Technical Analysis

What’s next for the euro? Bank of America Global Research discusses EUR/USD technical outlook and sees a scope for a move towards 1.1495, ahead of 1.13s. “Euro has declined and broken below 4Q20 supports at 1.1603. Our modest bear case scenario estimates downside euro levels of 1.1495, 1.13s and possibly 1.1290. Should the decline accelerate

Up $1.05 or 1.34% The price of WTI crude oil futures are settling the day at $79.35. That’s up $1.05 or 1.34%.  The high for the day reached $80.11. The low for the day extended to $78.63. A week ago, the price settled at $75.88. With the price settling at $79.35 that’s a gain of 4.57% for

What to know from a technical perspective. EURUSD: The EURUSD is looking to close the week right around the 200 week moving average at 1.1570  after trading above and below that MA, and the 100 week MA at 1.1603. The current price is at 1.1570.   In the new week, those MAs will continue to be

NASDAQ index falls -0.5%. S&P and Dow marginally lower on the day The major US indices are closing the day lower. The declines snapped a three day win streak for the indices. Dow has best week since June Major indices all closed higher for the week S&P post the best week since August Energy and

CAD/JPY trades to its highest levels since early July The pair has been an interesting one to take note of from a technical perspective since August trading and after holding at the lows in late September close to 85.00, buyers have produced quite a stunning bounce higher in recent weeks. The latest shove in the

Up for the third straight day The US major indices are closing higher on the day with the NASDAQ index and the Dow industrial average leading the way with gains near 1%. That’s good news. The not so good news is that the gains were much higher. The Dow industrial average was up 1.62% at

A setback for oil at least in the short-term WTI crude is now down over 2% to $75.50 levels while Brent is also marked down to just below $80 on the day, as the retreat from yesterday continues. The retreat in energy prices is playing some part in all of this as the hype cools

Down $1.50 or -1.9% The price of WTI crude oil futures are settling at $77.43. That is down $1.50 or -1.9%. The price is settling near the lows for the day at $77.06. The high for the day was up at $79.78. The move to the downside was helped by comments early in the US session that Russia’s Putin  that “Russia

EUR/USD falls to a low of 1.1555 on the day, its lowest since July 2020 Higher yields and a focus on risk aversion is a potent combo (the latter is holding a bit more weight now) in keeping the dollar more bid in European morning trade so far, with the greenback extending gains across the

NASDAQ recoups 1.25% The NASDAQ index yesterday took on the chin with a decline of -2.14%. Today the index recouped 1.25% of that decline but it could’ve been better. The index was up as much as 1.78% intraday. It is closing up 1.25% on the day. Some highlights: Dow industrial average recouped all of the

WTI trades up 0.2% to $77.80 on the day Invest in yourself. See our forex education hub. The $78 level poses some light psychological resistance for oil but essentially, it is all about the ability for buyers to keep the upside momentum running after the break to its highest levels since 2014 in trading yesterday.

Nasdaq lower for the 6th time in 7 days.   The major US indices are ending sharply lower with the brunt of the damage done in the Nasdaq index.   The NASDAQ closes at its lowest level since June 22 The NASDAQ is down 7.5% from its all-time high The S&P index is closing  5.40% from its all time

Dollar and yen the laggards on the session so far It’s tough to pick at catalysts for a move in the dollar so far today as equities are seen on the weaker side and Treasury yields are pushing higher, yet the greenback is marked lower against most major currencies in European morning trade. The latter

Price is higher on the week The AUDUSD closed last Friday at 0.7250. The price is currently trading at 0.72618 for a gain currently up about 12 pips on the week.  The move to this level, has seen the AUDUSD  move higher on Tuesday to the high for the week at a 0.73104.  The pair joined  the dollar bull

Buyers into the London close keep the hopes for a rebound in play The GBPUSD moved above the 100 hour MA earlier in the US session and after some up and down price action that saw the 100 hour MA retested, the buyers held the support and has pushed to a new session high as

100 hour moving average at 0.692964 the NZDUSD The NZDUSD has extended its move to the upside and in the process has moved above its 100 hour moving average at 0.69296. Staying above that level now will keep the buyers more in control at least in the short term.  Having said that, the 38.2% retracement of

Up $0.85 or 1.13% The price of WTI crude oil futures are settling the day at $75.88. That is up $0.85 or 1.33%. The high price for the day reached $75.99. The low price extended to $74.23. A week ago the price closed at $73.98. The low for the week was reached on Thursday at

Dow up over 700 points at the session highs The major US indices close sharply higher on the first day of the new trading month/new trading quarter with the NASDAQ index snapping a five day losing streak.  Shares of Merck surged 8.6% on the back of a Covid drug that cuts hospitalizations by 50%. Transportation stocks