Technical Analysis

Finds some sellers for now In the earlier EURUSD post I pegged the 1.2088-89 as a close intraday resistance level on a move higher. The level has stalled the rally (high came in at 1.20892).   There has been some modest selling off the level. It’s just a few pips (the price is down to around

USD/JPY is down for eleven consecutive days now As the saying goes, the trend is your friend — and that is rather apt for USD/JPY in April trading so far as the pair continues to climb down from its highs near 111.00 to just under 108.00 since the latter stages of last week. The pair

PM Trudeau calls COVID 19 situation critical. The USDCAD will sharply lower on Wednesday after the Bank of Canada announced that they would start to trim QE.  The pair moved from the week’s high (just before the rate decision on a squeeze higher) at 1.26529, to the week’s low two hours later at 1.24591. Since then the price has

EURGBP bounced off the 100/200 bar MA on the 4-hour chart The EURGBP is up trading near the high for the month of April at 0.87192. The high price reached 0.87172 today so far.   For the week, the price tumbled lower on Monday, but found support buyers near the 100/200 bar MA on the 4-hour

CFTC commitment of traders: Mixed changes for currency positions Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly forex futures positioning data for the CFTC for the week ending April 20, 2021 EUR long 81K vs 67K long last week. Longs increased by at 14 K GBP

Some late day profit-taking takes the S&P index back below the all-time high close The S&P reached an all time intraday high price of 4194.17. That took out the previous high of 4191.31. However some selling into the close push the index back down below the all-time high close of 4187.32.   The NASDAQ index rose by close to 200

Next week is a huge week for earnings The S&P index is trading at a new session high at 4184.97. That is up about 1.2% or 50 points on the day. The NASDAQ index is also soaring. It is currently up over 200 points or 1.49%.  Looking at the hourly chart of the S&P index, the price is

GBPUSD falls below 200 hour MA/50%  The GBPUSD fell below the 200 hour MA/50% retracement earlier in the session but rebounded higher. The last 2 hourly bars have move back below the MA (currently at 1.3843) and also closed below (at least the last hourly bar did). That is a more bearish tilt. The prior break could

Fibonacci retracements are the right tools after quick, one-way moves I highlighted the Fibonacci retracement levels in USD/CAD earlier today and that’s right where USD/CAD stalled out. The pair is now down 20 pips on the day a 50 pips these levels, trading at 1.2475 at the moment. The failure at the first Fibonacci test

Trades above and below unchanged over the last 5 or hours. The GBPUSD moved lower in early NY trading and in the process moved to test the 100 hour MA (blue line in the chart below).  Buyers leaned against the level and the price rotated higher. After moving back above the 1.39175 level, the dip

Up 1% on the day The CAD is the strongest of the major currencies today after the BOC rate statement. Looking at the % changes of the major currencies vs the loonie, the CADCHF is the biggest mover. The CADCHF has moved 1% higher on the day.   What does it look like on the chart?

Major indices down for the second straight day It’s not a good start to the week as the major indices closed for the second straight day. S&P index fell -28.3 to points or my 0.68% at 4134.93 NASDAQ index fell -128.49 points or -0.92% at 13786.27 Dow -256.27 points or -0.75% at 33821.36 After the close

The move back below the 100 hour MA hurts the bulls Earlier in the day, the AUDUSD held the 50% retracement of the last move higher from the low yesterday at 0.77604.  That kept the buyers in play.  The subsequent move below the level, however, saw the buyers turn to sellers, and on the break of the 100 hour MA (at 0.77475),

The dollar has been the weakest performer in April It hasn’t been a good month so far for the greenback as it is sold once again going into European morning trade today. The dollar is weaker across the board with more technical levels being breached at the moment before Europe enters the fray. Of note,

AUD/USD buyers look towards 0.7800 next The dollar is still seeing pressure across the board with USD/JPY falling to 108.04 and looks to threaten support at the 108.00 handle, which is helping to see other major currencies capitalise on the greenback’s decline so far on the session. AUD/USD is up 0.6% to 0.7780-85 currently and

Volatile up and down move in the USDCAD this week The USDCAD on Monday, opened and moved higher. That run, took the price back above a cluster of MAs near 1.2570 and up to a swing area at 1.2623 to 1.2628 (red numbered circles). The high extreme from March 30 reached 1.2646.  The high price

German Dax makes new all time highs The German Dax broke higher today and in the process moved to a new all time high at 15473.83.  The price of the index had been waffling up and down over the last 8 trading days in a non-trending market before breaking higher and running to the upside. 

Price trended higher this week. In my latest video, I focus on the non-trending nature of the AUDUSD and how it based and rocketed higher. You can see it HERE. The price moved up around 180 pips from the low in the NY session on Tuesday, and above 138  pips after the pair moved back