Nasdaq and S&P still remains lower on the month The major US indices are closing higher with the NASDAQ leading the charge. All three major indices snapped three days losing streaks The Dow and S&P are on track for a weekly loss NASDAQ is higher for the week and looking to close higher for the first time in
Technical Analysis
Swing area between 0.8983 and 0.895 four The USDCHF opened above its 200 hour moving average earlier today, but when that moving average gave way in the European session, the sellers piled in and pushed the pair lower. After consolidating above and below the 100 hour MA (blue line), traders started to lean against the 100 hour moving average. That was
Down to $2.13 or -3.25% on the day The price of WTI crude oil futures are selling at $63.36. That is down $-2.13 or -3.25%. The high price reached $65.35. The low price was at $61.95. The Vienna nuclear talks with Iran are ongoing and traders are hoping for an agreement. If so, there could be
The USD is higher but off highs for the day As European/London traders look to exit for the day, the JPY remains the strongest and the NZD is the weakest of the major currencies. That was the ranking when the US stocks opened for trading a few hours ago.. The USD was the strongest at the start of
Major indices down for the second consecutive day The US stocks all close near session lows. The major indices are closing lower for the second consecutive day. We have now seen three days down, two days up and the last two days lower in the major indices. A look at the final numbers shows: S&P index -35.54
Encouraged by Iran nuclear talks The price of crude oil has fallen sharply below its 100 and 200 hour moving averages. See Adam’s post here for the news triggering the fall. The price of WTI crude oil futures fell down toward the $64 level (the low reached $64.11). In the process, the 100 /200 hour MAs were
Range is only 42 pips vs 22 day average of 94 pips The GBPUSD is starting the week off with a very slow start. The high below trading range is only 42 pips. The average over the last month of trading is 94 pips. That’s only 42% of the average. Non-trending now, but also is a red alert for an extension (higher
Two day up streak in jeopardy for the major indices The major indices have been up for the last two trading days. That string is in jeopardy today. The major indices are all trading lower at the open. A snapshot of the market currently shows S&P index -9.3 points or -0.22% at 4164.54 NASDAQ index -80.59 points or -0.60% at
Extends toward a swing level at 1.2078. The USDCAD has fallen to a new session low on the day after finding sellers near a swing area between 1.21297 to 1.21355. Recall from last Thursday the price based at the 100 hour MA, moved through the 38.2% of the last move lower at 1.21617 and above
Lower on the day, but waiting for the next shove The USDJPY is lower on the day after a run higher found sellers near a upper swing area between 109.42 and 109.48 (the high reached 109.496 and quickly retraced lower). The move to the downside has seen the price chop to the downside. There have been a lot of ups and downs
Overhead resistance targets lining up The AUDUSD trended lower, and started the NY session near the lows for the day. The low bottomed at 0.7730. There was nothing special technically about the level, but it was ahead of the 100 day MA at 0.77207. Last week, the price traded above and below that MA level,
Mostly modest changes in the major indices The major European indices are closing the day mixed to start the trading week. The end of day changes are mostly modest. The provisional closes are shown German DAX, -0.1% France’s CAC -0.2% UK’s FTSE 100, -0.1% Spain’s Ibex, +0.1% Italy’s FTSE MIB, +0.4% In other markets as London/European
Trades near highs. The GBPJPY is higher and tests a topside trendline from a consolidation range. Earlier in the session, the price tested the lower trendline of what is a bull pennant formation. A break above the trendline currently at 154.24, would still have to get through the highs seen over the last week at 154.275 (from Friday), 154.324 (from Thursday) and 154.424
Can the price of the GBPUSD stay above the 1.4102 to 1.4112 area. The GBPUSD is extending the narrow trading range and in the process has moved above the swing area between 1.41021 and 1.4112….again. Earlier in the day, two separate hourly bars moved above that level, only to fail. The pair has now CLOSED ABOVE that area for 2
Trendline broken at $1856.10 The price of gold is trading to a new session high of $1868.23. That up 1.35% on the day or $24.82. Looking at the daily chart, the precious metals making a break above its 200 day moving average for the first time since early February (February 3). The price is also moved
6 straight day of gains in jeopardy The USDJPY has moved higher for 6 consecutive days. On the 3rd day higher, the price moved outside a narrow trading range of 103 pips that was in effect for 14 days. Since then, the price has moved 160 pips higher (yesterday was the high). The price broke
100 hour moving average, 100 day moving average and 200 hour moving average tested on the AUDUSD. The AUDUSD is down trading at new session highs after erasing earlier declines that saw the pair move to the lowest level since December 2020. The rise has now taken the price up to a cluster of moving average levels including the 100
AUD/USD falls to 0.7536, its lowest level since 23 December last year The pair is starting to validate the head-and-shoulders pattern as it breaks through the neckline and 2 February low @ 0.7564, allowing for the downside momentum to accelerate towards fresh lows seen in December last year. With the break below the 100-day moving