10-year Treasury yields sink below 1.30% Invest in yourself. See our forex education hub. The bond market continues to flash a warning sign to the rest of the market as we now see 10-year yields sink below 1.30% to its lowest since February. The retreat since the FOMC meeting in June has been rather swift
Technical Analysis
AUD/USD turns around the earlier drop to climb to 0.7460 The low today hit 0.7411 in Asian trading, which marked the lowest level for the pair since December, but things are quickly changing now in European trading as risk sentiment is also lookin more positive for the time being. European equities are rallying while US
A look at the CAD/JPY weekly chart Yesterday it looked like CAD/JPY could be headed for an ugly weekly pattern on the chart, falling straight through the June lows in the worst week in just over a year. Today though, the pair has climbed 80 pips to back within the recent range to limit the
USD/JPY searches for first day of gains in six days Invest in yourself. See our forex education hub. It is still too early to be saying what the latest bounce in yields really represents and the same can be said for USD/JPY price action at the moment. The pair managed to find some support from
USD/JPY tests key trendline support as the yen leads gains today Invest in yourself. See our forex education hub. The latest downdraft in Treasury yields is finally stirring up some nerves in the market, as European indices are marked lower at the open with US futures also falling in tandem. This in turn is helping
AUD/USD down 0.6% to 0.7430 levels, the lowest since December last year Invest in yourself. See our forex education hub. The aussie is among the big losers so far today as commodity currencies are seeing a general retreat, with risk aversion kicking into gear in European morning trade. The latest downdraft comes as Treasury yields
Silver flat today as it sits Silver and gold aren’t getting the headlines now but I believe there’s more money to be made by watching quiet markets than trading volatile ones. At the moment, silver fits the bill. When you zoom out, there’s a big triple top ahead of $30/oz but there are also a
Oil up 1% to $74.20 on the day The drop yesterday came after price tested the 2018 highs, which warranted some profit-taking perhaps. But we are seeing dip buyers quickly step in as oil is now back up 1% to $74.20 and pushing back above its 200-hour moving average @ $74.12. In the bigger picture,
Key technical levels gave the sellers the go ahead The USDJPY moved lower early, tested the low from Monday, rebounded up to retest the 200 hour MA and fell lower. The successful retest of the 200 hour MA, was the technical catalyst for the bearish bias today. Sellers leaned and the hold, gave the sellers
The dollar eases across the board EUR/USD has moved up to a high of 1.1894, testing its 200-hour moving average @ 1.1893 currently as we are seeing the dollar give up some ground to start European trading. GBP/USD is nearing 1.3900 while AUD/USD has moved up to close in on a test of the 0.7600
OPEC+ news sends the pair higher The price of crude oil has pushed to a new cycle high above the $76.20 high from Thursday’s trade. The price reached $76.31. That takes the price to the highest level since October 3, 2018 when the high reached $76.88. A move above that level would November 21, 2014.
The CAD is the strongest The USD is now the weakest of the major currencies. The CAD remains the strongest. The greenback is trading to new session lows verse the GBP, CHF, CAD, AUD and NZD. The pair is just off it’s session low vs the JPY. The EUR and USD are battling it out for the weakest of
New highs for the EURUSD The EUR lagged other currencies in making new lows vs the USD, but the EURUSD has just moved to a new high (new dollar low). The pair traded to a new high of 1.18602, taking out the earlier high at 1.18588. The next targets comes against the 38.2% retracement of the move
The bias tilts more to the upside The NZDUSD is trading above its 200 hour moving average and 50% retracement of the move down from last week’s high. Both those levels come in at 0.70200. The price just moved above that level and currently trades at 0.7032. The next target comes in at the 200 day moving average
The 200 hour MA stalls the rally. The EURUSD has extended up to the cluster area outlined in a earlier post. That cluster of resistance includes the: 38.2% retracement at 1.18708 100 hour moving average at 1.18745 (and moving lower) and the swing area between 1.18777 and 1.18815 The high price just reached 1.18736 and has backed off. The sellers against the
NASDAQ closes at a record and so does the Dow… The S&P index is up for the seventh straight day and closes at a record level once again. It is the 7th record high close for the S&P. The NASDAQ index also closed at a record today that is the second consecutive record close for
Down seven cents or -0.09% The price of WTI crude oil futures are settling at $75.16. That’s down seven cents or -0.09%. The high price reached $75.62. The low price extended to $74.41 Looking at the hourly chart below, the price has been fluctuating up and down trading today as the OPEC+ meetings continue without a
GBP/USD under technical pressure below 1.3800 Invest in yourself. See our forex education hub. The range for today remains a bit more subdued going into European trading but the pair is now holding near the lows @ 1.3753 with the dollar keeping steadier so far. The firm break below 1.3800 yesterday was the first since