Technical Analysis

A day ago, the EURGBP was ping ponging between the 100 day MA above (near 0.8468), and the 200 day and 100 hour MA below near 0.8438. In the afternoon session, the pair cracked below the lower extreme reaching a low of 0.84176 on the follow through selling. The pair bottomed and returned back to

The EURUSD continues to leak oil and wander to the downside. The pair is trading at its lowest level in the US session. Stocks are trading to new session lows. The S&P is moving back toward unchanged. The NASDAQ index is down -53 points at -0.42% at 12800.99. Yields are also higher with the 30

The EURUSD rallied strongly after the tamer CPI data, and ran up to a key resistance swing area between 1.03395 and 1.03657. The high price reached 1.0367 and backed off. The move to the downside has now moved down to retest a key break level from this morning. That break was the high price from

The NASDAQ index traded above the Monday high of 12855.15. The high price just reached 12860.30 but has backed off to 12847 currently. The index is still up 353.63 points or 2.83% on the day. The next target area on further upside momentum comes in at 13086 to 13199. The 50% of the move down

It took a while, but the USDCAD is making a break for it to the upside. The pair tested the 100 hour MA in the Asian and London morning session. Then tried to move higher in the NA session. The first few tries saw some up and down apprehension. The last two hourly bars have

The USD is seeing a tick to the upside as the NY session moves toward the close. Tomorrow the traders will be dealing with the CPI data at 8:30 AM where the MoM is expected to rise by 0.2% and the YoY to dip to 8.7% from 9.1%. The Core however, is expected to rise

The US 10 year yield moved up to test the 100 day MA on Wednesday and again on Friday last week (blue line in the chart above). Today the high yield of 2.851% also sniffed the MA level at 2.862%. Staying below the moving average keeps the lid on the rates. It would take a

In the morning video report, the USDCHF was trading between the 100 and 200 hour MAs (blue and green lines – see VIDEO here). The USD moved lower and so did the USDCHF. That took the price below the lower 200 hour MA and that momentum fell below a swing area near 0.9533 to 0.9537.

Technical Analysis ETH Technical Analysis Yesterday we had an idea to short bitcoin. But relative strengh from Bitcoin sheds a new bullish light. ForexLive Sunday, 07/08/2022 | 22:10 GMT-0 07/08/2022 | 22:10 GMT-0 In the past 24 hours, we had a trade idea to short bitcoin. But we are aborting. Why is the trading plan

ANZ’s revisions to their oil demand forecasts were issued late last week. A snippet of commentary, firstly on the demand side: Crude oil recorded its biggest weekly decline since early April amid rising concerns of weaker demand. Demand indicators have largely held up, with global air travel improving as international borders are reopened. However, there

The US jobs report on Friday helped to initially move the dollar higher, stocks lower and yields higher. However, by the close, the dollar had come off high levels, stocks took back declines. Yields did stay elevated. What about the expectations going forward? What might the Fed officials reaction be to 528K new jobs? What

BTCUSD had a nice rally above 3% yesterday but volume is not strong and bitcoin can easily test the 20k mark or close to it. We aim for a short position with a ‘take profit’ target that is in line with testing an important VWAP, and is much higher than that 20 thousand dollar key

The US 10 year yield is moving to a new high at 2.869%. The current yield is at 2.853% as I type. That high has taken the yield to a new high for the week surpassing the 2.849% level reached on Wednesday. The high yield reached 2.869%. The current yield is trading at 2.853%. The

USD/JPY longs have been the trade-of-the-year in the FX market in 2022 and today’s strong jobs numbers make it more likely the trend isn’t over yet. The pair is up a whopping 220 pips today to 135.06. The gain wipes out much of a brutal four-day drop in the pair. Technically, it cracks the 61.8%

I wrote some strange data that’s weighing heavily on the oil market today and ZeroHedge picked it up. Big thanks to them and hopefully it gets us closer to an answer on where real gasoline demand is. In any case, the market certainly isn’t convinced that the data is bad because crude was down another

The USDJPY moved back above the 100 hour MA yesterday in the early European session (for the 2nd time on the day). A corrective move lower retested that MA line and pushed toward the 200 hour MA in the US afternoon session. After a dip today in the Asian session, the pair moved back higher

Both the NASDAQ index and the S&P index are trading above their 100 day moving averages, and both are up testing/moving above their 50% midpoint’s of the move down from the March high to the June low. Looking at the S&P index the 50% midpoint comes in at 4137.09. The current price is trading at

The EURUSD moved lower in the US morning session and in the process tested a lower swing area between 1.01148 and 1.0121. The low morning session reached 1.0122. The inability to extend lower, has seen some profit taking buying as the pair remains stuck in the range that has confined the pair between 1.0096 and