Technical Analysis

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

US 10 year yields The US 10 year yield has moved up to a session high of 3.811%. Just 2 days ago the yield was down at 3.564%. Looking at the hourly chart, the price has moved above the 50% midpoint of the move down from the September 28 high at 3.792%. The yield stay

EURUSD looks toward the 200 hour MA support target The EURUSD is looking back toward the lows for the day. The US stocks are moving back down with 30 minutes left in trading. US yields remain higher with the 2 year up 8.9 basis points and the 10 year up 6.5 basis points. Looking at

GBPUSD moved down to retest the 100 hour MA The ISM manufacturing index came in little better than expectations of 56.7 vs. 56.0 estimate. The prices paid did decline but employment rise ahead of the nonfarm payroll report on Friday. US stocks are continued its moved to the downside. The Dow industrial average down -1.17%

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Gold moved back above its downward sloping trendline The price of spot gold has moved up 5 last 6 trading days (the one down day was just by $1or $2). The move to the upside took the price from the low on September 28 at $1614.92. The high price today has reached $1729.46. That’s a

The RBA raised rates by 25 basis points which was less than the 50 basis point mostly expected by the market. The action initially sent the AUDUSD lower. It then rallied higher extending above the highs from last week but only by a few pips before rotating back to the downside. AUDUSD trades up and

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

With US stocks racing higher and yields moving lower, the risk-on currencies (CAD, AUD and NZD) are moving to the upside (the USD LOWER) in trading today, and testing respective 200 hour MA levels. Dow is up 854 points or 2.98% at 29581.48 S&P is up 104 points ro 2.90% at 3689.73 Nasdaq is up