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Technical Analysis
100 day MA at 1.25404. The USDCAD closed last week right at its 100 day MA. That MA is at 1.2540. The pair closed at 1.2551 (blue line on the daily chart below). Looking at the week’s price action, of significance technically, was the Bbreak above the 200 day MA (green line) at 1.24711 on
Makes new 2021 highs The US dollar index (DXY) raced above 2021 highs and extended to the highest level since July 22, 2021. The high price reached 95.26 on Friday. In the process, the index took out the High for the year reached last week at 94.62 as well as the September high at 94.56.
Price is down for the 3rd week in a row The GBPUSD traded to the lowest level since December 2020 this week. The move lower took the price down for the 3rd week in a row and take the price closer to its 100 week MA at 1.3277. The 200 week MA is at 1.3164
Three day up streak to end the week The USDCHF closed the week on a more bullish note. The price closed higher for the third day in a row. On Wednesday, the low for the week stalled at the lower trend line and bounced higher (bullish bounce) Also on Wednesday, the price moved back above
NASDAQ index leads the way The major US indices are rebounding today and closing near session highs. The solid gains also cut into the losses for the week. However major indices still closed lower for the first time in six trading weeks. The Dow industrial snapped a three day losing streak S&P and NASDAQ closed
The price closed at $1862.22 yesterday The price of gold has erased its earlier declines and now trades higher on the day. The closing level came in at $1862.22 yesterday. The current price is trading at $1865.34 up $3.41 or 0.19%. Looking at the hourly chart below, the price has been up for eight consecutive hours. The next
Tough to bet against the greenback as the weekend looms With little key risk events to work with and barring any major headline surprises, the market is likely to keep with the post-CPI momentum after the break yesterday. Treasuries are keeping lower (higher yields) again today upon the return of the bond market and the
The EURUSD sellers push through the intraday floor The EURUSD has been mired in a narrow range for the London/US session. The highs a stalled near 1.1476 which was near the closing level from yesterday. The lows stalled between 1.1453 and 1.14553. That represents only a 23 pip trading range over the 2 trading sessions. The pair has now broken to a
XAU/USD surged on the hot US inflation data: A glance at the chart shows just above the $1840 level is a likely stop los placement area and may be something to watch in the session ahead. Excuse my rough and ready tech analysis, I’m sure the ForexLive people can do better in the comments! Invest
The debt traders are casting their vote The that traders are casting their vote as far as rates are concerned. They – for the most part - shunned the 3, 10 and 30 year auctions this week. The 30 year auction today was the worst with a five point basis point tail above the WI level at the time
AUD/USD down to 0.7355, its lowest since 13 October Things are certainly getting interesting for the pair, at least from a technical perspective, as the aussie continues to fail to gather much support following the RBA last week. The rejection at the 200-day moving average (blue line) coupled with a more dovish message by the
Trades to highest level since November 2 The price of WTI crude oil futures are trading at the highs for the day. The price just reached $83.78. That’s up about $1.58. The price is the highest level since November 2. Looking at the hourly chart, the low price from yesterday’s trade tested its 100 hour moving
USD/JPY down 0.4% to 112.70 levels on the day Invest in yourself. See our forex education hub. There was a shove lower late yesterday and sellers are working with that as bond yields also retreat rather strongly to get the new day going. 2-year Treasury yields are down 3.4 bps to 0.415% while 10-year yields
WI level at the time of the auction was 0.740% High yield 0.750 WI level 0.740% Tail 1.0 basic point Bid to cover 2.33X vs six month average of 2.44X Dealers 24.3% vs six month average of 29.3% Directs 18.04% vs six month average of 18.5% Indirects 57.6% vs six month average of 52.2% The auction of three year notes was met with
Two impressive days for gold Central banks pulling back from hawkish talk has been a tailwind for gold in the back half of this week. That’s led to an impressive rebound from $1760 to $1813. At today’s high of $1815, gold traded at the best levels since September 6. The gold chart is a fascinating
A look at CAD/JPY Long yen crosses has been a great trade since late August but the push back from central banks led to a retracement this week. Is it a blip or something more? The moves in bond markets have been dramatic but in yen crosses that’s not the case, perhaps in large part
The price broke above the high from March 16 for the first time on Tuesday this week The Russell 2000 joined the stock market party this week by moving above the March 2021 high for the first time during Thursday’s trading. That high came in at 233.78 and although that level was tested in June