Technical Analysis

EURUSD falls below its 100 hour moving average The EURUSD is making a break below the rising 100 hour MA. That level comes in at 1.04948. The price is also dipping below the November highs that came in between 1.04806 and 1.0496. The low price just reached just reached a new session low 1.04768. So

GBPUSD tests 200 day/50% The GBPUSD ran higher toward the end of the London session and in the process extended above the London high at 1.22472 a new intraday high of 1.2272. The last two – three hours has seen a rotation back to the downside. That move has now seen the price extend below

NZDUSD daily This is an interesting chart today because NZD/USD has been a strong performer in the past month and highly correlated with stock markets. Today it ran into the August high and reversed, putting an outside day on the chart. It’s a real gut-check moment in markets today. Either the Fed scenario of a

WTI fell sharply today The price of WTI crude oil moved down to a new session low of $76.79. The high price was up nearly 6 dollars from the low at $82.70. The fall comes despite more relaxed covid policies in China, and the full European embargo of Russian oil and the price cap at

S&P index is back above its 200 day moving average The US stocks are recovering from their initial declines on the back of the stronger US jobs report. The S&P index is currently trading down -18.30 points or -0.45% at 4058.28. The low price reached 4026.63 (-49.95 points). The high price is up at 4063.81

Doge coin technical analysis and price forecast: From the peak in May 2021, Dogecoin has been in a strong bear market as market expectations of higher interest rates from the Fed to fight inflation forced buyers to rush for the exit. We’ve seen a general bear market for over a year in the cryptocurrency space

The USDs rise is being retraced as the stocks also rebound. The GBPUSD is ticked to a new session high. The Asian session high reached one point to 297. The high price just ticked to 1.22992 just short of the 1.2300 natural resistance level. Yesterday the high price reached 1.23082. Looking at the hourly chart,

Gold is trading near its 200 day moving average Gold has seen its price move lower on the back of the stronger than expected US jobs report and higher dollar. But as they dollars gains have been eroded, the price of gold has likewise seen a rebound back to the upside. The price has moved

The price of crude oil futures settled at $79.98. That is down -$1.24 or -1.53%. The OPEC+ meeting will take place virtually on Sunday. No change in production is expected. The price cap looks to be set at $60 for Russian oil The Russian sanctions will also go into effect cutting off all imports of

USDJPY rally stalled at the 38.2% retracement today As stocks moved back higher and yields moved lower, the US dollar is getting weaker.The USDJPY is back below its 200 day moving average of 134.506. Closing below the level today would be the first time the currency pair closed below that since February 23, 2021. The

Crude oil backs off after run above mid November highs fails The price of WTI crude oil futures are settling at $81.22. That is up $0.67 or 0.83%. The high price extended all the way up to $83.32. The low price early in the show the session was at $79.95. Looking at the hourly chart,

The major US indices are closing with mixed results: the Dow industrial average is closing lower by -193.25 points or -0.56% at 34396.52 the S&P index is down -3.33 points or -0.08% at 4076.78 the NASDAQ index is up 14.46 points or 0.13% at 1482.46 Russell 2000 is down 4.896 points or -0.26% at 1881.68

As US yields moved to the downside with the two-year down -5.4 basis points in the 10 year down -5.0 basis points (they were up earlier today), the US stocks have moved sharply to the upside. The gains are being led by the NASDAQ index which is up near 2.5%. The current price is up

S&P 500 with 200 day moving average Even the world’s least-technical traders need to know this chart right now and the importance of the 4050 level today. In August, the S&P 500 rallied to almost-precisely the 200-day moving average, which was then at 4326 before crumbling. The high that day was 4326.18 with the DMA

DXY bounces off a cluster of support Yesterday, the dollar index (DXY) moved to a low of 105.321. The 200 day moving average was at 105.374. The brief dipped below that moving average level was quickly bought. Also near the level is the 38.2% retracement of the move up from the May 25, 2021 low.

USDCAD takes a breather The USDCAD has raced higher in trading today and in the process really had limited corrective price action. There was a brief consolidation after the better-than-expected GDP, but it has been racing back to the upside over the last few hours. However, the last 20 minutes have seen a rotation to

The GBPUSD has moved down to retest the 100 hour MA, the high price from November 15 and the Asian session low. All those levels come in between 1.20247 and 1.2036. A move below that area would tilt the short term bias to the downside from a technical perspective, with more work to do for

You hate to see something rally to a five week high and then turnaround and close solidly negative. That’s what has happened in EUR/USD and it may be the trigger the bears are looking for. It marks an outside day out the daily chart and a sharp reversal. That’s an ugly pattern. The only caveat