Technical Analysis

Takes out the June low at 1.21035 The EURUSD has continued it’s decline as dollar buying continues all of a sudden. The price of the pair moved below the swing area outlined earlier at 1.21254 to 1.21317. That area is now a risk level for shorts. Stay below (and out of the “red box”) keeps

10 year yields were lower.  Most stock indices were higher.  Crude oil is up for the 3rd week in a row. The CHF was the strongest of the major currencies for the week of June 7 to June 11. The NZD was the weakest.   The USD is ending mostly higher with 5-day gains vs all

High price reached $71.24 The price of crude oil futures extended to a cycle high of $71.24. That is the highest level since October 2018. The current price trades around $71. The price of crude oil is up for the 3rd week in a row. The price closed around $69.40. This week, the price traded above the

Kiwi teeters but holds Today’s close in NZD/USD is on track for the lowest since April 12. The good news is that the May intraday low has held. If it breaks, there isn’t much support until 0.7040. On the week, NZD is easily the weakest G10 performer. Some of that reflects a broad USD bid

Pair trades to new session lows The GBPUSD is moving to a new session low (as I type) and in the process is moving back away (to the downside) away from its 100 and 200 hour moving averages at 1.4150 area (converged MAs). The pair is approaching a lower swing area that comes in between 1.4110 and 1.4120

Russell 2000 index does close lower The major market indices are closing higher with the S&P posting a record close.  The gains were led by the NASDAQ stocks. The Dow lagged but still closed positive on the day. The final numbers are showing: S&P index up 19.63 points or 0.47% at 4239.18 NASDAQ index up 108.58 points or 0.78%

Dow 30 stocks lead. NASDAQ index likes The major indices are opening higher despite the higher inflation data out of the US today. The S&P index is moving closer to its record high at 4238.04. A snapshot of the market currently shows: S&P index up 17.14 points or 0.41% 4236.53 NASDAQ index up 12.55 points

Dow the worst performer The major indices lost steam and moved lower in the last hour of trading. NASDAQ composite index closes lower for the first time four days NASDAQ 100 close higher for the fourth straight day Dow has its worst performance in three weeks Dow posts a three-day losing streak S&P closes lower

Dow lags The major indices are trading mixed in early US trading. The Dow industrial average is down marginally. The S&P is trading higher and above its all-time high close level of 4232.60. The NASDAQ index is leading the way with a gain of 0.48%. The snapshot currently shows: Dow industrial average up 7.16 points or 0.17%

NASDAQ closes at the highest level since April 30 The major indices close mixed with the S&P unchanged. The NASDAQ index higher. The Dow industrial average lower. S&P close just below record closing level of 4232.60 NASDAQ closes at highest level since April 30 Energy sector was the biggest gain or help by WTI crude

The up and down price action continues The GBPUSD  on Monday, gave the “old college try” to get to and above a key topside swing area between 1.41937 and 1.4000 (well up to 1.4203 which was the high from last week). The high yesterday reached 1.41901, short of that area and settled lower into the close (closed at

Dow lags and posts the worst day in more than two weeks The major US indices are closing mixed with risk on flows sending the Russell 2000 and NASDAQ indices higher. The broader big cap stocks of the S&P index and Dow declined. The NASDAQ closes 2% from the high S&P closes less than 1% from the high

Can the sellers keep the selling going today? The USDJPY, in the early NY session, has now fallen below a floor from last week’s trading between 109.32 and 109.35 (see red numbered circles). That floor from last week was a ceiling going back to May 17 through May 19th, before moving above on May 27.   That break was previewed by the holding of the

Swing area between 0.7207 and 0.72122 The NZDUSD followed the dollar lower trend and spiked to the upside.  The move higher took the price back above its 100 day moving average at 0.71780. It also moved above the 38.2% retracement of the move down from last week’s high at 0.71977. The high price moved to 0.72087. That high stalled within

Held resistance at 1.4200 on the run higher The GBPUSD moved sharply to the upside today, and in the process tested the key 1.4200 level (yesterday the high reached 1.4203 and quickly backed off). The area between 1.41937 at 1.4200. That area is home to swing levels going back to May 18. The rotation back to the downside has moved

Near 100/200 hour MAs and 50% of the week’s trading range The GBPUSD closed last week near 1.4183. The high for the week reached up to 1.42493 on Tuesday. That high took out the high price from February 2021 at 1.4240 (not shown), but only by 9 pips.  The move also took the pair to the

CFTC commitments of traders: EUR longs increased. CAD longs increase Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly futures forex positioning data from the CFTC EUR long 109K vs 104K long last week. Longs increased by 5K GBP long 24K vs 31K long last week.

All major indices higher All the major indices are closing the session with gains. The day was led by the NASDAQ index NASDAQ has its best day since May 20 NASDAQ higher for the third straight week S&P has its best day since May 24 Dow and S&P higher for the second straight week A look