Technical Analysis

CFTC commitments of traders: The loonie increased by 10K 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 4, 2021 EUR long 85K vs 81K long last week. Longs increased by 4K GBP long 20K vs

Retraces most of the declines The 10 yield is back positive on the day trading near 1.58%. That comes after trading as low as 1.464% on the initial reaction after the nonfarm payroll report.  Since then, the yield has push back higher and is nearly back to the high yield for the day at 1.582%.   Technically, the 50% of the

NASDAQ snaps four days losing streak. The US stocks rallied into the close with the Dow ending the session at a new record and at the highs of the day. The index is closing up 315.76 points for the fourth higher close in as many days. The NASDAQ index is also closing higher for the first time in five trading days.  A

WTI crude oil settles at $64.71. Down $0.92 or -1.4% The price of WTI crude oil futures are settling down $0.92 or 1.4% at $64.71. The pair is closing just below its 100 hour moving average currently at $64.94. Stay below the 100 hour moving average would keep the bears more in control. The high for

AUD/USD brushes aside the earlier drop to trade flat at 0.7747 Invest in yourself. See our forex education hub. But aussie dip buyers are quick to respond as we see price climb back up to 0.7747 currently and is holding a push above its 100-hour moving average (red line) @ 0.7734 though there is some

If buyers are to take more control, they still need to get above 100 hour MA though The USDCAD fell below the floor from the hourly chart at 1.2266 today. However, momentum to the downside could not go very far. The low price reached to 1.22508. That was just above the low from 2918 at

NASDAQ index was down over 400 points at the lows the major indices rebounded into the close and settled mixed. The Dow industrial average surged to positive territory at the bell and is closing near the session highs. The NASDAQ and the S&P index remains negative. A snapshot of the closing levels shows:

Holding 100/200 hour MA got the ball rolling back down However, as noted in the earlier post, the pair ran into the 100/200 hour MA near 0.86895.  The high price reached just short of the level at 0.86888.  As noted in the post, the pair would need to get back below the floor from last

Nasdaq index lower.  Dow closes higher The NASDAQ index has now posted a three day losing streak as it fell -0.48%. The Dow snapped a two day losing streak closing higher by 0.7%. The final numbers are showing: S&P index up 11.49 points or 0.27% at 4192.66 NASDAQ index down 67.565 points or -0.48% at 13895.11 Dow industrial average

The 100 hour MA is in play now The USDCAD has been waffling up and then down in trading today.  The “up” moved to test the high from Friday and Thursday but fell short of those levels. Also above is the 38.2% retracement of the move down from Wednesday’s corrective high (at 1.23234). The high on Friday stalled just

Rebounds higher The USDCHF – for the first time since March 1 - traded below its 200 day moving average yesterday at 0.9086 but could only get to 0.90813 (a later session low reached 0.90796). The pair traded below its 200 day moving average on a number of different occasions since the first run lower including a number of times

Closed at 0.7744  The AUDUSD has cracked below an upward sloping trend line and away from the 100/200 hour MAs today. The pair has also just cracked back below the close from last week at 0.7744. The pair is trading at 0.7737 as I type, after reaching an intraday low at 0.77337.   The next downside

Dollar moving higher. The EURUSD is moving below its 100 day moving average of 1.20537, and trades to a new session lows just ahead of the London fixing at the top of the hour.  The dollar is also moving higher vs other pairs as well. The GBPUSD is trading a new lows, the USDJPY and USDCHF are trading a new

The 100 day MA is joined by swing area  The NZDUSD moves down to test the 100 day MA at 0.7161 and a swing area in the same area (see red numbered circles).   The price last tested the MA line on April 22 and April 23. There were minor breaks below that MA on that

Mixed results for the week The European major indices are ending the week with mixed result today and also ending the week mixed. The provisional closes are showing: German DAX, flat France’s CAC, -0.5% UK’s FTSE 100, up 0.2% Spain’s Ibex, unchanged Italy’s FTSE MIB, -0.45% For the week,: German DAX -0.9% France’s CAC, +0.2%

Range for the week up to 168 pips The pair moved down to test a swing area at 1.3807 to 1.3811. Dip buyers/profit takers came in against the area and have push the price back toward the 50% retracement 1.3838.  If the sellers are to remain in firm control staying below that midpoint level would

Up $1.15 at 1.80% The WTI crude oil futures are settling at $65.01 or up $1.15 or 1.80%. The high for the day reached $65.47, while the low for the day reached $63.65.   The price is up for the 3rd straight day with bigger gains over the last two days.  The gains are being helped

Two moves below the 200 day MA today both failed The USDCHF yesterday tried to extended above its 200 hour moving average for the first time since April 5 (higher green line in the chart below). The move above failed, and buyers turned to sellers. The price trended lower. Today, the Asian and London session lows move below the key