Technical Analysis

The GBPUSD tilts to the downside The  GBPUSD  rallied strongly yesterday. The BOE did raise rates by 25 basis points as expected. Weaker US data also contributed to a sharp move to the upside from a fundamental perspective. Technically yesterday, the price stepped above its 100 hour moving average (blue line, then above a ceiling

USDJPY has completed the down and back up “lap” The  USDJPY  moved sharply lower yesterday, helped by a crack below the 200 hour MA (green line), a move below a swing area between 132.97 and 133.35, and a corrective swing low at 132.30. Finally the pair also fell below the 38.2% retracement of the move

USDCHF consolidates near the low after sharp fall The  USDCHF  fell sharply yesterday after the surprise SNB hike of 50 basis points. The pair smashed through a number of technical levels including the 100 hour MA (blue line), 200 hour MA (green line), 50% retracement of the move up from the May 27 low at

USDCAD ticks to a new high for the year The move to the upside for the  USDCAD  has continued today. The price is working on it’s 7th up day in the last 8 days. In the process, the pair has moved up to test the swing high from May 12. That high reached 1.3076. The

NZDUSD trades between the 100/200 hour MAs The  NZDUSD  – like other pairs vs the USD yesterday – saw the pair shoot higher. The move extended above the 100 and 200 hour MAs, and for this pair also extended briefly above the 50% retracement at 0.63857. However, going into the close yesterday, the price rotated

AUDUSD falls below the 100 hour moving average The  AUDUSD  rallied higher yesterday along with the other dollar selling trends in the major currency pairs. However, once the pair reached the 200 hour moving average and 50% retracement near 0.7066, sellers leaned and the price started wandering back to the downside. Today in the Asian

Nasdaq Index Technical Analysis for mid to end of June, 2022 The Nasdaq Composite Index includes more than 3,700 Nasdaq equities. The Nasdaq Composite Index is a wide index significantly weighted toward the technology sector. For the Nasdaq Index ending on 17 June 2, 2022, ForexLive.com presents the following technical analysis chart images and videos,

AUDUSD stalled at the 200 hour MA/50% retracement The AUDUSD moved up to test the downward sloping 200 hour moving average (green line in the chart above) at 0.70662 and the 50% retracement of the move down from the June high to the June low. That level comes in at 0.70661. The high price reached

AUDUSD trading above its 100 hour MA Looking that major currency pairs, the USD higher has been the theme of late (of course). That has taken the price away from the 100 hour MA in the favor of the dollar bullish side of that MA. With the dollar moving lower today as Powell is a

EURUSD on the hourly chart The  EURUSD  has seen a move to the upside and back down after the FOMC rate decision. The high price extended to 1.0427. The low price moved to 1.0358. Of interest at that low is that the price stayed above the swing lows from May 12 and May 13 at

AUDUSD falls to swing area ahead of the 2022 low The  AUDUSD  is down for the 5th consecutive day. That move has taken the price from from a high of 0.72352 a low today of 0.6965 or 267 pips or -3.7%. Like the other  currencies  today, the initial move today was in the USD lower

The 200-week moving average has been pivotal in the Nasdaq for decades. The share since the financial crisis shows it being tested repeatedly and never breaking aside from a two-week period at the height of the pandemic fears. This level is a good spot for a bounce but if it breaks, it could mean much

EURUSD trades in the extreme area In The price of the EURUSD extended into the “extreme area”, and outside the older “red box” that confined trading from April 27 to May 23, sans the 2-3 days from the lower extreme (between 1.0348 and 1.04578). The move below 1.04578 took the price down to a swing

The DXY trades at the highest level since November 2002 The USD index (DXY) has moved to a new high going back to November 2002 after trading above the May 9 high of 105.00. The price high just reached 105.065. The current price is at 105.02 (see weekly chart above). In May, the price moved

The US 2 year yield has reversed the move from the 2018 high The higher CPI data has pushed the 2 year yield up by about 15 basis points. The high yield reached 2.974%. That was just shy of the high  yield  from the week of November 5, 2018 at 2.977% the lap down to

USDCAD moves back into the old ‘red box’ The USDCAD had lower lows for 10 consecutive days that took the pair to a cycle low at 1.25166 on Wednesday. Yesterday the BOC warned about the housing market which got the ball rolling back to the downside for the loonie (to the upside for the USDCAD).

NZDUSD moves toward lower channel trendline The NZDUSD rallied in the Asian session, and moved back up toward a topside trend line. Recall from yesterday, the price did move briefly above that trend line but quickly reversed to the downside. That move to the downside extended to a swing area between 0.63749 and 0.63792 toward

It’s a rough day for all risk assets but the pound has been particularly hard hit, lagging risk assets badly. Some of that might be a catch-up trade after it found some strength earlier in the week around the Boris Johnson drama but it’s re-correlated with stocks. That correlation was one of the stronger ones