Give up gains as Powell calls some markets frothy the US stock indices are ending the session lower. The S&P gave up gains into the close and is closing just below unchanged. The Dow industrial average is the biggest loser. The Russell 2000 outperformed and is closing marginally higher. The S&P and NASDAQ are on track
Technical Analysis
A look at what’s happened I’m not worried about the FOMC but I am worried about this chart. At the June 10 FOMC press conference, Powell delivered a classic line: “We’re not thinking about raising rates. We’re not even thinking about thinking about raising rates”. The highlights of that statement and press conference were almost
First breaks above the 100/200 hour MAs since March 29 The USDMXN has been trending to the downside since the last major swing higher March 24. Since then, the price last traded above both the 200 and 100 hour moving average on March 29. On March 30, the price last traded/closed above its 200 hour moving average
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Views via Société Générale on the euro, the one to two month vie: EUR/USD has crossed above the daily Ichimoku cloud denoting extension in the ongoing rebound. Next potential hurdles are at 1.2245 and January peak of 1.2350.200-DMA at 1.1930 should be near term support. SG nominate S/R ahead for the pair. Resistance: 1.2210/1.2245 1.2165 1.2130
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
More bullish bias on the break The AUDUSD traded the the London session and most of the NY session between the 100 hour MA above and the 100 hour MA below (blue and green lines respectively). The price moved above the 100 hour MA in the last hourly bar and has extended the move higher
WTI crude oil closes up $0.71 on the day or 1.16% The price of WTI crude oil futures are settling at $62.14. That is up $0.71 or 1.16% on the day. The high price today reached $62.43. The low price extended to $61.25. Looking at the hourly chart, the price tried to move above its 100
Surpasses previous all-time record high at 4191.31. High closing level is 4187.32 The S&P index is trading at eight all time record intraday high. The previous intraday high at 4191.31 was just surpassed. The new high just reached 4191.41. The all-time record close is at 4187.32.Invest in yourself. See our forex education hub.
CFTC commitment of traders: Mixed changes for currency positions Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly forex futures positioning data for the CFTC for the week ending April 20, 2021 EUR long 81K vs 67K long last week. Longs increased by at 14 K GBP
Some late day profit-taking takes the S&P index back below the all-time high close The S&P reached an all time intraday high price of 4194.17. That took out the previous high of 4191.31. However some selling into the close push the index back down below the all-time high close of 4187.32. The NASDAQ index rose by close to 200
German Dax -0.3% The major European indices are closing the day lower. A snapshot of the provisional closes shows: German Dax, -0.3% France’s CAC, -0.1% UK FTSE 100 , -0.1% Spain’s Ibex, -0.4% Italy’s FTSE MIB, -0.1% The this is are lower but off lowest levels of the day. The low percentage changes intraday showed: German Dax -1.04% Frances
Major indices down around 0.9% on the day The major US indices all closed lower on the day with each down similar amounts of about -0.93%. The final numbers are showing: S&P index fell -38.44 points or -0.92% at 4134.90 Nasdaq down -131.8 points or -0.94% at 13818.41 Dow -321.41 points or -0.94% at 33815.90 Intel reported after the close and
A number of tries below the 100 hour MA, but a number of fails too The NZDUSD has moved back below the 100 hour MA AGAIN. That MA currently comes in at 0.71793. The pair has seen a number of hourly bars below the rising MA line going back to late Tuesday. Each break eventually
Russell 2000 index biggest gainer on the day the major US stock indices are closing near their session highs. Each of the major indices are snapping a 2-day losing streak. The small-cap Russell index rose by near 2.4%. The NASDAQ index increase by 1.19%. Advancing the declines by 71 New highs on the NASDAQ grew by
The swing lows from last week/this week between 1.24704 to 1.24775 As BOC Macklem begins his presser after the more hawkish rate decision and statement, the USDCAD is down testing the swing lows from earlier this week and last week between 1.24704 and 1.24775. A move below would be another notch in the bearish move
Major indices down for the second straight day It’s not a good start to the week as the major indices closed for the second straight day. S&P index fell -28.3 to points or my 0.68% at 4134.93 NASDAQ index fell -128.49 points or -0.92% at 13786.27 Dow -256.27 points or -0.75% at 33821.36 After the close
Prices breaking below its 100 hour moving average The NASDAQ index is now down over 200 points or more close to -1.5% at 13706.65. The last push to the downside has now taken the price comfortably below its 100 hour moving average at 13729.48. Stay below that moving average will keep the bearish tilt for the index. Looking at