Technical Analysis

The AUDUSD moved to the lowest level since June 21, 2020 last week, and in the process broke below swing lows from September 2020, October 2020, November 2020, November 2021, December 2021 and the January 2022 between 0.6966 and 0.7005 (see red numbered circles in the chart above). The breaking of that floor area (see

The  GBPUSD  is getting a boost to new highs helped by comments from BOE Bailey that  inflation  is the central banks biggest challenge, and rising food price were also a major worry. The BOE warned that inflation may rise to 10% later this year. Looking at the hourly chart, the price has now moved above

The EURUSD is moving higher helped by GBPUSDs run to new highs (now above its 200 hour MA) and overall dollar selling. Yields are lower helping to push the greenback lower. Gold is higher by $14.50 now helping the dollar selling (or is dollar selling pushing gold higher?). The USD is at session lows vs

The  AUDUSD  this week fell below the 2022 low at 0.6966. The price also fell below the 2021 low at 0.6992. Those breaks of those key levels on the weekly chart above, led to a run down toward another swing area between 0.6809 and 0.6832.. That area will now be eyed as a key  resistance

The US stocks are trading higher and to new session highs for the major indices as European traders exit for the day. Dow industrial average is up 527 points or 1.66% at 32257 S&P index is up 107 points or 2.72% at 4038 NASDAQ index is up 482 points or 4.25% at 11853.29 Russell 2000

The GBPUSD is trading to a new session high and in the process has reached its 32.8% retracement of the week’s trading range. The high price came on Monday at 1.24052. The low price was today after the pair broke below the low from yesterday at 1.2165. The low price today reached 1.21543. That low

WTI crude futures are up for the 3rd straight week after squeezing above the closing level from last week at $109.72. Today the price settled at $110.49. That is up $4.36 or 4.11% on the day. For the week the prices up $0.77 after dipping as low as $98.20 and trading as high as $110.64.

The price of  silver  has been on a sharp move to the downside. Since it’s last peak at $26.21, the price has been down 16 of the last 18 trading days. Today, the price made a new cycle low but has seen a rebound and trades higher on the day. The low price today reached

The  USDCHF  is on track for the 6th straight week of solid gains as the week comes to close. Since the last bottom when the USDCHF bottomed at 0.91942 during the week of March 27, the prices has moved up 853 pips to the high reached yesterday and today near 1.00486. In extending higher, the

The AUDUSD tumbled lower today and in the process has moved down toward a key swing area between 0.6809 and 0.6832 (see red numbered circles on the daily chart above). The low for the day reached 0.6824 before bouncing. Risk focused traders have put a toe in the water. The price is currently at 0.6847

The JPY is the runaway strongest of the major currencies. The EUR is the weakest. That makes the EURJPY the biggest currency pair mover. Currently the price is down -2.54% at 133.14 the low price reached 132.67. The high price was at 136.64. Looking at the daily chart above, the sharp move to the downside,

The USDCAD moved lower into the NY open, but the price rebounded higher after the higher CPI data. However, the high price of the  USDCAD  stalled near earlier swing highs from yesterday and a late day swing high as well near 1.3038. Of note is those highs bookended a move up to 1.30515. That break

The  USDCHF  has been moving up sharply higher since bottoming on March 31 at 0.9194. The price is up 24 of last 28 trading days. Day 29 today is down after reaching a new cycle high yesterday at 0.99743. The move higher has seen the price move up some 780 pips over that time period.

Yesterday the 10 year yield reached a high yield of 3.203% yesterday before starting a rotation back to the downside. The high yield going back to 2018 came in at 3.25% (see red numbered circles in the chart above). The high yield got within 5 basis points of that level before rotating back to the

The  AUDUSD  bounced higher last week (see daily chart above) taking the price up to retest the 100 day MA (blue line in the chart above) currently at 0.72557. The high price reached 0.7264 on Wednesday and 0.7265 on Thursday (just above that MA) before starting its run back to the downside. The price in

It’s a brutal backdrop in markets with stocks down 5 weeks including nearly 20% drop in the Nasdaq. Yet when you look at a chart like this, it looks like it could get much worse. USD/CAD has been consolidating in the 1.23-1.29 range since August but may be breaking out to the upside today. It

The  GBPUSD  continued its move lower today. The price traded to the lowest level since June 2020 with a new low of 1.2277. That got close to the June 29/June 30 lows between 1.2250 and 1.2256, but early buyers against that next key support target have pushed the price back higher. The current price trades

The  USDJPY  is seeing up and down price action today. Nevertheless, the price is higher (although it’s trading nearer lows for the day). The price has also been able to stay above its 100 hour moving average today at 130.023. The high price reached the highest level since April 29 at 130.80. The low price