USDJPY bounced off 100/200H MAs The USDJPY spiked higher with the USD after the better than expected jobs report. The pair moved up to a high price of 105.387, but has backed off to 115.13. The current price trades at 115.245 between those extremes. Looking at the hourly chart, the 115.03 to 115.113 has been
Technical Analysis
EURGBP races to topside resistance The BOE raised rates by 25 basis points with dissenters in the 5-4 vote leaning to 50 bp rise. That initially sent the EURGBP to the downside. However, after Lagarde started to switch course for the ECB, it was “fast break the other way” for the EURGBP with the price
EURUSD moves higher The press conference with Lagarde is underway and the market reaction is to the upside. The pair is currently trading above the high from yesterday at 1.13295. The high price just reached 1.1360. That high tested the high price going back to January 21. The January 20 high at 1.13684 would be
The price of WTI crude oil futures are settling at $88.26. That’s up six cents or 0.07% on the day. The high price reached another new seven year cycle high of $89.72. The low price extended to $87.10. Looking at the hourly chart, the price had been trading between $86.20 and $88.84 since June 26.
EURUSD up for the fourth consecutive day The EURUSD is working on it fourth consecutive day to the upside. The pair reached the lowest level since early June 2020 on Friday of last week. Since then, the price has moved over 200 pips in the last four days of trading. In the process, the price
The major US indices are closing higher and near the highs for the day for the 3rd day in a row. After the close alphabet Q4 results saw a beat on the revenues and earnings per share. They also announced a 20:1 stock split. The price of Alphabet is trading up $137 or 4.98% it
EURUSD moves above its 200 hour moving average The EURUSD is up for the third consecutive day after bottoming at 1.11207 on Friday. That low on Friday took the price to the lowest level since June 2020. After a modest gain on Friday, the price started to gain more upside momentum during yesterday’s trade. Yesterday,
Crude oil cannot stay below its 100H MA The price of WTI crude oil futures are settling at $88.15. That is up $1.33 or 1.53%. The high price today reached $88.23. The low price extended to $86.38. Looking at the hourly chart, the price tried to dip below its 100 hour moving average (blue line
EURUSD on the hourly chart Recall from last Thursday, the EURUSD fell below its low from November 2021 at 1.11853. The price is currently trading at that level, after running to a new cycle low at 1.11207. That low was lowest level since June 2020. A move back above the 2021 low would have traders
USDCAD returns to the high from yesterday The USDCAD has been up 4 of 5 days this week. The low was made on Monday at 1.2553, and that level was tested again ahead of the Bank of Canada decision on Wednesday when the low reached 1.2558 (just 5 pips from the low). The BOC kept
AUDUSD moves below the 2021 low The AUDUSD fell to a new low going back to July 2020. In the process, the price fell below the 2021 low at 0.6992. The low price reached 0.69669 and stayed below that level for around three hours before rebounding back above. The last 5 hourly bars has seen
Today is the seventh consecutive day of declines in NZD/USD. Even with a better mood in markets today, the pair is down 40 pips to 0.6542. Yesterday it was largely a broadly strong US dollar pushing the pair down but the kiwi is uniquely soft today, along with the Australian dollar. The weekly NZD/USD chart
EURGBP bounces off the low from last week The EURGBP bottomed last week at 0.8305 (on Thursday), and shot higher peaking at 0.84218 on Monday of this week. The high price on Monday, was able to extend briefly above the 38.2% retracement of the move down from the December 8 high to the low price
EURUSD keeps the seller in firm control The EURUSD is looking to go into the weekend with the bearish bias intact. Looking at the four hour chart above, the pair fell below the low from 2021 (from November) during yesterday’s trade at 1.11853. The corrective move off of the low today at 11207 could only
The post-Fed sentiment was the catalyst for the latest leg higher in the dollar this week. Powell & co. offered a more hawkish tilt and that was enough to see markets scramble to price in five rate hikes by the Fed this year. In turn, the dollar has surged higher as yields also climbed –
It wasn’t long ago that the headlines were extolling the valuation of Apple extending above $3T. Since the price reached that milestone back on January 4th, the price has been moving down and down since. Of course the overall market is lower as well. The price of Apple is currently down about 13.4% from that
NZDUSD on the daily chart The NZDUSD has moved to a new cycle low and trades at the lowest level since November 2020. Looking at the daily chart, the pair has moved below a lower trend line that stalled the fall both yesterday and on Monday. The trend line also held at the low in
The snapshot of the market just ahead of the Fed decision saw: Spot gold is trading down $18.50 or -1% at $1829.40 Spot silver is trading down one cent or -0.06% at $23.77 WTI crude oil is trading up $1.74 at $87.34 Bitcoin is trading at $38,096 2 year yield is at 1.03% 5 year