Technical Analysis

Takes out the June low at 1.21035 The EURUSD has continued it’s decline as dollar buying continues all of a sudden. The price of the pair moved below the swing area outlined earlier at 1.21254 to 1.21317. That area is now a risk level for shorts. Stay below (and out of the “red box”) keeps

High price reached $71.24 The price of crude oil futures extended to a cycle high of $71.24. That is the highest level since October 2018. The current price trades around $71. The price of crude oil is up for the 3rd week in a row. The price closed around $69.40. This week, the price traded above the

Back below 1.0900 The price of the EURCHF are trading to new session lows on the day and in the process is trading at the lowest level since February 23.  Looking at the daily chart, the price also is extending below its 50% midpoint of the move up from the November swing low to the March swing

Can you trust the buying though? The GBPUSD is keep in the buyers in control as the price has now remained above its 200 hour moving average for the last 5 hourly bars. That moving average is currently at 1.41537. The price just reached a new intraday high of 1.41753. The next target comes in at the high from

Awaiting the next shove The GBPJPY is setting up between MA resistance above and swing area support below. Looking at the hourly chart, the 200 hour moving average stalled the rally in trading today. That moving average currently comes in at 155.247. On the downside, a swing area between 154.39 and 154.44 found early buyers against that

Below 200 hour MA. Above the 100 hour MA.  Waits for the next shove The EURJPY on the hourly chart below, peaked last week at 134.117 after taking out highs at 134.06 area, and failing to keep any sort of momentum going on the break.    The subsequent fall from the June 1 high to the

The low yesterday and today reached 0.7187 The low on Monday occurred in the first hour of trading at 0.7187. The low today reached in the early hours of trading extended to 0.71866. In a non-trending environment, what goes up, tends to come back down. The move to the downside today today was helped by the pair

100/200 hour MA, 100 day MA between 0.7223 and 0.72297 The AUDUSD is staying above a cluster of MAs between 0.77238 and 0.77297.  The cluster includes the 100 hour moving average, the 100 day MA (at 0.77256) and the 200 hour MA at 0.77297.  The low price today has reached 0.77312. Like so many of the pairs today, the range

Dow lags and posts the worst day in more than two weeks The major US indices are closing mixed with risk on flows sending the Russell 2000 and NASDAQ indices higher. The broader big cap stocks of the S&P index and Dow declined. The NASDAQ closes 2% from the high S&P closes less than 1% from the high

Price moves back higher after test of 200 hour MA, stalled intraday correction The GBPUSD has moved to a new session high after the NY session saw the pair stall the fall against the 200 hour MA (see earlier post).  Staying above that 200 hour MA kept the buyers more in control.  The pair is

Also trading above and below the 200 hour MA The AUSDUSD, followed the USD higher yesterday, and in the process ferll below the swing lows from May 4 and May 28 near 0.7675 area. The low price extended to 0.76454. However, the unemployment statistics today through a monkeywrench into the dollar higher break. The price surged higher as traders reversed bias

German DAX trade to a new all-time high today. France’s CAC traded to its highest level since 2000 this week the European shares are ending the day mostly higher. The exception is the Spain’s Ibex which is down around -0.5%. For the week, the major indices are mostly higher again with Spain’s Ibex trading in

Near 100/200 hour MAs and 50% of the week’s trading range The GBPUSD closed last week near 1.4183. The high for the week reached up to 1.42493 on Tuesday. That high took out the high price from February 2021 at 1.4240 (not shown), but only by 9 pips.  The move also took the pair to the

CFTC commitments of traders: EUR longs increased. CAD longs increase Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly futures forex positioning data from the CFTC EUR long 109K vs 104K long last week. Longs increased by 5K GBP long 24K vs 31K long last week.

All major indices higher All the major indices are closing the session with gains. The day was led by the NASDAQ index NASDAQ has its best day since May 20 NASDAQ higher for the third straight week S&P has its best day since May 24 Dow and S&P higher for the second straight week A look

Swing area between 0.7207 and 0.72122 The NZDUSD followed the dollar lower trend and spiked to the upside.  The move higher took the price back above its 100 day moving average at 0.71780. It also moved above the 38.2% retracement of the move down from last week’s high at 0.71977. The high price moved to 0.72087. That high stalled within

Dow snaps five they win streak  The NASDAQ index is leading the decline with its biggest decline in three weeks. It also increases the up one day/down the next day string to 11 consecutive days. S&P index is down for the second time in three days Dow industrial average snaps it’s a five date when

German DAX closes at a record high for the third consecutive day The major European indices are closing mixed but well off the session lows. The German DAX is closing at a record high for the third consecutive day, but remains below its all-time intraday high of 15685.40 reached on Tuesday. The  closes are showing: