Technical Analysis

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

At the end of last week a handful of charts were looking grim, pointing to the potential for an ugly turn in risk trades, prompted by a surprisingly dovish message from Fed Chair Jerome Powell. This week though, there have been some stark turnarounds, potentially invalidating the moves. I want to highlight three. 1) AUD/USD

EURUSD keeps the seller in firm control The EURUSD is looking to go into the weekend with the bearish bias intact. Looking at the four hour chart above, the pair fell below the low from 2021 (from November) during yesterday’s trade at 1.11853. The corrective move off of the low today at 11207 could only

USDJPY trades up and down in a confined range The USDJPY has seen more up and down price action today continuing the price action seen on Friday. The pair did move below the low from Friday’s trade, but found support near the low from January 14 at 113.474. It dipped briefly below the level to

The major indices gave up solid gains on the day and are closing at the lows for the second consecutive day. The NASDAQ index and Russell 2000 were the worst performers as investors rushed for the exits.. The Dow industrial average gave up a 462 point gain and is closing down -313 points. The S&P

EURUSD on the 4-hour chart The EURUSD moved lower and lower today. In the process, the pair moved below what was a swing area going back to November. That area held earlier in the week. Moving below, increased the bearish bias and kicked the price lower. Looking at the 5 minute chart below, the move

In an earlier post(s), I was targeting the 50% of the move down from the October 28 high. That was the corrective high from that day and started the sharp move to the downside that bottomed on November 24th. The midpoint was at 1.14385 (see last post here). The price has reached that target and

USDCHF is testing its 38.2% retracement and 100 hour MA The USDCHF is testing the 100 hour MA and the 38.2% of the move up from the December 31 low at 0.9182 area. The low price just reached 0.9183. A move below the 100 hour moving average and the 38.2% retracement, would increase the bearish

The US major stock indices are closing mixed: The Dow industrial average is closing up 214.57 points or 0.59% at 36799.64. That is a new record close. Intraday, the price it reached a new all-time record high 36934.84. The index has 2 record closes in 2022. The S&P index closed down -3.04 points or -0.06%

NZDUSD on the weekly chart The NZDUSD stepped lower in 2021 in choppy up and down trading. The moves to the downside came despite rate hikes by the Reserve Bank of New Zealand toward the later half of the year. The expectations are the central bank will look to continue that trend in 2022. Overall,

USDJPY trended higher in 2021 The year 2021 for the USDJPY can be characterized as a trend like move higher. The USDJPY pair had it’s low for the year on January 6th (the first week of the trading year) at 102.586. The high for the year (with a few days left to go) peaked at

The GBPUSD has trended lower in 2021 The EURUSD has seen the price move down in 2021. In fact the high for the week was reached in the first week of the year (on January 6) at 1.23488. The low for the week was reached toward the end of November at 1.11853 (on November 24).

Tentative moves in the markets today The GBP is the strongest and the EUR is the weakest as NA traders enter. The Eurogroup members failed to agree on financing for the unions fiscal response. The failure to agree is putting some pressure on the EUR today. The GBP is the strongest, but the gains are

EUR/USD falls back below the 25 February high to a low of 1.2233 The euro is struggling to build on upside momentum today and part of that reason may owe to a bit of mixed commentary by the ECB as of late. Panetta’s comments here isn’t getting much attention but it is worth taking note