The USD/NOK currency exchange rate has reached above the July high level zone of 10.30/10.37. The surge occurred in the aftermath of both the US and Norwegian central banks hiking rates. In general, the markets see the US Federal Reserve as more hawkish and expects the USD to gain more value than the Norwegian Krona. A surge higher might encounter
This trading week, which ends with September 23, the Federal Reserve hiked 0.75% and made comments about additional tightening incoming. Meanwhile, the Swiss National Bank also hiked their interest rates by 0.75%. In the aftermath of the interest rate changes and central banker press conferences, the market decided that the USD is set to be gain more strength than
Since the last review of Brent oil price, the commodity has continued to decline, as it almost reached the 2021 high level at 86.73 in early September. However, the price recovered and during most of the month was fluctuating between 90.00 and 95.00 levels. In general, it appears that the price is waiting for the US Federal Reserve Rate
Since the last review of the USA 30 stock index, the index has declined. In general note the two large red candles, which were caused by fundamental events. Namely, the US Fed Chairman Jerome Powell stated that a recession is likely and the US inflation data revealed that despite monetary efforts inflation is rampant. By September 20, the index had
Since the last review of the US 500 stock index, the stocks have failed to find support and declined to 3,900.00. The round price level acted as support and caused a minor recovery to the 4,150.00 level and the 200-day simple moving average. In mid-September the higher than expected US inflation data was enough to create a decline, which
In general, the Japanese stocks appear to have continued to recover throughout Summer. However, note that they are traded against the Japanese Yen, which has experienced a major decline. In September, the stocks were finding support in the 27,260.00/27,450.00 zone. Meanwhile, resistance was provided by the 28,650.00/28,680.00 zone. In the case of a decline below 27,260.00/27,450.00 the index might find
During August, the French stock index hit the combined resistance of the 6,600.00 level and the 200-day simple moving average. the Resistance was enough to cause a decline, which reached the 6,000.00 mark. The round price level acted as support and has caused a minor recovery. On September 9, the index was approaching the 50-day simple moving average near
Trading demand for coffee has served as a reason for this review of the commodity price. In general, the price has been declining though 2022. It has been finding support in a descending trend line. Meanwhile, since April, the price has been kept down by a resistance zone at 237.60/243.40. In the meantime, the 50 and 200-day simple moving
The surge, which has followed the breaking of the channel down pattern, was heading to the 0.9900 mark. However, on September 8, the currency pair appeared to have started a decline, as it suddenly reversed and approached the 0.9700 level. A decline below the 0.9700 mark might look for support in the 50-day simple moving average near 0.9640. Further below,
Due to recent events, a review of the technical chart for Light Crude oil has to be conducted. First of all, note the fundamentals, which were published throughout this week. On Monday, crude oil prices reacted to the oil producing country cartel OPEC+ announcing that they would decrease their output targets by 100,000 barrels per day. Namely, the global supply of
The German stocks have reached below the 13,000.00 mark. With the start of September, the index was apparently heading to the 12,500.00 mark and the 2022 low level zone, which surrounds it. Further below, note the 12,000.00 and 11,500.00 levels If the German economy avoids a major recession and the index recovers, the index could recover and face resistance in
The US tech stocks have declined and passed all support levels, which were described on August 23. At the start of a new month, the index was finding support in the 12,000.00 mark. An extension of the stock decline might look for support in round levels. Namely, note that the 11,500.00 and 11,000.00 levels acted as support in May,
The last review of the USD/NOK pair was done in April, prior to the US Federal Reserve rate hikes. Since then, the pair has broke the large scale channel up pattern and jumped to trade near the 10.00 mark. In July the pair hit a high level at 10.30/10.37, before retracing and finding support in early August at 9.45/9.49. On August
Despite piercing the 22,000.00/24,340.00 zone, the price for Bitcoin failed to show a follow up surge, as it bounced off the 25,000.00 mark. By the end of August, the BTC/USD pair had declined and was headed to the June and July low levels. A move below the June and July low levels and the 18,000.00 mark could find
In the aftermath of the July 29 review, the USD/MXN pair bounced off the 20.80 level and declined to the 2021 and early 2022 low level zone at 19.60/19.80, which has acted as support. Note that the rate had fluctuated below this zone in May. During the second part of August, the pair has been moving between the support zone
Since the last review of the price of silver in May, the commodity price has passed below the 2019 high level zone and the 19.00 level. Moreover, it has been spotted that since March 2022 the metal has been declining in a broad channel down pattern. In regards to the near term future, note that throughout 2019 and 2020 the
The price for Natural Gas recently reached above the previous 2022 high level zone above 9.50 and reached the 10.00 mark, which has acted as resistance. Meanwhile, it has been spotted that the commodity price has been surging in a channel up pattern. A potential decline of the commodity price is expected to look for support in the 9.00 mark
The recovery of the United Kingdom top 100 stocks continued into August. However, it ended on August 18 when the index bounced off the 7,550.00/7,580.00 zone. Afterwards, short term support was found in the 200-day simple moving average, before the rate passed below it. On August 29, the index was finding support in the 50-day SMA near 7,360.00. An extension
The price for crude oil continued to decline in August until it reached the 84.90/85.90 zone. The zone represents the 2021 high levels. The support zone was enough to cause a surge to the 93.20/95.75 zone, which appeared to be acting as resistance. In addition, the zone was being approached by the 50-day simple moving average. A move above the
The July and August surge of the USA top 500 market capitalization stocks has encountered resistance in the 4,300.00 mark and a minor zone around it. Most recently, the equity index passed the support of the 200-day simple moving average and approached the resistance and support zone at 4,040.00/4,100.00. If the index finds enough support in the 4,040.00/4,100.00 zone, the
The last review of the USD/CHF currency pair was conducted on June 03. Since then, the pair once again attempted to reach above the 1.0000 parity level and the early 2018 high level. The pair failed at the attempt and step by step revealed a wide channel down pattern. However, on August 10, the rate hit the combination of the
The top 30 US stock index has been recovering throughout July and August. However, on August 16, a decline started, which indicated that the larger scale surge is over. By August 24, the equity index had reached below the 33,000.00 mark. Next target for the decline could be the combination of the cluster of levels, which surround the 32,000.00 mark.
The July surge of US tech stocks eventually broke the resistance line of the channel down pattern, which had guided the 2022 decline. The breaking of the pattern occurred due to the support of the 12,830.00/13,120.00 range. In mid-August, the pair had extended its surge above 13,500.00, before starting a decline. On August 23, the index had reached the lower
Since the last review of the top 40 German stock index on July 20, the index managed to reach above the resistance of the 13,500.00 mark. However, eventually, in mid-August the shares bounced off the resistance line, which connects the 2022 January and June high levels. The event was followed by a decline, which by August 23 had reached