Technical Analysis

The major US indices closed the new near session lows. The declines were across the board today as the overall market reacted to the idea that the Fed would look to run down its balance sheet in addition to increasing the taper, and starting to tighten. The Dow industrial average closed at record levels on

GBPUSD is back down testing its 100 day moving average When the GBPUSD moved above its 100 day moving average earlier today, and showed some further upside momentum toward the next target near 1.3600, the risk level was reestablished at the broken 100 day MA at 1.35543. Well… With the FOMC minutes showing the Fed

The US major stock indices are closing mixed: The Dow industrial average is closing up 214.57 points or 0.59% at 36799.64. That is a new record close. Intraday, the price it reached a new all-time record high 36934.84. The index has 2 record closes in 2022. The S&P index closed down -3.04 points or -0.06%

GBPUSD coils near the highs The GBPUSD extended above the swing area between 1.3521 and 1.3528 today. On the break above, the high from last week at 1.35491, followed closely by the 100 day moving average at 1.3556 were the targets. The first target was broken at 1.35491. The 2nd one was tested but found

Amid thinner market conditions last week, the pair managed to hold a weekly close above 115.00 and is running with that so far to start the new year. The latest jump is largely helped by the surge higher in Treasury yields yesterday, which saw 10-year yields climbing by over 10 bps to 1.63%. A stronger

GBPUSD on the hourly chart The GBPUSD is up retesting – now moving above – the 100 hour MA at 1.34821 despite the continued rise in yields (10 year up 13.2 basis points). Earlier today, the price tested that moving average line before breaking below the level on it’s way to the 200 hour moving

NZDUSD on the weekly chart The NZDUSD stepped lower in 2021 in choppy up and down trading. The moves to the downside came despite rate hikes by the Reserve Bank of New Zealand toward the later half of the year. The expectations are the central bank will look to continue that trend in 2022. Overall,

AUSDUSD on the weekly chart The AUDUSD in 2021, reached its high for the year on February 25th at 0.8006 which was near a nice natural resistance of 0.8000. The price low was not reached until the December 3rd at 0.6992 (also near a natural support level at 0.7000). The range of 1014 pips compares

USDCAD rallied into the year end but stalled at the 100W MA The USDCAD had a down, and up, and down, and up year with the pair reaching the year high in the 2nd to last week of the calendar year. However, the new high in December was only by a few pips and it

The Dow industrial is the only major indice to close higher today. However, it fell just short of closing at a record level of 36432.23. The S&P index, which closed at a record level yesterday, moved to a new intraday high, but closed lower on the day. Dow has been up for 5 consecutive days

USDCHF below the 100 week MA. Bearish below. The USDCHF has seen a recovery to the upside in 2021 (flow out of the safety of the CHF and rise of the USD), but the gains have been somewhat limited, and the year is looking to end with a more bearish bias technically on the longer

USDJPY trended higher in 2021 The year 2021 for the USDJPY can be characterized as a trend like move higher. The USDJPY pair had it’s low for the year on January 6th (the first week of the trading year) at 102.586. The high for the year (with a few days left to go) peaked at

The EURGBP’s tail is wagging the dog (the EURUSD and the GBPUSD) in trading today as it falls sharply. EURGBP on the hourly chart has been tumbling lower The selling started in the Asian session after a run to the upside stalled, and the price started to crack below swing levels going back to last

NZDUSD trades between swing areas on the hourly chart The NZDUSD has been trading in an up and down trading range today after the sharp rise higher yesterday. The price action has been mostly center between the lower swing area between 0.6798 and 0.6806 and a higher swing area between 0.6833 and 0.6838. There have

The S&P index is moving closer to its all-time high close. That level comes in at 4739.72. The high price just reached 4733.19. The S&P index is approaching its all-time high The price closed last week at 4620.65. On Monday the index gap lower reaching a low price of 4531.10 before starting a three day

GBPUSD on the weekly chart The GBPUSD closed the 2020 year at 1.3662, and spent the first 37 trading days working its way to the upside. A swing high was reached on February 24 at 1.4240 (578 pip from the year end close), before correcting down to 1.3668 at the end of March and early

The GBPUSD has trended lower in 2021 The EURUSD has seen the price move down in 2021. In fact the high for the week was reached in the first week of the year (on January 6) at 1.23488. The low for the week was reached toward the end of November at 1.11853 (on November 24).

USDTRY stalls at the 100 day moving average The USDTRY has had an extraordinary run over the last few days. That came after an huge run to the upside for the pair. On Monday, the pair soared to a high of 18.349. That was up from 6.89345 back at the lows in February. Since then