Runs away from the 100 hour MA The USDJPY has caught the dollar buying fever and trades at its highest level since Tuesday. That is not saying much as the pair has been in a narrow range of 105.293 to 105.866 since Tuesday afternoon. That is not a lot of price action. Nevertheless the price is breaking outside of the range and running
Technical Analysis
Oil tries and fails on a break again WTI Crude oil finished the day down 24-cents to $41.95. It rose as high as $42.87 to break the July high of $42.40 for the second day but once again it couldn’t hang onto the level. I’m starting to get worried about OPEC. The last week has
Run above the 1.1908 level fails. The EURUSD in the early European session ran above the previous highs at 1.19043 and 1.1908. The price reached 1.1916 but quickly reversed. Buyers quickly turned to sellers. The price over the last 6 hourly bars has been shopping between a low of 1.18308 and a high of 1.18697. We currently trade between those levels
The EURUSD reaches the July highs and backs off The EURUSD trended higher into the NY session and looked toward the July highs at 1.1904-08. The high reached 1.19043 but could not go any further. Sellers leaned and the price has rotated lower over the last 3+ hours. See the earlier post. The move to
Disney helps to push the Dow higher The major indices are opening higher after Disney’s earnings and their pivot away from theaters and more toward their Disney plus channel. They announced that they would release Mulan on that station for a one time fee of around $30. Disney shares are up over 6% on the day
Late day rally takes the indices to new session highs the major indices rallied into the close and as a result are closing near/at their highs for the day. The Dow industrial average led the way today with a 0.62% gain. The S&P index and NASDAQ index each closed up around 0.35%. The NASDAQ closed
Gold and so are off low levels the US 5 yield has fallen below the 0.20% level to a low yield of 0.1949%. That is a new all time low. The high yield today reached 0.2232%. The fall yield has helped to send gold back up toward unchanged and trades above and below the unchanged level. Silver is also
Major indices get off to a good start for the month of August The US stock indices are all closing higher with the NASDAQ leading the way to the upside. The NASDAQ is on a 4 day winning streak. The S&P and Dow have been up for 2 consecutive days. The S&P 500 is closing less than
High price today reached is 10883.633. The high close of 10767.09 is also broken The NASDAQ index is stretching to yet another all-time high. The price has extended up to 10883.63. The current price is trading at 10874. The move to the upside has extended above its high close at 10767.09 and also above the
New lows for EUR, JPY, CHF, AUD, NZD him There is some more dollar buying as London traders exit. The EUR, JPY, CHF, AUD and NZD have all just moved to new session lows vs. the greenback. The USDCAD has moved back higher after quickly dipping below the 100 hour moving average and failing. The GBPUSD is reluctantly moving
Is that the dollar higher? The pattern of late has been lower dollar/higher stocks. The dollar continues its move to the upside today, its Friday, its month end. The earnings fears are gone mostly at least for most of the high flyers. The coronavirus bill is an impasse. So why not go the other way in
The 105.978-1.06063 is the ceiling (it was the floor) The USDJPY has a floor developed from the May and June lows at 105.978 and 106.067. On Friday last week,the floor was broken, but the price could not close below the area. On Monday of this week, the price traded at a high of 106.084,
Up $0.35 or 0.88% The price of WTI crude oil futures are settling the day at $40.27. That is up $0.35 or 0.88%. The high for the day reached $40.55. The low extended to $39.66. The last 5 weeks has seen the price close at: July 3 $40.65 July 10, $40.55 July 17, $40.59 July
Closes lower for the first time since July 16 All good streaks come to an end and the GBPUSD’s 10 day streak of higher closes came to an end today. The pair last close lower back on July 16. On July 17 the low price reached 1.2511, but closed higher on the day. This week the low was reached
NASDAQ comes off of premarket highs in early trading The day after the big 4 reported much better earnings across the board, the US stocks are opening higher but gains are being eroded in early trading. The NASDAQ index which I saw up as much as 220 points implied by the futures in premarket trading
Major indices trade near their highs at of the key earnings With Amazon, Apple, Alphabet and Facebook all slated to announce earnings after the close, the major indices are well off there lows for the day and trading near their highs for the day. The S&P index and Dow industrial average are still in the red, but the NASDAQ index is
The high yesterday got close to the low on the swing area and 61.8% retracement The EURUSD moved to the highest level since May 2018 yesterday and in the process sniffed the low end of a swing area at 1.18147 and the 61.8% retracement of the move down from the 2018 high at 1.18221. Drilling to the hourly
High extends to 1.18054 The EURUSD approached the low of a resistance area at 1.18147. The high price reached 1.18054 and backed off. The current price is back at 1.1777. Looking at the 5 minute chart, the fall saw the price fall below the 100 bar MA, but found support buyers against its 200 bar moving