Technical Analysis

EURUSD rises to topside resistance area The EURUSD raced higher today and in the process moved up to test the old low of a swing area going back to July/August. That area comes in at 1.00958 and 1.0121. Looking at the daily chart the high price today reached 1.01128 and backed off. Going forward if

The major European indices are ending the day with solid gains. Italy’s FTSE MIB leads the charge. The German DAX, France’s CAC, and Spain’s Ibex all rose by 1.4% or greater as well. The major indices are also closing higher for the week despite the 75 basis point hike by the ECB. Looking at the

In this report, I look at some of the fundamental stories that are shaping the markets, and then look at the technical which have seen the start of a move lower in the USD. Can that shift continue this week? Fundamental review: Technical analysis by currency pair starting times on the video: ADVERTISEMENT – CONTINUE

It will be a close call but the Nasdaq is threatening to trace out an outside week on the weekly chart. We tracked lower on Tuesday in the appreviated week as part of a seven-day losing streak but we’ve had three strong days of gains since. That’s nearly traced an outside week. To complete it,

Both the S&P index and NASDAQ index are trading to new session highs. In the process, they are also breaking above their 100 hour moving averages. Looking at the S&P index, the 100 hour moving average comes in at 4045.94. The 38.2% retracement comes in at 4054.27. Both are being broken with the index currently

Where is this stock market going next? I look at the S&P 500 emini futures, and state my personal opinion on where the market is going next. I think we are going up. I show where my next junctions are, and at what price I would change my mind. Due to the natural correlations between

The EURUSD moved lower on the news that the ECB would likely consider 75 bps at the October meeting. That meeting is still a ways away, but the “sources” comments highlighted that possibility. The 200 and 100 hour MAs were broken in the process (green and blue lines). However, after bouncing higher and stalling at

GBPUSD tests the pandemic low The GBPUSD continued its wander to the downside today and and in the process got within 5 pips of the March 2020 low at 1.1408. The risk focuces trader have leaned against the level and ther has been a modest bounce. The pair currently trades at 1.1427. What would a

USDCHF looks for its shove higher for lower The USDCHF moved to a new high and in the process extended to a new high going for the month and going back to July 14. However, momentum could not be sustained and the price moved back to the downside. A ceiling is now between 0.9860 and

USDCAD await for the next shove The USDCAD remains within the close technical borders with the high at 1.32072 holding resistance and the 100 hour moving average (blue line in the chart above) at 1.31462 holding support. The current price trades between the levels of 1.31817. Traders are looking for the next shove either to

USDJPY saw some selling, but work to do. The USDJPY has a chink in the bullish trend move armor. You have to go the 5 minute chart to find it, but for traders it showed a modest win for sellers. More specifically, the pair moved below the 100 bar MA on the 5 minute chart

EURUSD runs above the 200 hour MA The EURUSD has now moved above the 200 hour MA and a topside trend line after breaking above the 100 hour MA earlier and basing against that risk defining level over the last few hours of trading. The price moved briefly above that 200 MA yesterday, only to

EURUSD takes a step above the 100 hour MA The EURUSD has moved above the 100 hour MA at 0.99351 (see blue line in the chart above). Getting above (and staying above) is a short term positive for the pair. On the topside, the 0.99515 level is the old July low that is so far

NASDAQ index is moving higher for the 1st time in 7 days The NASDAQ index is on pace to snap its 7 day decline. The stock is currently up 182 points or 1.58% at 11727. The 7 day decline saw the price moved down from the high to the low yesterday of -9.36%. Since peaking

GBPUSD retest its 100 hour moving average The GBPUSD has rebounded and in the process has returned to the highs for the day, and also erased the declines for the day. In addition the pair is retesting its 100 hour moving average 1.1520. On its way higher, the pair moved back above a swing area

Crude oil futures closing at the lowest level since January The price of WTI crude oil futures are settling at $81.94. That’s down -$4.94 or -5.69%. The close is the lowest since January 13, 2022 and down 36.85% from its March 8 high. The closing level on December 31 for the continuous contract was and

The 100 hour MA was busted. Now the 200 hour MA targeted The USDCAD did in fact extend above the 100 hour MA at 1.3067 and has now moved up to test the 200 hour MA at 1.30907.  The high just reached 1.30903 and sellers have leaned on the first look. The price moves back

Provisional closes for October 29, 2019 the major European stock indices are ending the session with mixed results. German DAX, unchanged France’s CAC, +0.1% UK’s FTSE 100, -0.4% Spain’s Ibex, -0.5% Italy’s FTSE MIB, unchanged In  the European debt market, the benchmark 10 year yields are ending lower on the day with declines between -0.8 basis points and