Technical Analysis

USDCAD moves above swing area The USDCAD is trading to a new session high that took the price to 1.3881. In the process, the pair moved above the September 28, September 30, and October 11 highs between 1.3837 and 1.38548. On Wednesday and pre-CPI on Thursday, the price approached those levels before breaking higher after

S&P is back below the 200 week moving average The major US stock indices are rushing to the downside and trading to new lows for the day. The NASDAQ is leading the way with a decline of over 2.00%. Coming into the day, the NASDAQ was near unchanged for the week. For the S&P index

The AUDUSD reached it’s high for the week on Monday when the pair rallied but stalled against a downward sloping channel trendline. AUDUSD falls below floor from earlier in the week That channel followed the price down to a low on Tuesday before the market started to consolidate into the CPI data on Thursday. The

NZDUSD on the weekly chart The NZDUSD fell to the lowest level in 2022 this week at 0.5510. That is within 44 pips of the 2020 swing low at 0.54668. The price is currently at 0.5558 about 108 pips from the 2020 low all-time low. The 2020 low is the lowest level since March 2009.

The USDCHF raced higher after the better than expected CPI data. That took the pair to a new 2022 high and to the highest level going back to May 2010 (see daily chart below). The high price today took the price above the swing highs from 2022 at 1.00493 and 1.00637 (from May and June

What a day! For the day, the S&P had its fifth-largest intraday reversal from a 52 week low. The low today was down -2.39%. That was a new 52 week low. At the close it was up 2.6% For the NASDAQ index it was the 4th largest reversal from a 52 week low.. At the

NZDUSD stays below 100 hour MA Like many pair’s yesterday, the NZDUSD tested/moved above the 100 hour MA (blue line) but could not keep upside momentum going, fell short of the next targets (for it the 200 hour MA) and rotated lower. Today, looking at the hourly chart, the price action has continued to move

The US CPI will be released tomorrow at 8:30 AM. Adam has put up a post outlining the fundamental expectations for that pivotal release. You can find that report HERE. In addition to know the expectations, it is important for traders to understand the bias, the potential bias shifts (i.e. from bullish to bearish or

The price of WTI crude oil futures are settling at $89.35. That’s down -him $1.78 or -1.95%. The low for the day reached $80.38. The high for the day traded up to $91.33. Looking at the hourly chart below, the price has traded above and below its 100 hour moving average in trading today, but

GBPUSD falls to a new session low The BOE Bailey comments have helped to reverse the GBPUSD lower and the USD back to the upside. Just an hour or so ago, a number of major indices were testing their 100/ 200 hour MA levels on the USD selling (see video here). Those levels stalled the

EURUSD trades between swing areas The EURUSD is lower on the day and trading near the lows, but off the lows. The high prices stalled near the top of a swing area between 0.9723 to 0.97506. ON the downside the price fall stalled near another swing area between 0.96706 and 0.96836. The current price is

The USDJPY is moving to a new session high and in the process is working toward the swing high from September 22 at 145.90. The price moved above the earlier session high at 145.662. USDJPY trades toward the September high The Bank of Japan intervened in the market on September 22 sending the USDJPY down

Here is my bitcoin technical analysis and price forecast with a 4-to-1 reward-vs-ratio trade idea. That is quite aspiring so partial profit taking can be executed along the way, at your discretion. The stop loss is at $21575. The take profit target is at $10657. I hope the crypto gang doesn’t kill me for this

Both the US and the Canadian jobs reports will be released at 8:30 AM ET. For a technical review of the EURUSD, GBPUSD, and USDCAD ahead of the report, click on the video ABOVE. In the VIDEO, I look at the levels in play that would tip the technical bias more in the favor of

. The EURUSD stay below the 50% midpoint of the 2 week range The EURUSD move lower after the US jobs report, and in the process dipped below the lower end of a swing area at 0.9733. The underside of a broken trend line was also near that level (on the hourly chart). However the

GBPUSD trades above and below 200 hour moving average The GBPUSD has moved below the 200 hour MA for the 2nd time since the US jobs report. The 200 hour MA comes in at 1.11169 currently. The initial try, took the low to 1.10903 before bouncing. That low tested the broken 38.2% of the 2

USDCAD find support against its 200 hour moving average The him USDCAD moved up to test the early European session high near 1.3761. The high price reached 1.3760 and rotated back to the downside. Higher oil prices are helping to contribute to the loonie’s strength (lower USDCAD). The current prices trading at $91.15. That’s up

The major US stock indices are still up on the week… The broader S&P and Nasdaq indices are both down over 2.2% on the day. The S&P is down -2.22%. The Nasdaq is down -2.85% That’s horrible. However, both indices still remain up on the week. Yahoo! Yippee! What a great starrt to October. A