The USDCHF fell below its 200 hour, 100 hour and 100 day moving averages yesterday but bottom near a swing area between 0.9186 and 0.9190. Today that swing area was respected again at the session lows. The price moved higher and was able to get above the 100 day moving average at 0.9212, but stalled
Technical Analysis
The USDTRY has had an extraordinary run over the last few days. That came after an huge run to the upside for the pair. On Monday, the pair soared to a high of 18.349. That was up from 6.89345 back at the lows in February. Since then the price has been tumbled back to the
The S&P index is moving closer to its all-time high close. That level comes in at 4739.72. The high price just reached 4733.19. The price closed last week at 4620.65. On Monday the index gap lower reaching a low price of 4531.10 before starting a three day rally that has seen the index move up
The GBPUSD closed the 2020 year at 1.3662, and spent the first 37 trading days working its way to the upside. A swing high was reached on February 24 at 1.4240 (578 pip from the year end close), before correcting down to 1.3668 at the end of March and early April – just above the
The EURUSD has seen the price move down in 2021. In fact the high for the week was reached in the first week of the year (on January 6) at 1.23488. The low for the week was reached toward the end of November at 1.11853 (on November 24). The high low range was around 1163
The NZDUSD has been trading in an up and down trading range today after the sharp rise higher yesterday. The price action has been mostly center between the lower swing area between 0.6798 and 0.6806 and a higher swing area between 0.6833 and 0.6838. There have been modest breaks of those swing areas both on
Up $0.20 on the day or 0.39% The price of crude oil futures are settling the day at $50.95. That is up $0.20 on the day or 0.39%. The high price reached $52.20 The low price fell to $50.24. Looking at the hourly chart above, the price high did stall against its 200 hour moving
Buyers are scoring back on run back above swing levels/highs The USDJPY ran higher yesterday on the back of higher rates and US dollar buying. The pair moved above the old high going back to October 20 at 114.691. The price also moved above the November 2017 swing high at 114.728. It wasn’t until last
Tentative moves in the markets today The GBP is the strongest and the EUR is the weakest as NA traders enter. The Eurogroup members failed to agree on financing for the unions fiscal response. The failure to agree is putting some pressure on the EUR today. The GBP is the strongest, but the gains are
Markets are misbehaving… The markets are misbehaving. The market broke after Texas reported a surge in hospitalizations, but the pattern being developed that it will take more than a region to bother the markets. Moreover, the hope regarding coronavirus now in the US is just plow through it. If you are vulnerable, take care of
EUR/USD falls back below the 25 February high to a low of 1.2233 The euro is struggling to build on upside momentum today and part of that reason may owe to a bit of mixed commentary by the ECB as of late. Panetta’s comments here isn’t getting much attention but it is worth taking note
Highlights of the debate E-mini was trading down -4.58 points at the start of the debate. Pres. Trump A vaccine will be available in weeks Vaccine is not guaranteed but will be coming by the end of the year there will be no dark winter for Covid we are learning to live with the virus.
200 hour moving average stalled the fall The Canadian job report was stellar with a employment change of 153.7K much higher than the expectations of 35K. The unemployment rate tumbled to 6.0% from 6.7%. Job gains were split between full-time and part-time employees. The USDCAD move down sharply off the initial report, but stalled right near its 200 hour
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NASDAQ down over 2%. S&P down over 1% The markets are in flux after the US jobs report and market reactions. US yields have turned lower in the longer end. The two year yield is still higher on the day by 1.0 basis points. The NASDAQ continues to lead the way to the downside. The
Swing lows come in at 0.6991 to 0.7005 The AUD is the weakest currencies on the day, and the pair is pushing to a new 2021 low and moves toward the swing lows from October in September 2020. Those levels come in between 0.6991 and 0.7005. The low price just reached 0.7013. A move below that floor area would increase the bearish
WTI crude up nearly 3% on the day to $68.50 at the moment It seems like the old “buy the rumour, sell the fact” play (opposite side this time) is working out for oil as price continues to climb in the aftermath of the OPEC+ decision. Even though OPEC+ chose to keep restoring supply in January,
100 hour MA at 1.1311 With the US employment report out tomorrow morning, the EURUSD rotated back below the 100 hour MA at 1.1311. The price moved below that level around the time London traders were heading home, and stayed below. That’s the bearish news. The not so bearish news is that the price remains: