Technical Analysis

Gold runs away from 100 hour MA The price of  gold  is trading to a new session high of $1935.21. The price trades just off that level at $1934.71. The price is currently up $25.87 or 1.35%. Looking at the hourly chart, the low price yesterday stalled near its rising 200 hour moving average (green

EURUSD backs away from 100 hour MA The  EURUSD  was able to extend higher in the NY session and in doing so, reached to the targeted 100 hour MA and the 50% of the move down from the Feb 16 high. Those levels came in near 1.1247 to 1.1250. The high reached 1.12459, just below

Crude oil stays above its 100/200 hour moving averages The price of WTI crude oil futures is settling up $4.13 or 4.51% at $95.72. The high price reached $99.10. The low price extended to $94.43. Looking at the hourly chart, the ups and downs after the gap higher saw the low price get close to

USDCAD trades back in the Red Box Yesterday, the USDCAD made a move outside of a “red box” that has confined up and down price action in the pair since January 27. The high of that up and down red box range was at 1.27956. The strong dollar buying yesterday saw the price of the

AUDUSD trades back above its 100 hour moving average The price of the  AUDUSD  this week extended above its 100 day moving average (top blueline currently at 0.72376) on Wednesday for the first time since January 14. The run to the upside saw the price extend up to a high of 0.72831. The RBNZ rate

The major European indices are closing sharply higher on the day, but it wasn’t enough to erase declines for the week. For the day: German Dax, 3.66% Francis CAC +3.54% UK’s FTSE 100 +3.91% Spain’s Ibex +3.5% Italy’s FTSE MIB +3.5% For the trading week: German Dax, -3.3% Francis CAC -2.56% UK’s FTSE 100 -0.33%

Wheat is trading down the daily limit The price of wheat traded up the daily limit all day yesterday. The price was locked near $9.34. In the new trading day, the contract moved higher reaching $9.60 before it started to rotate back to the downside. The move to the downside has now taken the price

Crude oil is closing lower this week. The price of  crude oil  settled today at $91.59. That is down $1.22 on the day. For the week, last Friday the price closed at $92.00. So believe it or not, the price is closing lower on the week after trading as high as $100.50 on the spike

Gold is lower on the week  Gold  , like  crude oil  , is closing near unchanged/lower on the week despite mid week spikes on the back of the Russian invasion of Ukraine. The spike high in yesterday’s trading, saw the price move up to a high of $1974.40. That took the price to the highest

EURUSD buyers trying to take back some control The EURUSD has seen a decent bounce after trading to a new 2022 low below 1.11207. The new low for the year could only reach 1.11056 on the break. That was above the natural support, and also above a trend line on the daily chart at 1.1096

Crude oil moved up and then back down The price of WTI crude oil has tumbled back to the downside, erasing the gains seen starting yesterday ahead of the invasion of Ukraine. The last swing low nearly 24 hours ago bottomed at $91.27 before racing higher and peaking above $100 at $100.50. The price over

Crude oil has been trading up and down since early February The price of crude oil settled at $92.10today. That was up $0.19. However since then, the price has move down and currently trades at $91.61currently. That’s nowdown $-0.21 on the day. The catalyst was reports that the US was mullling the release of strategic

GBPUSD tests a support area The  GBPUSD  has completed the lap up and down that saw the price of the pair bottom yesterday at 1.35375, move up to a high today at 1.3619 and then back down to a low today just below the low from yesterday to 1.35348. The 38.2% of the move up

GBPUSD trades in a narrow up and down trading range The    GBPUSD  fell yesterday and in the process tested its 100 hour moving average (blue line in the chart above). In the Asian session today, the price moved below that moving average line, and then retested the line on two separate other occasions (one

USDCAD bounces off its 100/200 hour MAs The price of crude oil is higher and the USDCAD is lower on the day. However, it is also off it’s low for the day. The catalyst for the bounce? Looking at the hourly chart, the low for the day tested the converged 100/200 hour MAs near 1.2718/1.2720.

The markets have shifted on the Russia/Ukraine most recent headlines. The premarket for US stocks have tilted to the downside: Dow -33 points S&P is down -2 points Nasdaq is not unchanged In Europe, the major indices also the turned down with the German Dax now down over -1%. The Spain’s Ibex is down -0.9%.

EURUSD retest its 100 hour moving average/38.2% retracement The    EURUSD  has dipped back to retest its 100 hour moving average and 38.2% of the 2022 trading range. That level comes in at 1.13516. The pair is trading just above that level as I type. Recall from yesterday, the price in the New York session

GBPUSD tests 61.8% and swing area The GBPUSD is in an up and down day. The    GBPUSD  moved higher earlier. That move was helped by better than expected retail sales. However the high price today stalled near the high price from last week near 1.3643, and rotated back lower on the USD buying. The