Technical Analysis

10-year Treasury yields on the verge of a breakout? Treasury sellers will certainly have a lot to think about this Thanksgiving holiday as yields are on the cusp of a potential technical breakout to the topside. The trendline resistance for 10-year yields at around 1.68% is keeping a lid on action so far on the

Oil is up another 0.7% to $79.10 Invest in yourself. See our forex education hub. The bounce this week comes as price came close to testing the 100-day moving average (purple line) but sellers fell short of contesting the key level. And after the SPR release new yesterday, which was rather underwhelming to say the

S&P and Dow industrial average move higher The NASDAQ index fell for the second consecutive day. Yesterday the index fell -1.27%. Today’s declined took the price down -0.50%. That still is well off the lows which saw the index down as much as -1.6%.   The S&P and Dow industrial average both rose and are closing higher on the

USD/JPY shoved lower from 115.05 to 114.50 Invest in yourself. See our forex education hub. This just looks more like a bit of a let out of steam but the overall momentum is still largely sticking, though the greenback is trading more mixed across the board. Treasury yields are holding the advance from yesterday and

NASDAQ index falls -1.26%. Dow snapped a three day losing streak but closes near it’s lows The major US indices are closing near lows for the day as higher rates hurt investor sentiment.  The NASDAQ index – which closed at a record level on Friday and also made new all-time intraday highs today  – turned

EUR/USD down 0.2% to 1.1265 on the day It is tough to pick at support levels for the pair over the past two weeks but the 61.8 retracement level of the swing higher from March last year to January this year @ 1.1290 and the 1.1300 did offer some light reprieve last week before it

Changes for the week are mixed The major European indices are closing the day lower led by declines in the Spain’s Ibex and Italy’s FTSE MIB. The move to the downside were triggered by fears of the Covid resurgence. Austria announced that they would lockdown starting Monday and require vaccinations. Other levels of resurgence in Covid cases are

Trades to the highest level since October 1 The USDCAD moved to a new week high today but has backed off. The high price reached the highest level since October 1 in the process at 1.26613.  For the week, the USDCAD traded higher and made new highs each day since Tuesday’s low (although Thursday, the

Fed speak is starting to weigh a bit The S&P has turned back negative on the day after moving within one point of its all-time record at the day’s high. The high price reached 4717.75. The all-time high is at 4718.50. The current price is trading at 4698.14, down -6.29 points or -0.13%. For the NASDAQ

Dow and S&P close lower The US major stock indices are closing with mixed results.  Some highlights for the major indices: The NASDAQ index closed at a record level. The index rose 63.74 points or 0.4% to 16,057.45. The index reached an intraday new all time high at 16,121.12. The low extended to 16017.23.  The NASDAQ index closed above 16,000 for the first time

Fourth straight week of the declines the price of WTI crude oil futures are settling at $76.10. That is down $2.91 or 3.68%. The high for the day reached $79.30. The low extended to $75.079. The low for the day stalled just ahead of the October 7 low at $74.95. That level ss the next

Little change among major currencies for the most part Besides the euro, other dollar pairs are sitting within 10 pips change of one another to start the session – exemplifying a more tepid mood currently. After a retreat in the past two days, the greenback is keeping steadier as the gains from the past week

Up $0.65 or 0.83% The price of WTI crude oil futures have rebounded today with the price settling at $79.01. That’s up $0.65 or 0.83% The low price today reached $77.05. The high price extended to $79.33.  The low price from November 15 (Monday) bottomed at $79.29. The high today reached just above that of $79.33.

WTI down 1.4% to $77.29 at the moment The low today hit $77.08 and that is the lowest since 7 October as oil prices continue to struggle after failing to really secure a firm break above $85 in recent weeks. As pointed out last Friday here, three straight consecutive weekly declines and a relative top

Price moves above swing area The USDCAD has stretched to a new high and in the process has moved above the 1.25915 to 1.26038 swing area (see red numbered circles on the 4-hour chart), and the 50% of the move down from the 2021 high at 1.26177. The high reached 1.2622.  The current price is

EUR/USD erases most of its earlier decline from 1.1265 to 1.1315 now The push back above 1.1300 is alleviating some of the pain on buyers but the downside pressure is still largely intact as we look towards European trading today. The low hit 1.1265 but there seems to be a bit of a relief at

November 2017 high price is just above at 114.728 The USDJPY is up testing its 2020 high at 114.691 and also the swing high going back to November 2017 that cuts across at 114.728.  Looking at the weekly chart above, there are a number of swing highs between 114.202 and 114.728.  A move above that area should

Dow industrial average down for the fourth time in five days The major indices are closing lower in the day after giving up earlier gains. Dow industrial average was up 135.76 points at the high S&P was up 14.25 points at the high NASDAQ index was up 57.6 points at the high NASDAQ index snapped