The price of WTI crude oil has tumbled back to the downside, erasing the gains seen starting yesterday ahead of the invasion of Ukraine. The last swing low nearly 24 hours ago bottomed at $91.27 before racing higher and peaking above $100 at $100.50. The price over the last 5 or so hours has seen
Technical Analysis
The EURUSD has not traded below its 2022 low of 1.11207 and in doing so trades at the lowest level since June 2020. The low price has reached 1.1105. Looking at the daily chart, there is natural support at 1.1100. A trendline on the daily chart also cuts across near that level at 1.1096. Break
The GBPUSD has completed the lap up and down that saw the price of the pair bottom yesterday at 1.35375, move up to a high today at 1.3619 and then back down to a low today just below the low from yesterday to 1.35348. The 38.2% of the move up from the January low comes
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
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