WTI down by 0.9% to $68.60 currently Invest in yourself. See our forex education hub. The $70 level is a key psychological resistance and that is keeping a lid on the latest bullish in oil over the past two to three weeks. Price is backing away from the figure level to $68.60 currently but it
Technical Analysis
Dow lags and posts the worst day in more than two weeks The major US indices are closing mixed with risk on flows sending the Russell 2000 and NASDAQ indices higher. The broader big cap stocks of the S&P index and Dow declined. The NASDAQ closes 2% from the high S&P closes less than 1% from the high
Dollar stands its ground to start European morning trade The non-farm payrolls “miss” triggered some dollar selling on Friday but I would argue it is mostly because of higher expectations set as a result of the market being somewhat misled once again by the ADP report earlier on last week. There weren’t any major indications
German DAX trade to a new all-time high today. France’s CAC traded to its highest level since 2000 this week the European shares are ending the day mostly higher. The exception is the Spain’s Ibex which is down around -0.5%. For the week, the major indices are mostly higher again with Spain’s Ibex trading in
Swing area between 0.7207 and 0.72122 The NZDUSD followed the dollar lower trend and spiked to the upside. The move higher took the price back above its 100 day moving average at 0.71780. It also moved above the 38.2% retracement of the move down from last week’s high at 0.71977. The high price moved to 0.72087. That high stalled within
Near 100/200 hour MAs and 50% of the week’s trading range The GBPUSD closed last week near 1.4183. The high for the week reached up to 1.42493 on Tuesday. That high took out the high price from February 2021 at 1.4240 (not shown), but only by 9 pips. The move also took the pair to the
CFTC commitments of traders: EUR longs increased. CAD longs increase Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly futures forex positioning data from the CFTC EUR long 109K vs 104K long last week. Longs increased by 5K GBP long 24K vs 31K long last week.
All major indices higher All the major indices are closing the session with gains. The day was led by the NASDAQ index NASDAQ has its best day since May 20 NASDAQ higher for the third straight week S&P has its best day since May 24 Dow and S&P higher for the second straight week A look
Dollar holds steady after the gains yesterday The greenback is sitting a little more mixed across the board but changes are rather minimal so far on the day. EUR/USD is resting in a 28 pips range with USD/JPY only trading in a 19 pips range as European traders enter the fray. Risk sentiment remains rather
Dow snaps five they win streak The NASDAQ index is leading the decline with its biggest decline in three weeks. It also increases the up one day/down the next day string to 11 consecutive days. S&P index is down for the second time in three days Dow industrial average snaps it’s a five date when
The dollar keeps slight gains across the board for now This is something similar to what we saw yesterday and the ranges of the moves are still keeping in tune with what has been transpiring throughout the week. EUR/USD is back under 1.2200 and keeping below its key hourly moving averages but swing region support
Major indices little changed The US stocks gave up most of their earlier gains but still found some buying near the close and are closing higher on the day. The Dow industrial average has extended its winning streak to 5 trading days. The Dow is 2% from its all-time high The S&P is up 4 of the last 5 trading days. The S&P
However, it is not saying a lot in the grand scheme of things The greenback sits higher on the day as it catches a bid across the board, with EUR/USD falling back below 1.2200 to 1.2180 and GBP/USD marked down to 1.4125. That said, the moves are consistent with the recent push and pull in
Nasdaq modestly lower. Dow higher It is a mixed market in the US equities today. The Dow close higher for the fourth consecutive day The S&P index snapped its three day winning streak and closes near session lows. The index got within four points of its all-time intraday high The Nasdaq close lower energy sector closes 4% higher Russell 2000 up three
GBP/USD falls from 1.4220-30 to a low of 1.4185 on the session Invest in yourself. See our forex education hub. This comes with the greenback also erasing losses against the euro, yen, franc and kiwi on the day. Even the aussie is back to its post-RBA levels now with AUD/USD at 0.7740. The turn for
WTI up 1% just above $67 currently Oil is trading close to its best levels for the year and from a technical perspective, may be set for a surge of gains if it can hold a daily close above $67 with a firm break above the $68 level preferable for buyers to extend the upside
WTI up 1% on the day Oil has climbed above the May highs and yesterday closed at the highest since 2018. The March high of $67.98 is now in range. The was a report yesterday that OPEC+ would stick to the script through July at Tuesday’s meeting but there’s a big question mark about what
Its month end too The US the stock market is opening with relatively modest and similar gains across the major indices. Remember, it is month end today (the stock market will be closed on Monday for Memorial Day). That could lead to flow data and increased volatility. A snapshot of the market currently shows: S&P index up 12.18 points or