Technical Analysis

6 straight day of gains in jeopardy The USDJPY has moved higher for 6 consecutive days.  On the 3rd day higher, the price moved outside a narrow trading range of 103 pips that was in effect for 14 days. Since then, the price has moved 160 pips higher (yesterday was the high).  The price broke

Tough to find reasons to be bullish EUR/USD at the moment Besides stretched euro long positions being trimmed, it is tough to pick at reasons to be bullish the single currency against the dollar at this moment in time. The vaccine/recovery divergence story is arguably one of the key factors but also with the Fed

Dow industrial average has the strongest gain in Q1 The US stocks are closing mixed to end the 1st quarter. The NASDAQ index outperforms. The Dow industrial average fell modestly.  For the quarter, the Dow industrial average had the best performance. The NASDAQ was the laggard.  The Dow industrial average found sellers at the quarter

EUR/USD climbs to a session high of 1.1735 There is some light pushing and pulling to start European morning trade as the dollar gives up its mild gains from earlier in Asian trading to sit a touch lower against most major currencies, except for the yen currently. That said, even USD/JPY has pared gains from

AUD/USD back in focus AUD/USD found a bit of breathing room from the neckline of a closely-watched head-and-shoulders pattern yesterday. But today it gave it all back and is now threatening a break lower. Seasonally, April is a good month for AUD/USD, averaging a 1.24% gain over the past 20 years but that didn’t hold

USD/JPY moves up to 110.27, its highest level since 26 March last year The bond market is stealing the show once again in trading today as 10-year Treasury yields continue to surge higher, now up 6.4 bps to 1.772%. In turn, that is keeping the dollar bid while the yen is offered across the board.

Russell 2000 falls -2.8% The Dow is closing at a record close. The Nasdaq lagged with the Russell 2000 of small-cap stocks taking it on the chin.   The final numbers are showing: S&P index fell -3.35 points or -0.08% at 3971.19 Nasdaq fell -79.07 points or -0.60% at 13059.64 Dow rose 98.43 points or 0.3% at 33171.31 The small-cap

EUR/GBP falls to 0.8510 – its lowest level since 28 February 2020 The doesn’t appear to be much month-end woes for the pound in EUR/GBP this time around as the quid is catching a bid with the pair falling to its lowest levels in over a year. The drop sees sellers push past the 24

100 hour MA at $53962 The price of Bitcoin is trading up $1900 at $53900. The high price reached $54096. The low reached $51235.25.    The digital currency is up testing its 100 hour MA at $53962.  The high price just reached just above that MA, but has backed off modestly.  There may be a

Falls down -0.69% at the new session low The Nasdaq has pushed to new lows as the trading winds down to the last 1 1/2 hours of trading. The pair moved up as much as  0.74% at the high. The low has just bottomed at -0.69%.   Meanwhile the S&P and Dow remain higher on the

The NZDUSD is the biggest mover for the week with a 2.48% decline For the week, the USD is ending as the strongest of the majors, while the NZD is the weakest.   That makes the NZDUSD the biggest mover for the week. The NZDUSD fell 2.48%.  The next biggest mover was the GBPNZD which

CFTC Commitments of Traders: The JPY shorts increase. Coming Up! Title text for next article LON SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly forex futures positioning data for the CFTC for the week ending Tuesday, March 23, 2021 EUR long 93K vs 90K long last week. Longs increased by 3K GBP long 22K

NASDAQ down 5 of the last 6 trading weeks The major indices are closing higher and near the highs for the day as buyers push prices higher in the last hour of trading. Trading conditions were once again very choppy trading today suggestive of a market that continues to have ebbs and flows: Dow, S&P,

Gold hasn’t been doing much in trading this week Invest in yourself. See our forex education hub. Even with the ebb and flow in the dollar, gold has managed more sideways action if anything else in the market this week. Treasury yields retreated from the highs last week but has kept above 1.60%, so that

Russell 2000  closes for the 1st time in 4 sessions The Dow, S&P and Nasdaq snapped a 2-day losing streak although the road traveled was not a straight lines and buyers and sellers battle it out. The Russell index was the biggest gainer on the day and snapped a three day losing streak  Dow had

The drama in the Suez Canal adds to the messy picture As if the view on demand conditions easing and questions being raised on the supposed ‘supercycle’ on oil weren’t enough, the Suez Canal situation just creates more complications for traders to price in at the moment – at least in the short-term. The disruption

Dow turns negative at the close It was an ugly day for the NASDAQ index. It fell 2% on the day on a decline of 265.8 points. The S&P index and Dow were down more modestly but both closed at the session lows.  The declines today cannot be blamed on yields moving higher. The treasury curve is lower across the board with

The stellar German PMI report won’t do much to change market sentiment EUR/USD got a light jump from the strong report earlier, moving up from 1.1820 to 1.1833 but that is quickly fading as the report will not do much to change things on the day.Invest in yourself. See our forex education hub. Sure, Germany