Technical Analysis

The GBPUSD moved to a new session low as London/European traders look to exit. The price extended to a low of 1.17911, below the natural support at 1.1800 and a swing area going back to mid July between 1.1802 and 1.1807. The price has rebounded back above those levels and currently trades at 1.1813. Watch

The USDCHF has moved up on each of the trading day’s this week. That move took the price from a London low at 0.9400 to the high today at 0.95968 for a low to high range of 197 pips or 2.08%. Looking at the daily chart, the USDCHF has seen a number of trending up

The NASDAQ index is making a new low for the day at 12682.72. Sellers took the price away from its 100 hour moving average 12765.99 today and have been able to stay below over the 5 hours. Stay below that 100 hour moving average keeps the bears in control. The last break below the 100

The price of crude oil shot higher as Europe was heading into their close. The price rise moved above the 200 hour MA and a topside trend line. The 38.2% of the move down from the July 29th high was tested near the $91.87. The high price reached $92.08 before rotating back to the downside.

As the North America session begins, the CHF and USD are running neck and neck with each other for the strongest of the major currencies. The CHF is the weakest (with the JPY following behind). There are lots of different stories driving the summer trading today. Energy and growth remains a concern. Although the Rhine

The USDCHF is mired in a narrow 51 pip trading range today. The average of the last 22 days of trading (around a month) is 79 pips. There is room to roam on a “shove” through one of the extremes. . Technically, the low price today held near a swing low price from yesterday afternoon

The AUD is the strongest and the CHF is the weakest as the North American session begins. The weekly initial jobless claims, Philly Fed Manufacturing index (remember Empire Manufacturing plunged to -31.3 on Tuesday vs 11.1 the previous week), and Canada producer prices will be released at the bottom of the hour. Existing home sales

The S&P fell for the 1st time in 3 days. The Dow snapped a 5 day win streak. The Nasdaq is down for the 2nd consecutive day. Both the S&P and and NASDAQ are lower for the week. A decline this week will be the 1st after 4 straight weeks of gains. Yesterday the S&P

As the North American session begins the USD is the strongest of the majors, the AUD and the NZD are the weakest. The NZD is lower despite a 50 basis point hike by the week Reserve Bank of New Zealand. The high took the rate to 3.0% from 2.5%. The pre-pandemic rate was at 1.00%.

The major US indices are closing with mixed results. The Dow industrial average was the biggest winner with a gain of 0.71%. The NASDAQ index fell and the S&P index rose by equal 0.19% amounts. Home Depot and Walmart announced earnings before the opening and they both rose sharply. Home Depot is closing up $12.95

As the North American session begins, the USD is the strongest and JPY the is the weakest. Energy remains a big worry and problem in Europe. Drought and the Ukraine war continue to push energy costs higher there. The Rhine River moving to critical threshold levels for ships is preventing barges of coal and other

The major stock indices are closing higher on the day with the Nasdaq leading the way. The major indices are off to a positive start for the week after 4 straight weeks of gains 9 or 11 sectors in the S&P moved higher with Energy (-1.9%) and materials (-0.1%) the only sectors to decline. Crude

As the North American session begins, the JPY and the USD are the strongest of the major currencies and teh NZD and the AUD are the weakest. Risk off sentiment is force as the markets react to CHina slowdown last month. A string of data over the weekend (retail sales, industrial production, house prices) came

The USDCAD has to a new session high and in the process is retesting its broken at 100 day moving average near 1.27968. The high price just reached 1.27986, just above the moving average level Recall on Wednesday, the price fell below that moving average and stayed below since that break. However the lows for

The EURUSD is trading to a new session low at 1.02515. That takes the price further away from the broken 100 hour moving average 1.02622. The price is also falling below a swing area between 1.0254 and 1.0257. Earlier today, the price fell back below the swing hi from August 2 at 1.02934, and the

Today’s daily candle, while closing only in apx 4 hours, is now showing a sign that bulls are failing to break the presented channel to the upside, following this 4th attempt to do so, on the daily timeframe. Even if we had a coin flip (50% chance to win, 50% chance to lose) for this

The EURGBP used the 100 day MA as a ceiling on Wednesday and Thursday. On the downside, the 200 day MA and 100 hour MA was broken on Wednesday and tried to stay below into trading yesterday. However, after breaking back above, resistance became support again. The price moved up to test the 100 day

The USDJPY continued it’s move higher today after reaching a low of 132.419 yesterday. That move took the price below a swing area between 132.24 and 132.479. However, when the price move back above the swing area during the US session yesterday, sellers turned buyers and that momentum has continued into today. In the morning