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
Technical Analysis
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
The major US indices have moved lower and into the red for the day, as the press conference progresses. The USD has moved higher and the yields have move higher. The US 10 year yield is now trading at 1.848%, up 6.3 basis points on the day. The 2 year is up a similar amount.
The snapshot of the market just ahead of the Fed decision saw: Spot gold is trading down $18.50 or -1% at $1829.40 Spot silver is trading down one cent or -0.06% at $23.77 WTI crude oil is trading up $1.74 at $87.34 Bitcoin is trading at $38,096 2 year yield is at 1.03% 5 year
The EURUSD moved down to test a swing area between 1.1260 to 1.1263 (see earlier post) and found risk focused traders willing to stick a toe in the water (with stops below). The price has moved back above the broken trend line and 1.1285 swing area, and has seen more upside probing (as expected from
The Dow tumbled over 800 points. Yesterday, the index fell over 1000 points. And for the 2nd day in a row, the losses have been erased.The Dow currently trades up about 50 points or 0.16% at 34417. The high price reached 34431.56. Looking at the daily chart, the down did reach down -10.25% from the
The EURUSD has rebounded in the North American session. The low price on the hourly chart did find some support buyers ahead of the swing lows from January 6 and January 10 between 1.1283 and 1.1285. The low price reached 1.12897. I was also near a downward sloping trendline connecting lows from last week. The
The USDJPY has seen more up and down price action today continuing the price action seen on Friday. The pair did move below the low from Friday’s trade, but found support near the low from January 14 at 113.474. It dipped briefly below the level to a low of 113.464, but quickly rebounded. The subsequent
The major US indices are continuing the move to the downside with the NASDAQ down over 200 points. The S&P index is down around 40 points. Looking at the S&P daily chart, is approaching its 200 day moving average. That level comes in at 4429.41. The low price today reached 4437.25 (the price is currently
The USDJPY has seen a down, up and back down day. The last move to the downside has seen the price retest the earlier low for the day and also a swing low level going back to last Friday’s trading (see blue numbered circles. The pair did move below that level a week ago on
The EURGBP moved to the lowest level since February 2020 yesterday reaching 0.8305. That took out the previous days low at 0.83124 and also moved below a swing area on the hourly chart at 0.83219 to 0.83242 (see green numbered circles). T The price did bounce off the low, however, and closed marginally above the
The USDCAD buyers are making a play today. Here are the technical reasons: The price low yesterday stalled ahead of the price low from Wednesday. The low reached 1.2452. The low from Wednesday’s trade reached 1.24476. Moreover the low from yesterday was near the low from January 13. So overall there were three lows within
Yesterday, I posted about the GBPJPY . The pair had continued to find support against a floor at the 155.39 to 155.44 area, but also found resistance against the falling 100 hour moving average (blue line in the chart above). Something had to eventually give, and that was the floor. Once the price broke
The price of WTI crude oil futures are settling at $85.14 to end the trading week. That is down $0.41 or -0.48% on the day. The high price reached $85.56. The low reached $82.78. The high prices reach reached $87.10. The low for the week was on Monday at $81.58. The high price was a
The AUDUSD trading low for a world higher stalled near key resistance. The AUDUSD moved higher earlier today on the back of a strong jobs report for December 2021. The unemployment rate fell to its lowest since 2008 and near a 50-year low. The total employment change was stronger than expected as well. Below are
The major indices gave up solid gains on the day and are closing at the lows for the second consecutive day. The NASDAQ index and Russell 2000 were the worst performers as investors rushed for the exits.. The Dow industrial average gave up a 462 point gain and is closing down -313 points. The S&P
The Dow and S&P are trading at session lows. With the declines, the S&P is now more comfortably below its 100 day moving average of 4576.85. The current price is trading at 4560, down 16.88 points or -0.37%. Meanwhile the Dow industrial average is also below its 100 day moving average at 35412.12. The 200