Category: Technical
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Gold Technical Analysis – The calm before the storm?
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Basic Overview Gold continues to trade in a tight range as the market awaits key catalysts this week. As a reminder, the Fed is now very focused on the labor market as Fed Chair Powell said they will not welcome further weakness and will do everything they can to maintain…
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Martin Mumo: Technical mountain climber’s life lessons
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“If you don’t fall, you don’t learn,” is a good motivational saying, but not when you’re strapped to a rope 4,900 metres above sea level and very close to the highest peak of Mount Kenya. First, getting there is the ultimate mountaineering experience. It is a celebration that many long…
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NZDUSD Technical Analysis – The Kiwi benefits from the USD weakness
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Basic Overview The US dollar remains under pressure amid positive risk sentiment and an impending rate cut by the Fed that should help global growth. These factors are generally bearish drivers for the US dollar. In fact, the recent strong rally in the New Zealand dollar has been driven mostly…
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NZDUSD Technical Analysis – The Kiwi benefits from the USD weakness
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Basic Overview The US dollar remains under pressure amid positive risk sentiment and an impending rate cut by the Fed that should help global growth. These factors are generally bearish drivers for the US dollar. In fact, the recent strong rally in the New Zealand dollar has been driven mostly…
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Gold Technical Analysis – Flash US PMIs in focus
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Basic Overview After breaking the 2480 resistance level, gold eventually managed to extend its gains to the 2532 level as buyers flocked in. In the big picture, gold is expected to remain supported as real yields decline as we head into the Fed’s easing cycle, but in the near term,…
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Nasdaq Technical Analysis – We have erased the growth scare
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Basic Overview Finally, the Nasdaq managed to erase the entire decline in the Institute for Supply Management (ISM) manufacturing PMI as the market’s “growth concerns” faded. The first catalyst was the healthy US jobless claims on August 8.D In August, this eased concerns about a deteriorating labor market caused by…
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Trade ideas thread – Monday, 19 August, insightful charts, technical analysis, ideas
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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EURUSD Technical Analysis – The risk-on sentiment weighs on the US Dollar
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Basic Overview Yesterday, we saw strong data from the US, with unemployment claims and retail sales figures coming in much better than expected. The initial reaction was bullish for the US dollar, but after a while the market started to fade this move. The reason for this is that risk…
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NZDUSD Technical Analysis – A more dovish RBNZ weighs on the Kiwi
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Basic Overview Yesterday, the US PPI report came in below expectations by a wide margin, leading to a sell-off in the US dollar as the market began to prepare for a potentially weak US CPI release today. This led to a major breakout in the NZD/USD pair, which was short-lived…
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Kickstart the FX trading day for Aug. 9 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In the opening video for August 9, I take a look at three major currency pairs, EURUSD, USDJPY, and GBPUSD from a technical perspective. For the EUR/USD pair, the pair is trading up and down during today’s trading, but has found resistance from sellers against its 100-hour moving average at…
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Russell 2000 Technical Analysis – Good jobless claims quell the fears
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Basic Overview The Russell 2000 index rose strongly from yesterday’s lows after the release of strong US jobless claims figures, as the data eased some concerns about the labor market after last Friday’s weak US nonfarm payrolls report. Market expectations for a rate cut have eased slightly but remain very…
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AUDUSD moving into a cluster of technical levels. Can the momentum continue?
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The AUD/USD pair reached session highs, surpassing two of the four key technical levels: the 50% retracement of the move down from July at 0.6473 and the 100-bar moving average on the four-hour chart at 0.6577. The current price is trading at 0.6586. Next targets are the 200-day moving average…
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Crude Oil Technical Analysis – Weak US data weighs on the market
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Basic Overview Crude oil prices fell sharply in the latter half of last week as some very weak US data came out, first the ISM manufacturing PMI and then the non-farm payrolls report. The market eventually rebounded on Monday and extended its gains yesterday, with the appointment of a new…
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Gold Technical Analysis – The global market rout sends gold lower
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Basic Overview Ultimately, the collapse in global markets on Monday has been a stressor for gold. The reasons for this decline lie in the movement of real yields and liquidation due to the need for cash in extreme scenarios. In the big picture, real yields fall, which is good for…
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Gold Technical Analysis – The global market rout sends gold lower
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Basic Overview Ultimately, the collapse in global markets on Monday has been a stressor for gold. The reasons for this decline lie in the movement of real yields and liquidation due to the need for cash in extreme scenarios. In the big picture, real yields fall, which is good for…
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Nasdaq Technical Analysis – The rout in the Japanese markets impacted globally
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Basic Overview At one point, it looked like the worst was over, with the Nasdaq up nearly 5% in a single day following the Bank of Japan and FOMC decisions. Unfortunately, the next day we got the ugly US ISM manufacturing PMI, which sent the market into a defensive and…
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A technical look at the S&P and Nasdaq indices. Both trading near key levels.
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The Nasdaq opened lower, then rallied and briefly moved above the 100-day moving average at 16,876.83. Just above that is the 50% retracement of the move up from the May low to the July high. That level reached 16,946.92. Today’s high reached 16,920.63 between the two levels. Buyers have turned…
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GBPUSD Technical Analysis – A look at the chart ahead of the BoE decision
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Basic Overview The US dollar has been steadily rising against most major currencies over the past two weeks, although the catalyst behind the move has been unclear. A good argument has been that most of the moves we have seen have been driven by debt relief as a result of…
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EURJPY: An updated technical look at the EURJPY after the break back below its 100 hour MA
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The EUR/JPY pair rallied earlier today, breaking above the 100-hour moving average (solid blue line on the chart below) in the process (currently at 166.679). The subsequent move extended towards the 100-day moving average (gradient blue line on the chart below) in the Asian and early European trading sessions, but…