Initial bounce off of the level The EURUSD has made a quick run to the downside after the pair broke below a swing area between 1.2143 and 1.21496. The pair moved down to test the next key target at the 100 hour moving average at 1.21310. Buyers leaned against the level and have pushed the price back toward the swing area. There should
Technical Analysis
NASDAQ closes lower for the 5th time in 6 trading days S&P index and Dow industrial average moved higher on the day, but the NASDAQ continued its moved to the downside. S&P index closed higher for the 1st time in 6 trading days NASDAQ index closed lower for the 5th time in 6 trading days
Watch 1.2150 for close resistance if the sellers are to keep intraday control. The EURUSD traded to the highest level since January 25 today and in the process broke above the double top from February 16 and yesterday’s trading at 1.2169. However, the move higher was erratic with fits and starts in the Asian session. The high price did reach 1.21794,
Moves above swing area The EURUSD traded above and below a swing area between 1.21435 and 1.21496. However in the last hour or so, more buyers have entered the market and pushed the price up toward the high price from last week at 1.2169. There should be some sellers against the level with stops on a break
The USD is mixed The NZD is the strongest and the CHF is the weakest as the trading week gets underway. The USD is sitting in the middle of the strongest to weakest range with mixed results. The greenback is stronger vs the JPY, CHF and CAD and stronger vs the NZD, AUD, EUR and
Close above would be bullish The USDMXN has pushed back above its 100 day MA at 20.3429. The price moved above that MA yesterday, but could not sustain momentum above the level. Today is the 2nd shot. Stay above today – and going forward – opens the upside for more corrective price action going forward
Yesterday’s post laid out what was needed to get out the NZDUSD chop In a post yesterday (CLICK HERE), I laid out the reasons why the 0.71747 to 0.7177 was support and 0.7224 to 0.72252 was resistance for the pair (see green numbered circles and red numbered circles in the chart above). At the time
WTI crude oil futures settle down $-1.27 or -2.09% The price of WTI crude oil futures for April delivery settle at $59.26 today. The high price reached $60.32. The low extended to $58.60. The price has since moved back below the 59 level. The price currently trades at $58.96. For the week, the price last Friday closed at $59.58.
CFTC commitments of traders: Small changes and speculative positions. EUR remains the largest position Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Technical Analysis Weekly forex futures positioning data from the CFTC for the week ending Tuesday, February 16, 2021 EUR long 140K vs 140K long last week. Unchanged
NASDAQ index and Dow industrial average close marginally higher. Russell index surges The S&P index closed lower for the 4th consecutive day. That is the longest losing streak for the year S&P and NASDAQ post the 1st weekly loss in the 3 weeks NASDAQ and Dow industrial average have modest gains on the day Dow’s
Gold keeps lower by 0.3% but off the lows earlier in the day If something can’t go up on good news, then there’s only one other way it will go. That might just be the story for gold as it fails to catch a respite even as the dollar has slumped by quite a bit
Dow closes lower for the 1st time in 4 days The major US indices close lower across the board. The S&P and NASDAQ extended the losing streak to 3 days. The Dow meanwhile joined those indices after 2 consecutive days of record closes. The indices tried to rally in the last hour but reversed lower into the close. The S&P and NASDAQ 3 days
Buyers show their mettle on a bounce from the 200-hour moving average The pair was caught in a near-term battle to start the session but as the dollar weakened, buyers capitalised on that with the shove lower in EUR/GBP also exacerbating gains in the pound as cable jumps towards 1.3950 on the session. The high
Record close for the industrial 30. NASDAQ index lags. S&P near unchanged The Dow industrial average is leading the way for the 2nd consecutive day. The index is also closing at a record level for the 2nd day in a row and is up 3 days in a row. The S&P index is closing near unchanged. The NASDAQ index
Dollar holds firmer even as the reflation trade pauses for breath Equities are looking more tepid as tensions are stirring after the rout in the bond market yesterday. Treasuries may be finding some mild relief for now but sentiment remains on a knife’s edge as we look towards North American trading.Invest in yourself. See our
S&P and Nasdaq (and Russell 2000) trade lower The Dow close at a record level. The other indices made new intraday all-time highs but close lower on the day. A snapshot of the final numbers shows: Dow industrial average, +63.36 points or 0.20% at 31521.76. The new all time high reached 31608.63 The S&P index closed down
No reprieve for the dollar so far this week The greenback continues to keep in a more vulnerable spot, with EUR/USD climbing to near three-week highs just above 1.2150. Elsewhere, GBP/USD continues to chase towards 1.4000 while AUD/USD is up to test the highs for the year around 0.7805 earlier. Despite higher yields, the dollar
Silver trades at the highs for the day ahead of North American trading Invest in yourself. See our forex education hub. With gold looking rather underwhelming to start the year, plenty of attention in the precious metals space has turned to silver (and platinum) – especially with the recent run in the former towards $30