AUDUSD traders await the next shove The AUDUSD is trading up and down as traders await the next shove. Looking at the hourly chart above, the consolidation has seen the price trade above and below the 100 hour MA (blue line) currently at 0.70909. The high price today reached 0.7109 in the Asian session, and
Technical Analysis
The buying in stocks is continuing with the S&P now up over 2.0%. The NASDAQ index is getting closer to up 3% on the day. A snapshot of the market currently shows: Dow industrial average up 537 points or 1.67% at 32657.52 S&P index up 82.48 points or 2.07% at 4061.22 NASDAQ index up 321.81
USDCAD moves below the 100 hour moving average at 1.28109 The USDCAD has moved below the 100 hour MA at 1.28109. That moving average had a stalled the fall on a number of dips throughout the day. The break tilts the technical bias more to the downside . The high price today – reached near
EURUSD moves back toward key support In the early post today, I spoke to key support being tested in the 1.0633 to 1.0642 area. The EURUSD did in fact bounce off the early US session low near the 100 hour MA, the 50% retracement and swing area which all clustered from 1.06336 to 1.0642. The
Crude oil find sellers against topside swing area The price of WTI crude oil futures chopped up and down in trading today. The low price was at $108.61. The high price was at $111.43. The prices settling between those levels at $109.77. That’s down -$0.52 or -0.47%. Looking at the hourly chart, the high price
USDCHF falls below the 50% midpoint of recent move higher The CHF is just behind the JPY as the currency of choice today as investors look toward safe haven. The CHF is a standard safe haven currency. Looking at the daily chart above, the price of the pair is now down 6 the last 7
EURUSD bounced off the 50%/swing area. Earlier in the day, the EURUSD moved above the 50% of the range since the April 21 high at 1.06421. The price also moved above the swing high from May 5th at 1.0641 (just a pip off the50% level). There were other swing levels down to 1.0633. The break
AUDUSD stepped modestly higher today The AUDUSD move taken a step higher today after an up and down consolidation day on Friday. Recall on Friday, the pair moved down, and up, and back down again before bouncing toward mid range at the close. The high price on Friday stalled against the high price on Thursday
The QQQ ETF is a big cap high tech ETF. The top 10 holdings which account for about 50% of the index is made up of the following big cap tech stocks. Apple and Microsoft account for 23.5%. The only non tech name in the list is PepsiCo (2.03%). Needless to say, it is heavily
The S&P index has moved to a new low of 3841.54. In the process it took out the low price from last week at 3858.87. At the low the index was down 20.28% from its 2022 high and all-time high reached on January 4. That takes index into “bear market territory”. Financially speaking a decline
AUDUSD falls back to the 100 hour MA The AUDUSD is mired in an up and down trading day today The initial move was lower. The price move in the Asian session took the price down toward the 100 hour MA (blue line) and found willing buyers against that level. The subsequent move to the
The S&P 500 is down 80 points, or 2.1% and today’s close will mark a seventh consecutive week of declines. That’s a rare feat and it doesn’t bode well. I had some optimism yesterday that the Target-rout might mark a tradable bottom and it did to some extent but the inability to rally for more
Crude oil futures settle at $113.23. That’s up $1.02 or 0.91%. That is for the June contract which goes off the board today. The July contract meanwhile is closing up $0.39 at $110.28. Norway today announced that April preliminary oil production fell to 1.66 million barrels per day vs. expectations 1.86 million barrels per day.
USDCAD moves above its 100 hour moving average The USDCAD has moved to a lower low for 6 consecutive days. Today, the low took out the low from yesterday by 7 pips. Yesterday’s low took out Wednesday’s low by 11 pips. Wednesday took out Tuesday’s low by 14 pips. So the moves to new lows
Nasdaq index trades above and below the 50% midpoint The NASDAQ index has been trading up an down today. The high price reached 11562.82. The low price extended to 11313.31. Near the midpoint of that range sits the 50% midpoint of the trading range since the post pandemic low. That midpoint comes in at 11449.29.
USDJPY moves below the 38.2% retracement target The USDJPY fell yesterday as investor flows fed into the relative safety of the JPY (US stocks tumble). Today, and Asian session bid for the price back up toward its 100 hour moving average (blue line in the chart above) currently at 128.938. The high price stalled just
The strongest to weakest of the major currencies The USD is making new session highs vs the EUR, GBP, CAD, AUD and NZD. The JPY and the CHF meanwhile are attracting the most forex flows. USD: The EURUSD is back below its 200 hour MA and is also ticking below the low price going back
USDCHF falls back below the 200 hour moving average The USDCHF moved below the 200 hour moving average for the 1st time since April 12 during trading yesterday. There was an afternoon rally that took the price back up toward the low of a swing area between 0.9960 and 0.9974 (and above the 200 hour