Technical Analysis

S&P and NASDAQ index is still close at record highs The major indices close higher but come off the highs and last hour so trading. Nevertheless both the NASDAQ and S&P closed at record high levels. The NASDAQ closed at record highs for the 46th time this year. A snapshot of the close shows: S&P index up

Rockets above ceiling area on Brexit deal hope The GBPUSD has liftoff. As Adam posted: Looking at the hourly chart below…. ….the pair earlier today was able to get above the swing highs from November 23 and November 26 at the 1.3397 level, but the high could only reach 1.34054 before rotating back to the downside. This next move

Major indices lower on the day. The US major indices close lower in last trading day of the month, but that did not subtract from the month’s solid performance: the Dow industrial average had its best monthly performance since January 1987 the S&P 500 and NASDAQ had their best months since April the S&P, NASDAQ, and Dow industrial

USDJPY higher on the day. Trades above and below MAs in choppy trading The USDJPY is choppy around a bit ahead of the London fix (month end). The pair is higher on the day, and has been trading above and below the 100/200 hour MAs. The highs for the day have been able to stay

Flows into back into EUR today.   The EURGBP has moved back above its 200 day MA at 0.89547 (green line in the chart below).  The pair has been wandering higher over the last 4 days after bottoming in the 0.8860 to 0.88798 swing area and the 50% of the range since December 2018 low at

UK FTSE recovers earlier declines. The European shares are closing higher on the day. The UK FTSE is closing higher after trading sharply lower earlier in the day (-0.95%).  It is closing up 0.07%.  A look at the closes shows: German Dax, 0.37% France CAC, 0.56% UK FTSE, up 0.07% Spain’s Ibex, +1.06% Italy’s FTSE

Corrective run higher, runs out of steam and tumbles back down The GBPUSD has fallen back below it’s 200 hour MA at 1.3311. The pair also fell below a swing area between 1.3309 and 1.33116. The pair moved down to test Tuesday’s low at 1.32912.   The run back to the downside erased the early New York session gains which is

200 hour MA at 104.11 The USDJPY is lower on the day and trades below the 200 hour MA at 104.114.  Admittedly, the price has traded above and below that MA level.  Early in the Asian session, the price fell below the moving average line and continue to the low for the day at 103.90. The subsequent rise

Down $0.18 on the day The price of WTI crude oil futures settle that $45.53. That’s down $0.18 or -0.34%. The high for the day reached $46.09. The low extended to $45.55. Technically, the price found support buyers against the swing high from August at $44.59. That was the highest level going back to March.

Retest of the high from Tuesday. The NZDUSD is retesting the high from Tuesday’s trading at 0.7004.  The pair has been pushing higher since bottoming near session highs from Mondays trade around the 0.6962 to 0.6967 area (the low today reached 0.6960).  Staying above that swing level keeps the buyers more in control. Yesterday the pair moved sharply higher after the

Let’s find out who has the upper hand Wild price moves are no stranger to crypto traders and it looks like the volatility is back. After a one-way move from $1200 to just shy of the 2017, crypto has tumbled today. The alts have been particularly hard hit but bitcoin is also down 12% to

Oil up 37% from the election-night lows What a turnaround in oil from a month ago. It’s up 37% since election night and 12% in a week as it breaks out to the highest since March. Today’s price action though looks like a bit of a short-term blow off. It spiked to $46.26 into the

Nasdaq index higher The US remain mixed after record closes in S&P and Dow yesterday. Both those indices are lower. The Nasdaq index is higher.  The snapshot of the major indices currently shows:  S&P index down 8.91 points or -0.25% at 3626.24 NASDAQ index up 32.27 points or 0.27% at 12068 Dow down -172.72 points or -0.57% at 29876.  

Russell 2000 closes at a record high as well The Dow, S&P and Russell 2000 all closed at record levels for the day. Moreover, the Dow 30 close above the 30K level for the first time ever.  The S&P had the best day in 3 weeks. The final numbers are showing: S&P index up 57.84 points or 1.62% to  3635.42

Takes at the high price from December 2018 today The RBNZ said that they are mulling the idea of including housing prices as a consideration in their monetary policy decisions. That could see a tighter RBNZ as they try to control runaway upside demand and prices.     The news has sent the NZDUSD sharply to the upside and in the process took

Volatile NY session The EURUSD traded to the highest level since November 9th taking out last week’s highs in the process between 1.1890 and 1.18931. The high price reached 1.19053. Then all hell broke loose. The Markit PMI data came better than expected and there was a run into the USD. That move saw the

The dollar is keeping weaker across the board so far today For bank trade ideas, check out eFX Plus EUR/USD is once again testing the 1.1900 handle, reaching a high of 1.1906, as the dollar is seen weaker so far in European trading today. Risk remains in a better spot with European equities posting a

The AUDUSD pair remains within the up and down 12-day trading range Since breaking above 0.7221 on November 5 (taking out the high from November 4), the pair as traded between that level and the high at 0.73392 (around 120 pips).  We are in day number 12 since that break.  Over that time period, the price retested the 0.7221 level on