wednesday, and again yesterday. In trading today, the dip lower after reaching new highs going back to April 25 once again saw the 100 hour moving average stalled the fall. The 100 hour moving average is currently at 1.0700 the low

The UDSJPY has traded down and back up and trades modestly lower vs. the close from yesterday. The current price is trading at 126.94. The price closed at 127.07 yesterday. Looking at the hourly chart above, the high price today reached 127.192. That was just short of the falling 100 hour moving average (blue line

The USDCAD moved lower in the early Asian session and in the process broke below its 50% midpoint of the move up from the April 21 low. That level comes in at 1.27677. The price has stayed below that midpoint level since the break. Stay below the 50% retracement and the sellers remain in firm

The GBPUSD moved up to test the 50% of the move down from the April 21 high yesterday, and broke above that level at 1.2622 early in the Asian session today. The high price also extended above the May 4 high at 1.26373 on its way to a high price for the day of 1.2666.

The RBNZ raise rates by 50 basis points on Wednesday. On that day, the  NZDUSD  moved higher extending above the high from Monday’s trade in the process on its way to 0.65135. However buyers turned back to sellers, the price moved back below a swing area between 0.64908 and 0.6499, and the pair did not

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The USDCHF moved sharply lower on Monday and lower again on Tuesday. Wednesday and Thursday saw choppy action but stayed above the Tuesday low. Today, the price action has been up and down, but the price of the USDCHF did extend to a new week low and also traded at the lowest level since April

The major US  indices  are trading to new session highs. The gains are led by the NASDAQ index which is up by 2.72%. Technically, both the Dow Jones and S&P index have moved above their respective 200 hour moving averages. Looking at the S&P hourly chart above, it’s 200 hour moving average comes in at

The buying in stocks is continuing with the S&P now up over 2.0%. The NASDAQ index is getting closer to up 3% on the day. A snapshot of the market currently shows: Dow industrial average up 537 points or 1.67% at 32657.52 S&P index up 82.48 points or 2.07% at 4061.22 NASDAQ index up 321.81