The price of WTI crude futures are settling at $83.49. That’s down $-2.48 or -2.88%. The low price today reached $83.17. The high price was at $86.48. Crude all tests key swing area Technically looking at the daily chart above, the price moved back into a key swing area between $82.35 and $83.32. However, the
Technical Analysis
Kickstart your forex trading with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD. EURUSD: The EURUSD traded up and down in the Asian and European morning session and then moved lower after the insured expected PPI. Over the price has rebounded since then and currently trades just below the 50% midpoint
USDJPY trades back below the 100 hour MA. Bearish. The USDJPY moved higher into the US session today, and in the process moved between the 100-hour MA (blue line at 148.83) and the 200-hour MA (green line at 149.129). The high price reached 149.09 which was just above the broken 38.2% at 149.069. The inability
The strongest to the weakest of the major currencies The EUR is the strongest and the JPY is the weakest as the North American session begins. The USD is mixed with the USDJPY the biggest mover vs the greenback (+0.40%). The USD is lower vs the EUR and the GBP to start the US trading
Last Friday, the Nasdaq Composite rallied following the big beat in the NFP report as the market continues to bet on the soft-landing scenario. Yesterday, the index opened lower following the outbreak of the war in Israel but bounced back soon after and closed higher as the events in the Middle East are unlikely to
Kickstart your forex trading with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD. EURUSD: The EURUSD continued its move to the upside after stalling the fall yesterday ahead of the 100-hour MA. That move made it to a key technical swing area and retracement at the 1.0606 to 1.0616 area on
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The stronger US jobs data has US yields moving sharply to the upside once again: 2 year yield 5.110%, +8.6 basis points 5 year yield 4.808% +12.5 basis points 10 year yield 4.86% +14.5 basis points 30 year yield 5.03% +14.4 basis points. Above the 5% level. Recall that earlier this week, the yield tagged
US stocks are lower with the NASDAQ and S&P index each down about -0.67%. US yields are higher with the 30 year yield at 5.0%. The 10 year yield moved up to a new high for the year at 4.887% before rotating modestly to the downside of 4.834% currently. The US dollar moved higher versus
Whether you like the price action or not, the technicals in the EURUSD told the story for the price action. Initially, the price moved sharply lower after the stronger-than-expected nonfarm payroll add. That move took the price to a key support level at 1.0483. I’ve outlined that level as a key downside target to get
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The strongest to weakest of the major currencies The GBP is the strongest and the JPY is the weakest as the NA session begins. The USD is mixed to higher ahead of the key US jobs report to be released at 8:30 AM ET. The pundits are looking for: Consensus estimate +170K (range +90-+256K) Private
Tomorrow the key US jobs report will be released at 8:30 AM. For a preview, see Adam’s post HERE. Depending on how that report comes out will likely lead to a move in rates. A stronger report will send US rates higher, while a weaker report will send the US rates lower. The USDJPY traditionally
The strongest to the weakest of the major currencies As the North American session begins, the NZD is the strongest and the CAD is the weakest. The USD is lower as yields dip modestly in early US trading. It is one more sleep until the BLS releases their latest US jobs report for September with
The AUDUSD tested the low from yesterday at 0.62849. The low came up a pip short of that low and bounced. The high for the day was able to extend above the low from last week at 0.6331 on two separate 4-hour bars. However, momentum could not be sustained above the level and the price
The breakout of the triangle is a signal that the global economy might be headed for a downturn as the central banks keep monetary conditions tight. The fast rise in energy prices might have also accelerated such an outcome as consumption should have suffered from it. We have also other markets heading towards a negative
Major stock indices fell sharply today as yields continued their march higher. The 10 year yield rose 11.7 basis points to 4.799%. The 30-year is approaching 5% at 4.927%. Much stronger JOLTs job openings data was the catalyst for higher rates: Dow industrial average had its worst trading day since March 22 NASDAQ index equaled
US: The Fed left interest rates unchanged as expected. The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the year with less rate cuts in 2024. Fed Chair Powell reaffirmed
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