The GBPUSD has reached the lower support target at 1.31074 The GBPUSD has reached a new day low and in the process has moved to test its 200 hour MA at 1.31074 (green line in the chart below). IN the process, the price has moved below the swing lows from Monday at 1.31166 and 1.31217.
Technical Analysis
Dow industrial average closes lower for the 1st time this week The NASDAQ index led the charge today the gain over 2%. As it closes near session highs NASDAQ snapped today slide Dow industrial average snaps 2-day rise NASDAQ closes higher for the 1st time in 3 days. The pair fell -1.53% on Monday, and
German DAX has been up 7 last 8 trading days The major European indices are closing higher for the 3rd consecutive day. The CAC has been up for 8 of the last 9 days, and the German DAX has been up 47 the last 8 trading days. The provisional closes are showing German DAX, +0.5%
S&P index falls marginally For the 2nd consecutive day, there has been a rotation out of NASDAQ stocks into the Dow 30. The S&P is caught in between and little changed on the day. NASDAQ down for the 2nd straight day Dow closes near session highs S&P closes near unchanged Dow transports post record close
EUR/USD falls below 1.1800 to a session low of 1.1780 For bank trade ideas, check out eFX Plus The pair is slipping to fresh lows on the session as we see EUR/GBP also move lower to test 0.8900, past its 200-day moving average @ 0.8920. The euro is struggling to find some footing on the
Dows best day since June 5 The major indices opened sharply higher on the back of the Pfizer news on a vaccine. The gains were led by the Dow industrial average the S&P index. The NASDAQ index went along for the ride early on. However, a late day selling pushed the NASDAQ into negative territory. The
The USD is trading mixed as Dow stocks soar on Pfizer vaccine results The AUD is the strongest and the JPY is the weakest as traders react to the election and the new that Pfizer vaccine is 90% effective. The news has investors piling into Dow related stocks including banks and energy, along with beaten
Choppy session in the GBPUSD The GBPUSD pushed above the choppy highs at 1.3156 and ran up to 1.3176 in the process. That tested the October 21 high at the same level, and the price has rotated back to the downside. The pair still remains above the 1.3156 level. A move below that level (and stay below) should see the buyers turning to
S&P index near unchanged the NASDAQ index has turned back positive for the day. It is currently up 4 points or 0.03% 11894.92. The high price reached 11899.18. A gain today would be the 5th consecutive day with a higher close. The S&P index is trading unchanged at 3510.46. It too is on a 4
WTI crude oil futures settle down $1.65 or -4.25% WTI crude oil futures are settling at $37.14. That is down $-1.65 or -4.25%. The high price today reached $38.61 the low price extended to $37.06 Technically, the price has been moved back toward the swing low and retracement area between $36.93 and $37.11. Next week
The 100/200 day MA stalled the rally on Wednesday. Nevertheless, a Trump victory would hurt the MXN (he is just a hibernating bear). A Biden victory would conversely be more positive for the MXN (weaker USDMXN), even if it is only the relief that bear has left the neighborhood. Also the post, a move to the upside would target the 100 and
NASDAQ closes up 9% for the week The major indices are closing little changed. The NASDAQ index closed marginally higher for the 5th consecutive day the S&P index fell marginally snapping a 4 day winning streak the Dow industrial average also fell snapping its 4 day winning streak major indices have their best week since April
Dow, S&P and NASDAQ on track for the best week since April The major stock indices closed sharply higher for the 4th consecutive day. The Dow, S&P and NASDAQ on track for the best week since April: 10 of the 11 sectors of the S&P closed higher with energy dipping into the negative at the
Pair reaches toward recent highs The GBPUSD has had its share of ups and downs over the last few days, but the pair is currently on a run to the upside which is approaching swing high levels going back to October 20 -23 and yesterday. The high price just reached 1.3114. The next upside target comes in at 1.31217 which was
But problems with the small-cap. Russell 2000 index closes unchanged. The major indices closed sharply higher despite the uncertain election outcome. The NASDAQ index led the way to the upside. Some highlights for the day include: Major indices closed higher for the 3rd straight day. S&P closed as highest level since June 5 NASDAQ leads
NASDAQ index up over 2.5% The major US indices are continuing their run to the upside seen this week. The NASDAQ index is a leading the charge with a gain of 2.7%. A snapshot of the market currently shows: S&P index up 55.7 points or 1.65% 3424.65 NASDAQ index up 311 points or 2.79% 11470
Florida an early key The dollar has fallen to new lows as the Florida vote starts to come in. Remember, the vote can swing and sway and so can the markets as a result. Liquidity conditions can be light adding to the swings. EURUSD. The EURUSD has moved above its 200 hour MA and 50%
What’s that about election jitters again? The market is seemingly less worried about a tightly contested election for the time being as we see the dollar sold off in European morning trade, while stocks are feeling rather comfortable with European indices pushing near 2% gains now. US futures are also trading up by over 1%