Technical Analysis

The strongest to weakest of the major currencies The EUR is the strongest and the and the AUD is the weakest as the North American session begins. The bond market has calmed down after first Brainard’s hawkish comments on Tuesday, and then the Fed minutes yesterday that indicated the Fed was closer to raise about

GBPUSD chops up and down today. Marginally higher. The  GBPUSD  is trading modestly higher on the day (closed yesterday at 1.3070 and trades at 1.3076 currently) in what has been a choppy trading day. The initial move in the GBPUSD was to the downside building on the down day from yesterday that first saw a

USDCHF looks to test swing area and retracement area As the dollar continues to move higher (new highs vs the EUR, GBP, JPY all being made), the  USDCHF  is also in that group. Looking at the hourly chart, the pair moved above it’s 200 hour MA at 0.92802. That was the first break since March

GBPUSD fell below low from Friday and Monday now The GBPUSD has continued it’s reversal to the downside, and it now trades below the low from Monday and the low from Friday. The pair is trading at the lowest level since March 29. That development comes after taking the price up around 53 pips into

EURGBP runs lower today. The  EURGBP  is following the EURUSD’s move lower today and in the process has shifted the bias back to the downside. Recall from last week, the price low on March 28 was at 0.8321 but by the end of the day, had moved above the 100 hour MA, and the 200

The major US stock indices are closing higher with the NASDAQ index leading the way. The Dow 30 lagged. The final numbers are showing: Dow industrial average up 103.67 points or 0.3% at 34921.95 S&P index up 36.76 points or 0.81% at 4582.63 NASDAQ index up 271.06 points or 1.90% 14532.56 Russell 2000 up 4.32

USDCHF moves up to test its 100 hour moving average The  USDCHF  has pushed higher with the dollar buying in the NY session, and in the process has moved up to test the falling 100 hour MA at 0.92778. Sellers leaned against the moving average level on the first test, and the price of the

AUDUSD mired in a sideways up and down market The  AUDUSD  ‘s ups and downs continue today with the pair trading above and below its 100/200 hour moving averages in the process. The 100 hour moving averages currently comes in at 0.7498. The 200 hour moving average is at 0.7494. The low for the day

USDCAD stays below its 200 hour moving average The  USDCAD  is trading up and down today. However, the swings has seen the 200 hour MA hold resistance (still – the last three tests have found sellers against that moving average). The low for the day is higher than the low from yesterday (which was higher

I’m not going to draw any fancy lines on the chart but a glance at the monthly oil chart stands out because of the looming mirror image from April 2020, when prices went deeply negative only to leave a largely unchanged candle. This time it’s a different geopolitical event but much of the same look

EURJPY consolidates between hour MA levels The EURJPY moved below its 100 hour MA for the first time since March 9th yesterday and moved down to test a swing area between 134.61 and 134.86, along with the rising 200 hour MA. The swing area was modestly broken, but the 200 hour MA could not and

The major indices are closing higher after a late session surge take the Dow and S&P toward the highs and reverse declines in the NASDAQ index. The major  indices  snapped a two day decline. The Russell 2000 index was the biggest gainer today. The final numbers are showing: Dow industrial average up 139.92 points or

NZDUSD trades above and below the 100/200H MAs The  NZDUSD  has been trading above and below its near converged 100/200 hour MAs at 0.6938 area. The current price is trading at 0.6930 – below those two key moving average levels. However, adding some caution is that the price has been trading above and below those

USDJPY had the largest trading range since March 2020 The price of the  USDJPY  has been down for 3 consecutive days, but the month of March saw the USDJPY have the largest range for a calendar month since March 2020 – the start of the pandemic lockdown in the US. In March 2020, the low

EURJPY fell down to test its 100 hour moving average The  EURJPY  has been trending to the upside since bottoming on March 7 at 124.374. The pair peaked on Monday at 137.53 for a gain of 1315 pips over the course of 16 trading days. Since then, the price has traded up and down. Yesterday

NASDAQ index moves toward its session lows The  Nasdaq  index is trading down over 220 points on the day or -1.52% at 14395. The index is off the low for the day but moving back to the downside as the day works toward the close. The low for the day reached 14383.45. Looking at the

USDCAD stuck between floor below and 100H MA above The  USDCAD  yesterday moved above it’s 100 hour MA (blue line). That was the first break of the MA since March 15. The price break saw the pair move up to the next key MA level at the 200 hour MA (green line). That MA did

NASDAQ index approaches its 100 day moving average The  Nasdaq  index is currently trading up 234 points or 1.63% at 14500. The high price reached 14591 so far. The index is working on its eight day higher in 11 trading days. Since bottoming on March 14, the index is up over 16%. The index is