Technical Analysis

USDCAD runs higher The USDCAD has spiked higher helped by: Lower oil. Crude oil is trading down $1.69 at $77.86. The high price was at $79.85 today Lower stocks. The major indices are all trading lower on the day with the NASDAQ down -0.80%. That has led to a move out of risk Higher yields.

EURUSD chops around near the middle of the range. The EURUSD is doing it’s pre-holiday thing…That is chopping around. Looking at the hourly chart, hopes were dashed yesterday fairly quickly when the price moved above the swing highs from Monday and Tuesday, but only by a few pips. Hopes were then dashed again when the

The EURUSD held above the 200 hour MA during 2 tests yesterday and again today. Then the level was broken and failed in each of the prior two hourly bars. EURUSD below 200 hour MA, but….. Now on yet another attempt, the MA is being broken with the pair moving to a new day low.

USDCHF between 100 and 200 hour MAs The USDCHF moved higher today and in the process moved up to test the 200 hour MA at 0.93362 (green line in the chart above). The price high reached 0.9335 and backed off. The current price is at 0.9322. Earlier today, the pair moved above the 100 hour

Microsoft failed at the 200 day MA Much of focus in the markets are interrelated. Stocks go higher, dollar moves lower, yields move lower, gold goes higher. That is the playbook. Then you look inside and see what you can see. Looking at a bellwether in the stock market, Microsoft, it gapped higher today and

USDJPY falls toward 50% midpoint The USDJPY is continuing the move to the downside. The pair reached a new low of 135.86. The price is down -0.50% and the biggest mover vs the USD in the early hours of trading. The move lower is running further away from the 100 hour MA (blue line in

WTI fell sharply today The price of WTI crude oil moved down to a new session low of $76.79. The high price was up nearly 6 dollars from the low at $82.70. The fall comes despite more relaxed covid policies in China, and the full European embargo of Russian oil and the price cap at

Crude oil backs off after run above mid November highs fails The price of WTI crude oil futures are settling at $81.22. That is up $0.67 or 0.83%. The high price extended all the way up to $83.32. The low price early in the show the session was at $79.95. Looking at the hourly chart,

The forex week ahead. A look a the risk and bias defining levels for the week starting November. The week ahead has as catalysts the US jobs report on Friday where the NFP is expected to add a less than trend 200K jobs. Before that the Fed Chair Powell will be speaking at the Brookings

USDCAD moves back between 100/200 hour MA The USDCAD has seen moves up and down today. The price started the day below the 100 hour moving average (blue line in the chart above), but failed as support buyers leaned near the 50% midpoint of the range over the last few weeks. Since that initial dip

EURUSD stays below 100 hour MA in the US session The EURUSD fell to a new low for the day taking out the early NY session low at 1.03255.The low just reached 1.03229. The US session high extended back toward the 100 hour MA. There were a couple of briefs look above the MA level

The price of crude oil moved higher on the back of the Russian missile that landed in Poland killing 2 people. The price of crude oil raced higher reaching $88.65. That was just above the 200 hour moving average at $88.63. The price has since rotated back to the downside currently trading at $87.52 up

The dollar index (DXY) is trading to a new low for the week at 106.369. The index is currently down -440 pips this week and is down -3.97%. That is the largest decline since March 2009 when the index fell around 4.10% on the week. The weekly chart below shows the pip change in the

The major indices are all in the black with the Dow leading the way to the upside. That index is leading the way with a gain of 1.30% or 422 points. The S&P is up 0.87%. The Nasdaq is lagging but still higher by 0.77%. Dow above the 200 day MA and tests 50% Looking

EURUSD falls back below trend line The EURUSD has moved back below the upward sloping trend line that currently cuts across at 0.9759. The low from earlier in the day remains intact at 0.9729, but sellers remain in control on the continuation break lower today. The fall below the 0.98056 to 0.9815 was a key

The median stock price prediction for Apple Inc. is set at $180, provided from 37 analysts who have provided price estimates for the next 12 months The highest Apple stock prediction is $200 and the lowest prediction is $122 Apple stock forecast from ForexLive.com, based on the following technical analysis video, is set at a

GBPUSD battle is ongoing w/ risk/bias defining levels defind The GBPUSD has tried on three runs to the upside today. The first in the early Asian session stalled against a downward sloping trend line on the hourly chart. The second move higher stalled near the high of a swing area between 1.1350 and 1.13835. The

The USD has moved lower helped by a rotation off the highs in US yields. That is helping to support US stocks which are trading higher on the day. In the US debt market: 2 year yield 4.573%, +2.2 basis points. The 2 year yield reached a high of 4.614% 10 year yield 4.142%, +1.5