Trend line and 100 hour moving average keep a lid on the upside The AUDUSD has retraced its earlier gains. The early Asian session low reached 0.7235 area. Swing lows from the New York afternoon session also bottom near that level. The low price just reached 0.7234. So far support buyers are leaning against that low level. The low price
Technical Analysis
The pair remained below its 100 hour moving average on the corrective move higher The EURUSD is testing a lower swing area near 1.1721 and 1.17264. The move to the downside has nearly retraced the earlier session lows which came in just below that swing area at 1.17177. The earlier move to the upside today peaked at 1.1748. The low from
The S&P 500 fell to test its 100-day moving average for the first time since October last year Invest in yourself. See our forex education hub. It was one of the worst fall in months for US equities but at the end of the day, the S&P 500 managed to cling on and hold off
Cable down a full cent It’s going from bad to worse with the S&P 500 now down 107 points and breaking the 100-day moving average. The negativity is weighing on cable as it hits a new low of 1.3641, down a full cent on the day. It’s a marginal new low as the FX market
The pair test the lower swing area around 0.7270 The AUDUSD tried to move higher in the early European session today, but ran into topside trendline resistance and a swing area between 0.7316 and 0.73226. The price rotated down with the overall dollar buying in the US session. In the process, the price moved back below the 50%
The 200 hour MA is breached in the Nasdaq but can’t reached the week low The NASDAQ and S&P remain under the most pressure today. The NASDAQ index is currently down -1.1% at 15014.01. The S&P index is down -41.61 points or -0.93% at 4432.02. Looking at the NASDAQ index (see hourly chart above), it did reach below its 200
The 200 hour moving averages at 109.869 The USDJPY continued the run higher started on Wednesday when the price stall against the August 16 in August 17 lows near 109.11. The move to the upside yesterday cracked above the 100 hour moving average but stalled against the 100 day moving average and backed off. Today, the price retried the move to
Yield up from 1.344% a week ago The 10 year yield closed last Friday at 1.344%. The current yield is around 1.372%. So for the week, the yield is up a little less than three basis points. That’s not all that much. Looking at the week, the yield move down on Monday and Tuesday bottoming
Both the NASDAQ index and S&P index declined by -0.91% in trading today The major indices are closing lower for the day and also lower for the week. Both the NASDAQ index and S&P index fell by equal -0.91%. The Dow industrial average fell by -0.48%. The final numbers are showing: Dow industrial average -166.44
Trendline cuts across at 1.1722 The EURUSD is traded to a new session low and in the process is testing a swing area between 1.1723 and 1.17264 and a lower trendline at 1.1722. Drilling to the five minute chart below, the price corrected in the Asian session into the European session and in the process moved above
FX showing little poise for the most part to start the day The greenback is mildly weaker to start the day but it isn’t saying much when we’re seeing major currencies keep in narrow ranges: EUR/USD: 14 pips (1.1759-73) USD/JPY: 23 pips (109.68-91) GBP/USD: 20 pips (1.3784-04) USD/CHF: 16 pips (0.9265-81) USD/CAD: 23 pips (1.2667-90)
A topside swing area between 151.44-151.59. Lower swing area between 150.813-150.865. The GBPJPY fell to the lowest level since August 27 during yesterday’s trade. That move bottomed at 150.813 which was within a swing area between that level and 150.865. The price moved back higher and stalled near another swing area which includes the 38.2% retracement at 151.440 and swing
Major indices all higher The US stocks are closing near their highs for the day. The Russell 2000 index of small-cap stocks was the biggest gain or with a 1.1% rise. Dow and S&P up to the last three trading days NASDAQ snapped a five day losing streak The major indices closed near their highs
Moving averages stalls the ups and downs today The NZDUSD down to test its 100 day moving average in the Asian session at the 0.70729 level. The low price for the day reached 0.72726.going back to September 8 and September 9, the price declines had found support against that daily moving aveerage level. The
All 11 sectors of the S&P are lower. The majors stock indices are all closing lower with the Dow industrial average the worst performer. The S&P and Dow have been down for five the last six trading days The NASDAQ index has fallen five straight days All 11 sectors of the S&P index are lower
The recent swing lows between 109.5610 9.615 stalls the fall. The USDJPY has seem to find a bottom near the recent bottoms in the 109.56 to 109.615 area. The low price reached 109.587. It will take a move below that swing area (see red numbered circles in yellow area) to open the door for further downside. For now, the support is holding.
Dow Jones leads the way led by energy and financials The Dow and S&P snapped a five day decline. The NASDAQ was not so lucky falling for the fourth consecutive day. However, late day buying did push the major indices higher into the close. The NASDAQ closed well off it’s low level. The S&P was
25 pip trading range for the NZDUSD The NZDUSD barely has a heartbeat in trading today. The low to high trading ranges only 25 pips that compares to a 22 day average of 61 pips (around a month of trading). The lows reached 0.7096. The high price extended to 0.7122. That took out the Asian session high