Technical Analysis

Can the buyers stay above 100 hour MA/old year high from earlier this month. The USDCHF broke above the March 9 high at 0.93748 (and the highest level going back to July 2020), on Thursday last week, and stayed above that level on Friday. The high reached to 0.94172, before selling back off into the

Looks to test 100 hour MA at 0.7635 The AUDUSD peaked this week at the converged 100/200 hour MAs at 0.7754. That high was on Monday. The next three days saw the price move below swing lows at 0.7699 on Tuesday. The price fell to the 100 day MA around the 0.7600 area on Wednesday

200 hour MA and 50% retracement The EURJPY raced higher today with the run higher in the JPY pairs.  The run to the upside was supported by technicals on the hourly chart that saw the pair extend above a number of swing lows and highs between 128.74 and 128.938. The price also cracked above its 100 hour

The NZDUSD is the biggest mover for the week with a 2.48% decline For the week, the USD is ending as the strongest of the majors, while the NZD is the weakest.   That makes the NZDUSD the biggest mover for the week. The NZDUSD fell 2.48%.  The next biggest mover was the GBPNZD which

CFTC Commitments of Traders: The JPY shorts increase. Coming Up! Title text for next article LON SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly forex futures positioning data for the CFTC for the week ending Tuesday, March 23, 2021 EUR long 93K vs 90K long last week. Longs increased by 3K GBP long 22K

NASDAQ down 5 of the last 6 trading weeks The major indices are closing higher and near the highs for the day as buyers push prices higher in the last hour of trading. Trading conditions were once again very choppy trading today suggestive of a market that continues to have ebbs and flows: Dow, S&P,

Nasdaq on track for first monthly loss since October The US major indices are opening modestly higher. The Dow needs way as bank stocks increase. The Fed said late yesterday that they would not the restricted as far as dividends starting in June.  The snapshot of the market currently shows: S&P index, +18.4 points or 0.47% at 3927.92 Nasdaq up 40.937 points or

Russell 2000  closes for the 1st time in 4 sessions The Dow, S&P and Nasdaq snapped a 2-day losing streak although the road traveled was not a straight lines and buyers and sellers battle it out. The Russell index was the biggest gainer on the day and snapped a three day losing streak  Dow had

Trades at lowest level since November 12 The EURUSD is trading lower for the 3rd day in a row. The price action is a little more choppy, but currently the price is down -4 pips at 1.1809. The low reached 1.1791.  The close from yesterday reached 1.1813.   Technically, the pair broke away from the 200

Dow turns negative at the close It was an ugly day for the NASDAQ index. It fell 2% on the day on a decline of 265.8 points. The S&P index and Dow were down more modestly but both closed at the session lows.  The declines today cannot be blamed on yields moving higher. The treasury curve is lower across the board with

Stay below the 200 day MA keeps the sellers in control The EURUSD moved below it’s 200 day MA late yesterday, and has been able to stay below today.  The MA comes in around 1.1852.  The high today was in the first hour at 1.1852.  Stay below will be the key barometer for the buyers

Coming into the close markets seeing moves. As the US day works toward the close, there are some moves in the major investment categories. Dollar.  The USD still remains below the JPY as the strongest of the major currencies, but continues to move to highs for the day. The dollar is trading at or near highs vs the EUR, GBP, CHF, CAD

NZD/JPY is down over 2% to 76.35 currently Invest in yourself. See our forex education hub. Much like how the technical picture in NZD/USD is looking poor, NZD/JPY is also not spared from that as the pair hints at a double top pattern around 79.00. The rejection there adding to the break of support below

Dow and S&P lag. Russell 2000 closes lower for the 2nd time in 3 days The NASDAQ close higher for the second consecutive day. It led the major indices higher with the S&P and Dow lagging well behind. The small-cap Russell 2000 index lags with a decline of -0.90%. The final numbers are showing: S&P index +27.48 points or 0.70% at

EUR/USD little changed at 1.1900 The dollar was bid earlier in the day as risk assets were rattled by the plunge in the Turkish lira at the open this week. USD/TRY gapped higher by 15% at 8.35 but has since settled into a “calmer” but still volatile range around 7.80 to 8.00 in the past

Trades to a new high for the day The Nasdaq index is trading to a new session high at 13209.52. That has also push the price back above its 100 hour moving average at 13203.708 currently.  Yesterday as the index plunged, the price move back below the 100 hour moving average.  The index moved to a new low going

Trades around 200 hour MA again The USDCAD peaked at 1.25474 recently and backed off. That hi was just short of the 50% midpoint of the move down from the March high the March low at the 1.25503 level.  Patient risk focused traders leaned against the level (risk could be defined and limited).    The price has moved back down toward

EURUSD makes a new week low but bounces The EURUSD made a new low in early NY trading after the Nasdaq made a new low in early trading.  SInce then, however, stocks rebounded with the S&P now in positive territory. THe NASDAQ moved up 0.8% (currently up 0.73%).  The EURUSD moved back above a swing area between 1.1881 and 1.18857 and continued their