Technical Analysis

EURUSD up for the fourth consecutive day The EURUSD is working on it fourth consecutive day to the upside. The pair reached the lowest level since early June 2020 on Friday of last week. Since then, the price has moved over 200 pips in the last four days of trading. In the process, the price

The major US indices are closing higher and near the highs for the day for the 3rd day in a row. After the close alphabet Q4 results saw a beat on the revenues and earnings per share. They also announced a 20:1 stock split. The price of Alphabet is trading up $137 or 4.98% it

EURUSD moves above its 200 hour moving average The EURUSD is up for the third consecutive day after bottoming at 1.11207 on Friday. That low on Friday took the price to the lowest level since June 2020. After a modest gain on Friday, the price started to gain more upside momentum during yesterday’s trade. Yesterday,

S&P index moved back above its 200 day moving average The major US indices are now all positive with the NASDAQ leading the way. The S&P index is up as well by 0.82% after opening near unchanged. Technically for the S&P index, it has moved back above its 200 day moving average currently at 4436.50.

The AUD is the strongest and the CHF is the weakest As the North American session begins the AUD is the strongest and the CHF is the weakest. The USD is mixed to lower with sharp declines vs the AUD and NZD as those currencies rebound as “risk off” flows abate for the day at

GBPUSD stalls near support swing area GBPUSD this week fell below the 100 day MA on Monday and stayed below on Tuesday and Wednesday. Yesterday the price continued the move lower and pushed below the 50% midpoint of the move up from 2021 low reached in November at 1.34533 (see daily chart above). The pairs

NZDUSD enters a swing area going back to 2020 The NZDUSD is working on the 7th consecutive day to the downside and 9 of the last 11 days. The close from yesterday was at 0.6594. The current price is at 0.6546 so notching the 7th day lower is looking good. Since the high on January

USDCAD returns to the high from yesterday The USDCAD has been up 4 of 5 days this week. The low was made on Monday at 1.2553, and that level was tested again ahead of the Bank of Canada decision on Wednesday when the low reached 1.2558 (just 5 pips from the low). The BOC kept

Today is the seventh consecutive day of declines in NZD/USD. Even with a better mood in markets today, the pair is down 40 pips to 0.6542. Yesterday it was largely a broadly strong US dollar pushing the pair down but the kiwi is uniquely soft today, along with the Australian dollar. The weekly NZD/USD chart

EURGBP bounces off the low from last week The EURGBP bottomed last week at 0.8305 (on Thursday), and shot higher peaking at 0.84218 on Monday of this week. The high price on Monday, was able to extend briefly above the 38.2% retracement of the move down from the December 8 high to the low price

The strongest to weakest of the major currencies The GBP is the strongest of the majors while the AUD is the weakest as North American traders enter for the day. The USD is stronger and just behind the GBP for the strongest currency today. Today, the markets will wrestle with PCE (for December) and employment

It wasn’t long ago that the headlines were extolling the valuation of Apple extending above $3T. Since the price reached that milestone back on January 4th, the price has been moving down and down since. Of course the overall market is lower as well. The price of Apple is currently down about 13.4% from that

The strongest to weakest of the major currencies It’s the day after the FOMC meeting, where Fed chair Powell of the door opened for a lot of things including the potential 50 basis point hike. In actuality, the market has been doing the tightening for the Fed as rates have moved up including mortgage rates

The snapshot of the market just ahead of the Fed decision saw: Spot gold is trading down $18.50 or -1% at $1829.40 Spot silver is trading down one cent or -0.06% at $23.77 WTI crude oil is trading up $1.74 at $87.34 Bitcoin is trading at $38,096 2 year yield is at 1.03% 5 year

As the North American session begins, the CAD is the strongest and the JPY is the weakest of the major currencies. The USD is mixed ahead of the FOMC decision today. The last sleep is over. The Fed decision will be made today with lots for Chair Powell to work through including taper (will they

EURUSD on the hourly chart The EURUSD moved down to test a swing area between 1.1260 to 1.1263 (see earlier post) and found risk focused traders willing to stick a toe in the water (with stops below). The price has moved back above the broken trend line and 1.1285 swing area, and has seen more

The strongest to weakest of the major currencies The forex market is a bit of a jumble to start the day with the USD and CAD as the strongest and the CHF and NZD as the weakest. US stocks are lower again in pre-market trading after the incredible comeback yesterday (Nasdaq down around 300 points

USDJPY trades up and down in a confined range The USDJPY has seen more up and down price action today continuing the price action seen on Friday. The pair did move below the low from Friday’s trade, but found support near the low from January 14 at 113.474. It dipped briefly below the level to