Technical Analysis

Fundamental Overview Last week, the Fed finally started its easing cycle and decided to do it with a 50 bps cut. The market was already leaning towards a 50 bps move, so it wasn’t a surprise. The larger cut was framed as kind of a risk management move with the dot plot showing two more

The price of crude oil has extended to a gain of two dollars at $72.36. That’s up 2.77% on the day. The low price was at $70.47. J.P. Morgan Chase CEO Jaime DImon overnight reiterated his concerns about the growing risks of global instability, emphasizing that geopolitics remains the most significant threat to the world

The USD is moving lower after the weaker than expected economic data. Richmond had composite index came in at -21 verses -19 last month. The consumer confidence came in at 98.7 versus 105.6 last month and 104.0 estimate. With the election forthcoming, it might not be that surprising that there is weakness in survey’s from

The NZDUSD is following the US dollar lower and in the process has moved up to test the 2024 high price which was reached on the first day of the trading year (January 2, 2024). That high price was at 0.63248. The high price today has reached 0.6325 – a fraction of a PIP above

The USDCAD is also moving lower and following the USD bias. The price is trading at the lowest level since September 6 when the price bottomed at 1.3465. That level was just above the August 30 low price reached at 1.34643 (double bottom). The low price today has reached 1.3474 so far. Buyers looking to

The USDCHF on Friday and again yesterday stalled against the 38.2% retracement of the move down from the mid-August high at 0.85172. The inability to get above that level gave the sellers a go-ahead to push lower. That downside momentum continued through support near 0.8475 where a cluster of moving averages were near converged. Today

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The AUDUSD is moving higher today. The RBA kept rates unchanged: The Reserve Bank of Australia (RBA) was the latest central bank to announce its policy objective when it left its cash rate unchanged at 4.35% in September 2024, as expected. The central bank noted that current policy remains restrictive and is working as anticipated,

The broader US stock indices are getting it ahead of the earnings after the close including Microsoft and Alphabet. The NASDAQ index is leading the way with the decline of -124 points or -0.80% at 15504.51. The S&P index is now down -11 points or -0.22% at 4917.03. The Dow Industrial Average remains higher by

EURUSD below the 200 hour MA. Stay below is more bearish. The EURUSD moved lower in the Asian session (see earlier post here), and entered into a swing area in the London morning session between 0.99258 and 0.9898.The 200 hour MA (green line) was also in that area near the low (at 0.9900). Since then,

USDCAD trades between the 100 /200 bar MA on 4-hour chart The USDCAD moved down last week and in the process stalled near the 38.2% of the move up from the August low at 1.3500. There is a swing area near that level up sto 1.3510. Holding the support area, led to a rally on

The strongest to weakest of the major currencies The EURUSD is the strongest of the major currencies and the JPY is the weakest. The EUR strength comes one day after yields moved lower on a less hawkish 75 bp hike by the ECB led to a wander to the downside in the EURUSD. The price

The forex market seems to be in one of those up and down Fridays. Coming into the weekend – and ahead of the FOMC rate decision next week where the Fed is expected to raise rates by 75 bps – the price action is up and down in some of the pairs. In others –

The median stock price prediction for Apple Inc. is set at $180, provided from 37 analysts who have provided price estimates for the next 12 months The highest Apple stock prediction is $200 and the lowest prediction is $122 Apple stock forecast from ForexLive.com, based on the following technical analysis video, is set at a

The S&P index is trading to a new session high and in the process is testing the high price from Wednesday’s trade up at 3886.15. The high price just reached 3884.51. S&P index tests the high from Wednesday On a move above that level, traders will next target the falling 100 day moving average which

Dow industrial average test its 200 day moving average The Dow industrial average is leading the way today with a 540 point rise or 1.7%. The current prices trading at 32573.46. The high price reached 32661.74. Looking at the daily chart, the high price was able to extend above its 200 day moving average at

The EURUSD is pushing to a new low. The low has reached 0.99633. The 0.99515 is the next downside target for the pair. That level represents the 50% midpoint of the range since the September high. It also is the swing low going back to July 14, and the cycle low at the time on

USDCHF trades between MA support and swing area resistance In a post yesterday (“USDCHF moves down toward lower target area“), I spoke to the USDCHF support being approached near the rising 200 bar moving average on the 4 hour chart, and also a swing area between 0.9848 and 0.9873. The price ended up moving down