Technical Analysis

GBPJPY on the hourly chart Yesterday, I posted about the    GBPJPY  . The pair had continued to find support against a floor at the 155.39 to 155.44 area, but also found resistance against the falling 100 hour moving average (blue line in the chart above). Something had to eventually give, and that was the

The price of WTI crude oil futures are settling at $85.14 to end the trading week. That is down $0.41 or -0.48% on the day. The high price reached $85.56. The low reached $82.78. The high prices reach reached $87.10. The low for the week was on Monday at $81.58. The high price was a

USDCAD buyers take the price above a cluster of MAs today The USDCAD buyers are making a play today. Here are the technical reasons: The price low yesterday stalled ahead of the price low from Wednesday. The low reached 1.2452. The low from Wednesday’s trade reached 1.24476. Moreover the low from yesterday was near the

The major indices gave up solid gains on the day and are closing at the lows for the second consecutive day. The NASDAQ index and Russell 2000 were the worst performers as investors rushed for the exits.. The Dow industrial average gave up a 462 point gain and is closing down -313 points. The S&P

The GBPJPY trades between floor and MA ceiling Yesterday in a post I outlined the resistance against the 100 hour moving average and a floor being established on the downside (see post here). Today, the GBPJPY is continuing to hold support at the floor between 155.39 to 155.44. That low was first made on Friday.

GBPJPY stalls against its 100 hour moving average The GBOJPY pair has been moving up and down in trading today. On the downside, the low did take out the lows from yesterday and on Friday near 155.44. However the low could only reach 155.39 before reversing and heading back higher. The run to the upside

The price of crude oil continues it’s move to the upside with the price moving to high of $87.90. The price is off that high at $87.18, but is still up solidly on the day (up 1.99% at $87.19). The March contract is up 1.59% at $86.37. Crude oil on the daily chart Looking at

AUDUSD on the hourly chart The AUSUSD in the Asian session based against a swing area (see green numbered circle 8) and moved higher into another swing area (see red numbered circle 9). That high upper swing area stalled the rally and the price moved sharply to the downside. After a corrective move back to

The major indices remain sharply lower with the Dow industrial average down -582 points or -1.62%, the S&P down -80.12 points or -1.72%, and the NASDAQ index down -308 points or -2.07% NASDAQ on track to close below its 200 day moving average For the NASDAQ, it is moving away from its 200 day moving

It’s been a one-way trade in oil since the spike down to $66 in early December but we’re now testing a big resistance level. Brent touched $86.71 today, which is a cent higher than the October high of $86.70, but we’ll call it even since it’s now back to $86.58. What’s more is that the

AUDUSD on the hourly chart The AUDUSD moved higher this week after bottoming ahead of support near 0.7142 to 0.7145 on Monday. THe momentum started to pick up on Tuesday and on Wednesday after moving above its 200 hour moving average with momentum, the pair shot to and through the 100 day moving average at

USDCAD tests its 100 hour moving average The USDCAD is moving higher in reaction to the USDs general move to the upside. Helping the trend is the rise in yields. 2 year 0.955%, +5 point basis points 10 year 1.759%, +5.3 basis points 30 year 2.098%, +5.2 basis points Technically, the pair also is getting

NZDUSD has push sharply to the downside and tests 200H MA The NZDUSD has been stepping lower and lower and lower, since it’s high at the start of the London morning session. Recall from yesterday’s trade, the price moved above the swing highs from December 29 and January 3 at the 0.6856 level. The move

NASDAQ index toys with the 200 day moving average The NASDAQ index as traded up and down and trading today and toyed with the idea of trading below its 200 day moving average. That moving average currently comes in at around 14726. The low price for the day reached 14689.43, and the current price is

GBPJPY moves below a floor between 155.918 and 156.06 The GBPJPY is trading lower for the second consecutive day after the high price from yesterday stalled against the swing area/ceiling between 157.42 and 157.766. Today, the pair moved below a old ceiling/floor going back to December 31 between 155.918 and 156.06. The price is currently

EURUSD on the 4-hour chart The EURUSD moved lower and lower today. In the process, the pair moved below what was a swing area going back to November. That area held earlier in the week. Moving below, increased the bearish bias and kicked the price lower. Looking at the 5 minute chart below, the move

USDCHF bottom this week at the floor area The USDCHF peaked on Tuesday at 0.92776. That was short of the December high at 0.92937. On Wednesday, the price fell sharply and in the process cut through its 100 day MA (blue line on the daily chart above) at 0.92128, and the 200 day moving average

Selling in the major stock indices accelerated into the close, with all the indices all closing near the lows for the day. The NASDAQ index was the biggest loser and fell for the first time in four trading sessions The Dow and S&P broke their two day win streak All three indices are now on