Technical Analysis

NZDUSD stays below the 100 hour moving average Yesterday, the RBNZ hiked rates by a greater than expected 50 basis points (est 25 bps) and the price for the NZDUSD initially spiked higher. However, after the NZDUSD price reached the 200 hour MA and the 200 day MA (green lines in the chart above), sellers

USDCHF moved up to the swing area and reversed The USDCHF moved up on the daily chart extending to a new high for the week in the process. However, that high moved into a swing area (see green numbered circles) between 0.93658 and 0.93822. The high reached 0.9373 and rotated back down. The last 5

The price of WTI crude oil is settling at $96.23. That is down $5.73 or -5.62% and is the lowest settle since March 16. The price low has moved to $95.90. The high was at $104.02. Worries about moves toward a recession on the back of tighter central bank policy (including the Fed) are weighing

I’m not going to draw any fancy lines on the chart but a glance at the monthly oil chart stands out because of the looming mirror image from April 2020, when prices went deeply negative only to leave a largely unchanged candle. This time it’s a different geopolitical event but much of the same look

NASDAQ index approaches its 100 day moving average The  Nasdaq  index is currently trading up 234 points or 1.63% at 14500. The high price reached 14591 so far. The index is working on its eight day higher in 11 trading days. Since bottoming on March 14, the index is up over 16%. The index is

AUD/JPY is modestly lower today in what would be the first daily decline after eight straight days of gains but it’s the weekly chart where I want to focus. It’s gone parabolic, adding 4% this week in the eighth consecutive week of gains. The rally this week blew through the 2017 high and is one

The USD is getting a boost higher against all the major currencies. The USD is the strongest of the majors. The USDJPY is trading to a new 6 year high and is the biggest mover with a 0.33% gain so far today. USDJPY. The  USDJPY  is trading to a new 6 year high (going back

EURGBP breaks to a new week high but fails The EURGBP fell lower ahead of the Bank of England decision, but after falling to its 200 hour moving average, the pair quickly reversed higher help by the more hesitant tightening from the central bank. The sharp move to the upside took the price back above

WTI crude oil The price of WTI  crude oil  futures settle at $109.33. That’s up $3.31 or 3.12% for the day. The high price this week reached $130.50 in the early hours of trading on Monday. The low price reached $103.63 on Wednesday. Last Friday, the price settle at $115.68. So for the week, the

The US major indices snapped a 4-day losing streak that saw high to low declines for the major indices over those days showing: Nasdaq -8.44% S&P, -5.86% Dow, -4.68% Russell 2000, 5.54% hundred Today, the major indices did a good job of erasing some of those declines. The final numbers are showing: Nasdaq index closed

AUDUSD moves away from 200 day MA again The AUDUSD has seen up and down volatility today. At the start of the day, the price moved lower and back below the 200 day MA at 0.7322. Yesterday, the price closed just above that moving average level. However, after stalling right around natural support at 0.7300,

Gold runs away from 100 hour MA The price of  gold  is trading to a new session high of $1935.21. The price trades just off that level at $1934.71. The price is currently up $25.87 or 1.35%. Looking at the hourly chart, the low price yesterday stalled near its rising 200 hour moving average (green

Gold is lower on the week  Gold  , like  crude oil  , is closing near unchanged/lower on the week despite mid week spikes on the back of the Russian invasion of Ukraine. The spike high in yesterday’s trading, saw the price move up to a high of $1974.40. That took the price to the highest

The WTI crude oil futures are settling at $90.21. That is up $0.17 or or 0.18%. That is for the April contract. The high for the day reached $91.07. The low extended to $87.46 The March contract settled at $91.07 down $0.69 on the day. A week ago, the price closed the day at $93.10.

US stock losses have accelerate to the downside into to the day close. Some of the negative highlights for the day. The Nasdaq is down near 2.8% S&P tech sector down near 3% The major indices are down for the week Dow has it’s worst day in 2022 Nvidia falls -7.5% AMD -4.47% Paypal -4.8%

The US major    indices  are closing sharply lower with the Nasdaq leading the way. The final numbers are showing: Dow fell -503.53 points or -1.43% at 34738.07 S&P fell -85.42 points or -1.90% at 4418.65    Nasdaq  fell -394.48 points or -2.78% at 13791.16 Russell 2000 fell -21.01 points or -1.02% at 2030.14 Some

The major US    indices  are all closing higher on the day and near session highs. The Dow is up for the third consecutive day The Russell 2000 is up for the fourth consecutive day the Dow is closing 2.8% from its record high close S&P is closing 4.4% from its record high close(4.8% from

USDCHF extends higher but stalls at the 50% of the wks range The USDCHF this week moved down on Monday, Tuesday, and Wednesday (3 straight down), consolidated up and down on Thursday, and corrected higher today. The move to the upside today extended above the 100 day MA in the early European session, and corrected