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
Technical Analysis
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
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
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,