The USD is making new highs in early NY trading. What are the charts telling us?

2022-11-10

A look at some of the key levels in play for the major currency pairs.

The US CPI will be released at the bottom of the hour. Risk is increased so be careful.  Don’t confuse gambling with trading.  However, if stronger than expectations or weaker we could see some good trend like moves. So know your levels that define the bias and your risk.   What levels are in play for the major currency pairs? I look at the  EURUSD, USDJPY, GBPUSD, USDCHF and USDCAD in the morning forex report.

2022-10-26

The AUDUSD ran up to some MA resistance at the 200 bar MA on the 4-hour chart, but failed on the first look. What now?

2022-10-23

The World Platinum Investment Council forecasts that China will soon commence mass production of fuel cell electric cars, which is positive for the price of the white metal.

Fuel cell electric cars (FCEVs) offer the zero-emission mobility that the world so sorely needs to help battle catastrophic climate change. China is set to become a dominant market for platinum-using fuel cell electric vehicles (FCEVs), which provide the zero-emission mobility.

The following platinum futures technical analysis suggests that the precious metal may be positioning itself for a potential upward breakout. This comes after a stretch of time in which the US dollar was quite strong, and worries of inflation, both of which may have led to some significant losses for platinum so far in this year.

According

2022-08-26

Are you one to do trades with $%&*# trade location?
If so you need to change your trading mindset and start to focus more on the idea of risking a little to make more than a little.

In this video, I will speak to to this topic and get you away from your $%&*# trade location.

2022-08-23

The EURUSD made another new low going back to December 2002, reaching to 0.9900. The price high stayed below the swing low from July 2022 at 0.99515 keeping the sellers in firm control.  The 14 day RSI is diverging and moving toward oversold, but the price still needs to get and stay above 0.99515 if the pair is going higher. 

The USDJPY move  to a new high going back to July, and on the downside stalled just ahead of the June high near 137.00.  That keeps the buyers in control for the pair. 

The GBPUSD reached new lows going back to the March 2020 start of the pandemic shutdown but has seen a modest bounce. The low reached 1.1716.  The 1.18000 level is a minimum level to get above if the buyers are to notch a win in the short term

THe AUDUSD fell traded lower but did find support at

2022-08-19

Bear flag still seems in play for BTCUSD, so we may be at the end of a bullish retracement within a down trend that is still in play. Bears are looking better than the bulls. Long term buyers seeking to enter or increase positions should wait for a daily candle to close above $26000.

2022-08-16

The GBPUSD has pushed higher and trades above a key swing area near 1.2064 and now looks toward the 1.2100 level. The 200 hour MA looms above 1.21216. Close support at 1.2064 area for buyers looking for more upside. Sellers want to see 1.21000 level hold resistance now.

2022-08-13

Today’s daily candle, while closing only in apx 4 hours, is now showing a sign that bulls are NOT about to break the presented channel to the upside, following this 4th attempt to do so, on the daily timeframe.

Even if we had a coin flip for this trade, the reward vs risk merits to short BTCUSD here. Why? Because the stop loss is half the take profit target for the first part of this trade plan, and only 25% of the profit target of the 2nd part, as shown via the short trade drawing tool within the video.

Furthermore, some traders can leave 25% of the position riding the possible down movement, since this channel, is also a potential bear flag.

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