Technical Analysis

EURUSD moves above swing area. Stay above is bullish. The EURUSD is trading to a new session high as European traders look to exit for the day. The price has now moved above a swing area between 1.09618 and 1.09759 (see red numbered circles). That swing area has been defined going back to June 16.

The USD started the day as the weakest of the major currencies. That is no longer the case as stronger data has set the yield racing to the upside. The 2 year yield is now up 14 basis points while the 10 year is up 12.6 basis points. The USD is making new highs for

USDJPY tests 100 hour MA. Short term barometer. The USDJPY moved lower today, coming off the boil a bit (see videos here and here).The drift lower started against a channel trend line against swing highs from this week (green numbered circles). The lows have inched below the lower channel trend line but stalled ahead of

The USDCHF has been trading in a fairly narrow trading range over the last 8-9 trading days. The low has come in just above the 0.8900 level at 0.8901. The high price reached 0.90129. So 112 pips have confined the pair. Sitting between those extremes is the near-converged 100 and 200-hour moving averages currently at

The USDJPY has moved higher (lower JPY) despite higher inflation data out of Japan today. USDJPY on daily chart breaks higher The move higher this week was kickstarted yesterday after the pair broke above a swing area between 142.24 and 142.49. The price also moved above the 61.8% retracement level of the move down from

The USDCAD last week fell below a key swing area on the daily chart (see chart below). That area came between 1.3207 and 1.32299. However, momentum could not be sustained, and in trading today the price has moved higher and above the high of the swing area. USDCAD on the daily chart Drilling down to

As the clock ticks to the weekend, what are key levels in play and why now and heading into to the new trading week for the GBPUSD? This week, the price of the GBPUSD moved above the 61.8% of the move down from the 2021 high to the 2022 low. That level comes in at

USDCHF bases near the 100 hour MA and races higher The USDCHF is up about 0.66% today, trading in the current hourly bar to a new session high at 0.91013. The moves is short of the high from Wednesday and Thursday near 0.91069 and also the important 100-day MA at 0.91173. The price did move

The AUDUSD is up testing the high from yesterday’s trading at 0.6717. The high price just reached 0.67149 after breaking back above its 200-day moving average of 0.66907. AUDUSD retests the high from yesterday Recall from yesterday, the price action continued its run to the upside after the surprise rate hike on Tuesday but failed

As we continue to explore the financial landscape of 2023, the spotlight remains firmly on the S&P 500. In this condensed follow-up to our previous analysis, we’ll take a unique approach to predicting this market’s trajectory, focusing specifically on the 4400 key level. Revisiting Our Previous Forecast In our earlier article, we delved into an

USDCAD below the 100 hour moving average The better-than-expected Canada GDP brings the Bank of Canada back in play after their conditional pause in rate hike’s. That has the USDCAD moving lower. Technically, the price just broke below its 100 hour moving average at 1.3612. The current price trades at 1.3608. On the downside a

NZDUSD tumble lower this week The NZDUSD has tumbled 3.6% this week with the last 4 trading days to the downside. That is the biggest move lower since September 19, 2022. This week, the RBNZ raise rates by 25 basis points, but the hike was considered dovish as signals of a pause surprised the market.

USDCAD trades above 100/200 hour MA The USDCAD pair has been fluctuating and is moving back towards its daily low, inching closer to a critical confluence of support defined by several key metrics: a 100-hour moving average of 1.34918, a 50% retracement of the range since April 28 high at 1.34905, and a 200-hour moving

USDJPY above the 2023 old highs and the 200 day MA. Bullish. The USDJPY is reversing back to the upside helped by higher rates. The 2-year yield is up 7.1 basis points to 4.34%. The 10-year is up 6.7 basis points 3.714%. Technically, the price is also being supported by the inability to move back

NZDUSD takes some of the oversold out of market. What next? The NZDUSD experienced a sharp decline for two consecutive days (on Thursday and Friday last week), having reached its peak during last Thursday’s Asian trading session. The downward momentum was initiated technically by the pair’s dip below a rising trend line and the 100-hour

GBPUSD falls sharply The Bank of England raise rates by 25 basis points to 4.5% which was as expected. The price initially moved to the upside with the high price reaching 1.2614. That was about 6 pips short of the following 100 are moving average 1.2620 at the time (the current 100 are moving averages

S&P 500 E-mini Futures Weekly Technical Analysis: A Simplified View In this technical analysis of the S&P 500 E-mini futures , we focus on the weekly timeframe to provide a clear and simplified picture without using numerous indicators. The aim is to decrypt the story the S&P 500 is telling and identify potential entry points

GBPJPY failed on the break to new highs going to 2016 The GBPJPY has moved lower today, after the high today took out the high from October 2022, and traded to the highest level since 2016, but quickly failed. The high from 2022 reached 172.118. The high from today reached 172.314. However, momentum stalled and