Technical Analysis

USDCHF trades down toward the 200 bar MA on 4-hour chart The USDCHF today moved down to test the lower target area defined by a swing area between 0.9848 and 0.9873 and the 200 bar MA on the 4-hour chart at 0.98431. The last time the price closed below the 200 bar MA goes back

The US stocks are moving higher helped by lower rates (2 year 4.436%, -3.2 basis points. 10 year yield 4.023% -8.7 basis points), and the rate pivot by the Bank of Canada. Instead of raising rates by 75 basis points, they raised by the lower 50 basis point. Recall the Reserve Bank of Australia raised

ARK Innovation skims the Covid lows and is seeing a bounce. Have a hunch and want to be in the riskier stocks? Bet a bunch. Buy the ARKK The ARK Innovation fund – managed by Cathie Wood – moved to a low of $33.74 on October 13. Yesterday the low reached $34.06. Today the price

NASDAQ index is now up over 10% from its lows The major US indices are cheering the bad news as good news for stocks and for Fed policy going forward. The NASDAQ index is now up 1.56%. The Dow industrial average is into positive territory now at +0.47%. The major indices are working on their

The major US indices are higher led by the Dow industrial average is up 377 points or 1.21% at 31458. The S&P index is up 34.16 points or 0.91% at 3787. The NASDAQ index is up 32 points or 0.30% at 10892. Dow industrial average is above its 100 day moving average Looking at the

Technical Analysis A quick look at the EURUSD, USDJPY, GBPUSD and USDCAD to start the trading week The EURUSD is finding support near the 100 hour MA keeping the bias in the favor of the buyers despite the declines from Friday’s trade and the early Asian session run to the upside. The USDJPY moved sharply

Tesla has just reported profits that were a little bit underwhelming, and as a result, the stock price is now down slightly over 6% after hours. This makes it quite near to the even amount of $200. When a stock price is really near to a natural “magnet” that many people take into consideration, the

The USD has moved lower helped by a rotation off the highs in US yields. That is helping to support US stocks which are trading higher on the day. In the US debt market: 2 year yield 4.573%, +2.2 basis points. The 2 year yield reached a high of 4.614% 10 year yield 4.142%, +1.5

EURUSD moves toward 200 bar moving average on 4 hour chart The EURUSD has moved to a new session high and in the process is moving toward the 200 bar MA on the 4-hour chart at 0.98515. Early this week, the price tried to extend above that moving average level on 4 separate bars on

Let’s face it…. the markets are really sensitive and that leads to weak hands on the upside and the downside. Fed’s Harker brought the markets back to reality saying that inflation will be around 4% next year and 2024 at 2.5%. Both are probably above the bulls expectations who see inflation moving down. Josh Brown,

The strongest and the weakest of the major currencies The NZD is the strongest and the USD is the weakest as the NA session begins. The UK political turmoil continues with Truss now meeting with 1922 committee chair Brady (and is being reported that “It is over” for the PM). The GBPUSD is back higher

The USDJPY continues to inch higher after breaking above a topside trend line earlier in the day. The pair is also up for the 11th consecutive day 149.228. The current underside of the topside trend line comes in at 149.61. At a minimum, getting below that trend line and staying below is a requirement if

EURGBP on the daily chart Yesterday I posted of the EURGBP moving to a key support at the 100 day MA at 0.85805 (see: EURGBP tests 100 day MA. Key support). Risk can be defined and limited against the key moving average. Risk focuses traders leaned and the price did indeed bounce higher off of

The S&P index moved above its 100 hour moving average yesterday. That moving average (blue line in the chart above) comes in at 3666.77. The index moved above the moving average in the first hour of trading and stayed above it for the rest of the day. S&P index trades between hourly moving averages Today,

USDJPY buyers remain in control The USDJPY is not letting up. The pair is trading to a new high going back to 1990. The high just reached 148.95. The tries to the downside today could not get very far. Looking at the 5 minute chart, the pair moved below the intraday 100/200 bar MAs on

The major US indices are ending the day with sharp gains. The moves to the upside in the major indices erased the sharp declines from Friday. A lower dollar, and steady to lower yields helped the tone. A shift in some of the technicals are also a help. S&P is back above the 200 week

The major US indices are trading higher in early trading, continuing the advance seen yesterday which saw initially a sharp move lower that saw the S&P test the 50% of the range since the pandemic low at 3505. The price bounced higher and retook the 200 week MA at 3600. The S&P is now close

USDJPY moves to the highest level since 1990 The USDJPY has continued its move to the upside with the pair reaching a high of 147.99 (bid side). The move to the upside today has taken the price above the August 1998 high of 147.67. The pair is trading at the highest level since August 1990.