The 1.1359 to 1.13684 swing area was broken on Friday on the Russian/Ukraine war fears (see red numbered circles). That level held support earlier in the day on Friday (see post here). I warned in that post that the Russian/Ukraine news was still a potential news item that could lead to a break lower. That
Technical Analysis
The EURUSD rallied last week on the back of a tilt in the ECB toward the possibility of a tightening in 2022. That tilt was expressed last Thursday after the ECB rate decision (see spike higher on February 3). The run to the upside stalled on Friday near swing highs from January 13 and
As the London/European traders look to exit for the weekend, the snapshot of the market currently shows the CAD and GBP as the strongest of the majors, while the EUR is the weakest. The EURGBP is one of the weakest pairs with a decline of -0.51% on the day. However the pair is finding support
All the balls are in motion as the Russia/Ukraine situation intensifies Yields are low with the 10 year down -6.1 basis points on the day at 1.968%. The high for the day reached 2.063% The price of crude oil moved up to a high of $94.66. That took the price above the February 4
The USDRUB has indeed moved higher (lower ruble) on the back of the Russian escalation and expectations that an invasion is imminent. Looking at the daily chart the price rise has seen the price move up from 74.94 at the close yesterday to the current price of 77.36. The high reached 77.15. The high is
The US major indices are closing sharply lower with the Nasdaq leading the way. The final numbers are showing: Dow fell -503.53 points or -1.43% at 34738.07 S&P fell -85.42 points or -1.90% at 4418.65 Nasdaq fell -394.48 points or -2.78% at 13791.16 Russell 2000 fell -21.01 points or -1.02% at 2030.14 Some
There is a CNBC article that is making the rounds saying that the Fed is likely to still take a measured approach to rate hikes. That has US stocks moving back into the unchanged/positive territory. The USD is moving lower. EURUSD : The EURUSD edged back up toward unchanged levels and is back up
The NASDAQ index is trading at session lows at 14198.78. That price is testing a swing area between 14198 and 14222. The level corresponds with swing highs from February 2, February 7, February 8, and the low from earlier in the day. Yesterday, the price gapped above that swing area and today, the price
The US CPI data will be released at 8:30 AM ET. the expectations are that the YoY will move up to 7.3% from 7.0% (another new 4 decade high). The MoM is expected to rise by 0.5% vs December. The Core YoY is expected at 5.9% vs 5.5% last month. Ahead of the release, the
The major US indices are all closing higher on the day and near session highs. The Dow is up for the third consecutive day The Russell 2000 is up for the fourth consecutive day the Dow is closing 2.8% from its record high close S&P is closing 4.4% from its record high close(4.8% from
As the North American session begins, a better tone is evident in the markets. The NZD and AUD are the strongest of the majors, while the USD and JPY are the weakest. That combination is congruent with “risk on” flows. Indeed US stocks are higher in pre-market trading and European equities are also higher. Yields
The major US stock indices are trading near their highs for the day. A snapshot of the market currently shows: Dow industrial average up 352.54 points or 1.01% at 35447.29 S&P index up 34 points or 0.75% at 4518.00 NASDAQ index up 158.18 points or 1.13% at 14174 point Looking at the Dow industrial average,
The AUDUSD is trading to a new session high as the NY session quietly heads toward the close of the day. There is a new push up in stocks with the Dow leading with a 200 point gain. The S&P have turned back into the black but off the highs for the day. Looking at
Earlier today I posted on the USDCAD (see “The USDCAD retraces back to the 100/200 hour MA. This is the place to buy if you like the upside“), that the 100 and 200 hour MA were being tested at 1.2702 and that: “If it is time to buy, it would be against those two MAs
The US jobs report expectations was tilted to the downside pre-report as a result of omicron and all the premarket data. However it came in much stronger than expected at 467K versus 150K estimate. The two month revision was a whopping +700K. What? What has been the fallout from the surprise gains? US stocks in
The USDJPY spiked higher with the USD after the better than expected jobs report. The pair moved up to a high price of 105.387, but has backed off to 115.13. The current price trades at 115.245 between those extremes. Looking at the hourly chart, the 115.03 to 115.113 has been a swing area going back
The AUDUSD moved lower in the late Asian session and continued the run to the downside in the European session. The pair stalled near the 50% midpoint of the 2022 trading range near 0.71403 (the high reached 0.7150) yesterday, the price spiked up to 0.71677. On Wednesday, the high price reached 0.71588 before coming back
The EURGBP continued its move to the upside today, a day after the ECB hinted of potential tightenings in 2022. Yesterday the pair swung from a new low going back to February 2020 – taking out the January lows at 0.83048. Looking at the daily chart, the low for the day stalled against the lower