Technical Analysis

The price of oil is settling at $76.84. That is up $0.62 or 0.81% on the day. The high price reached $77.29. The low price was at $75.93. For the trading week, the prices soared 6.27% which comes after a -7.35% decline last week, and a 6.5% rise the week before. So price action has

The USDJPY moved lower earlier in the day as yields dipped into negative territory. However, after falling below its 100-hour moving average, buyers did show up between the 100-day moving average at 147.597 and the 200-hour movie area at 147.675. The inability to move below those levels gave the buyers the go-ahead to move back

For those who have seen my daily posts/videos on the GBPUSD (any of them), the pair has been trading in an up-and-down trading range going back to December 14. That range is between 1.2600 and 1.2800. Today, the price moved sharply lower after the stronger US jobs report, and the price move to a lower

The broader US stock indices are getting it ahead of the earnings after the close including Microsoft and Alphabet. The NASDAQ index is leading the way with the decline of -124 points or -0.80% at 15504.51. The S&P index is now down -11 points or -0.22% at 4917.03. The Dow Industrial Average remains higher by

USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The US GDP beat expectations by a big margin. The latest US CPI slightly beat expectations but analysts expect the Core PCE to print at 0.2% M/M again

The price of WTI crude futures are settling at $75.19. That is up $1.78 or 2.42%. The high price reached $75.46. The low-price extended to $72.56. Domestically in the US, North Dakota oil output is estimated to decrease by 250,000 – 300,000 barrels per day due to cold weather conditions. The high-price today traded above

The EURUSD yesterday moved down to test its 200-day moving average at 1.0846. The low price reached 1.0842 before bouncing to the upside. The subsequent move to the upside yesterday and into the Asian session today sniffed its falling 100 hour moving average currently at 1.0905. However, it found willing sellers after the initial jobless

Crude oil futures falls from highs but find support at MAs Crude oil futures are settling at $72.68. That represents a gain of $0.66 or 0.92%. The high-priced extended to $75.25. The low price reached $72.36. The sharp rise to the upside was spurred on by the US and UK bombing of Houthi rebel in

The comments from NY Fed President were a bit more hawkish: Federal Reserve’s Monetary Policy Stance: Stresses the need for a restrictive policy stance for some time. Suggests the Fed can cut rates when confident that inflation is moving back to 2%. Reiterates that the Fed’s work to bring inflation back to 2% is not

The USDCAD has seen volatile up-and-down price action today. However, if there is a tilt, the tilt is to the upside as the price is above the 100-hour MA at 1.33214. Staying above that level going forward would keep the buyers more in control. Having said that, there is work to do for the buyers.

The USDs move higher today, has also included a downward run in the NZDUSD. As we head into the Asian-Pacific session, the pair is trading near session lows. It has also broken below the 38.2% retracement of the move up from the December low to the December high. That level comes in at 0.62595. Getting

SPX yearly Oh to have a time machine. A look at long-term US equities is a humbling exercise. The index started 1994 at 466, and while it suffered a loss that year, it has since risen 10-fold, paying dividends along the way. That’s an incredible 30-year return. Skip ahead to the final trading day of

USDCAD below the 100 week MA The USDCAD on the weekly chart is trading below its 100-week MA at 1.3278. A close below that MA would be the first since May 2022. That would be more bearish technically. Staying below keeps the sellers in firm control. Having said that the pair moved down to test

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The AUDUSD moved sharply higher the last two days and in the process moved above the 50% of the 2023 range at 0.67134 on both trading days. Both days also stalled at 0.6728. Buyers of the shot on a number of attempts above the 50% midpoint, and each time they missed. On the downside, the

US 2 year yield is trading at lowest level since June The US 2-year yield is now down -29 basis points at 4.439%. That is the lowest level since June and the largest one-day decline since March. Looking at the daily chart the prices approaching its 50% midpoint of the move up from the March

The price of WTI crude oil futures are settling the week at $71.23. That’s up $1.89 or 2.73%. Monday, Tuesday and Wednesday saw the price tumble from Friday’s close of $74.07 to a low-price reached yesterday (before rebounding) at $68.80. The rebound today retraced some of the declines. However, for the week, the price is

The NZDUSD on Monday peaked right near the high from the last time the price was at the levels on July 31 near 0.6221 (see blue numbered circle on the chart below). NZDUSD falls to test support swing era Willing sellers in the NZDUSD leaned against the level and have since pushed the price lower