Technical Analysis

Today, China cut the time inbound visitors have to stay in quarantine from 3 weeks to 10 days. This sign of easing is positive for the Chinese stock market The CSI 300 index is one of China’s most watched stock market indices. It follows 300 large and medium-sized stocks in Shanghai and Shenzhen The chinese

Visitors to Macau casinos are expected to rise and Las Vegas Sands (stock ticker: LVS) presents a very interesting reward vs risk opportunity for the long term buyer LVS stock seems to be rising from the bottom of a range going back to 2015 This stock buying opportunity is worth a consideration, especially in light

USD/CAD fell 21 pips to 1.2875 as the rebound in oil prices continued. The US dollar was mixed as high yields and good economic data competed with end-of-month flows into some beaten-down currencies. The main feature on the USD/CAD chat is the double top at 1.3077/79. The declines in the past two days emphasize that

Get the  Technical Analysis  for FedEx Stock (FDX) in 2 minutes FDX is inside a potential bull flag. Bullish flag formations are effective continuation patterns in strong uptrends. The “pole” of the flag arises from a stock’s vertical increase; the “flag” is from consolidation (when the stock trades in a range, typically sideways to slightly

USDCAD holding near 100 hour moving average The  USDCAD  has dipped modestly on the higher CPI  inflation  and in the process took a peek below the 100 hour MA at 1.29683. The low price reached 1.2963, but has already moved back toward the pre-release level of 1.2978. Earlier today in the early Asian session, the

EURUSD was back above its 100 hour MA in up/down trading The EURUSD is mired in another rangy trading day. The price action yesterday was up and back down. Today it was down and now back up. On Monday, the price action was up and down. So the pattern is showing apprehension toward a directional

USDJPY retraces gains Yesterday, the USDJPY rallied once again and in the process broke above the June 14 high of 135.579. That move took the price to the highest level going back to September 1998 – nearly 24 years ago. The high price closed the day near the high for the day at 136.70. A

The yields in the US have taken another step to the downside as Powell speaks to demand destruction. The 2 year yield is now down about -12 basis points. The 10 year is also lower by about the same -12 basis points. Looking at the chart of the 2 year yield, the yield has now

EURUSD extends above the 50% midpoint. Now close risk. The  EURUSD  moved above the swing area new 1.0545 and approached the 50% midpoint of the move down from the May 30 high. Sellers initially leaned against that level, but after backing off on the 1st test of the retracement level, the price based and moved

The group of the Canadian, Australian and New Zealand dollar sits precariously close to the extremes of the recent ranges. There is the potential for double bottoms in all three but the price action today suggests little appetite to buy the trio as recessionary worries spread. Copper prices are the lows of the year, Australian

Oil prices are down more than $4 today but the loonie is keeping pace with the US dollar. USD/CAD is flat at 1.2919. The high last week was 1.3079, which basically matches the May high and threatens a double top. The loonie has held up well this year in large part due to oil and

Crude oil trades above and below the 100 day MA The price of WTI crude oil futures are settling at $106.19. That’s down $3.33 or -3.04% The high price reached $109.76. The low reached $101.53. The settle is near the middle of that range. Looking at the daily chart, the price moved below the 100

GBPUSD moves up to test its 50% retracement The  GBPUSD  – like other pairs – has seen a run lower and move back higher helped by the Fed chair comments. The move back to the upside has taken the price back above the 200 and 100 hour moving averages at 1.2212 and 1.2262 respectively. The

USDJPY trades to a new session high The  USDJPY  has kept the bullish run to the upside going with a move to 136.615. As outlined in the earlier post, a topside trend line connecting recent highs cuts across now near 136.93 (and moving higher). That is the next upside target for the pair. Move to

EURUSD tries to build to the upside The  EURUSD  is trying to build another upside move today. The price action in the Asian session moved back above its 200 hour moving average (green line). That is nothing new over the last few days as the price traded above that moving average on Thursday last week,

USDCAD holds support on the dip today. The USDCAD is modestly lower today after peaking near the May 2022 high on Friday (highest level since November 2020). The price action today has seen a continuation of the move lower. The pair has moved below the swing high from last Wednesday and the down to a

EURUSD trades above and below its 200 hour moving average The EURUSD is higher on the day, moving off an Asian session low at 1.04733. The high price extended to 1.05454 in the European morning session. Looking at the hourly chart, the price moved to the upside was able to extend above its 200 hour

The GBPUSD tilts to the downside The  GBPUSD  rallied strongly yesterday. The BOE did raise rates by 25 basis points as expected. Weaker US data also contributed to a sharp move to the upside from a fundamental perspective. Technically yesterday, the price stepped above its 100 hour moving average (blue line, then above a ceiling