Technical Analysis

Sellers stay poised to target the 0.8700 level next In some ways, the pair is trading as more of a divergence in the virus/vaccine narratives as things are progressing far more smoothly for the UK than it is for Europe. With cable also looking poised to move towards 1.4000, the shove lower in EUR/GBP is

Crude sizzles higher So much for the mini-correction in oil. WTI crude oil is now up $1.08 on the day to $59.34. It traded as low as $57.41 earlier. Brent sailed through $60 this month and is now testing $62. Will WTI be the next? If today’s candle holds that bodes well on the technical

The earlier fall below the 100 hour MA could not be sustained. Sellers turned to buyers. The AUDUSD is looking toward the week’s trading high after snapping back higher on a failed break of the 100 hour MA earlier today (see blue line in the chart below). The high for the week comes in at 0.7771.

Follows USD lower and oil prices The USDCAD just a few hours ago was testing and breaking above its 200 hour moving average for the 1st time since February 5. The the high price extended up to the low of a swing area between 1.2762 and 1.27645. The 50% retracement of the move down from February 2

Dow industrial average is still negative on the day The S&P and the NASDAQ index is back into the red, joining the Dow industrial average with a little lower in our to go in trading. For the week, the major indices are up marginally: S&P index is up 0.77% NASDAQ index is up 1.24% Dow

Russell 2000 index closes with the largest gain this week The S&P and NASDAQ are closing the week at record highs after a late day rise to session highs. Major averages close higher for the 2nd straight week All 4 major averages close the session higher the Russell 2000 did not close at a record

EUR/USD falls to 1.2105 and nears a test of its 100-hour moving average The greenback is higher across the board in European morning trade and is starting to run against some key levels on the charts today. Of note, EUR/USD is now down to near 1.2100 as price closes in on a test of the

Dow industrial average and near unchanged. S&P has a modest gain the major stock indices are ending the session with mixed results: S&P index rose 6.48 points or 0.17% to 3716.35. The high reached 3925.99. The low extended to 3890.39 Nasdaq moved higher into the close and closed up 53.239 points or 0.3% at 14025.77. The high reached 14058.91. The low extended to 13916.84

GBP/USD falls from 1.3850 levels to 1.3816 in the European morning A bit of a nudge lower in cable as buyers back off after testing some swing region resistance around 1.3856 this week. That is now seeing cable test the low from earlier in the day around 1.3821 though the key level to watch remains

S&P, NASDAQ, Russell 2000 all close lower on the day Looking at the major stock indices, the Dow industrial average is the only one positive. It also closed at a record high level. Other highlights for the day included: The S&P fell for the 2nd day in a row The NASDAQ index snapped a 4 day

The greenback falls to fresh lows on the day There’s still no reprieve for the dollar this week as the greenback slides to fresh session lows in the European morning. EUR/USD is up to a high of 1.2143 and looks towards the 50.0 retracement level of the swing lower to start the year @ 1.2150:

Modest changes for the major indices The Nasdaq and Russell 2000 both closed at record levels, but the S&P and Dow could not hold onto gains and are closing lower (and not at records).  All were only modest gains or losses.   The final numbers are showing: S&P index -4.33 points or -0.11% at 3911.26 NASDAQ

The dollar is struggling once again in trading today Invest in yourself. See our forex education hub. Things are getting rather dicey for the dollar this week as we now see EUR/USD hit 1.2100 upon rebounding from its 100-day moving average (red line) at the end of last week, with USD/JPY also tracking further below

Russell index rises by 2.36% The major indices are all closing at record high levels, with today the Dow Industrial Average joining the S&P, Nasdaq and smaller cap Russell 2000 index (they each closed at records on Friday).   The indices are also closing near the highs for the day. Leading the way is the Russell 2000 which is

Dollar pushes slight gains across the board to start the day EUR/USD has eased from 1.2045 to a session low of 1.2025 but still keeping within its key hourly moving averages for the time being, as the dollar gains some slight ground across the board on the back of higher Treasury yields. Elsewhere, the greenback

Ups and downs continue in the NZDUSD pair The NZDUSD has tilted the bias back to the upside after moving back above the 50% of the range (going back to January 20) and the 100 and 200 hour MAs. Those three technical levels are between 0.7176 and 0.71809.   The lows today tested the low from Tuesday

German DAX falls slightly breaking the 4 day win streak. Italy and Spain have risen for 5 consecutive days The European shares are ending the session with mixed results. Italy and Spain led the way today and in this week. Each of their indices increased every day this week. A look at the provisional closes

Up for 8 consecutive hourly bars The EURUSD has extended to new session highs and in the process has moved above the high price from yesterday at 1.20422. The high from Wednesday at 1.2050, and the 50% retracement of the move down from the January 29 high comes in at 1.20534. Those are the next upside targets.   The pair is