NASDAQ test the 50 hour moving average. S&P test 100 hour moving average The S&P and NASDAQ index moved to new session highs. The S&P index reached 4173.43, while the NASDAQ index reached 13406.86. At the highs, the indices were testing key hourly moving averages. Looking at the S&P index, the 100 hour moving average comes in at 4173.90. The high price
Technical Analysis
The recent swing high ceiling comes in between $1841.82 to $1845.44 The price of gold is trading up about $14.50 or 0.80% at $1841.24. That moves the price closer to the high for the day and also to the swing high ceiling seen over the last week or so between $1841.82 and $1845.45. There were 4 consecutive
100 day MA is at 13438.47 currently The NASDAQ index continues its move to the upside and is currently trading up over 300 points or 2.3% at 13428.03 (that is the high). The last move to the upside took the price back above its 50 hour moving average currently at 13407. The next target comes in at the 100
100/200 hour MA at 0.7776 area The AUDUSD after testing the 100/200 hour area for 5 consecutive hourly bars has made a break for it with a break above the MA levels currently near converged at 0.7775 to 0.7777. The price is currently trading at 0.7785. Risk now is a move back below those moving average levels.
CFTC commitments of traders: USD shorts increase led by CAD longs Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly forex futures positioning data from the CFTC for the week ending May 11, 2021. EUR long 94K vs 85K long last week. Longs increased by 9K GBP
Stocks close near session highs The major US stock indices are close higher for the second consecutive day. Some other highlights for the day/week Week ends with 2 strong days higher after three down days to start the week S&P has best day since late March 26th All 11 sectors of the S&P close higher Dow S&P NASDAQ
Lows are also above the May 4th lows for each. Looking at the hourly chart for both the AUDUSD and the NZDUSD, they look similar. Both bottom in May on May 4. Both reached a peak on May 10 Both returned to their 100 day moving averages over the last 24 hours Both traded above and below
NASDAQ still 7% below the all-time high The major indices snapped there three days losing streak. However, The Dow, S&P are on track for the worst week since late January. The NASDAQ is on track for its worst week since February 26 The NASDAQ is still 7% below its all-time high On a positive note
First move above the 100 hour moving average since May 5 The USDCAD has cracked above its 100 hour moving average 1.21193. That is the first look above that moving average since May 5. The price has moved down from the 100 hour moving average at 1.22912 on that day, to the low price today at
Dow fell -700 points at the lows The major indices are closing at the session lows with each closing 2%+ lower on the day. The major indices have closed lower for the third consecutive day. The NASDAQ index is leading the way, and is has moved down about -8.5% from the highs so far (in 9 trading days). Decliners to
The dollar sees its gains trimmed across the board Of note, the pound and loonie have all but erased their earlier losses against the dollar with cable moving up to 1.4140 levels as buyers stay poised to try and target 1.4200. Meanwhile, USD/CAD is trading back under 1.2100 to a low of 1.2085. Elsewhere, EUR/USD
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Cable buyers hope to build on yesterday’s momentum The run above 1.4000 yesterday caught a solid bid and stuck around despite risk being sold heavily in US trading. Buyers are still looking towards 1.4200 at this point. That said, further gains may have to wait despite the positives on the technical front. As equities are
Below the swing low from April 29th The EURUSD has dipped below the swing high from April 29 at 1.21494. The price moved above that level on Friday’s run to the upside and apart from hour or in the early European session today, had stayed above the level until the last hourly bar saw the
The dollar is under pressure technically across multiple pairs After the NFP miss on Friday, the dollar was sold off and despite the bond market having second thoughts about the data blip, the greenback failed to recover and is staying pressured as we get things going in European trading today. EUR/USD is holding a break
Solid week for the major indices as well The European shares a closing higher with the German DAX rising 1.2% leading the way. The major indices also closed higher for the week. A look at the provisional closes shows: German DAX, +1.2% France’s CAC +0.3% UK’s FTSE 100, +0.7% Spain’s Ibex, +0.8% Italy’s FTSE MIB, +0.35% For the week,
New highs as London/European traders look to exit The EURUSD is trading to a new session highs and in the process has broken above the April high of 1.2149 and trades the highest level since February 26. The next targets comes at 1.2169 and 1.2189. Looking at the daily chart, the pair has also moved into a swing area
New lows vs EUR, GBP, CHF The USD is moving to new lows vs some of the major currencies. More specifically, the dollar is trading at new lows vs the EUR, GBP and CHF. Moreover, the USD is also trading negative vs the CAD, which puts it into the slot as the weakest of the