What levels are in play for some of major currency pairs EURUSD: The EURUSD trended higher in the Asian and into the European session and in the process moved above the high from last week at 1.16238 and the high from October 4 at 1.1640. However, the pair stalled at 1.16687 which was a few pips short of the
Technical Analysis
Current price trade above its 100 day moving average but below its 200 day moving average The GBPUSD trade above a swing area and 61.8% retracement between 1.37208 at 1.3733 on Friday (see lower yellow area in the chart above), and corrected lower during trading yesterday. The price did dip below the 61.8% retracement level on a few hourly bars
Price trades at the highest level since June 17 The EURJPY is up for the eighth straight day. In the move higher, the price last week extended above both its 200 day moving average (currently at 129.91) and the 100 day moving average (currently at 130.433). There has been little in the way of a correction since the breaks. The price is
200 hour MA stalls the fall today The EURUSD is back up and trading to a new day high in early US trading. The move higher only came after an Asian session move to the downside bottomed against the 200 hour MA at 1.15692 level (green line in the chart below). Also near that level
German DAX tests its 100/50 day moving averages the major European indices are closing higher for the day and also closing higher for the week. The EuroStoxx 600 index rose by 2.6%. This was the best week since March.. UK’s FTSE 100 is trading at 7 month high. The German Dax test its 50 and
Test of 100 hour MA at the high, finds sellers. The USDCHF on the hourly chart below, shows an up and down kind of day. That is the reverse of yesterday’s day which saw the price first move lower, before snapback higher. The run higher today reached up toward the 100 hour moving average and the 38.2% retracement
What are the charts saying for the major currency pairs. Heading into the new trading week, what key technical levels are in play that traders around the world will be watching (and why?). Below are the stories….. EURUSD: The EURUSD traded to a a new low for the year this week taking out the October 6
The NASDAQ back above its 200 hour moving average. S&P running away from its 50 day moving average The major US stock indices continue to move higher. With the S&P index up about 34 points or 0.77% at 4473. The NASDAQ index is up about 70 points or 0.48% at 14894. For the S&P index, it close
Dow has a two day win streak two end the week The US stocks are closing higher across the board with the Dow industrial average leading the way with a gain over 1%. S&P and NASDAQ end the week with a three day winning streak Dow ends with a two day winning streak Dow is
Dollar bid… a bit after retail sales The EURUSD has moved back down toward the Asian session low at 1.1587. The low price just reached 1.1588 after the better than expected retail sales. The current price is trading at 1.1594. Looking at the hourly chart, the low price still remains above the swing area between 1.1583 1.1586 (see
The key bias and technical levels for some of the major currency pairs The trading day is coming to an end with stocks moving sharply higher. That dynamic has the flow of funds into the “risk on” currencies including the NZD, CAD and AUD. Those three currencies are the strongest of the majors. The biggest loser is the JPY followed
The USD is weaker on “risk on’ flows. As the North American session begins, the NZD is the strongest of the majors, while the JPY is the weakest. The USD is also weaker as “risk on” flows dominate. US stocks are higher in premarket trading Citigroup just announced earnings and beat on both the revenues and earnings per share. The US/European yields are lower.
The 1.2422 area was swing lows from July 7, July 14 and July 30. Have not been there since. Back on July 6th, the USDCAD broke higher only to retrace to 1.24215 on July 7th.That level was later retested on July 14 and again on July 30th and each time the price bounced. That was
..New high but just barely (at least so far). The USDJPY moved up after the CPI data today and in the process took out the high price from yesterday but only just barely. The high yesterday reached 113.783. The high price just reached 113.798 but backed off. The current price is trading at 113.64 as I type. The
Stocks struggle to move higher The US stocks could not sustain positive levels and drifted lower into US afternoon. The major indices are closing lower for the third consecutive day. At the close, Apple announced that they would have to cut production of the iPhone due to chip crunch. Apple shares are down -1.1% after the close.
Moving away from 100 hour MA after trading above and below today The EURUSD is moving to a new low for the day in early US trading. Even so, the pair is in a narrow 26 pip trading range (it was 23 pips before the modest expansion). The next target is the low from Friday
Stocks still off into the close The US stock indices sold off into the close and are closing near the low levels for the day. The Dow and S&P are lower for the 2nd consecutive day Utilities and Communications lag Materials and Real Estate lead A look at the indices at the close show: Dow -249.40
Yields not influenced by jobs data The US yields have not been influenced in a negative way by the lower nonfarm payroll data. Nuances in the number and higher wages may be the counterbalance, along with expectations for a rebound next month. The 10 year yield is up 3.6 basis points at 1.607%. The five year yield is comfortably above