Technical Analysis

Will the sellers push lower now? The USDJPY on Friday and again today, moved above the 100 hour moving average on a number of hourly bars (10 to be exact).  Of those 10, two of them closed above the MA, only to have the price rotate back below (and close below), and the very next hourly bar.   The

US stocks continue to move higher helping risk on flows The AUDUSD is trading to a new session high and in the process tests its 200/100 hour MAs. Both those moving averages are near converged near 0.7754. The high price of just reached 0.77524.  Also near the area is a old trendline (see green numbered circles).  That trendline was broken on

The 100 hour MA comes in at 0.8998 The USDCHF traded to the lowest level since February 24 today after taking out the low from Tuesday’s trade at 0.89597. However, the moves below that low (there were 2), both failed today (the lowest low reached 0.89531).  After the 2nd failed run below the Tuesday low, the sellers turned buyers and was

UK FTSE 100 lower on the week The European major indices are ending the day mostly higher.  The snapshot of the provisional closes are showing: German DAX, +0.4% France’s CAC, +0.7% UK FTSE 100 , flat Spain’s Ibex, +0.8% Italy’s FTSE MIB, +1.0% For the week, the UK FTSE 100 felt modestly. The other major indices were higher: German DAX, +0.14% France’s

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

NASDAQ index and S&P closes lower. The US stock indices are closed for the week. The NASDAQ index was the weakest of the majors today. The Dow industrial average closed higher. The S&P was marginally lower: NASDAQ index posts first weekly gain in five weeks NASDAQ post the fourth negative session in five Dow, S&P

Can the price remain below the MA line now? The price of the NZDUSD has been on a volatile ride today. In the Asian session, the price wanted to the downside but found support buying near the 100 day MA.   The moved to the upside in the European session took the price above its 100 and 200 hour moving averages

Nasdaq and S&P still remains lower on the month The major US indices are closing higher with the NASDAQ leading the charge.   All three major indices snapped three days losing streaks The Dow and S&P are on track for a weekly loss  NASDAQ is higher for the week and looking to close higher for the first time in

100 hour moving average above at 13496.41 (and moving lower) The NASDAQ index is up around 187 points or 1.41% at 13486.74. The high price just reached 13489.44.  The the price is now above the highs from yesterday (and the week).   Technically, the pair is moving up to a key resistance target against its 100 hour moving average (blue

US dollar moves higher after Fed minutes The USD has broken to new highs after the Fed minutes suggested might be time to think about tapering.   EURUSD: The EURUSD has moved to an through (at least temporarily), the swing highs from May 10 and May 11 between 1.2175 and 1.2181.  THe pair has fallen short of the 38.2% retracement of the

Low today stalls at a recent swing area and above the 100 day MA. Resistance at the 100 hour MA. The AUDUSD moved lower as “risk off” flows intensified as China impose restrictions on crypto.  The move lower in the London/European session saw the price move below the ports open trendline and broken 38.2% retracement near 0.7765, followed by the 100 hour moving

Major indices down for the second consecutive day The US stocks all close near session lows. The major indices are closing lower for the second consecutive day.  We have now seen three days down, two days up and the last two days lower in the major indices.   A look at the final numbers shows: S&P index -35.54

The low for the day finds buyers against lower channel trend line The USDCAD is bouncing and in the process has moved back above the swing low from last week at 1.20447.  Earlier today, the price cracked below that level and after creating a mini ceiling against the area, moved lower. The low for the day did find support buyers against

Russell 2000 closes higher Today was a day that could’ve been worse for the US stocks. The major indices are closed lower, but were well off the lows at the close. The Russell index of small-cap stocks closed marginally higher. The S&P index closes less than 2% from the all-time high. Dow, S&P and Nasdaq snap a today winning streak NASDAQ is

Extends toward a swing level at 1.2078. The USDCAD has fallen to a new session low on the day after finding sellers near a swing area between 1.21297 to 1.21355. Recall from last Thursday the price based at the 100 hour MA, moved through the 38.2% of the last move lower at 1.21617 and above

Bounce off the swing low target The USDCAD moved below the 100 hour MA at 1.21167 after the US retail sales and the better than expected wholesale sales from Canada. The next downside target at the time was at 1.20781. That was home to swing lows from May 10, May 11 and May 12 before

The recent swing high ceiling comes in between $1841.82 to $1845.44 The price of gold is trading up about $14.50 or 0.80% at $1841.24. That moves the price closer to the high for the day and also to the swing high ceiling seen over the last week or so between $1841.82 and $1845.45.  There were 4 consecutive

100 day MA is at 13438.47 currently The NASDAQ index continues its move to the upside and is currently trading up over 300 points or 2.3% at 13428.03 (that is the high). The last move to the upside took the price back above its 50 hour moving average currently at 13407.  The next target comes in at the 100