Technical Analysis

What are the charts saying for the EURUSD  in the new trading week.  The EURUSD traded below the 200 week moving average over the prior 3 trading weeks.  Each of those weeks could not close below that MA level. In fact, the last 3 weeks closed between the 100 week MA above (blue line in

The USDJPY stalled near the swing high from November 2017 and rotated lower The USDJPY is closing the trading week at/near the week lows. That breaks a string of 5 straight higher weeks for the pair which saw the price move from 109.10 to the high this week at 114.69 (559 pips).  The high price

NASDAQ index lower for the second time in three trading days The S&P index snapped a seven day winning streak with a modest decline of around five points or -0.11%.  The Dow industrial average posts a record close and is up for the third day in a row. The Dow’s record close was the first

200 hour MA and 38.2% tested The GBPUSD fell on the back of the tough talk from the EU on Brexit. Adam is not too concerned about it (see post here), but its Friday. European traders are either out the door or near gone which decreases the liquidity. Finally, there was some technical reasons to

Throwing this open to the charting people and any remarks they may have on what appears to me to be a clear outside reversal day for AUD/USD: I stuck an arrow on it so there is no doubt which day I am referring to (if you are new to T/A): What Is an Outside Reversal?

The new high today stalled ahead of its 200 day moving average The AUDUSD move higher in the Asian session and in the process traded to the highest level since July 6. The high price reached 0.7544. That was short of the falling 200 day moving average at 0.75622. Recall that on Monday, the price moved above

NZD/JPY once paid 7% The days of carry are long gone but perhaps the run in NZD/JPY for the past two weeks reveals that they will soon return. The days of 7% carry in NZD/JPY are long gone but the persistent bid in the pair along with a broader reflationary narrative could continue to underpin

Looks to test the 61.8% of the 2021 trading range The NZDUSD is trading up for the sixth consecutive day today. The NZD is also the strongest of the majors today. Over that period the price has moved up nearly 300 pips.  The price moved above its 100 day moving average last Wednesday, and  Extended above its

Dollar keeps more mixed on the day so far Equities are tepid while bond yields are higher once again as we look towards European trading today, with commodity currencies holding a slight advance for now. US stocks advanced once again with the S&P 500 closing less than 1% away from its all-time high, as investors

Traders trying to keep below the MA level The GBPUSD is trading back below its 100 day moving average at 1.38074. The move below the moving average has seen the price moved down toward 1.3790. That is the low of a swing area between 1.3790 and 1.3800 going back to the first half of September (see

GBP/USD trades up to 1.3774, its highest since 17 September The pair is largely capitalising on the dollar’s recent weakness as it extends gains after a bit of a breather yesterday. The push higher today has already erased the declines to start the week as price climbs to its highest in over four weeks now.

High price from last week at 1.16238 eyed by traders The EURUSD is traded to a new session high at 1.16213. That has the price just below the high price from last week at 1.16238. As a review (see earlier post), the price declined in the Asian session but found key support against the 200 hour

Swing area between 0.7072 and 0.7077 The NZDUSD has continued its run to the upside which started on Wednesday near the 0.6908 floor from October 7, October 8 and October 11. The low price on Wednesday reached 0.69106, and bounced higher. Yesterday’s trading action saw the pair move above its 100 day moving average (currently at 0.70199 – see

Test of 100 hour MA at the high, finds sellers. The USDCHF on the hourly chart below, shows an up and down kind of day. That is the reverse of yesterday’s day which saw the price first move lower, before snapback higher.   The run higher today reached up toward the 100 hour moving average and the 38.2% retracement

The NASDAQ back above its 200 hour moving average. S&P running away from its 50 day moving average The major US stock indices continue to move higher. With the S&P index up about 34 points or 0.77% at 4473. The NASDAQ index is up about 70 points or 0.48% at 14894. For the S&P index, it close

What are the charts saying for the major currency pairs. Heading into the new trading week, what key technical levels are in play that traders around the world will be watching (and why?).  Below are the stories….. EURUSD: The EURUSD traded to a a new low for the year this week taking out the October 6

Dow has a two day win streak two end the week The US stocks are closing higher across the board with the Dow industrial average leading the way with a gain over 1%. S&P and NASDAQ end the week with a three day winning streak Dow ends with a two day winning streak Dow is

German DAX tests its 100/50 day moving averages the major European indices are closing higher for the day and also closing higher for the week. The EuroStoxx 600 index rose by 2.6%. This was the best week since March.. UK’s FTSE 100 is trading at 7 month high. The German Dax test its 50 and