Technical Analysis

NASDAQ index cracks below its 100 hour moving average The NASDAQ index is trading at new session lows, with the price reaching 11935.04. The current price stands at 11936.80, down -96 points or -0.80%. Technically, the decline has pushed the index below its rising 100-hour moving average, currently at 11961.50. This marks the first time

S&P 500 e-mini futures technical anaysis video and price forecast In the above video, I will discuss the recent bullish outlook on the S&P 500 E-mini Futures based on technical analysis. The price forecast indicates a minimum target of 4170 for this week, with potential for further growth. Let’s delve deeper into the key points

The price of WTI crude oil futures traded up and down in trading today. The high price reached $81.81. The low price extended to $79.61. Yesterday the price settled at $80.42. WTI crude oil trades between the 50% and 61.8% retracement Today the settled price is modestly higher at $80.71. That’s up $0.29 or 0.36%.

Today is quarter end. The USD is ending the quarter mixed with declines vs the EUR , GBP , CHF and CAD and gains vs the JPY, AUD and NZD. Below is a technical summary of the major pairs in what was an up and down quarter for all of the pairs. I also outline

The major US stock indices are closing mixed on the day. The Dow and the S&P are closing higher. The Nasdaq fell. Higher interest rates took some of the wind out of some of the high tech mega cap stocks which become a “safe haven” through the banking crisis. Energy, financials and industrials led the

EURUSD falls below 1.0866 The EURUSD moved to new session lows. The move to the downside picked up steam on the break below the swing area between 1.0866 to 1.0886. The price has moved to a low of 1.0823 and looks toward the 1.0800 area (1.0799 to 1.0805) as the next target (blue numbered circles).

First things first, what’s the deal with the rate hike? Well, investors are split on whether the Fed will implement a quarter-point hike or hit pause. The bond market gives a 65% probability to a quarter-point boost that will raise the Fed’s policy rate to 4.75%-5%. Traders have slashed the odds of a hike, but

WTI crude oil has rebounded 38.2% retracement The WTI crude oil futures price settled at $67.61, down $3.72 or 5.22%. Currently, the price hovers near $68, still significantly lower but recovering from the day’s low of $65.65. At that low, the price had dropped by $5.68, reaching its lowest point since early December 2021. Examining

The price of WTI crude futures are settling at $76.68. That’s up $0.96 or +1.27% The low today reach $74.77. The high extended to $77.11. The lower dollar/lower rates help to send the price back to the upside. Other commodities also gained with gold up $36 or 1.99%. Silver was up $0.42 or 2.13%. For

EURUSD continues to trend lower The EURUSD has a 148 pip trading range now. That is well above the 22 day average of 80 pips (about a month of trading). Technically, the price cracked below both the 200 hour MA and trend line support at 1.0613 soon after the Fed Chair prepared remarks. There was

The USDCHF is down testing the 200 hour MA The USDCHF has extended to a new session low and in the process is dipping below the rising 200 hour moving average at 0.93619. The low-priced has just reached 0.93584. The last time the USDCHF price traded below its 200 day moving average was back on

On the daily chart below, we can see that after the strong US PMIs the price has broken the key 1920 support level that was previously a strong resistance for the buyers. The moving averages have now crossed to the downside signalling a change in trend. The price has been consolidating just below the 1920

AUDUSD bounces off the 38.2% and back above 200 day MA In an earlier post on the AUDUSD (and in the video for the day), I spoke to the breaking of the 200 day MA and the next target at the 38.2% at 0.67798. Unfortunately for the sellers, the 38.2% stalled the fall. The low

USDCHF failed on the break higher today The USDCHF broke to the upside today extending above the topside swing area between 0.9278 and 0.9290. The break increased the buying momentum with the price extending to a higher 0.93308 before rotating back to the downside. After trying to hold support against the previous high from February

AUDUSD bounces off the swing area floor The AUDUSD trended lower in trading today and is the weakest of the majors. However, it has found some support in a swing area floor that has formed going back to early January (see red numbered circles). Looking at the hourly chart, that floor comes in between 0.68549

Crude oil moves close to 100 day MA The price of WTI crude oil futures are selling at $79.72. That’s up $1.66 or 2.13% The high price reached $80.33. That was the highest level since January 30. The low price was at $77.47. For the week, crude oil is up $6.94 or 8.49%. Ever since

The initial reaction was to the downside at the start/beginning of the Chair Powell Q&A. Then the dollars started to revert back higher after Powell said they may have take the terminal rate higher. Stocks reversed. US yields moved back higher. The dollar moved higher as well EURUSD: The rise in the EURUSD moved back

The major US stock indices are ending lower on the day led by the NASDAQ index with a decline of about -1.6%. However, that comes after some pretty strong gains including a 3.25% gain yesterday. The final numbers are showing: Dow Industrial Average fell -127.93 points or -0.38% at 33926.00 S&P index fell -43.26 points