Technical Analysis

Three strong days for CAD/JPY I continue to find CAD/JPY is one of the more-fascinating charts out there. It broke down on August 20 at the peak of the delta worried but ended up finishing that day higher before jumping the next Monday. But it couldn’t get above the August high and then the Evergrande

10-year Treasury yields saw a breakout in trading yesterday The bond market has been rather indecisive and “lazy” over the past two months but it finally becomes relevant again for markets as we saw a breakout in yields yesterday. 10-year Treasury yields climbed all the way up back above 1.40% and sealed a technical break

The swing area between 1.1748 to 1.1755 and the falling 200 hour MA being tested The EURUSD moved back above its 100 hour moving average early in the North American session and has for the most part been able to stay above that level. The pair had found some overhead resistance near the 1.1750 area (a

EUR/USD is trading up 0.2% to 1.1710 There was a whipsaw reaction to the Fed yesterday, where the pair climbed to a high of 1.1755 initially before falling back and even dropping below the 1.1700 level at the close. But amid lighter trading so far today, buyers are able to push their way back above

Key market levels ahead of the FOMC decision With about 6 minutes until the FOMC decision, a snapshot of the market currently shows Forex: The CAD is the strongest of the majors, while the JPY is the weakest. The USD is trading mixed with modest gains verse the JPY and more modest gains verse the CHF, GBP and near

Trend line and 100 hour moving average keep a lid on the upside The AUDUSD has retraced its earlier gains. The early Asian session low reached 0.7235 area. Swing lows from the New York afternoon session also bottom near that level. The low price just reached 0.7234.  So far support buyers are leaning against that low level.  The low price

The pair remained below its 100 hour moving average on the corrective move higher The EURUSD is testing a lower swing area near 1.1721 and 1.17264. The move to the downside has nearly retraced the earlier session lows which came in just below that swing area at 1.17177.    The earlier move to the upside today peaked at 1.1748. The low from

The S&P 500 fell to test its 100-day moving average for the first time since October last year Invest in yourself. See our forex education hub. It was one of the worst fall in months for US equities but at the end of the day, the S&P 500 managed to cling on and hold off

First time below the 100-dma in the Biden era The S&P 500 hasn’t been below the 100-day moving average since late October. Even then it was only for a few days. Before that you need to go back to May 2020 for a sustained stretch below the key level, which is at 4326 today. The

Spain’s Ibex the one exception The major European indices are closing the the week mostly lower. The exception is the Spain’s Ibex which rose 0.35%. The provisional closes are showing: German DAX, -1.1% France’s CAC, -0.9% UK’s FTSE 100, -1.0% Spain’s Ibex, +0.30% Italy’s FTSE MIB -0.80% For the week, the major indices or showing

The pair test the lower swing area around 0.7270 The AUDUSD tried to move higher in the early European session today, but ran into topside trendline resistance and a swing area between 0.7316 and 0.73226.  The price rotated down with the overall dollar buying in the US session.  In the process, the price moved back below the 50%

The 200 hour MA is breached in the Nasdaq but can’t reached the week low The NASDAQ and S&P remain under the most pressure today. The NASDAQ index is currently down -1.1% at 15014.01. The S&P index is down -41.61 points or -0.93% at 4432.02. Looking at the NASDAQ index (see hourly chart above), it did reach below its 200

The 200 hour moving averages at 109.869 The USDJPY continued the run higher started on Wednesday when the price stall against the August 16 in August 17 lows near 109.11. The move to the upside yesterday cracked above the 100 hour moving average but stalled against the 100 day moving average and backed off. Today, the price retried the move to

Yield up from 1.344% a week ago The 10 year yield closed last Friday at 1.344%. The current yield is around 1.372%. So for the week, the yield is up a little less than three basis points. That’s not all that much.  Looking at the week, the yield move down on Monday and Tuesday bottoming

Trendline cuts across at 1.1722 The EURUSD is traded to a new session low and in the process is testing a swing area between 1.1723 and 1.17264 and a lower trendline at 1.1722. Drilling to the five minute chart below, the price corrected in the Asian session into the European session and in the process moved above

Tests the falling 50 hour MA The NASDAQ index is trying to snap victory from the jaws of defeat and close higher on the day.  The pair has erased the earlier declines that saw the index fall by -114.40 points. It is currently trading up around 12 points or 0.09% at 15173.40.  The price is currently

A topside swing area between 151.44-151.59.  Lower swing area between 150.813-150.865.  The GBPJPY fell to the lowest level since August 27 during yesterday’s trade. That move bottomed at 150.813 which was within a swing area between that level and 150.865.  The price moved back higher and stalled near another swing area which includes the 38.2% retracement at 151.440 and swing

Major indices all higher The US stocks are closing near their highs for the day. The Russell 2000 index of small-cap stocks was the biggest gain or with a 1.1% rise. Dow and S&P up to the last three trading days NASDAQ snapped a five day losing streak The major indices closed near their highs