Technical Analysis

EURUSD digs further into the swing area target The EURUSD is trading to a new session high and in the process is digging more into a key swing area on the daily chart (see video earlier outlining the area). That area comes between 1.03395 and 1.03657. The high price just reached 1.03531. Also on the

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

AUDUSD runs away from the 100 hour MA 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

USDCHF rebounds toward 200 hour MA 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

S&P trades to the highest level since May 5, but backs off The major US stock indices have given up some of their gains. The major indices are still higher on the day but the bullish froth has lessoned. The US dollar is also reacting with a move off low levels. Looking at the S&P

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

GBPUSD bounces to recent lows The GBPUSD moved lower on the much better US jobs report. The price moved below the 50% retracement of the move up from the July 14 low at 1.20261. The price also dipped below another swing target near 1.2006, but could not move below the natural support at 1.2000 level.

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 EURJPY moved higher on the USDJPY run to the upside today. The JPY is the weakest of the major currencies, and that has helped to propel this pair higher as well (lower JPY). EURJPY runs higher as the JPY declines Technically, the pair was able to extend above its 200 hour moving average for

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%

The US 10 year yield is moving to a new high at 2.869%. The current yield is at 2.853% as I type. 10 year yield 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

USDJPY trades between 200 and 100 hour MA today 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

The strongest to weakest of the major currencies The NZD is the strongest and the GBP is the weakest as the North American session begins. The USD is mixed with modest gains and losses verse the EUR, JPY, CHF and CAD, and a bigger gain vs the GBP and bigger declines vs the AUD and

EURGBP test its 100 hour moving average The EURGBP has seen up and down price action today within a fairly narrow trading range. The low price stalled near the lows from last Wednesday and again yesterday between 0.8339 at 0.8345. At the high, the price has stalled against its falling 100 hour moving average at

S&P index extending above its 50% midpoint 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

EURJPY moved below the 200 day moving average and failed The EURJPY moved to the lowest level since May 13. The move also took the price below its 200 day moving average for the 1st time since March 16. The price entered into a swing area between 132.70 and 133.47, but could not sustain downside

NASDAQ trades above the 100 day moving average The NASDAQ index is back in positive territory after moving lower earlier in the session. The low price reached 12260.48. The high price has extended to 12418.43. The current prices trading at 12389.50 up 20.67 points or 0.17%. The last 3 trading days has seen the NASDAQ

The price of WTI crude oil futures are settling at $93.89. That’s down -$4.73 or 4.8%. The low price reached $92.42. The high price extended to $98.65. The low reached the lowest level since July 15. The July low on the 14th came in at $90.56. Technically, the price closed below its 200 day moving