The EURUSD moved lower after the US jobs report. The price extended back below its 100 day moving average at 1.14281 the low price reached 1.1411 before bouncing back higher over the last few hours (see hourly chart above). That rebound back to the upside has now moved the price back above the key 100
Technical Analysis
The USDCHF this week moved down on Monday, Tuesday, and Wednesday (3 straight down), consolidated up and down on Thursday, and corrected higher today. The move to the upside today extended above the 100 day MA in the early European session, and corrected down to the 100 day MA one last time before heading higher.
The price of the EURUSD continues its run to the upside and as extended above its 100 day moving average for the first time since June 16. The next target is the high from January 13 at 1.1482. That is near the 50% midpoint of the range in the EURUSD since 2020. (see earlier posts
The BOE raised rates by 25 basis points with dissenters in the 5-4 vote leaning to 50 bp rise. That initially sent the EURGBP to the downside. However, after Lagarde started to switch course for the ECB, it was “fast break the other way” for the EURGBP with the price racing toward the high from
The USDCHF is on its third consecutive down day after the high on Monday took out the high from last week but only by a few pips. The move to the downside has seen the pair moved below the 100 hour moving average currently at 0.9271, the 200 hour moving average currently at 0.9222, and
The AUDJPY saw the price move higher yesterday after an initial move lower after the RBA decision, but then rebounded higher The move back to the upside was able to get above its 200 hour moving average (green line currently at 81.379) and also above a downward sloping trendline near 81.72. The price also moved
At the end of last week a handful of charts were looking grim, pointing to the potential for an ugly turn in risk trades, prompted by a surprisingly dovish message from Fed Chair Jerome Powell. This week though, there have been some stark turnarounds, potentially invalidating the moves. I want to highlight three. 1) AUD/USD
The major US indices are closing higher and near the highs for the day for the 3rd day in a row. After the close alphabet Q4 results saw a beat on the revenues and earnings per share. They also announced a 20:1 stock split. The price of Alphabet is trading up $137 or 4.98% it
The major US indices are now all positive with the NASDAQ leading the way. The S&P index is up as well by 0.82% after opening near unchanged. Technically for the S&P index, it has moved back above its 200 day moving average currently at 4436.50. The current price is trading at 4468.34, up 36 points
The USDJPY moved up in the early Asian session and in the process moved up toward a swing area between 115.61 at 115.67 (see red numbered circles). That area was an old floor going back to early January. On January 10, the price broke below that level and stayed below that level until Friday’s trade
The major US stock indices have turned positive on the day. The gains are led by the NASDAQ which is currently up 201 points or 1.53% on the day The Dow industrial average is up 50 points or 0.14% at 34207 the S&P index is up 35.7 points or 0.83% at 4363. The Russell 2000
The USDCAD has been up 4 of 5 days this week. The low was made on Monday at 1.2553, and that level was tested again ahead of the Bank of Canada decision on Wednesday when the low reached 1.2558 (just 5 pips from the low). The BOC kept rates unchanged. The market was leaning -70/30
The AUDUSD fell to a new low going back to July 2020. In the process, the price fell below the 2021 low at 0.6992. The low price reached 0.69669 and stayed below that level for around three hours before rebounding back above. The last 5 hourly bars has seen the price trade above and below
Today is the seventh consecutive day of declines in NZD/USD. Even with a better mood in markets today, the pair is down 40 pips to 0.6542. Yesterday it was largely a broadly strong US dollar pushing the pair down but the kiwi is uniquely soft today, along with the Australian dollar. The weekly NZD/USD chart
The EURGBP bottomed last week at 0.8305 (on Thursday), and shot higher peaking at 0.84218 on Monday of this week. The high price on Monday, was able to extend briefly above the 38.2% retracement of the move down from the December 8 high to the low price reached on January 20. That level came in
The EURUSD is looking to go into the weekend with the bearish bias intact. Looking at the four hour chart above, the pair fell below the low from 2021 (from November) during yesterday’s trade at 1.11853. The corrective move off of the low today at 11207 could only extend to a high of 1.1173 before
The post-Fed sentiment was the catalyst for the latest leg higher in the dollar this week. Powell & co. offered a more hawkish tilt and that was enough to see markets scramble to price in five rate hikes by the Fed this year. In turn, the dollar has surged higher as yields also climbed –
It wasn’t long ago that the headlines were extolling the valuation of Apple extending above $3T. Since the price reached that milestone back on January 4th, the price has been moving down and down since. Of course the overall market is lower as well. The price of Apple is currently down about 13.4% from that