Technical Analysis

USDCHF falls toward the 200 hour MA The USDCHF is moving to a new session low and at the lowest level since Monday. The 200 hour moving average is being approach at 0.95907. That moving average is near a low swing area between 0.9591 and 0.96046 (see renumbered circles). A move below that level would

Crypto shorts should probably cover here, as ETHUSD is at $1500, and possibly enter again if price closes a 4hr or daily candle below the presented channel, and previously broken bull flag, now being retested for the 2nd time. Traders that are trading Ethereum or any other crypto, should be very minded to what the

NASDAQ is back below its 200 hour moving average The major US indices are lower and that move has now pushed the tech heavy NASDAQ index back below its 200 hour moving average of 12425.85. The low rached 12374.13. The current price is at 12399.22. Stay below would tilt the bias more to the downside.

USDCAD runs higher with the dollar buying The USDCAD has seen a run higher along with the general dollar buying trend today afterFed Chair Powell’ Jackson Hole speech. The pair – after dipping toward the low from yesterday, and the 50% of the recent trading range after the better than expected core PCE data –

NZDUSD moves to a new low going back to July 19 The NZDUSD – like other pairs – saw dollar selling after the core PCE data – take the pair move up to test the 200 hour MA. Sellers leaned keeping the pair steady. Chair Powell came along and the comments caught hawks attention today.

EURUSD moves back toward 100 hour MA The EURUSD is lower, but is still above the low for the day and the 100 hour MA. The current price is at 0.9977. The low for the day reached 0.99459. That took the price briefly below the 0.99515 level which was the low from July 14 low.

USDJPY retests the 100 hour MA The US 10 year yield is back up near highs at 3.128%. That level was the highest since June 29th. The current yield is an 3.108%. That is unchanged on the day. The low reached 3.072%. The move off the low has the USDJPY retesting its 100 hour moving

USDCHF stays within the up and down range The USDCHF fell below the 100 hour MA and the rising trend line earlier today, but could not get to the next target at the swing area between 0.9591 to 0.9604. Yesterday and on Tuesday, the price did move closer to those levels and found buyers. ON

The following Nasdaq technical analysis shows my slightly bullish bias, and a Long trade, with its stop loss and take profit target It seems to me that Nasdaq futures is eyeing the 13000 round number again, where partial profit can be taken on the Long trade My stop is far and well below the recent

The major European indices are closing with mixed results. The gains and losses are showing: German DAX, +33.7 points or 0.26% France’s CAC, +30.09 points or +0.47% UK’s FTSE 100 -12.25 points or -0.16% Spain’s Ibex -13.10 points or -0.16% Italy’s FTSE MIB +68 points or 0.31% France’s CAC falls to the 100 day MA

The declines in the USD are being whittled away as yields move back higher. The US 2 year auction was dismal with little in the way of domestic or international demand. The Jackson Hole Symposium may be weighing on the minds of investors. Sale of 2 year notes are generally not a problem, even though

NASDAQ index rebounds modestly The flesh PMI data was much weaker than expectations. New home sales and Richmond Fed also came in weaker while consumer confidence flash estimate was negative but not as weak as expectations. The weaker data has helped to send yields lower. The two year yield is down -6.9 basis points at

The USD is making new highs as London/European traders exit for the day. Apart from the AUDUSD, the other major currencies are trading at new session high. The EURUSD is breaking below its 2022 low price and 0.99515. The low price reached 0.99269 so far. The current prices trading at 0.9932 just above that level.

The strongest to weakest of the major currencies The AUD is the strongest and the EUR is the weakest as the NA session begins. Both those currencies were at the bottom when ranking the strongest to weakest for the trading week last week. Today, they area enjoying a rebound of their fortunes. For the AUDUSD

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GBPUSD falls to the lowest level since July 14 The GBPUSD moved to a new session low as London/European traders look to exit. The price extended to a low of 1.17911, below the natural support at 1.1800 and a swing area going back to mid July between 1.1802 and 1.1807. The price has rebounded back

USDCHF races higher. The USDCHF has moved up on each of the trading day’s this week. That move took the price from a London low at 0.9400 to the high today at 0.95968 for a low to high range of 197 pips or 2.08%. Looking at the daily chart, the USDCHF has seen a number

Nasdaq moves below 100 hour MA The NASDAQ index is making a new low for the day at 12682.72. Sellers took the price away from its 100 hour moving average 12765.99 today and have been able to stay below over the 5 hours. Stay below that 100 hour moving average keeps the bears in control.