Technical Analysis

NASDAQ has its best percentage gain since 2020 As trading in the US stocks has moved into the last hour, the NASDAQ index is currently leading the way with a 6.45% gain. That came represents the highest percentage gain since April 2, 2020 when the stock market was whipping back and forth with huge changes

The strongest to the weakest of the major currencies The trend from yesterday has continued today with the JPY the strongest of the major currencies . The USD is the weakest. The US CPI was weaker than expected yesterday (0.4% vs 0.6% est. for headline, and 0.3% vs 0.5% est. for the core), prompting a

EURUSD above 1.0300 The EURUSD is trading back above the 1.0300 level for the 1st time since August 12. On the topside, there is any upside swing area between 1.0339 and 1.03657 on the daily chart above. That area is the next upside target on further momentum (see green numbered circles). Above that and the

EURUSD on the 4- hour chart The EURUSD is consolidating the gains in the late London/early US session with the price moving above and below the 38.2% of the move down from the January 2022 high. That level comes in at 1.02841. The retracement level is bookended by a swing area between 1.0273 and 1.0293.

AUDUSD tests the key 100 day MA The AUDUSD is trading to a new high for the day and in the process is ticking closer to the falling 100 day MA at 0.67025. The last time the AUDUSD traded above its 100 day MA was back on August 15 in the midst of the summer

GBPUSD on the weekly chart The GBPUSD has seen the price move up 3.71% this week at current levels, which is the largest week gain going back to March 2020 covid lockdown. Looking at the weekly chart, the pair is trading in a swing area between 1.1759 to 1.1840. The high today has reached 1.17997

The dollar index (DXY) is trading to a new low for the week at 106.369. The index is currently down -440 pips this week and is down -3.97%. That is the largest decline since March 2009 when the index fell around 4.10% on the week. The weekly chart below shows the pip change in the

S&P trades to 4000 The S&P index has reached an intraday high at 4000.08. That is the first trade at that level since September 13. THe next target is the 61.8% of the move down from the August high at 4006.81. Above that and the key 200 day MA at 4081.08 will be eyed. For

WTI crude oil) on the day but lower for the week The price of WTI crude oil settles at $88.96. That was up $2.49 or 2.88% on the day. For the trading week, the price a week closed on Friday at $92.44. The price is down -3.75% on the week and was the first decline

RISK Or lack thereof, led to the demise of the FTX currency exchange last week. That story led to sharply lower digital currencies, including a 92% decline in the FTX token FTT. From an economic perspective, the US CPI proved to be the binary release that many thought it would be. The subsequent wave sent

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

USDJPY 200 day MA at 109.033 The USDJPY has moved to another intraday high and in the process is testing its 200 day MA at 109.033. The high price (bid side) has reached 109.035.  Can the buyers keep the upside momentum going? Close risk for the buyers is the old high for the day/month at

Major indices closed the day with modest gains The major European indices are starting the week with modest gains. The provisional closes are showing: German DAX, +0.49% France’s CAC, +0.3% UK’s FTSE 100, +0.2% Spain’s Ibex, unchanged Italy’s FTSE MIB, +0.4% in the European debt market, yields have climbed higher.   The France moved closer to the 0.0%

Cable moves to a high of 1.2849 on the day ForexLive There are whispers doing the rounds that Lib Dems and SNP may pivot to back an election now. However, without Labour support, I highly doubt the government has two-thirds majority to be able to get the votes they need later today. That said, the

6 days in a 51 pip trading range The week in the USDJPY has seen a high at 108.748 on Thursday. That took the price above a ceiling at 108.717. That break failed.   The pair had a low at 108.243. That was a break of the low from Monday at 108.276. That break also failed

The USDCHF runs higher today after holding support at the 200 hour MA and trend line The USDCHF has reached to new week highs in what has been a down and up session. The key for the pair was on the downside when the pair tested and held support at the 200 hour MA (green

Moves further away from the 200 hour MA In an earlier post, I outlined the move below the 200 hour MA (see post here).  Staying below would keep the sellers in control with the hopes for an extension of the days range and the low week’s trading range. We have now extended lower and test