German Dax near unchanged The major European indices are closing near unchanged/higher on the day. The provisional closes are showing: German DAX, -0.1% France’s CAC, +0.6% UK’s FTSE 100, -0.2% Spain’s Ibex, +0.5% Italy’s FTSE MIB +0.3% In other markets as European traders look to exit: Spot gold is up six dollars or 0.34% $1802.35.
Technical Analysis
Russell 2000 tumbles -1.90% The major US indices are closing mostly lower. The exception is the Nasdaq which closed higher by 0.12 points or 0.00% (call it higher but just barely). The final numbers are showing: Dow fell -266.19 points or -0.74% at 35490.70 S&P fell -23.13 points or -0.51% at 4551.67 Nasdaq rose 0.12
Euro Stoxx index comes off a record close reached yesterday The major European indices are closing lower on the day. It comes a day after the Euro Stoxx 600 index closed a record level yesterday. Today, the index was down -0.1%. Other provisional closes shows: German DAX, -0.4% France’s CAC, -0.2% UK’s FTSE 100, -0.3% Spain’s Ibex, -0.3% Italy’s
100/200 hour MAs at 157.02 area The GBPJPY is consolidating with the 100/200 hour MAs holding support at the US session lows. The two MAs come in around 157.02. The low price for the US session cuts across at 157.009. Since October 15, the pair has been between 155.918 and 158.211. The high from Wednesday
Major European indices close higher The Euro stocks 600 index is set to close at a new all-time high. The index is up 0.8% and above the previous high of 475.84. Other indices in Europe are also higher on the day with the provisional closes are showing: German DAX, +1.1% France’s CAC, +0.9% UK’s FTSE 100, +0.8% Spain’s
Higher highs in this pair despite cycle highs in oil This is an interesting week for USD/CAD. The Bank of Canada decision is Wednesday and it will include a taper but could also include a more-hawkish message or a pushback against a market pricing in four hikes next year. USD/CAD has been stubbornly strong in
USD strength and oil giving back gains are factors Watching the oil market in the past week weeks, there’s been a clear pattern of selling early in US trading only for the buyers to return late in the day. That pattern fits with specs selling at the most-liquid time and refiners buying dips but you
200 hour MA and 38.2% tested The GBPUSD fell on the back of the tough talk from the EU on Brexit. Adam is not too concerned about it (see post here), but its Friday. European traders are either out the door or near gone which decreases the liquidity. Finally, there was some technical reasons to
Crude oil futures up $1.26 or 1.53% The price of WTI crude oil futures are settling at $83.76 - near the high for the day. That is up $1.26 or 1.53% The high for the day reached $83.80. The low extended to $81.76. A week ago, the price closed at $82.47. The gain of $1.29 represents a
What are the charts saying for the EURUSD in the new trading week. The EURUSD traded below the 200 week moving average over the prior 3 trading weeks. Each of those weeks could not close below that MA level. In fact, the last 3 weeks closed between the 100 week MA above (blue line in
The USDJPY stalled near the swing high from November 2017 and rotated lower The USDJPY is closing the trading week at/near the week lows. That breaks a string of 5 straight higher weeks for the pair which saw the price move from 109.10 to the high this week at 114.69 (559 pips). The high price
NASDAQ index lower for the second time in three trading days The S&P index snapped a seven day winning streak with a modest decline of around five points or -0.11%. The Dow industrial average posts a record close and is up for the third day in a row. The Dow’s record close was the first
Price trades above and below the 100 hour MA The USDCAD broke above its 100 hour moving average (blue line in the chart below) for the first time since October 6 in trading yesterday. Buyers entered the market on the break, but still had the 200 hour moving average in its sites as a confirming technical clue. When the pair
Throwing this open to the charting people and any remarks they may have on what appears to me to be a clear outside reversal day for AUD/USD: I stuck an arrow on it so there is no doubt which day I am referring to (if you are new to T/A): What Is an Outside Reversal?
The pair trades to the lowest level since June 25 The USDCAD continues to remain below its 100 hour moving average. The price rises this week all found sellers ahead of that moving average level. The high price today reached 1.23449. The current 100 hour moving averages at 1.23533. Yesterday the test was closer, but sellers once again leaned. The last
NZD/JPY once paid 7% The days of carry are long gone but perhaps the run in NZD/JPY for the past two weeks reveals that they will soon return. The days of 7% carry in NZD/JPY are long gone but the persistent bid in the pair along with a broader reflationary narrative could continue to underpin
S&P and NASDAQ on a five day win streak The major indices are trading marginally higher in early North American trading Dow industrial average up 17 points or 0.05% at 35,474.05 S&P index up 7.27 points or 0.16% 4527.07 NASDAQ index up 26 points or 0.18% at 15155 The S&P and NASDAQ are on a five day
What levels are in play for some of major currency pairs EURUSD: The EURUSD trended higher in the Asian and into the European session and in the process moved above the high from last week at 1.16238 and the high from October 4 at 1.1640. However, the pair stalled at 1.16687 which was a few pips short of the