The USDCHF has seen a move to the downside today along with the mostly lower USD. Looking at the USDCHF on the hourly chart, the move to the downside has seen the price move below the 200 and 100 hour MAs. A snap back rally took the price back toward the 100/200 hour MAs, but
Technical Analysis
The USDJPY – and all of the major currency pairs – is in a volatile up and down range. The earlier move in the US session was a move to the upside where the price stretched above the 50% of the January range at 130.989. However, the price ran into the topside trend line and
The price of natural gas futures are trading sharply lower with the prices down close to 4% on the day. The move lower comes after the price tried to move above its 200 hour moving average (green line in the chart above) at $3.50. The high price reached $3.59 before rotating back to the downside.
The 2-10 year spread moved below the 0.0% into negative territory back in July and it has been pretty much down since then. The spread is currently at -0.706 which is supposed to be a prelude to a recession. If the Fed overstays it’s welcome on the tightening side – it seems like they want
The price of WTI crude oil futures are settling at $81.60. That’s down to cents or -0.02% on the day. The high price reached $80.64. The low price extended to $81.05. At the high, the price was up $1.00. At the low the price fell -$0.59. Gains were erased by the close. Looking at the
The AUDUSD moved higher in the Asian Pacific trading, continuing the bounce from yesterday that saw the buyers lean near the 50% midpoint of the move up from the January low (at 0.6875) and the low of a swing area near 0.6869. The move higher today was able to extend above the 200 hour MA
Fed’s Waller was the last Fed official to speak before the blackout period for the Fed ahead of their interest rate decision. In his question and answer he broke down a wall that other Fed officials have been reluctant to do and it led to some added optimism in the US stock market to close
Crude oil futures have moved back into negative territory and below the $80 level as well. The move below the $80 level did find buyers at $79.91 and has since bounced back higher. The price trades back at $80.42. Recall that on Wednesday, the price moved up to test its 100 day moving average. That
The NASDAQ index is leading the way to the upside today with a 153.47 point rise or 1.41% at 11005. The high price has reached 11018.02. Looking at the daily chart, the falling 100 day moving average comes in at 11000.95. With the price back above that moving average, it helps to tilt the buys
The US stocks are bulled up today, with the Nasdaq leading the way in the major indices with a gain of 1.48%. The riskier stocks as measured by Cathy Woods ARK Innovation fund is doing even better with a gain of 2.85%. Typically, lower yields help that flow, but if you look at the US
The EURUSD is back testing the high from earlier today and in doing is completing another up and down (or down and up) session for the pair. Each day this week, the price moved higher or lower and reverserd lower or higher. Today, the price moved higher initially, fell down, and returned back to the
For the second consecutive week, the crude oil inventory data showed a larger than expected build. Last week, the build was 18.962M barrels. This week, another 8.408M were added (well above the -0.593M drawdown expected). And for the 2nd consecutive week, the price of crude oil initially dipped, only to rebound back higher. The price
The EURGBP took a turn to the downside earlier this week after an ECB “sources” story saying that the pace of the hike for the ECB was to slow. That gave the sellers the go-ahead to push lower. Helping technically, was that earlier in the day, the price tried to move back above what was
It’s not a great day for the US major stock indices. The declines are being led by the Dow Industrial Average which is down around -450.3 or -1.33% at 33460. That is a large decline since December 15 when the index fell -2.84%. Yesterday the Dow also fell over 1% (-1.14%). The biggest decliner is
The USDCAD has continued it’s run to the upside after an early move above the 200 hour MA, ultimately led to the breaking above the confined range between 1.3344 and 1.3454 (110 pips – see red box in the chart below). The momentum higher has now taken the price to a high in the current
The Bank of Japan will meet in the new day, and coming a month after the increase in the ceiling rate for the 10 year from 0.25% to 0.50%, the thought is that the dam has a crack, and it will be broken in 2023 as the BOJ starts to address the threat of inflation
The price of WTI crude oil futures settled above $80 at $80.18 the price last close above that level on December 30. The price has seen additional momentum after the settlement and is currently trading at $80.86. The earlier high for the day reached $81.23 before rotating back down to a afternoon low of $79.25
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