RBA minutes due at 0130 GMT AUD/JPY slumped as low as 79.89 yesterday, just above the July low of 79.84. It’s since rebounded 30 pips but remains within the danger zone as we count down to the minutes of the August 3 RBA decision. For me, this chart doesn’t look great. The temptation is to
Technical Analysis
Oil is down 2% to near $67 in European morning trade While WTI crude seemingly held at the July low in trading last week, the latest bounce never really got going as it is slowly fizzling with the market leaning more towards being risk averse to start the new week. Delta variant concerns are posing
AUD/USD is down 0.4% today, keeping near the lows in European trading The pair is down 0.4% on the day to around 0.7338 currently, hovering near the lows as the more defensive risk mood and softer China data weigh on the aussie. That said, in the context of the past few days, this fits with
First look at the support target finding buyers The USDCHF has moved steadily lower (trending) over the last 10/11 hours of trading. The move took the price from the near the high for the week near 0.92414 (the high was at 0.9238 today), to a low of 0.91508 (about 88 pips). The average trading range over the last month
NASDAQ closes lower for the week The S&P and Dow held on for a record closes but just barely. The S&P closed at record day for the fourth consecutive day. The NASDAQ moved higher in the last minute of trading and it’s second gain in a row. The Russell 2000 fell close to 1%. S&P posted its 48th record close
German Dax new record high. France’s CAD works closer to the 2000 high The Euro Stoxx index is holding onto a small gain, making it 10 straight higher closes for that index. The German Dax moved higher and closed at another record. The France’s CAC moved higher and got closer to the September 2000 all time high. The provisional
Russell 2000 moves lower Dow and the S&P closed at record highs once again (3rd day in a row) after reaching new intraday record highs as well. The NASDAQ index broke a two day slide. The final numbers are showing: Dow up 14.74 points or 0.04% at 35499.61 S&P up 13.12 points or 0.29% at 4460.82 NASDAQ up 51.12 points
Dollar edges higher As the London 4 PM fixing approaches (11 AM ET), the USD is making new highs verse the GBP, CHF and NZD in the last few minutes. The dollar the strongest of the major currencies today. The USDCHF traded up to a high price of 0.9236 and moves closer to the high price from
Nasdaq lower for the 2nd consecutive day The Dow and S&P closed at record levels for the second consecutive day. The NASDAQ closed lower for its second day of declines. The Dow closed at a record for the 32 time this year The S&P closed at a record level for the 46th time this year The Dow closed near its
Earlier gains are erased The NASDAQ index has cracked below its 100 hour moving average and scooted lower. Recall from yesterday, and Monday as well, the index’s price tested the 100 hour MA, only to find buyers leaning against the level. Today’s crack below the moving average, led to stops being triggered and the price showing increased downside momentum. Stay
What levels are in play for the EURUSD and the GBPUSD. Are the bottoms in place The GBPUSD and the EURUSD both nearly reached some key downside targets.. For the EURUSD, the pair got within 4-5 pips of the 2021 low for the year and has bounced modestly. For the GBPUSD the pair reached the
Index tests it 50 hour moving average The NASDAQ stocks are coming under pressure after stalling ahead of the all-time high from last week at 14896.47. The high price today reached 14894.62 before rotating back to the downside. The run lower has seen the price move just below its 50 hour moving average at 14781.70.
Dow and S&P snap 2 day win streak The US stocks are closing mixed with no records set today. Last week on Thursday, both the S&P and NASDAQ closed at record levels. On Friday, the Dow and S&P closed at record levels. Today although the Nasdaq rebounded higher, it fell short of its record close. The S&P and Dow both closed lower and with
Narrow trading ranges so far today The GBPUSD is breaking to a new day low as the 4 PM London fix approaches (11 AM ET). The price is trading at 1.38464. That as extended the trading range for the day to about 50 pips which is still well short of the 91 PIP average over the last 22 trading
German DAX pressures that the all-time high but backs off The German Dax move to a intraday high today of 15808.24. That was just short of the July 44 high of 15810.68. The inability to make a new high led to some rotation back to the downside. Nevertheless, the German DAX index is closing marginally higher
Trades between 100/200 hour MAs The NZDUSD has followed the trend higher in the US dollar today (NZDUSD lower) after the stronger than expected US jobs report. The pair moved lower, and in the process cracked below its 100 hour moving average (currently at 0.70328), and continued through an old swing ceiling at 0.7018 to 0.70203 on it’s
Swing area between 1.1751 and 1.17566 The EURUSD is keeping above the July 2021 swing lows between 1.17510 and 1.17566. The low price has so far reached 1.17537 between those swing low levels on the hourly chart. Dip buyers are sticking a low-risk toe in the water, hoping for another bounce. A break below will likely lead to
Down $0.81 or 1.17% THe price of WTI crude oil futures are settling at $68.28. That is down $0.81 or -1.17%. The low for the day reached $67.80. The high reached $70.18. The price last Friday closed at $73.66. The move down took the settled price down -$5.38 or -7.3%. A big move to the downside. Technically, the price moved down toward the