Since the last review of the US top 2000 stock index, the equities continued to surge in the channel up pattern and made three attempts to break above the 2,000.00 mark. However, at the start of August a decline started, which could not be stopped by the combination of the 50-day simple moving average and the lower trend line
The USD/MXN currency exchange rate has been trading this summer below the 2016 low level, which marks it at a eight year low. The decline of the rate had been guided down by a resistance line throughout 2022. However, in late 2022, as the pair bounced off the resistance line for a third time, a steep decline started, which
Due to the broader fundamental weakness of the Japanese Yen, the Japanese stock index has continued to surge. Namely, the Bank of Japan has continued with its easy monetary policy that has caused a more than 30% surge from the early 2023 lows up to the July high level. From a technical analysis perspective, the equity index has bounced off
The price for UK's Brent oil brand has been trading in a range around the 80.00 mark just like US crude oil. The reason for the trading has been the OPEC+ cartel's actions. The cartel has been adjusting its production capacity to the global demand in an effort to keep the prices around the 80.00 mark. Most recently, the commodity
Since the middle of July, the EUR/NOK currency exchange rate has been squeezed in between the support range at 11.10/11.20 and resistance of the 200-day simple moving average near 11.30. A decline below 11.10 is highly likely set to look for support in the 11.00 mark and other round levels. Note that the 10.80, 10.60 and 10.40 levels have acted
For most of 2023, as the USA tightened their policy and set export sanctions on China, the Chinese government continued to ease its policy and weakened the Yuan and the Chinese stocks. As a result, the Chinese top 50 stock index declined in a channel down pattern. The decline has ended due to a fundamental and a technical
In general, the surge of the USD/JPY has been caused by the weakness of the Japanese Yen. Namely, the Bank of Japan has kept its monetary policy easy, as it does not have to fight inflation. The US Federal Reserve has hiked interest rates and increased demand for the USD. The equation is simple. However, it is not the
Throughout 2023 OPEC+ cartel has kept crude oil prices steady at its desired range, as it adjusts production to its liking and the global demand, inflation trends. In general, the price has been kept between support range at $63.75/$65.70 and resistance at $81.20/$83.70. Meanwhile, for short term period the price has been respecting the 50 and 200-day simple moving
By large, for most of 2023 the price for Natural Gas has fluctuated between two zones. A support zone at 2.0000 and resistance at 3.0000. During July, the price was finding support in the combination of the 2.5000 mark and the 50-day simple moving average near that level. Most recently, the 3.0000 mark was approached by the additional resistance
The NZD/USD rate has been trading between support at 0.5990/0.6085 and resistance at 0.6380/0.6420 for most of 2023. Most recently, the pair bounced off the resistance zone and declined to the support of the 50-day simple moving average. A decline below the 50-day simple moving average could result in the rate looking for support in the 0.5990/0.6085 range. Further below,
The US Small Caps stock index has surged since early May. Most recently the index was approaching the 2,000.00 mark and the 2022 high at 2,033.50. Meanwhile, it has been spotted that the surge has occurred in a channel up pattern. A continuation of the ongoing surge would have to break the resistance of the 2,000.00 mark and the 2022
In general, the Bank of England and Reserve Bank of Australia have been hiking interest rates to combat inflation. However, the BoE has kept their rates always higher during 2023. Due to this fundamental reason, the GBP/AUD currency exchange rate has been surging throughout 2023. From a technical analysis perspective the pair has been surging in a channel up
The broader decline of the European common currency against the Swiss Franc continues. It was spotted in April and June that the pair from time to time finds support and resistance in the 50 and 200-day simple moving averages. Most recently, the pair has remained near 0.9800, as it finds support in the 50-day simple moving average. A passing below
Since March 2023, the USD/CAD has been declining in a channel down pattern. The channel can be attributed to the fact that the US Federal Reserve paused its monetary tightening, as the Bank of Canada continued to battle inflation with rate hikes. Most recently, the pair bounced off the lower trend line of the channel pattern and recovered to
Throughout 2023 the Euro has been descending against the Pound in a channel down pattern. From a fundamental perspective it captures the fact that the European Central Bank has been lagging behind the Bank of England in hiking interest rates. The GBP strengthens, as safe Pound investments pay more and attract more demand. Most recently, the pair has revealed
The top 30 US stock index has been testing a resistance zone at 34,170.00/34,940.00 in June, as the 50-day simple moving average was providing support. Note that the resistance zone has kept the index down since August of 2021. In the case of the index passing the major resistance zone, it would book new 2023 high levels. Next target for
Since early March, the AUD/USD currency pair has been respecting support and resistance zones that are located near round exchange rate levels. Most recently, the pair bounced off a support zone at 0.6570/0.6600. A potential recovery of the Australian Dollar against the US Dollar could be slowed down by the 50 and 200-day simple moving averages at 0.6685 and 0.6750.
The US Dollar has been declining against the Swiss Franc since early November. After an initial drop of the USD/CHF rate at the start of that month, the pair started to trade in a pattern. Namely, the pair's decline has been guided by a channel down pattern. Most recently, the currency exchange rate has found support in the 0.8900 level and
The Pound has been surging against the Japanese Yen since March in a channel up pattern. The pattern captures the difference between the central bank policies of the two currencies. The Bank of England has been hiking rates and combatting inflation. The Bank of Japan has been easing and weakening its currency. Meanwhile, from a technical perspective the pair respects
The next month's volatility index CFD has been finding support in a support zone at 14.85/15.00. Meanwhile, resistance is being provided by the 17.35/17.90 range. A move below 14.85/15.00 would result in the index being at low levels not seen for years. In such an environment fundamental events could cause retracements and reveal support zones. Besides that, look at round levels. However,
The South African stock index has revealed support and resistance zones that the equities continue to respect. Most recently, the index retreated to trade in the support zone at 69,000.00/70,250.00. A passing below the 69,000.00 mark could result in the pair declining to the low level range at 67,000.00/67,550.00. However, the decline could be slowed down by the 68,000.00
The German top 40 stock index has been struggling to pass the 16,300.00/16,500.00 range. In general, the 16,300.00 level marks the 2021 high level. The index approached the high level and bounced off it in May. In June, the price shortly touched the 16,430.00 level. During the late part of June, the index bounced off the resistance and has returned
USA Tech stock index has recently confirmed the upper boundary of a major channel up pattern. The pattern has been guiding the index up since October 2022. In theory, the index should decline to the lower trend line of the channel pattern. However, the descent might be slowed down by the 14,500.00 mark, which has acted as support and
The US tech stocks have continued to trade in the range between the support zone at 10,445.00/10,650.00 and resistance at 11,920.00/12,080.00. In December, the index bounced off the resistance zone and declined to the support. At the start of 2023, it appeared that the support zone had held and the index had recovered to trade near 11,000.00. In the case of a