EURUSD retest its 200 hour moving average The EURUSD started the NY session with a move below the 200 hour MA (green line at 1.08366). The move lower took the price to a swing area from trading this week (and Friday last week as well) at 1.08205. The subsequent rebound off that support, rebroke above
Technical Analysis
NASDAQ index moved up toward resistance target The NASDAQ index is trading up around 232 points or 1.75% at 13565. The high price reached 13608.25. The low price was down to 13281.22. Looking at the hourly chart, the most recent cycle low was on March 15 at 12555.35. The price moved up 14634.22 on March
EURGBP tries to move higher with more work to do The EURGBP has moved marginally higher today, but in the process has moved back above its 100 hour moving average currently at 0.82862. The pair initially broke above that moving average but found willing sellers against a swing area between 0.82936 and 0.82987. The price
AUDUSD falls below the 38.2% retracement The AUDUSD is lower for the 3rd consecutive day. The pair today is suffering after China retail sales data came in weaker than expected. There is also a “risk off” sentiment as fears from Ukraine, along with higher inflation permeate the markets. Oil prices are higher. Gold is higher
EURGBP stay below the 100 hour moving average The EURGBP moved to the low for the week on Thursday. That took the pair to lowest level since March 7 in the process. After waffling up and down on Friday (Good Friday), the price moved higher in trading today and sniffed the falling 100 hour moving
EURUSD falls toward the swing lows from yesterday The EURUSD continues to move lower as ECBs Lagarde’s press conference continues. She is holding the line as far as policy with APP purchases likely to and sometime in the third quarter, but is not pinpointing whether it’s at the beginning or the end. She has added
GBPUSD reverses back to the downside today The GBPUSD is following the trend of the USD moving higher. US yields have pushed to the upside with the two year now up eight basis points to 2.435%, and the 10 year up 7.7 basis points to 2.781%. It is well off the low levels for the
USDCAD moved up to test the 200 day moving average The USDCAD has reversed some of the declines seen yesterday and into today. Recall from yesterday, the Bank of Canada raised rates by 50 basis points and that coupled with hopes that the US inflation was peaking, sent the USD lower and the CAD higher.
The strongest weakest of the major currencies US and European markets (for the most part) are closed, but the forex market still trades. The GBP is the strongest and the JPY is the weakest. The major currencies are all clustered really close together with the JPY being the biggest outlier as it continued its move
USDJPY trades to the highest level since 2002 The USDJPY is trading higher once again today and in the process has blown back through the June 2015 high at 125.86 and the high from Wednesday t 126.31. That move puts the price at the highest level since May 2002 nearly 20 years ago (see weekly
30 year yield reaches a new cycle high The US 30 year bond has reached a new cycle high yield of 2.926%.. The current yield trades out 2.918% just off that level. That new high represents the highest level since May 2019. In 2022, the low yield reached 1.875% early in January. The high yield
NZDUSD stays below the 100 hour moving average Yesterday, the RBNZ hiked rates by a greater than expected 50 basis points (est 25 bps) and the price for the NZDUSD initially spiked higher. However, after the NZDUSD price reached the 200 hour MA and the 200 day MA (green lines in the chart above), sellers
NASDAQ index is up nearly 2% Recall from yesterday, the Nasdaq index moved higher ahead of the open on the back of what is perceived as a peaking of inflation (after the higher than expected CPI data). However, as the day went on, the pair gave up those gains and then sold off into the
USDCAD falls back to the 200 hour MA The USDCAD earlier today saw the 200 day MA and the 100 hour MA broken helped by the 50BP hike by the BOC and a lower USD. The break saw increased selling momentum with the price moving down to test the 200 hour MA at 1.2557 currently.
Today’s candle on the Nasdaq chart is not a pretty one. It tried to fill the gap at the start of the week, failed and is now significantly lower on the day; down 0.5%. That’s down 2.6% from the highs today. There’s still a bit of time left but it’s looking like an ugly outside
USDCAD moves back above its 200 day moving average The USDCAD tumbles below the 200 day MA after the CPI data in the US today. The fall earlier in the North American session took the price to the 100 hour MA (blue line), however, buyers slowed the fall and bounced the pair higher. The retracement
EURUSD moves between 100 hour MA and swing support Toward the start of the US session (see earlier post here), the EURUSD moved below it’s 100 hour MA and was testing the swing high from Friday. Moving below those levels would have tipped the bias more to the downside – which is what happened. The
The major US indices all closed lower as worries about higher rates, higher inflation, slower global growth, recession, you name it. S&P and NASDAQ closed lower for the second consecutive day S&P closed below its 200 hour moving average at 4420.58 NASDAQ gapped below its 200 hour moving average up at 13707 and closed near