Technical Analysis

Test of 100 hour MA at the high, finds sellers. The USDCHF on the hourly chart below, shows an up and down kind of day. That is the reverse of yesterday’s day which saw the price first move lower, before snapback higher.   The run higher today reached up toward the 100 hour moving average and the 38.2% retracement

The NASDAQ back above its 200 hour moving average. S&P running away from its 50 day moving average The major US stock indices continue to move higher. With the S&P index up about 34 points or 0.77% at 4473. The NASDAQ index is up about 70 points or 0.48% at 14894. For the S&P index, it close

What are the charts saying for the major currency pairs. Heading into the new trading week, what key technical levels are in play that traders around the world will be watching (and why?).  Below are the stories….. EURUSD: The EURUSD traded to a a new low for the year this week taking out the October 6

Dow has a two day win streak two end the week The US stocks are closing higher across the board with the Dow industrial average leading the way with a gain over 1%. S&P and NASDAQ end the week with a three day winning streak Dow ends with a two day winning streak Dow is

German DAX tests its 100/50 day moving averages the major European indices are closing higher for the day and also closing higher for the week. The EuroStoxx 600 index rose by 2.6%. This was the best week since March.. UK’s FTSE 100 is trading at 7 month high. The German Dax test its 50 and

The key bias and technical levels for some of the major currency pairs The trading day is coming to an end with stocks moving sharply higher. That dynamic has the flow of funds into the “risk on” currencies including the NZD, CAD and AUD. Those three currencies are the strongest of the majors.  The biggest loser is the JPY followed

Price trades at the highest level since September 7th The AUDUSD has moved higher today despite a slightly weaker than expected jobs report in Australia.  The price of the pair drifted lower after the report, but did find support within a swing area between 0.73685 and 0.7375. The low price reached 0.73727 before starting its move back to

The 1.2422 area was swing lows from July 7, July 14 and July 30. Have not been there since. Back on July 6th, the USDCAD broke higher only to retrace to 1.24215 on July 7th.That level was later retested on July 14 and again on July 30th and each time the price bounced.  That was

First break since September 14 The EURUSD has made a break above the 200 hour MA at 1.1573 for the first time since September 14 (nearly a month ago). The price high reached 1.1578 so far on the break.   The question now is can the buyers keep control? Can they push the price higher?  The

Stocks struggle to move higher The US stocks could not sustain positive levels and drifted lower into US afternoon. The major indices are closing lower for the third consecutive day.   At the close, Apple announced that they would have to cut production of the iPhone due to chip crunch.  Apple shares are down -1.1% after the close.

The price is below the 200 hour MA and tests swing lows near 1.3567 The GBPUSD has seen volatile up and down trading action today. The early European session swing low came down to 1.3567. That was near the swing low from last Thursday’s trade at 1.3569. The bounce off that level took the price back

Stocks still off into the close The US stock indices sold off into the close and are closing near the low levels for the day. The Dow and S&P are lower for the 2nd consecutive day Utilities and Communications lag Materials and Real Estate lead A look at the indices at the close show: Dow -249.40

Yields not influenced by jobs data The US yields have not been influenced in a negative way by the lower nonfarm payroll data.  Nuances in the number and higher wages may be the counterbalance, along with expectations for a rebound next month.  The 10 year yield is up 3.6 basis points at 1.607%.  The five year yield is comfortably above

10 year up to 1.614%. The nUS 10 year yields continue to move higher with the 10 year now up to 1.614%. That’s up 4.3 basis points on the day.  The move higher is starting to hurt the NASDAQ index which is currently down -53 points or -0.37% at 14600.26. The USDJPY is also being impacted as

What’s next for the euro? Bank of America Global Research discusses EUR/USD technical outlook and sees a scope for a move towards 1.1495, ahead of 1.13s. “Euro has declined and broken below 4Q20 supports at 1.1603. Our modest bear case scenario estimates downside euro levels of 1.1495, 1.13s and possibly 1.1290. Should the decline accelerate

Up $1.05 or 1.34% The price of WTI crude oil futures are settling the day at $79.35. That’s up $1.05 or 1.34%.  The high for the day reached $80.11. The low for the day extended to $78.63. A week ago, the price settled at $75.88. With the price settling at $79.35 that’s a gain of 4.57% for

What to know from a technical perspective. EURUSD: The EURUSD is looking to close the week right around the 200 week moving average at 1.1570  after trading above and below that MA, and the 100 week MA at 1.1603. The current price is at 1.1570.   In the new week, those MAs will continue to be

NASDAQ index falls -0.5%. S&P and Dow marginally lower on the day The major US indices are closing the day lower. The declines snapped a three day win streak for the indices. Dow has best week since June Major indices all closed higher for the week S&P post the best week since August Energy and