Technical Analysis

NASDAQ move closer to its at 200 week moving average With about 30 minutes left in trading, the  NASDAQ  index is tilting back to the downside. The current price is down -519 points or -4.58% at 10820.06. That is getting closer to its rising 200 week moving average at 10796.25. The low price for the

EURUSD trades in the extreme area In The price of the EURUSD extended into the “extreme area”, and outside the older “red box” that confined trading from April 27 to May 23, sans the 2-3 days from the lower extreme (between 1.0348 and 1.04578). The move below 1.04578 took the price down to a swing

The US 2 year yield has reversed the move from the 2018 high The higher CPI data has pushed the 2 year yield up by about 15 basis points. The high yield reached 2.974%. That was just shy of the high  yield  from the week of November 5, 2018 at 2.977% the lap down to

USDCAD moves back into the old ‘red box’ The USDCAD had lower lows for 10 consecutive days that took the pair to a cycle low at 1.25166 on Wednesday. Yesterday the BOC warned about the housing market which got the ball rolling back to the downside for the loonie (to the upside for the USDCAD).

NZDUSD moves toward lower channel trendline The NZDUSD rallied in the Asian session, and moved back up toward a topside trend line. Recall from yesterday, the price did move briefly above that trend line but quickly reversed to the downside. That move to the downside extended to a swing area between 0.63749 and 0.63792 toward

USDJPY takes a nap The  USDJPY  moved down and up yesterday, and it is moving down and up today. The low price yesterday stalled ahead of the 38.2% retracement of the last trend leg higher (from June 6). That retracement level is also near the swing high from Tuesday’s trade and a swing low from

It’s a rough day for all risk assets but the pound has been particularly hard hit, lagging risk assets badly. Some of that might be a catch-up trade after it found some strength earlier in the week around the Boris Johnson drama but it’s re-correlated with stocks. That correlation was one of the stronger ones

EURUSD runs lower on the 5 minute chart The GBPUSD is continuing it’s run to the downside. That move lower started in the European session when the price fell below the 200 and 100 bar MAs on the 5 minute chart, shifting the bias back to the downside. The move lower has not really seen

Earlier this week it was all about Treasuries. The whims of the bond market were seemingly steering sentiment elsewhere. Today though US 10-year yields are up just 1.6 basis points in a back-and-forth trade but risk aversion is high and worsening. The S&P 500 is down 67 points, breaking below the range of the past

The AUDUSD is moving to a new session low into the US close and in the process is dipping below the 38.2% of teh move up from the May 12 low at 0.7109. The low price has reached 0.70956 so far. The next target comes in at 0.7071. Below that the 50% at 0.70555 would

EURUSD The EURUSD has returned back down toward the 100 and 200 hour moving averages currently near converged at 1.0717. The move to the downside comes after a break back above those moving averages earlier in the late London morning session. The high price extended up to the low of a swing area between 1.0748

NZDUSD move back toward 38.2% retracement level The NZDUSD moved lower in the Asian session after rising up to a swing area between and 0.6490 and 0.6499 before the close yesterday (see red numbered circles and yellow area). The high price reached 0.6494. The subsequent move to the downside saw the price extend toward the

USDCHF back below the 38.2% retracement The  USDCHF  moved higher into the US session and in the process moved above the 38.2% of the last trend move lower that saw the pair moved from 1.0063 to 0.95442 (on May 27). Since that bottom, the price consolidated in a narrow range between 0.9544 and 0.9669 and

USDCAD has a lower low for 9 consecutive days The USDCAD is trading at a new low. The price will below the low from yesterday at 1.25344 and has reached 1.25239 so far. The pair has not traded to a new intraday low for the 9th consecutive day. Looking at the daily chart, the next

10 year yield is up for 6 straight days As the  USDJPY  and the USDCHF move to new session highs, the catalyst is a move higher in yields. The 10 year yield is currently at 3.034%, up 8 basis points on the day. The high yield reached 3.04% so far. The low was at 2.937%.

EURUSD trades in an up and down trading range since May 23 The EURUSD is tilting back toward the low for the day. That low came in at 1.0683. The current price bar on the hourly chart just reached 1.06876. In the NY session , the price moved back below the 200 and 100 hour

GBPUSD moves down to test swing area support after NFP The GBPUSD retraced Wednesday’s decline yesterday and in doing so move back up toward the 100/200 hour moving averages (blue and green lines in the chart above). Recall on both Tuesday and Wednesday, the price tested the 200 hour moving average before falling below that

Both the GBPUSD and USDCHF moved in the strong dollar direction after the US jobs report, but both have retraced back to near converged 100/200 hour moving averages. However, traders leaned against the converge moving averages and have pushed the prices back away. Looking at the GBPUSD, the 100 and 200 hour moving averages come