USD/JPY shoved lower from 115.05 to 114.50 Invest in yourself. See our forex education hub. This just looks more like a bit of a let out of steam but the overall momentum is still largely sticking, though the greenback is trading more mixed across the board. Treasury yields are holding the advance from yesterday and
Technical Analysis
Swing area between 0.7219 and 0.72254 The AUDUSD is down retesting the low for the day and in the process a low swing area too between 0.7219 and 0.72254. Looking at the daily chart, that area had a number of swing lows and highs on the daily chart (see green numbered circles). On Friday and
EUR/USD down 0.2% to 1.1265 on the day It is tough to pick at support levels for the pair over the past two weeks but the 61.8 retracement level of the swing higher from March last year to January this year @ 1.1290 and the 1.1300 did offer some light reprieve last week before it
Changes for the week are mixed The major European indices are closing the day lower led by declines in the Spain’s Ibex and Italy’s FTSE MIB. The move to the downside were triggered by fears of the Covid resurgence. Austria announced that they would lockdown starting Monday and require vaccinations. Other levels of resurgence in Covid cases are
Trades to the highest level since October 1 The USDCAD moved to a new week high today but has backed off. The high price reached the highest level since October 1 in the process at 1.26613. For the week, the USDCAD traded higher and made new highs each day since Tuesday’s low (although Thursday, the
Fourth straight week of the declines the price of WTI crude oil futures are settling at $76.10. That is down $2.91 or 3.68%. The high for the day reached $79.30. The low extended to $75.079. The low for the day stalled just ahead of the October 7 low at $74.95. That level ss the next
Dow and S&P close lower The US major stock indices are closing with mixed results. Some highlights for the major indices: The NASDAQ index closed at a record level. The index rose 63.74 points or 0.4% to 16,057.45. The index reached an intraday new all time high at 16,121.12. The low extended to 16017.23. The NASDAQ index closed above 16,000 for the first time
Fed speak is starting to weigh a bit The S&P has turned back negative on the day after moving within one point of its all-time record at the day’s high. The high price reached 4717.75. The all-time high is at 4718.50. The current price is trading at 4698.14, down -6.29 points or -0.13%. For the NASDAQ
German DAX -0.18%. UK’s FTSE 100 -0.48% The London/European traders are exiting for the day at the major European stock indices moving to the downside. Below is a summary of the closes, changes, highs and lows from a price and percentage perspective. In other markets as London/European traders look to exit: The major US indices has
The price of the AUDUSD trades mid range in the up and down day The AUDUSD traded to a new low yesterday for the month of November, closing at the lowest level since October 1 (the close yesterday came in at 0.7264). Today, the low price extended down to a new low going back to early October at 0.72488.
Pushing away from the 200 hour MA after earlier apprehension The GBPUSD buyers are making a play in the GBPUSD. The price for the pair moved higher on the higher UK inflation data today, but failed on the first break above its 200 hour moving average (the break above the 200 hour moving average was the first since October
Down sharply on the day The price of WTI crude oil futures have fallen around three dollars a barrel or 3.6%. The price currently trades at $77.85 (December contract). The January contract is down $-2.65 or -3.32% at $77.09. Looking at the hourly chart, the price has now moved below the swing low from November
EUR/GBP drops below 0.8400 for the first time since February 2020 The pivotal level to watch on the day will be the 26 October low @ 0.8403 as the key support level, in which a break below that will solidify added downside momentum. The pair saw its recent bounce capped by key trendline resistance and
The GBP is the strongest of the majors The GBPJPY has broken higher along with the other GBP pair. The pair is up about 0.6% on the day. The climb has seen the pair move back above – and away – from its 200 hour MA (currently at 153.116). The pair is also trying to
Dow industrial average down for the fourth time in five days The major indices are closing lower in the day after giving up earlier gains. Dow industrial average was up 135.76 points at the high S&P was up 14.25 points at the high NASDAQ index was up 57.6 points at the high NASDAQ index snapped
50% midpoint at 0.9224 in the USDCHF The USDCHF move lower earlier in the Asian session and in the process tested the 100 day moving average at 0.9188. The low price reached 0.91866, and quickly rebounded. Sellers turned the buyers, and with the dollar buying in the US session, has sent the price higher. The pair’s run to
100 day MA at 1.25404. The USDCAD closed last week right at its 100 day MA. That MA is at 1.2540. The pair closed at 1.2551 (blue line on the daily chart below). Looking at the week’s price action, of significance technically, was the Bbreak above the 200 day MA (green line) at 1.24711 on
Makes new 2021 highs The US dollar index (DXY) raced above 2021 highs and extended to the highest level since July 22, 2021. The high price reached 95.26 on Friday. In the process, the index took out the High for the year reached last week at 94.62 as well as the September high at 94.56.