Technical Analysis

Some before and after The USD moved higher through the presser from Powell: EURUSD 1.2105 to 1.2100 GBPUSD 1.3704 to 1.3680 USDJPY 104.13 to 104.19 USDCHF 0.8889 to 0.89 2 AUDUSD 0.7675 to 0.7656 NZDUSD 0.7176 to 0.7160. The USD remains the strongest and the AUD remains weakest US stocks moved lower: S&P index -78.14 to -98.96 NASDAQ -238 to -369 points Dow -492 points to -596 points In the US debt

Still down sharply The NASDAQ index open down around -1% and tumbled lower. The low percentage the client reach -2.33% before the price started to rebound. The index has moved back toward the opening levels but still remains down on the day. Looking at the hourly chart, at the lows the index tested the 50 hour MA at 13303.76.  Just

HimMajor indices closing near the lows The major US indices are closing lower on the day.  The NASDAQ breaks a 5 day win streak.  The major indices are also closing near the lows for the day. No records after the S&P and Nasdaq after record closes yesterday. The S&P did extend to a intraday record high.

Price trades between MA levels The USDCHF held support in the London morning/early New York trading against its 200 hour moving average at 0.88819. However the dollar selling in early near trading has push the price below that moving average level. The run to the downside reached 0.88722. That was just above the 100 hour moving

NASDAQ index close higher. Down industrial average has a modest decline The US stocks are closing mixed with the NASDAQ index leading the way to the upside. The Dow industrial average fell modestly but closed near the day’s highs. The S&P was in between although it too closed near session highs.  The NASDAQ index closed at

Up and down day for the pair The GBPUSD moved higher and away from the 100 hour MA (blue line) at the opening. The move to the upside, reached up and through a swing area between 1.3700 to 1.37088 on it’s way to a topside trend line at 1.37224.  The price fell from the trend

But retesting the MA levels as stocks rebound off the lows The AUDUSD trended lower as stocks headed lower into the NY session. There were also concerns in the Asian market that Hong Kong would impose lockdown restrictions as a result of covid outbreak. The price move to the downside worked it’s way back below

Price is trying to stay above the 100/200 hour MAs Yesterday, the USDCAD moved to in another low going back to 2018 but in the New York afternoon session was able to extend back above a swing area between 1.2623 and 1.26294. In a post yesterday afternoon, I outlined that if the price could stay above that level, there

There is more work to do if the buyers are to take more control In a post yesterday, I spoke to how the EURGBP had moved below key support from the daily chart at the 50% of the trading ranges since December 2019 at 0.88788, and a key swing area between 0.88603 and 0.88766. The

Back above the 200 hour MA for the first time since January 12 The EURJPY is making a break(s) higher in trading today.  The first break was to get back above the 200 hour MA. That break took the price up to a topside trend line where sellers initially leaned. After a retest of the

Steady as she goes Cable is 45 pips above the session low and set for the highest weekly close since May 2018. It had a setback today after touching a two-and-a-half year intraday high today but the market is taking the soft PMI and retail sales numbers in stride. It’s another example of the market’s

Russell 2000 index also lower The US stocks are closing mixed with the Dow down, the S&P near unchanged and the Nasdaq higher. The small cap Russel 2000 also closed lower on the day.   All indices closed at records yesterday. The close higher in the S&P and NASDAQ are therefore new record closes today.  The final numbers are showing: S&P

$1.52 vs 1.10 Est  Revenues $20B vs 17.5B estimate Intel earnings will be announced after the close.  The firm is expected to earn $1.10 per share on revenue of $17.48 billion. This compares to the year-ago quarter when earnings were $1.52 per share on revenue of $20.21 billion.  The firm announced earlier this month the

GBP/USD climbs to a high of 1.3730, its highest level since May 2018 For bank trade ideas, check out eFX Plus The push higher in cable comes as we see a further breakdown in EUR/GBP to start the session, with the pair slipping to 0.8832 – its lowest levels since May last year – as

Bitcoin bounces Bitcoin was down as much as 8% today but has cut the loss in half. It’s trading $1500 lower to $34975 after falling as low as $33,387. In the bigger picture, there’s a clear consolidation ongoing in the 30-40K range. Today’s dip below the Jan 17 low could have been a strong negative

Gold trades up by 0.8% on the day For bank trade ideas, check out eFX Plus Price is trading closer to $1,855 currently as gold buyers are starting to try and push things in their favour a little in trading today. Of note, we are seeing price move back above the 200-day moving average (blue

Topside trend line stalled the rally today The EURGBP remains confined in a range with 0.8865 as the low and 0.8934 as the high.  The price has been mostly in that range since January 13 (5 days).  The current price is between those 2 levels at 0.8897. That is also right around the 100 hour moving average at

USD/JPY trades higher but runs into key trendline resistance levels once again just above 104.00 currently For bank trade ideas, check out eFX Plus The pair is benefiting from a more risk-on start to the day, with Treasury yields also climbing upon the return from the long weekend. 10-year yields are up 2.4 bps to