2nd tested this week The NASDAQ index continues its run to the downside. It currently trades down -141 points at 12263.81. The low price reached 12257.069. Technically looking at the hourly chart, the pair is testing its 100 hour moving average currently at 12263.18. The low on the last hourly bar dipped below the moving average
Technical Analysis
S&P and Dow industrial average fall The US stocks end the session with mixed results. The NASDAQ index rebounded a portion of its sharp -1.94% decline from yesterday. The S&P index in the down industrial average each closed lower for the 2nd consecutive day. The S&P and Dow are on pace for the 1st weekly
Trendline support at 0.8849 stalls the fall The USDCHF fell to another new low going back to January 2015 today, cracking below the low from yesterday at 0.88704 in the process. The low price extended to 0.88513. That low, however, found dip buyers ahead of a lower trend line on the hourly chart at 0.8849,
It starts and ends with commodities Iron ore hit a fresh 7-year high today and has gained almost 50% since the s tart of November. Copper prices are at an 8-year high and have gone straight up since March: Tesla is one of the all-time great parabolic moves and it keeps going higher despite valuations
100 hour moving average for USDCHF at 0.8900 The USDCHF has moved above its 100 hour moving average at 0.89008 and trade at the highest level since Monday. The break of the moving averages the 1st since December 1 when the moving average was up at around 0.9068. The low price today reached 0.88702. That was good enough for a
All 3 major indices reach intraday all-time highs The NASDAQ and S&P are each closing at record highs. All 3 major indices (NASDAQ, S&P, Dow) traded intraday to record highs. The Dow however, could not close at a record high. PS the Russell 2000 closed at a record level as well. The final numbers are showing S&P index rose
USDCAD traded to new low for the month and year (going back to May 2018). The USDCAD moved to the lowest levels since May 2018 this week. The lows broke below the October 2018 low at 1.27818. However, the low could only get to 1.27704. There is some hesitancy at the lows. Putting it another
Gold breaks the New York highs Gold has continued to find a bid in Asia-Pacific trading, rising another $5 to $1868 to top the high in New York. There has been a non-stop bid since the start of the month. That’s almost wiped out the late-November slump. A return to the Nov 23 high of
A new low level going back to January 2015 The USDCHF trade to the lowest level since the week of January 25, 2015 last week at 0.88849. Today the price corrected higher in the fall to the downside over the last 5 hours and trades to a new session low – and new low going back
Bounced off the 200 hour MA earlier today The NZDUSD has corrected lower in trading today after trading to the highest price since April 2018 yesterday. The moved to the downside has taken the price below its 100 hour moving average (blue line in the chart above) and down to the 200 hour moving average (green line). The low
5th straight weekly increase The WTI crude oil futures are settling at $46.26. That is up $0.62 or 1.36%. The gains this week were the 5th straight weekly increase. The high today reached $46.68. The low extended to $45.61. Technically, the high price extended above the 61.8% retracement of the 2020 trading range at $46.43,
Below trend line/38.2% retracement/swing highs from Tuesday and Wednesday The headline news that the EU/UK would not reach a deal today, has sent the GBPUSD now below the support defined by the: 38.2% at 1.3442 Swing highs from Tuesday and Wednesday at 1.34408 and An upward sloping trend line at 1.3441 The low reached 1.34242.
Some profit taking ahead of the weekend The EURUSD is trading to a new day low as the clock ticks toward the close. For the week, the EURUSD moved above old swing lows from Jan, March and April 2018 between 1.2153 to 1.2164, but could only reach 1.2177 before sellers reentered. The low for the day
Major indices close near highs All 3 major indices close at record highs today. The Dow and S&P close higher for the 2nd consecutive week The NASDAQ close higher for the 3rd consecutive week The S&P index outperformed the Dow and Nasdaq although all closed near session highs. The final numbers are showing: S&P index rose 32.4 points or
EUR/USD inches to a session high of 1.2170 For bank trade ideas, check out eFX Plus The dollar is maintaining a modest advance against the aussie and kiwi, with even the yen trading lower against the greenback so far in European morning trade. However, EUR/USD continues to be a technician’s dream as the breakout extends
Cable bounces back after small dip Even the 20-pip dips are being bough in cable today. That’s a great sign for the bulls but 1.35 is putting a ceiling on the pair for the moment. I remain a bull but I think the short-term trade is to go with a break of the range from
The buyers try to push through the ceiling The AUDUSD has tested the 200 hour MA on three straight days. Each got close to the line (see green line), with buyers leaning ahead of the level. The run up today, first cracked above the 100 hour MA (0.73716), and then ran above the topside trend
Spain’s Ibex also higher on the day The major European indices are closing the day with mixed results. The gains were led by the FTSE 100. The Spanish Ibex also moved higher. The German DAX lagged. The provisional closes are showing: German DAX, -0.55% France’s CAC, unchanged UK’s FTSE 100, +1.2% Spain’s Ibex, +1.0% Italy’s