Technical Analysis

Another case of the summer lull casting itself over Europe today The greenback is mostly little changed across the board, though the euro and yen are keeping mild gains of 0.1% against the dollar in European morning trade so far. That said, the moves aren’t anything significant with EUR/USD still keeping below the resistance region

Takes out the low from yesterday’s trading The GBPUSD has been steadily moving lower over the the course of the NY session and has just moved below the low target from yesterday’s trading below 1.38022 and also below the natural support at 1.38000. The low 1.37935 so far. Looking at the hourly chart, the pair is testing/dipping

It has been a snoozefest of a session so far Major currencies are keeping in narrow ranges and are still within 10 pips of one another on the day, as the mood couldn’t be more dull in European morning trade. To keep things flowing, let’s take a look at some dollar pairs right now and

Nasdaq lower for the 2nd consecutive day The Dow and S&P closed at record levels for the second consecutive day. The NASDAQ closed lower for its second day of declines.  The Dow closed at a record for the 32 time this year The S&P closed at a record level for the 46th time this year The Dow closed near its

USD/JPY inches up to five-week highs The dollar sits in a good spot to start the day as it continues the more solid momentum from last week, with the US jobs report on Friday providing a springboard for the greenback to push higher against the rest of the major currencies bloc. In particular, the rise

What levels are in play for the EURUSD and the GBPUSD. Are the bottoms in place The GBPUSD and the EURUSD both nearly reached some key downside targets.. For the EURUSD, the pair got within 4-5 pips of the 2021 low for the year and has bounced modestly.  For the GBPUSD the pair reached the

Buyers look to buck the trend in search for fresh upside momentum The pair is up slightly on the day to 110.45 currently, as 10-year Treasury yields hold its ground at around 1.315% to get European trading underway. With yields continuing the rebound and holding above 1.30%, that is providing an impetus for yen pairs

Dow and S&P snap 2 day win streak The US stocks are closing mixed with no records set today.  Last week on Thursday, both the S&P and NASDAQ closed at record levels. On Friday, the Dow and S&P closed at record levels.  Today although the Nasdaq rebounded higher, it fell short of its record close.  The S&P and Dow both closed lower and with

Oil down by more than 3% below $66 currently Invest in yourself. See our forex education hub. It is shaping up to be a brutal start to the new week for oil, as price sinks further by more than 3% and is taking out some key technical levels along the way. The latest drop sees

ADP payroll and ISM trump the US job gains. The NY Fed Nowcast estimate for 3Q grown slowed to 3.7% from 4.2% last week.   How can that be given the strong US jobs report? Indeed the nonfarm payroll added 0.18% to the weekly change in the NY Fed’s model. However, those gains were trumped this week, by the ADP jobs

German DAX pressures that the all-time high but backs off The German Dax move to a intraday high today of 15808.24. That was just short of the July 44 high of 15810.68. The inability to make a new high led to some rotation back to the downside.  Nevertheless, the German DAX index is closing marginally higher

Trades between 100/200 hour MAs The NZDUSD has followed the trend higher in the US dollar today (NZDUSD lower) after the stronger than expected US jobs report.  The pair moved lower, and in the process cracked below its 100 hour moving average (currently at 0.70328), and continued through an old swing ceiling at 0.7018  to 0.70203 on it’s

Swing area between 1.1751 and 1.17566 The EURUSD is keeping above the July 2021 swing lows between 1.17510 and 1.17566. The low price has so far reached 1.17537 between those swing low levels on the hourly chart.  Dip buyers are sticking a low-risk toe in the water, hoping for another bounce.  A break below will likely lead to

Yesterday the S&P and NASDAQ close record highs The stronger-than-expected US jobs report Helped send the Dow 30 stocks higher in trading today. The S&P index was mixed but also close marginally higher. The NASDAQ index fell on the back of the potential for higher rates slowing down some of the high flyers. Whereas yesterday,

EUR/USD eases down 0.2% to a low of 1.1808 There isn’t much else happening in the market at the moment as we continue to count down to the US non-farm payrolls release later at 1230 GMT. The euro is a touch on the softer side as we see the narrow ranges for the day stretch

Russell 2000 index rises by 1.81%. The S&P and NASDAQ index both closed at record levels with a late day surge that has the indices going out near the highs for the day.   The Dow and the Russell 2000 index also had strong days, with the small-cap index outpacing the larger cap indices with a surge higher of

Dollar holds its ground ahead of European morning trade The dollar got a decent lift on Fed vice chair Clarida’s remarks yesterday and is holding gains for the time being as we look towards European morning trade. Of note, USD/JPY is posting a decent advance to 109.60 levels after the rebound off 109.00 yesterday and

Dow moves down over -300 points. S&P down after record close yesterday The major indices are closing mixed. NASDAQ closes with a three day win streak S&P closes lower after yesterday’s record close Dow, S&P close near session lows Dow was down -325 points at the low. Close just off that low level Dow has its