Technical Analysis

USDCHF failed on the break higher today The USDCHF broke to the upside today extending above the topside swing area between 0.9278 and 0.9290. The break increased the buying momentum with the price extending to a higher 0.93308 before rotating back to the downside. After trying to hold support against the previous high from February

AUDUSD bounces off the swing area floor The AUDUSD trended lower in trading today and is the weakest of the majors. However, it has found some support in a swing area floor that has formed going back to early January (see red numbered circles). Looking at the hourly chart, that floor comes in between 0.68549

Crude oil moves close to 100 day MA The price of WTI crude oil futures are selling at $79.72. That’s up $1.66 or 2.13% The high price reached $80.33. That was the highest level since January 30. The low price was at $77.47. For the week, crude oil is up $6.94 or 8.49%. Ever since

The initial reaction was to the downside at the start/beginning of the Chair Powell Q&A. Then the dollars started to revert back higher after Powell said they may have take the terminal rate higher. Stocks reversed. US yields moved back higher. The dollar moved higher as well EURUSD: The rise in the EURUSD moved back

The major US stock indices are ending lower on the day led by the NASDAQ index with a decline of about -1.6%. However, that comes after some pretty strong gains including a 3.25% gain yesterday. The final numbers are showing: Dow Industrial Average fell -127.93 points or -0.38% at 33926.00 S&P index fell -43.26 points

The major US stock indices took a turn back to the downside and are closing the day near session lows Dow Industrial Average is down -260.42 points or -0.77% at 33717.69 S&P index is down -52.68 points or -1.29% at 4017.89 NASDAQ index is down -227.89 points or -1.96% at 11393.82 For the NASDAQ index,

We don’t often, if ever, look at yearly candles. A bigger view goes a long way in trying to forecast where we are and where the stock market is going till the end of 2023. If you are interesting in a unique angle to predicting where this market is headed, please do watch the video

Fed’s Waller was the last Fed official to speak before the blackout period for the Fed ahead of their interest rate decision. In his question and answer he broke down a wall that other Fed officials have been reluctant to do and it led to some added optimism in the US stock market to close

The USDCAD has continued it’s run to the upside after an early move above the 200 hour MA, ultimately led to the breaking above the confined range between 1.3344 and 1.3454 (110 pips – see red box in the chart below). USDCAD moves up to a cluster of resistance The momentum higher has now taken

gold daily chart The gold bulls are certainly having a moment. At the start of December, as I always do, I highlighted the seasonal trend towards higher gold. Once again, it worked and remains the single-best seasonal trade I know of. It’s been a ticket to start the year off with a solid gain forever.

The major US stock indices are picking up some steam to the upside. The major indices are near their highs on the day. A snapshot of the market currently shows: Dow Industrial Average up 128 points or 0.3% at 33645.52 S&P index of 21.96 points or 0.56% 3914 NASDAQ index up 90.78 points or 0.85%

The US major indices are closing higher on the day and for the week. All the major indices are closing with gains over 2% on the day. For the week the gains are from around 1% to 1.5% for the major indices. The final numbers are showing: Dow industrial average rose 700.53 points o 2.13%

Technical analysis of Bitcoin evaluates the crypto king by assessing previous prices and volume. Technical analysts don’t analyze a security’s inherent worth, but instead utilize charts and other tools to uncover trends. Technical analysis also uses patterns to predict future price changes. These patterns may be bullish, bearish, or neutral, indicating a price increase, decrease,

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