Technical Analysis

S&P falls back below 50 day MA

S&P falls back below 50 day MA

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50 day MA at 2622.75 The S&P has just violated the 50 day MA after one day close above that moving average.  That MA comes in at 2622.72. The price is trading at 2619.72.  The move higher last week was also able to breach the 50% of the move down from the September high. That…
Crude oil futures settle at $52.57

Crude oil futures settle at $52.57

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Down $1.23 or -2.29% The price of crude oil futures tumbled $1.23 or -2.29% to $52.57. IMF downgrading 2019 global growth, US oil production hitting a record 11.9 bpd, slowdown in China, Saudi not able to cut production enough to balance markets are stories driving the price lower.  The  high today reached $54.24. The low…
USDJPY dumps through trend line/MA support

USDJPY dumps through trend line/MA support

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Early support gives way with stock declines The USDJPY dumped on a break through trend line and 100 hour MA support.  See earlier post. Those technical levels stalled the fall earlier, but as stocks weakened, so too did the price of the USDJPY (again).  The technical break of the trend line and the 100 hour…
EURUSD continues it’s run higher and approaches key level> GBPUSD also rising

EURUSD continues it's run higher and approaches key level> GBPUSD also rising

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Falling 100 hour MA catching up to rising price. The EURUSD hasd continued it's run higher and in the process approaches the the key 100 hour MA at 1.13789. The MA is moving lower and that makes the hurdle easier in a rising market.   The price has not traded above the 100 hour MA since…
Stocks trade near lows.  Corrects toward 50 hour MAs

Stocks trade near lows. Corrects toward 50 hour MAs

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Been above the 50 hour MA since January 4 The major US stock indices moved above their 50 hour MAs back on January 4th and since that time, the price has not dipped below that MA level. With the price of the broad indices today, the price is moving back toward the lagging 50 hour…
European shares ending the session lower. German slowing a concern.

European shares ending the session lower. German slowing a concern.

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German Zew falls to 4-year low The major European indices for ending the session lower. The German ZEW indicator fell to its lowest point since January 2015.  Trade friction and slowing China growth is also a catalyst for the decline. Provisional closes are showing: German DAX, -0.5% France's CAC, -0.56% UK's FTSE, -1.01% Spain's Ibex,…
EURUSD pushes back higher as the dollar weakens

EURUSD pushes back higher as the dollar weakens

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Break lower failed. Existing home sales put the kabash on the selling The EURUSD pushed below a lower trend line and sellers jumped on the move.   The fall took the price to a low of 1.1335, but existing home sales were weak. The price pushed back higher.  The failed break, could snowball as sellers give…
GBPUSD jumps to new session highs

GBPUSD jumps to new session highs

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Bounces off MA levels in move higher from the lows today The GBPUSD is trading at a new session high over the last few minutes as weaker housing data undermines the USD. Stocks are also lower and yields are lower which are contributing to more dollar weakness. Technically, the pair moved lower in early trading…
USDJPY tests lower trend line. Bounces.

USDJPY tests lower trend line. Bounces.

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100 hour MA is also in play The USDJPY is trading lower today, helped by lower rates and lower stocks. The futures in the US are projecting a lower opening with the Dow down -141 points and the Nasdaq down about -50 points.   The European session has seen more up-and-down action, with a lower trend…
EUR/USD Technical Analysis: Trend-Defining Support Under Fire

EUR/USD Technical Analysis: Trend-Defining Support Under Fire

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EUR/USD Technical Strategy: BEARISH Euro pressuring support guiding two-month upswing vs US Dollar Confirmed breakdown may signal long-term down trend resumption Conviction may be lacking before ECB monetary policy decision Build confidence in your Euro trading strategy with our free guide! The Euro is probing support guiding the choppy upswing against the US Dollar since…

ANALYST PICKS

Active NZDCAD Short, CAD Strength to Retrace NZD’s Q4 Run

Active NZDCAD Short, CAD Strength to Retrace NZD’s Q4 Run

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NZDCAD Active Short at 0.8996: The Canadian Dollar enjoys a fundamental tailwind versus its New Zealand counterpart A series of significant technical levels bolster the bullish CAD argument However, a Canadian rate decision could disrupt the trade New Zealand Dollar Likely to Soften in the Weeks Ahead The Kiwi-Loonie cross enjoyed a significant climb last…
Will EUR/CAD Short Be Triggered after Bearish Technical Signals?

Will EUR/CAD Short Be Triggered after Bearish Technical Signals?

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EUR/CAD Trading Strategy: Pending Short at 1.5276 Bearish EUR/CAD is one of my top trading opportunities in 2019, wanting to enter short BoC may support rate hike estimates this week, wanting to sell Euros for higher liquidity Risk-reward setup requires a climb to 1.5276 in order to target October rising trend line Build confidence in…
USD/BRL Bearish Reversal Pattern on Edge of Confirmation

USD/BRL Bearish Reversal Pattern on Edge of Confirmation

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USD/BRL Technical Strategy: PENDING SHORT AT 3.5843 Waiting for USD/BRL to have daily close below 3.5843 to confirm reversal Decline is likely to accelerate after a daily close below the neckline support The next possible support level will possibly be at the 3.3377 price target See our free guide to learn how to use economic…
Near-term Trade Setups in USD/CAD and AUD/USD

Near-term Trade Setups in USD/CAD and AUD/USD

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New to Forex? Get started with our Beginners Trading Guide! USD/CAD Daily Price Chart In last week’s USD/CAD Price Outlook we highlighted that the rally was, “vulnerable near-term while below 1.3685. From a trading standpoint, I’ll favor fading weakness while below this region targeting a move towards the lower parallel.” The subsequent breakdown has taken…