Technical Analysis

Following the Inflation report, the stock market dipped down, continuing its downward streak from earlier this week Those that followed yesterday’s technical analysis for the Nasdaq, we noted our bias that price would decline to test lower key levels, and so it did. Following that decline, buyers stepped in and took the price of all

AUDUSD holding the 0.6762 but has 200H MA above to breach The AUDUSD has not been spared from the downside seen in the forex market today. Just prior to the CPI report, the pair moved up to test its 200 hour moving average (green line in the chart above). The subsequent tumble to the downside

EURGBP retested the 0.8432 level for the 3rd straight low The EURGBP reached to the lowest level since May 18 and May 23rd lows which came in at at 0.8432. The low price today reached the same level. The low today did also see the price move below the 100 and 200 day MAs at

The RBNZ is expected to raise rates by 50 basis points to 2.5% from 2.0% at 10 PM ET today (Wednesday in New Zealand). The hike will be the 6th in a row which has seen the rate move up from 0.25% to 2.5%. The last 2 hikes have been 50 basis points. The first

EURUSD trades to a new session low The  EURUSD  is trading to a new session low and in the process is getting closer to the parity level at 1.000. The low price just reached 1.00345. Looking at the 5 minute chart, the price correction off the earlier New York session low at 1.0051 saw the

USDCAD backs off toward intraday support The USDCAD raced higher with the USD buying earlier today, but has rotated back to the downside in the North American morning session. The Bank of Canada will meet on Wednesday and are expected to raise rates by 50 basis points to 2.0% from 1.5%. On Friday, the Canadian

This is a follow-up to yesterday’s Bitcoin technical analysis and trade idea to short BTCUSD at $21300 A trader taking that ForexLive.com trading idea would be very profitable now. Taking into consideration the leverage in crypto trading, which is typically between 5:1 to 20:1 — as such, the trader would be now with a 20%

EURUSD falls but is rebounding The  EURUSD  moved lower in the Asian/early European session and in doing so, extended to a new session low new low going back to December 2002. The day’s low reached 1.00705 before rebounding coming into the US jobs report. The high price, on the correction reached 1.0168. That was just

USDJPY trades to new highs for the week The USDJPY is trading to a new high for the week and to the highest level since June 30 after the stronger than expected US jobs report. The pair was trading at 135.80 just before the release and extended to a high of 136.56 after the report.

GBPUSD trades above and below the 100 hour MA The GBPUSD has had a volatile up and down and back up and back down session. The price is still lower on the day and really trades below its 100 hour moving average at 1.19965. Looking at the hourly chart recall from yesterday near the end

AUDUSD falls back below the 200 hour MA level The  AUDUSD  moved up to test the 38.2% of the move down from the June 16 high as the London fix was approaching. However, the price stalled ahead of that level at 0.6878 (the high reached 0.6874) and the price has since moved back below the

The USD is trading lower as London traders look to exit for the day. The greenback is making new lows vs the: EUR CAD AUD, and NZD The  GBPUSD  is moving toward the Asian session high and the USDJPY is moving back toward closing levels from yesterday after trading to the highest level since June

NZDUSD test its 100 hour moving average The NZDUSD has moved higher today, helped by hopes for more Chinese stimulus going forward. The earlier move higher did see the pair extend above the 100 hour MA (blue line), but found sellers near a swing area between 0.61909 to 0.61966. The inability to extend higher has

NASDAQ index back above its 200 hour moving average The NASDAQ index is trading to a new session high. The price just reached 11591.13. The current price is just below that at 11584.67 up 222.84 points or 1.96%. Technically, the price has also moved back above its 200 hour moving average (green line in the

For today (05 July, 2022), this technical analysis applies ONLY IF AND WHEN Dow Jones crosses up 30650 after the market open. It can also apply for swing traders that would like to consider a Long, but only if and after Dow Jones futures (YM) closes a 4 hour candle above 30650 Credit Suisse slashed

Following our tecnical analysis yesterday, the S&P Futures (ES), despite selling hard on the first half of yesterday, is continuing to show reslience and we maintain our bullish bias Today’s video analysis of the S&P Futures shows that it is still creating higher lows and reclaiming higher price levels on the volume profile of the

The Russell sold off in the first half of the day, all the way to the Value Area Low (lower blue line in the video) of the volume profile for the price range Following, RTY staged a V shaped recovery (4 hour candles), reclaiming a relevant price channel Some trade ideas are suggested but as

USD/CAD is at the highs of the day, up 175 pips to 1.3034. That puts the pair within striking distance of the closing high for the year, which was at 1.3037 and set on June 17. That day they pair also set the intraday high at 1.3079. The loonie is the second-best performing G10 currency