EUR/USD up a half-cent The euro spent the latter half of last week trying and failing to break above 1.2000 but earlier today it finally made its move after a dip to 1.1940 was rejected. It climbed more than 100 pips from its intraday low in a straight-line move to 1.1943. Since then it has
Technical Analysis
Cable up 150 pips A soft US dollar explains about one-third of the cable move today but the rest is UK-driven. There isn’t a particular catalyst though, with news flow out of the UK very limited today. The latest is that the UK has added India to its travel ban list over covid variant concerns.
German Dax makes new all time highs The German Dax broke higher today and in the process moved to a new all time high at 15473.83. The price of the index had been waffling up and down over the last 8 trading days in a non-trending market before breaking higher and running to the upside.
Price trended higher this week. In my latest video, I focus on the non-trending nature of the AUDUSD and how it based and rocketed higher. You can see it HERE. The price moved up around 180 pips from the low in the NY session on Tuesday, and above 138 pips after the pair moved back
WTI crude oil futures to settle at $63.13, up $0.33 or 0.52% the price of WTI crude oil futures are settling at $63.13. That is up $0.33 or 0.52%. The high price for the day reached $63.88. The low price extended to $62.83. The June contract settled lower by $0.32 at $63.14 Technically, the price is
CFTC Commitments of Traders: Little changes in the futures net position data for the week 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 13, 2021 EUR long 67K vs 68K long last week.
Learn how to catch more trends by following that simple trading mantra [embedded content] Many traders look at sideways markets as a time to fall asleep and ignore that market or specific currency pair. In reality, there comes a time in the sideways markets, where you need to become uber aware of the price action. The reason?
I still don’t trust it, but buyers are making a play on the sharp run higher I have not been a big fan of the GBPUSD of late. It has had an overabundance of very volatile up and down price action (which is different than non-trending). It does not have a rhythm. Case in point, the price tumbled
Gold breaks the range to the upside Just when it looked like gold had formed a double top, it’s broken out to the upside. Falling Treasury yields and the ‘buy everything’ mode in the markets at the moment have given a big lift to gold today. It’s up $27 to $1763, which is the highest
Is the consolidation over? Look at the title of this new report from Goldman Sachs. That’s the kind of thing to get anyone’s attention: “Without a surge in the use of copper and other key metals, the substitution of renewables for oil will not happen,” they write. Copper is certainly surging today, up 2% to
No new records today as investors focus attention on Coinbase debut The US stocks are ending the session with mixed results. The Dow did snap eight to date losing streak, but the S&P and NASDAQ index both close lower with the NASDAQ index taking on most of the downward heat. The S&P index reached a new all-time intraday
USDCAD finds sellers on the test of the converged 100/200 bar MA on the 4-hour chart. The USDCAD has traded mostly between 1.25203 and 1.2628 (108 pips) going back to March 23 (3-4 weeks). The larger range (including extremes) have seen the price bottom at 1.2501 and a high at 1.26466 (145 pips). Looking at
Dow lags today The S&P index closed at an all-time record high. The NASDAQ 100 also closes at a record level. The NASDAQ composite is still below its all-time high reached on February 16 at 14175.12. The small-cap Russell index was down on the day as was the Dow industrial average. The Dow was dragged down by IBM, Nike, J&J
Back below 100/200 hour MAs The USDCAD moved higher into the North American session, but ran into a topside swing area between the 1.2623 to 1.2628. The high reached between those levels and quickly reversed back to the downside. The price is now move back below the 100 and 200 hour moving averages (blue and green lines) between 1.2576 and 1.2566. Traders will
Holds gains on the day, but in a neutral area The GBPUSD opened the NY session with strong gains that took the price above its 100 hour MA. However, for most of the NY session, the price corrected lower, falling back below the 100 hour MA currently at 1.3748. On the way, the pair fell
S&P and Dow industrial average closed at record on Friday The major indices are opening with modest declines across the board after the gains on Friday. Both the S&P and Dow industrial average closed at record levels to end the trading week. A snapshot of the markets currently shows: S&P index -1.62 points or -0.04%
Oil flat today I did a video recently where I talk about the importance of watching markets that aren’t moving and aren’t grabbing headlines. At the moment, that’s oil. WTI is flat today and looks like it will stack up another doji star on the chart. It’s normally one of the most-volatile assets but it’s
The low today stalled at swing area. Price is between 100/200 hour MA The AUDUSD is stuck in a range (stuck in the mud) which has mostly been between 0.7577-87 on the downside, and 0.7653-63 on the topside. The low today stalled at the upper end of the lower range at 0.75877. The high today