Technical Analysis

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 ru...

The Dow and S&P are trading at session lows. With the declines, the S&P is now more comfortably below its 100 day moving average of 4576.85. The current price is trading at 4560, down 16.88 points or -0.37%.  S&P index is trading below its 100 day moving average Meanwhile the Dow ...

GBPUSD testing at the 200 hour moving average The GBPUSD has fallen for three consecutive days, but is seeing buying today. The move to the upside today has reached back toward its 200 hour moving average (green line) currently at 1.36382. Recall from yesterday, the price cracked and...

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 cor...

GBPUSD moves below an old ceiling. The GBPUSD has been stepped lower in trading today, with the price sliding back below its 200 hour moving average in the process (green line currently at 1.36315).  After breaking that level, it also cracked below a swing area (old ceiling) between 1.3...

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...

GBPJPY test the swing lows from last week Recall from last week, the price moved below a swing area between 155.918 and 156.06. The price low moved to 155.449 before rebounding and closing back above that swing area. On Monday, the swing area held support again before moving higher in r...

The strongest to the weakest of the major currencies The CAD is the strongest and the NZD is the weakest as US traders return from their 3-day Martin Luther King day holiday and markets are reacting to higher oil, higher yields, lower stocks, fear of inflation…you name it.   The USD...

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 ...

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 char...