fxtrends

fxtrends

A key the trendline is being pressured as of this writing. The December (Z) contract daily chart of NQ futures depicts a 3-month falling trendline that intersects the previous 4 rejections going back to August. The critical point lies at 15,230, which is the exact price heading into the New York open 9:30 EST. This is the second consecutive day in which...

fxtrends

In what was perceived as a hawkish pause by the FOMC, fell on deaf ears shortly after the statement by the Federal Reserve was released Wednesday afternoon. Initially, after investors recognized the hawkish projections, interest rates quickly raced higher and stocks sold-off quite substantially. But that sentiment didn't last long, as US 10-year futures...

fxtrends

While all eyes will indeed be glued to next week's Federal Reserve's statement and press conference on Wednesday, those viewing through a technical lense will be watching how stocks fare at the recent year-to-date highs. After finishing last week not only at the days highs, but at the week's high, NQ (Nasdaq 100 futures) and ES (e-mini's) also closed at the high...

fxtrends

Those who choose to ignore fibonacci numbers in markets, this is for you! Just check out a daily chart of the S&P 500 index. If you included the most recent range, more specifically, the area from the December (2022) low to the February high, the 61.8 % retracement level comes in at 3929.11. Well, just yesterday morning after spending the first 15 minutes of the...

fxtrends

Following the blowout non-farm payrolls number (Feb 3rd), 10-year yields enjoyed a productive week, confirming a minor base in the 3.33% area ahead of a falling diagonal breakout. This has the 10-year poised to re-test 3.90% with possible room to test the psychological 4% region. Look for over-stretched daily indicators to limit potential upside after Tuesday's...

fxtrends

2022 is shaping up as a year to remember! Since plummeting the first 9 months of the year to reach fresh all-time lows, the British pound has staged an impressive recovery heading into the year end. Long-term bullish divergence (RSI) and the potential yearly hammer formation hint of a possible completion of a clear 5-wave bear campaign from the "Great Recession"...

fxtrends

Looks to extend through the stubbornly resistant 268.20 level after ranging above the 50-day the past two days and finding support off the 10-day on Friday. Clearing 268.20 would confirm a key higher low and would immediately re-open 270 (near key Fib retrace) ahead of 275 then 280.

fxtrends Updated 

While not the perfect spot for a Inverse Head & Shoulders pattern, but all the hallmarks are there, including a previous decline...Check! A left lower shoulder....Check! A head (Friday's low)...Check! And finally a well-developed neckline (probably the most important!) Now the Nasdaq 100 futures chart need only to hold-up in the 11.7K region (last...

fxtrends Updated 

The XLF etf left behind an usual candlestick formation on daily charts with the most volume seen in over a week. It also highlights the lack of successful momentum above the 40 range once again. If the psychological 40 mark manages to cap near-term price-action then its likely to re-test 38.70 where some minor support and the 50-day lie. That's where I'd put...

fxtrends

10's have broken-out to fresh cycle highs and target 2.139% next which coincides with a key Fibonacci retracement.

fxtrends

It appears that 10's are coiling up with two potential trendlines to watch (converging orange lines on the chart). Since failing just under 1.70 three weeks ago the latest trend has been down despite a more hawkish Fed and rising 2-year yields. This has led to dramatic flattening across the curve before the latest FOMC meeting. Ahead of Wednesday's announcement,...

fxtrends Updated 

The dollar index is potentially shifting momentum lower as Friday's price-action highlighted a series of bearish reversals. First off, the DXY had already recently struggled into the late March peak so bulls had been put on notice leading up to last week's decline. Coincidently, Friday's high rejected at former resistance then managed to close below the 10-day ma...

fxtrends

CL futures are currently testing potential trendline resistance and the 50-day MA. The current advance is matching the late-July advance in price and time. Thus, if bulls stall here it would confirm the validity of the falling trendline. Note, the daily candle has not closed yet so this is a little premature. That said, if price-action closes at or near current...

fxtrends

Attempts to break key trendline support have been thwarted several times. Stay long while price-action remains supported by this trendline, but bulls will need to take-out the 10-day MA in order to re-open the all-time highs

fxtrends

A clearv neckline is present at 1490 and current price-action is seemingly carving-out a possible lright shoulder.... For this formation to be confirmed, Gold futures will need to reverse lower soon, then swifly take out support at 1490.. Measured move would project weakness towards the 100-day MA

fxtrends

The EUR/USD is now nearing a key region of resistance after reaching fresh 3-year highs earlier today. A key trendline and two key Fibonacci measurements are lining-up in the 1.2617/33 region, just above current price action. This, however, is not just any trendline, its a trendline that originates from the double top pattern in 2009, when the EUR/USD rejected...

fxtrends

There are several components in pre-qualifiying a Head & Shoulders pattern and right now the Dow Jones Industrial Average checks off all the boxes. First, the pattern itself cannot be larger than the previous move...check! Second, the pattern should have relatively proportionate shoulders and a relatively flat neckline....check! Now that this bearish pattern has...

fxtrends Updated 

if you notice last week there was a reaction to a trendline projected from a series of lower highs months ago, which marked the 3rd point and confirmed relevance. USD/CAD has started the week quickly rebounding after last week's shallow pullback,putting the trendline in focus. A clean break would expose key retracement levels