Dribbles inside weekly triangle below 0.6400
NZD/USD remains sidelined inside a short-term symmetrical triangle formation. Sustained trading beyond the key HMAs, steady RSI favor buyers. Sellers need to break 0.6190 to dominate further. NZD/USD makes rounds to 0.6370-75 during early Wednesday, after snapping a two-day uptrend near a monthly top the previous day. In doing so, the Kiwi pair remains inside […]
NZD/USD bulls are tiring ahead of US CPI as the main event
NZD/USD bulls eye a test of resistance before Thursday’s CPI event that leaves the 0.6470s exposed. NZD/USD traders will be looking to the lower timeframes for signs of deceleration from the bulls that could lead to a break of 0.6200. NZD/USD is heading into the end of the North American session flat on the day so […]
Sector Spotlight: Reverse Engineering a Price Target for SPY | RRG Charts
In this year’s first episode of StockCharts TV’s Sector Spotlight, I look at the current state of sector rotation, then walk through all 11 sector charts to make an assessment on their individual (relative) trends and their near-term support and resistance levels. Next, I use all this information to “reverse engineer” support and resistance levels and […]
Mexican peso hits its highest level in a month, looking at 19.00
US Dollar remains weak against Emerging Markets currencies. USD/MXN testing 2022 lows near 19.10, closer to 19.00. Bearish pressure to alleviate above 19.50 The USD/MXN is falling again on Tuesday as it continues to move with a bearish bias, approaching the 19.00 psychological area. Earlier today it bottomed at 19.08, the lowest level in a […]
Mish’s Daily: The Spot Where the US Dollar Still Stands | Mish’s Market Minute
You don’t want to miss Mish’s 2023 Market Outlook, E-available now!Despite the debate about the strength or weakness of the US Dollar, it will remain one of the most important currencies in the world for decades, and will continue to cause trouble for some. Still, new monetary paradigms are shifting in the global oil market, […]
Further downside hinges on 131.30 break
USD/JPY remains pressured for third consecutive day as sellers poke one-week-old support line. Bearish MACD signals, downbeat RSI signal further south-run. Any recovery remains elusive below 135.00 resistance confluence. USD/JPY holds lower ground near the intraday bottom surrounding 131.30 as bears flirt with the short-term key support during early Tuesday. In doing so, the Yen […]
DP Trading Room: Top Sectors & Industry Groups | DecisionPoint
On this week’s edition of The DecisionPoint Trading Room, Carl opens the show with a reprise of his Tesla (TSLA) vs. Bitcoin discussion and the uncanny similarities as far as gains, losses, and price pattern, in spite of not really being related at all. Erin teases out the most bullish sectors and walks through their […]
The Halftime Show: Predicting Recessions and Bullish Names | Chaikin Analytics
The 2022 year-end came with plenty of volatility in the market, and that’s what bear market rallies and turning points look like. However, we don’t know where the turning point really is. In this week’s edition of StockCharts TV’s Halftime, Pete takes a look at the current market, and discusses economist Campbell Harvey’s outlook on the possibility […]
Bears are lurking in critical resistance area
NZD/USD bulls coming up for ain ahead of the keyUS event. The price is on the backside of a daily trend, and the front side of the weekly/monthly bear trend. NZD/USD is higher by some 0.5% on the day so far and headed for a bullish close to starting the week. However, breakout traders chasing […]
Refreshes multi-day low as bears approach 6.7650 support
USD/CNH drops to the lowest levels since August 17, 2022. Clear break of 200-DMA, bearish MACD signals favor sellers as they eye two-month-old descending support line. Previous support line from June adds to the upside filters. USD/CNH takes offers to renew a multi-day low around 6.7900 heading into Monday’s European session. In doing so, the […]