As tensions increase once again in Ukraine, the GBPUSD has seen a move lower and back below its 200 hour moving average at 1.35766. The price ran to a low of 1.3553 so far. That is just above the 50% midpoint of the 2022 trading range for the pair. The GBPUSD remains in a narrow
Technical Analysis
The NASDAQ index is trading below the lowest close going back to May 2021. The low close this year was on January 27 at 13352. The current price is trading at 13298. The high price for the NASDAQ was at 16212.23 back on November 23. The index is now down around 18% from its intraday
The GBPUSD fell yesterday and in the process tested its 100 hour moving average (blue line in the chart above). In the Asian session today, the price moved below that moving average line, and then retested the line on two separate other occasions (one in the Asian session and another during the early European
The markets have shifted on the Russia/Ukraine most recent headlines. The premarket for US stocks have tilted to the downside: Dow -33 points S&P is down -2 points Nasdaq is not unchanged In Europe, the major indices also the turned down with the German Dax now down over -1%. The Spain’s Ibex is down -0.9%.
The EURUSD has dipped back to retest its 100 hour moving average and 38.2% of the 2022 trading range. That level comes in at 1.13516. The pair is trading just above that level as I type. Recall from yesterday, the price in the New York session traded mostly between its 100 hour moving average
GBPUSD tests 61.8% and swing area The GBPUSD is in an up and down day. The GBPUSD moved higher earlier. That move was helped by better than expected retail sales. However the high price today stalled near the high price from last week near 1.3643, and rotated back lower on the USD buying. The
The USDJPY moved higher in the Asian session helped by the Lavrov/Blinken meeting announcement. The USDJPY moved higher as did stocks but the pair stalled well ahead of its falling 100 hour MA currently at 115.378 (blue line) and just above the broken 38.2% at 113.236. The high reached 115.29. The move down in
The dollar has moved higher on the large explosion news out of Dontsk. The explosion is reported to be a car bomb. It may be the false flag that kicks off a bigger offensive by Russian troops, but the market is taking comfort it wasn’t mortar. Nevertheless, the uncertainty increases The move higher in the
The Nasdaq is down 3.5% from the close on Wednesday. The S&P is down about -2.35% (they are bouncing from lows too). Those types of declines would typically lead to “risk off” flows out of pairs like AUDUSD. However, over that time period the price close on Wednesday was at 0.7194, while the current price
The WTI crude oil futures are settling at $90.21. That is up $0.17 or or 0.18%. That is for the April contract. The high for the day reached $91.07. The low extended to $87.46 The March contract settled at $91.07 down $0.69 on the day. A week ago, the price closed the day at $93.10.
The USDCAD remains stuck in the mud and the tires are going deeper and deeper. The low to high trading range is only 45 pips that is well below the 81 pip trading range over the last 22 trading days. The low today tested the low from yesterday at 1.2673 (the low reached 1.26726).
US stock losses have accelerate to the downside into to the day close. Some of the negative highlights for the day. The Nasdaq is down near 2.8% S&P tech sector down near 3% The major indices are down for the week Dow has it’s worst day in 2022 Nvidia falls -7.5% AMD -4.47% Paypal -4.8%
The price of gold is trading up $24.60 or 1.32% at $1893.70. The price is being pushed higher on flight to safety as Russian/NATO/US tensions increase. The respective parties are not getting any closer toward a friendly agreement. Looking at the daily chart, the price has now moved above the 50% midpoint of the move
The price of crude oil has tumbled lower over the last few hours, and in the process has pushed back below its 100 hour moving average at $92.59 and 200 hour moving average and $91.60. The low price reached $90.94. Yesterday the low price reached $90.65 before snapping back higher into the close and into
The EURUSD moved higher overnight as the market took more of a breathe after the de-escalation on the Russian/Ukraine border yesterday. However, there has been more and more chatter about how the de-escalation is more in language versus reality. The US retail sales was better as well this morning which has helped to pressure
The major US stock indices snapped a three day losing streak. The gains were led by the NASDAQ and the Russell 2000. The Dow 30 lagged. The snapshot of the closing levels shows: Dow industrial average +422.67 points or 1.22% at 34988.85 S&P index up 69.4 points or 1.58% at 4471.06 NASDAQ index up 348.85
Yesterday, the EURUSD reached the lowest levels since the ECB meeting last Thursday when ECBs Lagarde did not rule out a tightening in 2022. The low price yesterday reached 1.1279 which coincides with the low price ahead of the press conference from Lagarde. It also was near the high of a swing area between 1.1263
The major indices are ending the day with modest losses. The Dow was the worst performer of the majors, while the Nasdaq was the best performer. The final numbers are showing: Dow -171.89 points or -0.49% at 34566 S&P -16.99 points or -0.38% at 4401.66 Nasdaq -0.23 points or 0.0% at 13790.93 Russell 2000 -9.35