I am listening to CNBC and the pundits are mostly spewing How the stock market is overbought. How the stock growth rate over the next 10-years will average 3% per year. How Trump winning will be bullish (PS everyone was bearish in 2016 when he was elected and it lasted about 1/2 a day). How

At the start of the US session today I posted on the GBPUSD: GBPUSD: Traders have been targeting the 100 day MA and the 61.8% of the move up from the August low at 1.2962 and 1.2958. The low price today reached within 3 pips of the 100 day MA at 1.2965 and bounced to

Fundamental Overview The lack of catalysts recently kept the US Dollar supported across the board despite the slowdown in momentum. The market might now be looking forward to the first weeks of November when we will get the key economic data, the FOMC decision and the US elections. There’s been also a good argument that

The EURUSD is testing the low price from last Thursday at 1.08103. The low price just reached 1.08104. A break below the level will have traders looking toward the low price going back to August 1. That level comes in at 1.0777. Earlier today, the price tested the 200-day moving average in the early Asian

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Fundamental Overview Last Friday, the PBoC announced new easing measures which included further rate cuts and stock buyback funding. Moreover, we got some positive economic data with Retail Sales and Industrial Production beating expectations by a big margin. These catalysts provided support for copper which erased most of last week’s losses. Copper Technical Analysis –

TGIF. The USD is trading lower to start the last trading day of the week.The EURUSD and GBPUSD are higher. The USJDPY is lower. What are the technicals are driving each of the major currency pairs. I will outline them in the video above. Below is a written summary: EURUSD: The EURUSD is rebounding after

The USDCHF this week extended above a swing area between 0.86078 and 0.8619, and then the 38.2% retracement of the move down from the July high to the September low at 0.86318. Yesterday there was a corrective move that took the price briefly below the 38.2% retracement, but only by a few pips before the

aCrude Oil Futures Weekly Forecast: Bears in Control, Watching Key Support Levels 📉 Crude Oil Futures (CL1!) are showing clear signs of bearish momentum, with prices falling sharply in recent weeks. This is reflected in the weekly chart, where the market has consistently respected a long-term descending resistance line (marked in red as the bottom

The USDCAD buyers remain in control in what has been an up-and-down trading week that did see the pair move to the highest level since August 6th. At the price high this week, the USDCAD moved into a swing area going back to the end of July early August between 1.38337 and 1.38475. Sellers leaned

The NZDUSD price action this week has been lower, but there also has seen a lot of ups and downs and consolidation after the sharp move lower from the end of September high at 0.6377 to the low this week at 0.6038 (12 days from top to the bottom) Technically, the NZDUSD has been behaving

Shares of Apple are trading at $235 or up $2.85 or 1.22%. Closing this level would suppress the all-time high close level of $234.82 reached on July 16. Wedbush was out with a report today saying Apple’s iPhone 16 sales in China are forecasted to see a significant rebound over the next year. The analysts

The EURUSD is trading higher and is approaching key resistance near 1.0871 to open 08746. Within that area is the 100 hour moving average at 1.0871 61.8% retracement of 1.08746 200 day moving average at 1.0872 The high price yesterday reached 1.0873. The area is key for both buyers and sellers. A move above, gives

There are some small wins for seller in the USDJPY from a technical perspective: The price stalled ahead of a topside trend line yesterday on the hourly chart (see chart above) . The inability to get to the level is a small negative. The price fell below an upward-sloping trend line on the hourly chart

Fundamental Overview The bullish momentum in the US Dollar seems to be waning as GBPUSD couldn’t print a new low despite another set of strong US data. In fact, the US Retail Sales beat expectations across the board by a big margin and the US Jobless Claims came out much better than expected. One caveat

The EURUSD has been trending to the downside recently, and in the process has extended toward August low levels. My most recent technical videos on the pair, have been focused on the 4-hour chart as the market trended lower. If you watch the kickstart video from earlier today I also spoke to the 200-day moving

The USDJPY is extending above the high from earlier this week at 149.974 for the 2nd time today, but is finding more upside momentum on this break.. The price just reached 150.29. The price of the USDJPY has traders now focused on other targets above including the 50% midpoint of the move down from the

Fundamental Overview The US Dollar has been gaining ground across the board this week despite the lack of economic data and lower Treasury yields, essentially moving forward by inertia. Stanley Druckenmiller said in an interview yesterday that the market is already positioning for a Trump victory given the moves in some stocks like DJT for

As the US session works to a close and the Asian Pacific looks to restart, the NZDUSD is pushing the 61.8% retracement target at 0.60509. If the price can move back below that retracement, the low from the first hours of the trading day today down at 0.60387, followed by the low of a swing

The ECB meets tomorrow with expectations of a 25 basis point cut. Going into that decision, the EURUSD is moving to its lowest level since August 2. In addition, technically the price just broke below its 200-day moving average at 1.08728. The current price trades at 1.08660. Sellers are making a play below that 200-day

Fundamental Overview The bullish momentum in the US Dollar seems to be waning despite the recent higher-than-expected US CPI and PPI reports. One caveat is that the market has now priced out the aggressive rate cuts expectations and it’s almost perfectly in line with the Fed’s projections. Therefore, we will likely need more strong US

The Dow Jones Futures have been trading within a well-established upward price channel since October 2022, with clear instances of both resistance and support interactions within the channel. Dow Jones futures – important potential sell zone to watch Key Highlights of the Dow Jones futures chart below: Price Channel Overview: The price has respected the

Fundamental Overview The bullish momentum in the US Dollar seems to be waning despite the recent higher-than-expected US CPI and PPI reports. One caveat is that the market has now priced out the aggressive rate cuts expectations and it’s almost perfectly in line with the Fed’s projections. Therefore, we will likely need more strong US

Fundamental Overview The bullish momentum in the US Dollar seems to be waning despite the recent higher-than-expected US CPI and PPI reports. One caveat is that the market has now priced out the aggressive rate cuts expectations and it’s almost perfectly in line with the Fed’s projections. Therefore, we will likely need more strong US

The EURJPY has been forming a ceiling over the last few weeks of trading. That ceiling comes between 163.478 and 163.60. Today’s high stalled against that level and rotated to the downside. The current price trades at 163.293. Although lower, there is a key target on the downside that needs to be broken if the

The EURUSD is trading to a new low and in the process is testing the low from last week along with a swing area between 1.0899 and 1.09126. Get below that area, and the sellers are taking even more control. On the downside, the 200-day MA at 1.08735 would be the next key target. The

Fundamental Overview The Nasdaq rallied to the recent highs last Friday despite the higher-than-expected US CPI and PPI reports. The Fed targets the PCE though and the Core PCE Y/Y is now expected to tick lower to 2.6%. The market has now priced out the aggressive rate cuts expectations and it’s almost perfectly in line

Fundamental Overview Yesterday, the USD got a boost from a higher than expected US CPI report but gave back the gains pretty quickly. There are two reasons for such a reaction. The first is that at the same time of the US CPI release we got the US Jobless Claims figures which jumped to the

Fundamental Overview Yesterday, the USD got a boost from a higher than expected US CPI report but gave back the gains pretty quickly. There are two reasons for such a reaction. The first is that at the same time of the US CPI release we got the US Jobless Claims figures which jumped to the

As the NA session begins, the NZD is the strongest and the CAD is the weakest. The USD is stronger ahead of the PPI and also the Canada employment report for September. The PPI is expected to rise by 0.1% for the headline and the 0.2% for the core (ex food and energy). The YoY