Technical Analysis

The  AUDUSD  is trading up and down as traders await the next shove. Looking at the hourly chart above, the consolidation has seen the price trade above and below the 100 hour MA (blue line) currently at 0.70909. The high price today reached 0.7109 in the Asian session, and a low 0.70563 in the early

The GBPUSD is trading to a new session high at 1.2589. That has the price of the pair pushing up toward the high price from yesterday at 1.2598 and the high price from Monday at 1.26002. Moving above those levels would have traders targeting the 50% midpoint of the trend move down started on April

The  USDCAD  has moved below the 100 hour MA at 1.28109. That moving average had a stalled the fall on a number of dips throughout the day. The break tilts the technical bias more to the downside . The high price today – reached near the start of the US/North American session – saw the

The  USDCAD  moved higher earlier in the North American session helped by flows out of the riskier “commodity currencies” and into the USD (on the US stock declines). The pair was also influenced by the break above the 100 hour moving average (blue line in the chart above currently at 1.28142). Earlier today, the USDCAD

The  NZDUSD  is trading marginally lower ahead of the RBNZ decision that will be announced at 10 PM ET. The expectations are for a 50 basis point hike to 2.00%. The hike will be the 5th in a series of hikes that started on October 6, 2021 with a 0.25% hike to 0.50%. They added

The  USDCAD  is lower on the day with the price opening at its high and trading down to its low in the North American session. The last 13 or so hours have seen the price trade up and down with a high near 1.2807 and a low at 1.27659. On the downside, the pair stalled

Earlier in the day, the  EURUSD  moved above the 50% of the range since the April 21 high at 1.06421. The price also moved above the swing high from May 5th at 1.0641 (just a pip off the50% level). There were other swing levels down to 1.0633. The break above 1.0633 to 1.0642 was bullish.

The QQQ ETF is a big cap high tech ETF. The top 10 holdings which account for about 50% of the index is made up of the following big cap tech stocks. Apple and Microsoft account for 23.5%. The only non tech name in the list is PepsiCo (2.03%). Needless to say, it is heavily

The  USDCAD  has moved to a lower low for 6 consecutive days. Today, the low took out the low from yesterday by 7 pips. Yesterday’s low took out Wednesday’s low by 11 pips. Wednesday took out Tuesday’s low by 14 pips. So the moves to new lows has been harder, but have nevertheless been reached.

The S&P index has moved to a new low of 3841.54. In the process it took out the low price from last week at 3858.87. At the low the index was down 20.28% from its 2022 high and all-time high reached on January 4. That takes index into “bear market territory”. Financially speaking a decline

The AUDUSD is mired in an up and down trading day today The initial move was lower. The price move in the Asian session took the price down toward the 100 hour MA (blue line) and found willing buyers against that level. The subsequent move to the upside saw a move up toward the high

The S&P 500 is down 80 points, or 2.1% and today’s close will mark a seventh consecutive week of declines. That’s a rare feat and it doesn’t bode well. I had some optimism yesterday that the Target-rout might mark a tradable bottom and it did to some extent but the inability to rally for more

 Crude oil   futures  settle at $113.23. That’s up $1.02 or 0.91%. That is for the June contract which goes off the board today. The July contract meanwhile is closing up $0.39 at $110.28. Norway today announced that April preliminary oil production fell to 1.66 million barrels per day vs. expectations 1.86 million barrels per day.

The  EURUSD  is moving to a new session high and in the process is extending above a swing area between 1.05922 and 1.05986 (see earlier post outlining the target area). The price is trading at 1.0605 currently. On more upside momentum, the pair would next target the 1.0633 to 1.06421 area. That level corresponds with

The  NASDAQ  index has been trading up an down today. The high price reached 11562.82. The low price extended to 11313.31. Near the midpoint of that range sits the 50% midpoint of the trading range since the post pandemic low. That midpoint comes in at 11449.29. The current prices above that level at 11489, above

The  AUDUSD  is moving down as some risk off flow are kicking in as stocks continue the move lower today. Looking at the weekly chart, the move lower has taken the pair back within the swing area going back to July 2020 between 0.6966 and 0.7005. That area was home to swing lows (and a

The USD is making new session highs vs the EUR, GBP, CAD, AUD and NZD. The JPY and the CHF meanwhile are attracting the most forex flows. USD: The  EURUSD  is back below its 200 hour MA and is also ticking below the low price going back to April 28 at 1.04709. The 100 hour

The NZDUSD is up for the 3rd consecutive day today after bottoming on Thursday last week. The low price reached 0.6216. That took the pair to the lowest level since early June 2020 and below the 61.8% of the move up from the 2020 low. The retracement comes in at 0.62298. The dips below the