Technical Analysis

NZDUSD on the weekly chart The NZDUSD fell to the lowest level in 2022 this week at 0.5510. That is within 44 pips of the 2020 swing low at 0.54668. The price is currently at 0.5558 about 108 pips from the 2020 low all-time low. The 2020 low is the lowest level since March 2009.

EURUSD sellers in control The EURUSD is dipping to a new session low. In the process, the pair is testing the high of a swing area down to 0.9662 at 0.96836. The Monday lows were near that level as well. The 0.9662 is the low of what was swing lows going back to June to

The major US stock indices are still up on the week… The broader S&P and Nasdaq indices are both down over 2.2% on the day. The S&P is down -2.22%. The Nasdaq is down -2.85% That’s horrible. However, both indices still remain up on the week. Yahoo! Yippee! What a great starrt to October. A

Both the NASDAQ index and the Dow industrial average are both up back above their 200 week moving averages. The NASDAQ index 200 week moving averages near 11131 today. The current prices trading at 11151. The Dow industrial average 200 week moving averages at 29797.06. The current prices trading at 30194. Both the Dow industrial

GBPUSD back above 1.1100 The GBPUSD has seen more buying momentum in the early US trading session. The price has move back above the 1.1100 level. The price is trading above and below that natural support resistance level. The low for the week on Monday reached an all-time low of 1.03535. The high for the

The dollar is king with the EURUSD trading to the lowest level since 2002. The GBPUSD traded to the lowet level since 1985. The AUDUSD, NZDUSD and the NZDUSD traded to the lowest level since the 2020 pandemic plunge. Even the USDCHF rallied despite the 75 basis point hike. The USDJPY rebounded Friday and is

USDCAD corrects to an old swing area The USDCAD has been on a run to the upside with the pair up 6 of the last 8 trading days (with modest declines on the 2 down days). The price has moved from a low on September 13 at 1.2953. The high price today reached 1.3543 for

USDCHF stalls at the 200 hour MA The USDCHF has chopped higher in trading today. The pair started the day near a swing area at 0.9591 to 0.9606 after breaking back above the 100 hour MA yesterday and closing above. The low in the Asian session stalled the fall in the 0.9591 to 0.9606, moved

USDCAD ceiling stalls the rally today The USDCAD reached a high of 1.32072 on September 1, and 1.3208 on September 8. Today the high price on the hourly chart above reached 1.32054 a few pips short of the previous highs. The 3 week ceiling is being respected and as a result, the level increases in

It will be a close call but the Nasdaq is threatening to trace out an outside week on the weekly chart. We tracked lower on Tuesday in the appreviated week as part of a seven-day losing streak but we’ve had three strong days of gains since. That’s nearly traced an outside week. To complete it,

AUDUSD falls below the 50% midpoint The AUDUSD is losing ground to the downside and has now broken back below its 50% midpoint of the move up from the March 2020 pandemic shut-down low. That level comes in at 0.6756. The current prices trading at 0.6740. The low price reached 0.6737. Sellers are looking to

AUDUSD got within 14 pips of the 50% midpoint The AUDUSD moved to the lowest level since July 15 yesterday, and in the process got close to the 50% midpoint of the move up from the March 2020 low. That level comes in at 0.6756. The low price yesterday reached 0.67706 (got within 14 pips).

USDCHF tests a swing area and the 100 day/100H MAs The USDCHF has seen a move higher that extended the gains from Friday. The pair moved to the highest level since July 21 and above the 0.9700 level in the process. The price has rotated back to the downside with the decline moving back to

The Jackson Hole symposium is kicking off officially today. That means central bankers will be speaking. The course Fed chair Powell will be the highlight tomorrow when he addresses the attendees at 10 AM ET. So what levels are in play today? EURUSD trades back below the 100 hour MA after the “try” above failed.

Crude oil moves back to the 200 hour MA/midrange The price of crude oil shot higher as Europe was heading into their close. The price rise moved above the 200 hour MA and a topside trend line. The 38.2% of the move down from the July 29th high was tested near the $91.87. The high

The major US indices are lower to start the US trading day. S&P index tested its 200 day moving average yesterday The S&P index is lower for the 1st time in 4 days. Yesterday, the index tested its 200 day moving average currently at 4324.51. Sellers leaned against the level and closed below the key

The USDJPY continued it’s move higher today after reaching a low of 132.419 yesterday. That move took the price below a swing area between 132.24 and 132.479. However, when the price move back above the swing area during the US session yesterday, sellers turned buyers and that momentum has continued into today. In the morning

USDJPY is going nowhere, but it will at sometime The USDJPY is going nowhere. The range is only 53 pips which is well below the 22 day average of around 153 pips. Relatively speaking the price is non-trending. That dynamic could be good and is often good as non-trending transitions to trending. Putting it another