Technical Analysis

CFTC Commitments of Traders: Little changes in the futures net position data for the week 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 13, 2021 EUR long 67K vs 68K long last week.

Learn how to catch more trends by following that simple trading mantra [embedded content] Many traders look at sideways markets as a time to fall asleep and ignore that market or specific currency pair. In reality, there comes a time in the sideways markets, where you need to become uber aware of the price action. The reason? 

Nasdaq marginally lower. Dow leads The US stocks are opening with mixed results. The Dow is leading the way to the upside. The Nasdaq was marginally lower after the sharp rise yesterday. A snapshot of the market currently shows: S&P index up 9.79 points or 0.23% at 4180.21 Nasdaq down -25.279 points or -0.18% at 14013.48 Dow cyclicals are moving

AUD/USD pushes to fresh highs in over three weeks Invest in yourself. See our forex education hub. The pair is running with the upside momentum again after a slight pullback towards 0.7706-10 at the tail-end of Asia Pacific trading. The firmer risk mood to start European trading is helping somewhat, lifting AUD/USD to the highs

The USD is mixed with declines vs the commodity complex (CAD, AUD and NZD) As the North American session gets underway, the CAD is the strongest and the EUR is the weakest. The USD is mixed as the markets await retail sales (expected to rebound from Febs weather declines), Initial and continuing claims (have been

The 1.1987 to 1.1991 area stalls the rally.   Earlier today, the EURUSD found sellers against the 50% retracement and backed off a bit.  I wrote that traders – given the break outside of the non trend ranges at 1.19268, would eye the 1.1946 level (high from March 22) as close support. It held, the price

50% of the move down from the Feb high comes in at 1.19729 The EURUSD has moved modestly higher on the day after breaking above a topside trend line yesterday and a 65 or so pip range that confined trading for nearly 5 trading days.  The trend line was broken at 1.1915. The range was

Break outside consolidation area, has led to a run higher in the EURUSD The EURUSD was mired in a non-trending range and between trend lines early in the NY session. The CPI data sent the pair down to test a lower trend line but the price quickly moved higher.  The buyers and sellers were battling

J&J pause of vaccine sends stocks lower The JPY is the strongest and the CAD is the weakest as NA traders enter for the day.  The US has called for a pause on the J&P vaccine after clotting cases.  That has pushed stocks modestly into the red.  Yields are off their highs as well.  The

Holds gains on the day, but in a neutral area The GBPUSD opened the NY session with strong gains that took the price above its 100 hour MA.  However, for most of the NY session, the price corrected lower, falling back below the 100 hour MA currently at 1.3748.  On the way, the pair fell

The dollar gives it all back in European morning trade The greenback held a slight advance coming into the session but has seen that all slip away now in a relatively light and quiet start to the new week. There isn’t much of a catalyst with European equities little changed, US futures holding slightly lower,

Oil flat today I did a video recently where I talk about the importance of watching markets that aren’t moving and aren’t grabbing headlines. At the moment, that’s oil. WTI is flat today and looks like it will stack up another doji star on the chart. It’s normally one of the most-volatile assets but it’s

The low today stalled at swing area.  Price is between 100/200 hour MA The AUDUSD is stuck in a range (stuck in the mud) which has mostly been between 0.7577-87 on the downside, and 0.7653-63 on the topside.   The low today stalled at the upper end of the lower range at 0.75877. The high today

4 hour chart shows the progression lower. The USDCHF this week trended lower and along the way, cracked below some downside technical levels.    Looking at the 4-hour chart above, the price started the technical breaks below an upward sloping trend line, fell below the 100 bar MA  (blue line) and then the 200 bar

CFTC Commitments of Traders: EUR longs continue to get covered. JPY shorts remain steady 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 March 30, 2021 EUR long 68K vs 74K long last week. Longs

Nasdaq 1.9% from the all time high The major indices are all closing higher and near highs for the day/week. The S&P and Dow industrial average both closed at record highs. The NASDAQ index is just under 2% away from the all time high.   The major indices also closed higher for the week with the NASDAQ index leading the charge at

Double-bottom or double-top for gold? Invest in yourself. See our forex education hub. Gold has managed to pull itself higher in the past week or so, rising after testing the early March lows near $1,676 to push back to $1,750 levels yesterday. That had a hint of a double-bottom with a technical flip potentially targeting

Major indices close near highs for the day The major indices closed the day near record highs. The S&P is closing at a new record level. The Dow is closing about 24 points from its all time high at 33527.19.  The Nasdaq is still 1.89% from its all time high close at 14095.47 (the all