Category: Technical
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NZDUSD Technical Analysis – The price is bouncing on a key support level
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Basic overview The US dollar continues to get support from good economic data as seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although this data keeps interest rate expectations stable around two cuts by the end of the year, it should also…
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USDJPY Technical Analysis – The market is testing the intervention level again
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Basic overview The US dollar continues to get support from good economic data as we recently saw from the US PMIs last Friday and the US Consumer Confidence report yesterday. Such data keeps interest rate expectations stable around two cuts by the end of the year and supports risk sentiment…
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Kickstart the FX trading day for June 21 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In the June 21 kickoff video, I look at the three major currency pairs from a technical perspective and explain what the bias is, what the risks are, and what the objectives are for each. EURUSD corrected higher to test a 61.8% retracement of the up move from the April…
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Crude Oil Technical Analysis – We are back at the key 80 resistance
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Basic overview Crude oil reversed all its losses from the last week of May, when the market fell, despite OPEC+ extending voluntary production cuts, with the price falling out of a full month’s range. It is possible that the decline was purely technical, as downward momentum increased after the breakout.…
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NZDUSD Technical Analysis – The price is getting closer to a key support
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Basic overview Last week, the US dollar lost strength across the board after the weak US CPI report, with the market cutting interest rates twice by the end of the year. The moves were reversed soon after as we got a slightly tougher than expected decision from the FOMC as…
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An updated technical look at USDJPY heading into to the weekend and the new trading week
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USDJPY corrected higher since the beginning of the American session, and faced resistance above the 157.40 and 157.464 levels. Buyers turned into sellers against the level. From now on, the swing zone will be nearby resistance not only today but in the new trading week. If it breaks, traders will…
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Unlocking Apple’s Stock Potential: Technical Signals to Watch
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Apple rose this week on the back of news of the company’s new AII (and its product announcement at the Worldwide Developers Conference). Basically, we hope that the new AI initiatives will spark a new round of product upgrades for its user base. This is something new versus what were…
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EURUSD Technical Analysis – The pair broke through a key support
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Basic overview The US dollar was sold off across the board on Wednesday following the release of a weak US CPI report. This data has prompted the market to re-price the discounts twice this year. Later in the day, we got a tougher than expected decision from the FOMC as…
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AUDUSD Technical Analysis – The soft US CPI weighs on the USD
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Basic overview The US dollar was sold off across the board yesterday after the weak US CPI report. This data has prompted the market to re-price the discounts twice this year. Later in the day, we got a tougher than expected decision from the FOMC as the chart showed that…
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Crude Oil Technical Analysis – Strong comeback supported by the US NFP report
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Basic overview Despite OPEC+’s recent extension of voluntary production cuts, crude oil was sold off as the price broke support in the May range. However, the decline may only be technical as it gained bearish momentum on the breakout. The price eventually bottomed around the $73 area and erased all…
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AUDUSD Technical Analysis – We are back at the bottom of the range
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Basic overview The US dollar returned strongly last Friday after the release of the strong US non-farm payrolls report, where the data surprised with strong growth in jobs and wages. There were also negatives such as high unemployment, but overall, we can say it was a good report. The data…
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Gold Technical Analysis – The bias turned a bit more bullish
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Basic overview Gold felt pressure from rising real yields in the latter part of May which led to it falling and consolidating around the 2340 level. More recently, data has shown that the inflation panic of the first part of the year appears to be in the rearview mirror, and…
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GBPUSD Technical Analysis – The greenback came back with vengeance
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Basic overview The US dollar received support from strong US consumer confidence data which led to a strong rise in long-term Treasury yields. However, the report showed that the labor market remains resilient which is good news for growth and not necessarily bad news for inflation. The dollar also benefited…
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Crude Oil Technical Analysis – Strong growth data boosts prices
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Basic overview The price of crude oil has declined steadily since it reached the $87.50 level following tit-for-tat reprisals between Iran and Israel. The decline came as a surprise as the market did not respond favorably to global growth expectations amid policy easing by China and other major central banks,…
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USDJPY Technical Analysis – The uptrend remains intact
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Basic overview Last week we saw the USD/JPY pair fall following the US CPI report as the market shrugged off interest rate hike fears and consolidated the Fed hike for longer. The next day, the Japanese Yen started to lose strength again, as not only does the interest rate differential…
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Update technical look at the EURUSD as the price stretches to new session highs
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EURUSD extends to a new session high and in the process: It succeeded in breaking away from the 100-day moving average at 1.08235, The 61.8% retracement of the downward move from the March high at 1.08354 moved above it. It extends towards the next swing zone between 1.0875 and 1.0887.…
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Gold futures technical analysis. I am waiting to go Long on Gold at 2337.5 to 2341.5
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Gold Futures Technical Analysis and My Trading Plan – Watch the video below, Gold Traders and Investors As I delve into technical analysis of gold futures on the 1-hour time frame, my focus shifts towards identifying the most strategic buying opportunities and understanding the inherent risks associated with trading this…
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Long list of oil support: risk on, technical, inventory, Mid East, China, restocking
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience and risk tolerance. You may lose some or all…
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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 weakened across the board recently due to a more dovish than expected FOMC decision last week as the Fed decided to signal a further tapering of the QT period starting in June and Fed Chairman Powell repeatedly rejected expectations of a rate hike. Furthermore,…
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AUDUSD Technical Analysis – The pair is at a key resistance ahead of the RBA
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The US dollar weakened across the board last week due to a more pessimistic-than-expected FOMC decision, as the Fed decided to signal a further tapering of the QT period starting in June, and Fed Chair Powell also repeatedly backtracked on interest rate hike expectations. . Furthermore, data released on Friday…