Technical Analysis

USDCAD can not stay below the 200 day MA The USDCAD moved sharply lower yesterday and fell for the 3rd day in a row. The pairs move to the downside, was able to extend back below the low from last Friday after the stronger than expected jobs report validated the BOC decision to raise rates

USDCHF on the daily chart The  USDCHF  peaked this week on Wednesday at 0.94594, but stalled ahead of the swing high from 2021 (from April) at 0.9472. The price closed lower on that day and again yesterday. Today the price is also lower with more up and down trading. Looking at the daily chart, the

AUDUSD trades near session highs The  AUDUSD  is retesting the high for the day at 0.74085. That high was made in the late Asian/early European session. The subsequent fall saw the pair move below a swing area between 0.73675 and 0.73799. The last dip came on the back of the Fed’s Waller hawkish comments and

NZDUSD retest its 200 day moving average today The  NZDUSD  has moved up to retest its 200 day moving average today. That level comes in at 0.69099. The high price reached 0.69089 and backed off. The current price is trading at 0.6895. Traders tested that 200 hour moving average earlier this month and found sellers

The price of WTI crude oil futures are settling sharply higher and back above the $100 level. The price is settling at $102.98. That’s up $7.94 or 8.35%. Crude oil is back above $100 and above the 100H MA Looking at the hourly chart, the price rise today took the price of the contract back

EURGBP breaks to a new week high but fails The EURGBP fell lower ahead of the Bank of England decision, but after falling to its 200 hour moving average, the pair quickly reversed higher help by the more hesitant tightening from the central bank. The sharp move to the upside took the price back above

The major US stock indices are moving back to the upside with the NASDAQ index back near up 2.0%. The Dow and S&P are also well off session lows. Are markets applauding the more hawkish of Fed? The reactions are just that reactions. There is a full story ahead which also includes Russia/Ukraine and its

The GBPUSD is moving from 200 hour MA The  GBPUSD  is trading to a new high and in the process to has moved above a swing area between 1.3138 to 1.31438. The high price just reached 1.3148. The pair is also moving away from its 200 hour moving average at 1.31035. Going into the Fed

USDJPY corrected to the underside of the broken trendline The USDJPY corrected lower earlier today and in the process retested the broken trend line on the daily chart above. Buyers leaned and pushed the price back up. They are not giving up on the run higher (or so it seems). Looking at the 5 minute

GBPUSD held the 100 hour MA again The dip buyers in the  GBPUSD  today bounced the price off /near a nice round natural  support level  at 1.3000 (the low reached 1.29993). The price moved higher into the North American session and approach the falling 100 hour moving average, and also a swing area between 1.3080

The NASDAQ index had another tumble with the index falling -2.04% and closing below the February low at 12587. The price closed the day at 12581.23. NASDAQ index closed below its February low Looking at the major indices, the Dow industrial average squeaked out a small gain of 1.05 point (at least it was a

AUDUSD moves below its 100 day MA The  AUDUSD  moved lower into the North American session but found support buyers against its 100 day moving average (and 61.8% retracement of the move up from the February 24 low). After spending six or so hours with buyers leaning against that key moving average, it was eventually

USDJPY trades the highest level in five years The price of the  USDJPY  as traded to the highest level in five years on a surge higher today (highest level since the week of January 8, 2017). Looking at the weekly chart, the move higher today surpassed the February 6, 2022 high at 116.33. Looking at

USDJPY find support buyers near the 100 bar moving average The USDJPY is retesting – now breaking above – the earlier high for the day at 117.055. That takes price to a new high going back to the week of January 8, 2017. A topside trendline on the weekly chart cuts across at 117.55 area

EURUSD dips below its 100 hour moving average The EURUSD has moved to a new session low in the process is dipping below its 100 hour moving average at 1.09617. Traders want to see the price gather more momentum below that level and moved below the 109.33 to 109.43 swing area (see red numbered circles).

GBPUSD stay below its 100 hour moving average The GBPUSD early today extended swing lows from Tuesday and Wednesday and yesterday between 1.3080 and 1.3087. The price eventually rotated to a new low going back to November 6, 2020 at 1.30502, but could not sustain momentum. The corrective move higher help by the Putin headlines

WTI crude oil The price of WTI  crude oil  futures settle at $109.33. That’s up $3.31 or 3.12% for the day. The high price this week reached $130.50 in the early hours of trading on Monday. The low price reached $103.63 on Wednesday. Last Friday, the price settle at $115.68. So for the week, the

As London/Europe traders hit the pubs and the trains, the USD is reaching to new highs vs all the major currencies with the exception of the CAD (the CAD has been supported by better employment data today). EURUSD: EURUSD moves away from its 100 hour moving average The EURUSD fell back below its 200 hour