Technical Analysis

Muddies the water for the bulls again…. The GBPUSD is dipping back below the broken 100 day MA at 1.28925, muddying the bullish waters.  The pair moved above the moving average earlier in the week (Monday and Tuesday). Each run higher eventually failed, and the price moved lower (see red shaded areas). Yesterday, the price
GBPUSD retraces NY range. EURUSD lags.  The vote came and went and given the resounding defeat, and vote of no-confidence, the price action is a little head scratching.  “The market” can be all knowing and maybe it knows more than I do, but the technicals have turned around. Looking at the hourly chart, the price
Buyers turned to seller below the 1.15145 midpoint level The EURUSD fell below the 1.15145 midpoint level. The buyers turned to sellers. The 1.1500 level and now the 1.14847 swing area has now been broken. The pair is testing the 100 day MA at 1.14762. The buyers tried. The buyers failed.  The pair is now
Barometer for bulls/bears As the day works toward the close of the day, the USDJPY is inching closer to it 100 hour MA at 108.472 (blue line in the chart below). On Monday, the price moved above and wandered higher.  Yesterday, the price fell below and wandered lower.  Today, the wander is back higher toward
Moves below a trend line tilting the bias a little lower today The EURJPY has been rebounding after the flash crash last week. The move higher has been tracking above a trend line, until today that is. Today, the price stalled just ahead of the 200 hour MA and then moved modestly below the trend