Dollar selling takes the pair back to the downside The USDCAD and retraced all its gains from the day. The low from the first hour of trading in the Asian session reach 1.20635. The price just dipped to a new session low for the day at 1.20629. All the declines have occurred in the last 2+
Technical Analysis
Lows stalled at 61.8% retracement of last move higher The NZDUSD has snapped up to retest the 100 hour MA at 0.72587. The pair has found sellers on the test, but be warned, the London fixing is approaching at the top of the hour. Anything can happen. For the week, the low was reached on Monday. That low
Major indices higher for the week/higher for the month The major European indices have moved higher on the day and the week. With most European it’s open on Monday, there is still one more day of trading for the month. However, the major indices are all trading higher for the month as well. A look at the provisional closes
A look at FX monthly performance and the chart The pound was easily the best performer this month gaining 2.68% against the US dollar, followed by CAD and CHF. The yen was the laggard, down 0.45% and AUD was the only other G10 currency down against the dollar. A big move in GBP/JPY came yesterday
The dollar is holding gains across the board The moves are modest but not really attracting too much attention for the time being, though NZD/USD is dragged down to 0.7240 from near 0.7300 earlier in the day. More on the technical implications for the move on the pair here. Elsewhere, EUR/USD is keeping just below
Dow and S&P up for the second straight day. The major indices are closing with modest changes on the day. The Dow is leading the way with a gain of 0.4%. The Dow and S&P are up for the second straight day The NASDAQ remains on track for its 1st monthly loss since October Dow and S&P are both on track
Nvidia releases earnings after the close the major US indices are ending the session with mixed results. The Dow 30 is closing lower. The Russell 2000 index up small-cap stocks is closing up around 2%. The Dow and S&P are on track for a monthly gain the NASDAQ remains on track for a down month.
Small-cap stocks are leading the way The Russell 2000 index of small cap stocks are now up over 2% on the day. The index leads the moves higher in the major US indices.. While the small cap stocks move higher, the larger big cap stocks of the Dow 30 are trading back to unchanged on the day
NZD/USD keeps just above 0.7300 for now but isn’t running away with it Invest in yourself. See our forex education hub. The kiwi is the best performing major currency so far today after the RBNZ was more hawkish than expected, with forecasts projecting a rate hike in 2H 2022. That has seen the kiwi shoot
The sellers could not get below the downside targets, leading to a bounce back Earlier today, the GBPUSD sellers made a play against the 200 hour MA (green line – see earlier post HERE). Sellers were leaning. The price did go down, but the price could not extend below the next target area at 1.4100
EUR/USD searches for a breakout, runs up to 1.2250 Invest in yourself. See our forex education hub. EUR/USD is up to its highest levels since early January, threatening a firm break above the February high of 1.2243. With USD/CNH breaking to its lowest levels since 2018 and breaking a key technical region, that may yet
Will the sellers push lower now? The USDJPY on Friday and again today, moved above the 100 hour moving average on a number of hourly bars (10 to be exact). Of those 10, two of them closed above the MA, only to have the price rotate back below (and close below), and the very next hourly bar. The
Dow leads the way to the upside today The major indices are opening higher as traders look for a positive close the end of the week. The first three days of the week saw major indices fall. Yesterday, the prices is rebounded, and that momentum is rolling over into today’s trading. A snapshot of the market
The 100 hour MA comes in at 0.8998 The USDCHF traded to the lowest level since February 24 today after taking out the low from Tuesday’s trade at 0.89597. However, the moves below that low (there were 2), both failed today (the lowest low reached 0.89531). After the 2nd failed run below the Tuesday low, the sellers turned buyers and was
Can the price remain below the MA line now? The price of the NZDUSD has been on a volatile ride today. In the Asian session, the price wanted to the downside but found support buying near the 100 day MA. The moved to the upside in the European session took the price above its 100 and 200 hour moving averages
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NASDAQ index and S&P closes lower. The US stock indices are closed for the week. The NASDAQ index was the weakest of the majors today. The Dow industrial average closed higher. The S&P was marginally lower: NASDAQ index posts first weekly gain in five weeks NASDAQ post the fourth negative session in five Dow, S&P
UK FTSE 100 lower on the week The European major indices are ending the day mostly higher. The snapshot of the provisional closes are showing: German DAX, +0.4% France’s CAC, +0.7% UK FTSE 100 , flat Spain’s Ibex, +0.8% Italy’s FTSE MIB, +1.0% For the week, the UK FTSE 100 felt modestly. The other major indices were higher: German DAX, +0.14% France’s