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Technical Analysis
USDCAD retests the high swing area between 1.36049 – 1.36269
The USDCAD is extended to a new session high, and in the process is back testing the swing area between 1.36049 and 1.36269 (the red number circles and yellow area on the chart above). The 61.8% retra...more
The AUDUSD ping-pongs this week between trend lines in volatile up and down price action
The AUDUSD has been ping-ponging this week in volatile up and down trading. Looking at the chart below, the price action initially was to the downside. Support held against a upwards open trendline.T...more
USDCAD trades up and down this week with the pair now higher. What can we expect now?
The USDCAD has traded up-and-down this week. The initial move was higher into the top-side swing area resistance. In the middle of the week the move was to the downside (after the FOMC rate decision)....more
USDCHF continues upside momentum today but five sellers near keep retracement target
The SNB cut rates this week pushing the CHF lower (the USDCHF higher), but sellers showed up on the first test of the 38.2% retracement of the trend move down from 2022 high at 0.90254. Getting above...more
Kickstart your FX trading day with a technical look at the EURUSD, USDJPY and GBPUSD
In the kickstart video, I take a look at the major currency pairs for March 22, 2024. In the video, I look at the EURUSD, USDJPY and GBPUSD with a focus on what happened this week and what is ahead f...more
The JPY is the strongest and the AUD is the weakest as the NA session begins
As the North American session begins, the JPY is the strongest and the AUD is the weakest. The USD is battling with the JPY as the strongest. Central banks have been key this week. The Bank of Japan ...more
USDCAD Technical Analysis - Watch out for a break of the key resistance
USDThe Fed left interest rates unchanged as
expected with basically no change to the statement. The Dot Plot still showed
three rate cuts for 2024 and the economic projections were upgraded with growt...more
Nasdaq Composite Technical Analysis
Yesterday, the Nasdaq Composite closed the day
negative as the price retreated from overstretched levels reached after the Fed
decision. We also got another slate of strong US data yesterday with the ...more
S&P 500 E-mini futures: A swing short trade idea
As traders tune in to the latest patterns in the S&P 500 E-mini Futures (ES1), a compelling short trade setup has emerged. Here's a strategic approach based on the current 4-hour chart dynamics:Cu...more
Adios to the Great British Pound
A simple 4 hourly chart with a simple 'technical analysis' for GBPUSD shows a simple bearish outlook for the CableThe GBP/USD currency pair, often dubbed the "Cable", has shown some dramatic moves on ...more