Technical Analysis

Looks toward the all time intraday high from yesterday at 11462.05 The NASDAQindex has climbed to a new session high, taking out the high price from earlier this morning at 11435.68. The high price just reached 11437.77. The next target comes in against the intraday high price from yesterday at 11462.05. That was also the

AUD/USD price action is focused around key near-term levels currently For bank trade ideas, check out eFX Plus The topside move yesterday was capped by the 100-hour MA (red line) once again and that saw sellers regain near-term control in a push back under the 200-hour MA (blue line) – where price action continues to

Of $0.28 or 0.66% The price of the October crude oil contract is settling at $42.62. That is up $0.28 or 0.66%. The high price today reached $42.89 while the low price extended to $42.23. The 50% retracement of the 2020 range for the October contract comes in at $42.00 day moving average currently comes

What levels are in play for the EURUSD The EURUSD this week, moved up on Monday and Tuesday and in the process moved to the highest level since May 2018.  The high price reached 1.1965.    Looking at the hourly chart below, the price cracked above a topside channel trendline in the process, but failed on

Down $0.48 or 1.12% The price of WTI crude oil futures settle that $42.34. The last 7 weeks have settle between $42.02 and $40.27.  Week ending Fri 3 July: $40.65  Week ending Fri 10 July: $40.55 Week ending Fri 17 July: $40.59 Week ending Fri 24 July: $41.29 Week ending Fri 31 July: $40.27 Week

The price is above the all-time high close the S&P index is making new session highs at 3396.86. That has pushed the price above the highest all-time closing level of 3389.78. The all-time high price reached 3399.54. The Dow is also trading at new session highs. It moved up to a high price of 27931.26 and

CFTC commitment of traders: EUR longs remain near record levels Coming Up! Title text for next article LON +1 SDNY+10 NY -4 TYO +9 GMT Technical Analysis Weekly FX speculative positioning data from the CFTC EUR long 197K vs 200K long last week. Longs trimmed by 3K GBP long 7K vs 3k short last week. Positioned

Dow industrial average leads the way the S&P and NASDAQ index both closed at record levels, but for the day the Dow industrial average was the biggest percentage gainer. The final numbers are showing: S&P index up 11.73 points or 0.35% at 3397.24. The NASDAQ index rose 46.848 points or 0.42% at 11311.80 Dow industrial

The JPY is the strongest and the EUR is the weakest. London/European traders have just left the buidling for the weekend.   As they exit, which currencies have done well this week and which not so well?   The strongest of the majors is the JPY.  It rose the most vs the EUR (+1.28%) and the least

Major indices close higher The NASDAQ index close at a another record high. The previous high close came in at 11,210.84. The index close today at 11,264.95. The S&P index traded above its all-time high closing price but could not sustain the gains into the close. The final numbers are showing: S&P index up 10.69

Fall from 200 hour MA and back below 100 hour MA The USDCAD has moved down to test support ahead of the week’s lower extreme swing area. The 1.31689 to 1.31731 is home to swing lows and highs going back to Tuesday’s trade (see green numbered circles and lower yellow area).  The low price just extended to the high of that

The thing about key reversal days in FX is when is the close? Gotta pick a time and stick to it I guess, although the end of NY trade does make some sense. Anyway – AUD key reversal day (there are more in other currencies today also, feel free to post in the comments): Key

Sellers eyeing the 100 hour MA?   The 50% is now a close intraday risk level now. On more downside momentum the price would start to catch up with the rising 100 hour MA.  That MA comes in at 1.31364 and moving higher.  There is a swing area just above at 1.3142 to 1.3147.  I

Dow falls on the day Both the S&P and NASDAQ index closed at record highs today. The gain in the S&P index from the March low has now risen over 54%. The Dow industrial average did not fare as well. It fell by -0.24% on the day. The NASDAQ index continued its surge and outperformed

200 hour MA and trend line stalled the fall. Keeps the buyers in control. The price of silver has had an up and down day today but is currently trading up $0.60 or 2.2% at $28.09. The high for the day reached $28.47, while the low extended to $27.11. Technically, the low in the Asian session

Gold trades back above key near-term levels For bank trade ideas, check out eFX Plus Gold was a notable mover in US trading yesterday, with the dollar weakness also helping out the precious metal as it advanced towards the 200-hour MA (blue line). That helped to stall overnight gains but buyers are finding more momentum

Also testing the February low of 1.32015 The USDCAD is trading near its lows after falling below the low from Friday at 1.32053 and also the swing low going back to February 2020 at 1.32015. That’s the bearish news. The not so bearish news is that the low price reached 1.31939 which was just above

50 hour moving average at 10999.40. The Nasdaq index has cracked below its 50 hour moving average near 11,000.   Looking at the hourly chart, the high from Monday reached 11126.037. The high price yesterday was just below that level at 11124 .85. The fall below the 50 hour moving averages a tilt to the downside from a