The major indices are trading mixed with the Dow industrial average up 0.34%. The S&P index of 0.16% while the NASDAQ index is down -0.56% currently. Tests the 200 hour moving average and stalls If you were to look at the hourly chart of the NASDAQ index above, the high for the day at 13837.59
Technical Analysis
USDCAD bounces off the Red Box area (again) The USDCAD has moved down to test the low of the swing area between 1.2649 and 1.2656. The low price just reach 1.26475 but has since bounced back up to 1.2663. The 100 day moving average of 1.26377 is also in play as is the failed swing
AUDUSD on the hourly chart The AUDUSD is trading to new session highs and in the process is trading at the highest level in 34 trading days. The price traded above the high price from yesterday which tested swing highs going back to January 12 and January 14 between 0.7289 and 0.7292. The current prices
The JPY is the strongest and the EUR is the weakest as European traders look to exit. A snapshot of the forex market as European traders exit Taking a quick look at some of the technicals for the major currency pairs: USDJPY : The USDJPY is lower on the day and in the process moved
Gold runs away from 100 hour MA The price of gold is trading to a new session high of $1935.21. The price trades just off that level at $1934.71. The price is currently up $25.87 or 1.35%. Looking at the hourly chart, the low price yesterday stalled near its rising 200 hour moving average (green
US 10 year yield trades to lowest level since February 4 The flow of funds into US debt instruments continues with the US 10 year moving to a low of 1.842%. That took the yield to the lowest level since February 4 . The lows last week reached 1.847% on February 22 and February 24th.
USDJPY finds support buyers after break MAs The USDJPY opened the day above its 100/200 hour MAs (blue and green lines). The price broke below those MAs near the end of the London session, and stayed below and moved lower into the NY afternoon session as selling intensified. The pair has moved down to test
USDCAD trades back in the Red Box Yesterday, the USDCAD made a move outside of a “red box” that has confined up and down price action in the pair since January 27. The high of that up and down red box range was at 1.27956. The strong dollar buying yesterday saw the price of the
AUDUSD trades back above its 100 hour moving average The price of the AUDUSD this week extended above its 100 day moving average (top blueline currently at 0.72376) on Wednesday for the first time since January 14. The run to the upside saw the price extend up to a high of 0.72831. The RBNZ rate
The major European indices are closing sharply higher on the day, but it wasn’t enough to erase declines for the week. For the day: German Dax, 3.66% Francis CAC +3.54% UK’s FTSE 100 +3.91% Spain’s Ibex +3.5% Italy’s FTSE MIB +3.5% For the trading week: German Dax, -3.3% Francis CAC -2.56% UK’s FTSE 100 -0.33%
Wheat is trading down the daily limit The price of wheat traded up the daily limit all day yesterday. The price was locked near $9.34. In the new trading day, the contract moved higher reaching $9.60 before it started to rotate back to the downside. The move to the downside has now taken the price
Gold is lower on the week Gold , like crude oil , is closing near unchanged/lower on the week despite mid week spikes on the back of the Russian invasion of Ukraine. The spike high in yesterday’s trading, saw the price move up to a high of $1974.40. That took the price to the highest
Crude oil is closing lower this week. The price of crude oil settled today at $91.59. That is down $1.22 on the day. For the week, last Friday the price closed at $92.00. So believe it or not, the price is closing lower on the week after trading as high as $100.50 on the spike
Crude oil moved up and then back down The price of WTI crude oil has tumbled back to the downside, erasing the gains seen starting yesterday ahead of the invasion of Ukraine. The last swing low nearly 24 hours ago bottomed at $91.27 before racing higher and peaking above $100 at $100.50. The price over
EURUSD buyers trying to take back some control The EURUSD has seen a decent bounce after trading to a new 2022 low below 1.11207. The new low for the year could only reach 1.11056 on the break. That was above the natural support, and also above a trend line on the daily chart at 1.1096
In a time of true uncertainty, gold is proving to be the ultimate store of value. It’s up $38 to $1945, which is the highest in a year. Technically, this is a break of a major consolidation pattern and it’s a clear break to the upside now, with the one-year high giving way. What does
Nasdaq moves closer to the intraday low for 2022 The Nasdaq index is trading to a new session low of 13125.30.00. That is getting closer to the January 24th intraday swing low at 13094.65 (and low for 2022). A move below that level have traders targeting the May 2021 swing low of 13002.54. The current
It’s looking like an outside say in USD/CAD (though you could forgive it given yesterday’s holiday). The pair fell earlier today on strong oil and a steady risk tone but it’s been ratcheting higher for a few hours and has now cut through the session high to 1.2775. There are a number of recent highs