Technical Analysis

NASDAQ index lower for the second time in three trading days The S&P index snapped a seven day winning streak with a modest decline of around five points or -0.11%.  The Dow industrial average posts a record close and is up for the third day in a row. The Dow’s record close was the first

Dow opened higher. S&P near unchanged The major indices in the US are opening up with mixed results.  The NASDAQ is under the most pressure as social media stocks weigh on the index.  Snap earnings disappointed and that dragging down Facebook shares with it.   The NASDAQ index has been up six the last seven trading days The

Can the sellers keep a lid on the pair now? The EURUSD has stretched the decline below the 100 hour MA now (blue line in the chart below).  Back on Monday, the pair moved below that moving average line but found support buyers near its 200 hour moving average and bounced. The 200 hour MA is still a

The rising 100 hour moving average 1.16258 The EURUSD moved higher in the Asian session and in the process, moved close to its 38.2% retracement of the move down from the September high at 1.16705. The high price reached 1.1667 within about three pips, before rotating back to the downside.   The new low reached in the current hourly bar extended

The technical bias remains in the bulls/buyers court The CADJPY has been on a tear to the upside since the September 20 low (Adam speaks to the fundamental of the CAD HERE).   Over a 22 day period, the price has risen over 800 pips, and with today’s new high trades at the highest level since

Moves above the 100 day MA yesterday and today fizzled ahead of the 200 day MA  The GBPUSD is backing off today as inflation data was a bit weaker and yields have moved lower. Technically looking at the hourly chart, the high price yesterday and again today moved above its overlaid 100 day moving average (blue line

What levels are in play for some of major currency pairs EURUSD:  The EURUSD trended higher in the Asian and into the European session and in the process moved above the high from last week at 1.16238 and the high from October 4 at 1.1640.  However, the pair stalled at 1.16687 which was a few pips short of the

Current price trade above its 100 day moving average but below its 200 day moving average   The GBPUSD trade above a swing area and 61.8% retracement between 1.37208 at 1.3733 on Friday (see lower yellow area in the chart above), and corrected lower during trading yesterday. The price did dip below the 61.8% retracement level on a few hourly bars

Price trades at the highest level since June 17 The EURJPY is up for the eighth straight day. In the move higher, the price last week extended above both its 200 day moving average (currently at 129.91) and the 100 day moving average (currently at 130.433).  There has been little in the way of a correction since the breaks. The price is

200 hour MA stalls the fall today The EURUSD is back up and trading to a new day high in early US trading. The move higher only came after an Asian session move to the downside bottomed against the 200 hour MA at 1.15692 level (green line in the chart below). Also near that level

Short term technicals tilt The USDJPY has rotated back to the downside (at least in the short term).  From an earlier post, I commented on the holding above the 100 bar MA  (blue line) as a key barometer for short-term buyers and sellers.  That MA was broken at 114.266, and buyers turned to sellers.  The

Swing area between 0.7072 and 0.7077 The NZDUSD has continued its run to the upside which started on Wednesday near the 0.6908 floor from October 7, October 8 and October 11. The low price on Wednesday reached 0.69106, and bounced higher. Yesterday’s trading action saw the pair move above its 100 day moving average (currently at 0.70199 – see

What are the charts saying for the major currency pairs. Heading into the new trading week, what key technical levels are in play that traders around the world will be watching (and why?).  Below are the stories….. EURUSD: The EURUSD traded to a a new low for the year this week taking out the October 6

Test of 100 hour MA at the high, finds sellers. The USDCHF on the hourly chart below, shows an up and down kind of day. That is the reverse of yesterday’s day which saw the price first move lower, before snapback higher.   The run higher today reached up toward the 100 hour moving average and the 38.2% retracement

The NASDAQ back above its 200 hour moving average. S&P running away from its 50 day moving average The major US stock indices continue to move higher. With the S&P index up about 34 points or 0.77% at 4473. The NASDAQ index is up about 70 points or 0.48% at 14894. For the S&P index, it close

Yen weakness the dominant theme in the major currencies space USD/JPY is keeping higher, up by over 0.4% to 114.16 currently near the highs for the day as the prevailing theme to start the session has been that of yen weakness. 10-year Treasury yields are up 2 bps to 1.54% so that is helping to

The key bias and technical levels for some of the major currency pairs The trading day is coming to an end with stocks moving sharply higher. That dynamic has the flow of funds into the “risk on” currencies including the NZD, CAD and AUD. Those three currencies are the strongest of the majors.  The biggest loser is the JPY followed

The dollar is down to the lows for the day currently It’s all about the ebb and flow this week and as much as the dollar has run hot in the past few weeks, things just aren’t going the way for the greenback at the moment. I made note of this earlier in saying that: