National Australia Bank technical analysis on AUD/yen ()note the time scale of the chart – this is a longer-term picture: NAB note the break of the downtrend line but the upside is not yet secured. The September month-end close is now crucial. Above 77.40/60, MT uptrend confirmation remains in play. Below 75.43 the risk of
Technical Analysis
Dow snaps 4 day win streak The major US stock indices closed down on the day, but it could have been worse. Then again in could have been better too. The major indices are closing near today’s the middle of the days trading ranges. The Dow industrial average was the relative best performer. In fact at 1
S&P index now negative on the day. NASDAQ index with declines the US stocks have slipped into the negative. The S&P index is currently down 3.4 points or -0.10% at 3397.65. The NASDAQ index is down -85 points or -0.76% at 11104. The Dow industrial average remains up by 87 points or 0.32% at 28085.
Dow is up 396 points at session high The US stock markets rolled over into the close with the Nasdaq leading the declines. The S&P winning streak of 3 days was snapped. The Dow closed higher but gave up nearly all of its close to 400 point gain at the session highs. The final numbers are showing: S&P index -15.71
Less than 25 minutes to go Tomorrow is FOMC day. The Fed is expected to extend the time for the next move given the Chair Powell’s announcement at Jackson Hole virtual summit that the Fed would be using an average of the inflation rate going forward (vs the more static 2% target). The US stocks
The S&P gain closes between the Dow and NASDAQ All the major indices close higher but well off highs and also with differing gains: The Dow and S&P closed higher for the 3rd straight day. The NASDAQ index is on a today winning streak. The final numbers are showing: NASDAQ index up 133.67 points or
Majors indices remain off the highs the NASDAQ index is back up over 2% after correcting lower in the early New York afternoon session. With 15 minutes to go in trading, the NASDAQ is up 223 points or 2.06% at 11077. The high price reached 11118.29. The Dow industrial average is up 376 points or
NASDAQ steps 2 day losing streak The major indices all closing higher. The small-cap Russell index at its best day since July 15 rising by 2.65%. The NASDAQ index snapped it’s 2 day losing streak. All 11 sectors of the S&P index closed higher. The US indices are trying to rebound after back to back weekly
EURUSD above key MAs and trend lines… The EURUSD peaked on September 1 at 1.20105. The move above the key 1.2000 level was short and sweet (only a part of an hourly bar). Looking at the daily chart above, the subsequent move lower took the price last week to a low of 1.17518. That was
The 100 week MA comes in at 1.27448 The GBPUSD’s high for the week was on Monday at 1.3256. The low was reached on Friday at 1.27614. The high to low trading range was an oversized 515 pips (highest since March 22 week). The price action was a trend move lower (although Wednesday did close
New lows of the day Stocks are in charge at the moment and the fresh weakness has sent commodity currencies to fresh lows and cable continues to take an absolute beating, down almost 200 pips. Yesterday’s stock market price action was all about filling in the opening gap from Tuesday. Today’s is all about falling
EUR/USD buyers look to seize back near-term control The dollar is easing to fresh lows to start European morning trade, with EUR/USD rising towards 1.1850 now and challenging a potential break back above its 200-hour moving average @ 1.1841 (blue line):For bank trade ideas, check out eFX Plus This comes as European equities are also
Cable is lingering at session lows just below 1.2800 currently GBP/USD is down to a session low of 1.2785 as the pound is struggling to for respite amid the ongoing Brexit uncertainty seen throughout the week. The pair is sitting lower despite the fact that the dollar is seen weaker for the most part against
AUD/JPY didn’t make a significant move and USD/MXN keeps breaking down It was a whirlwind week but if you take a step back, there were really three themes: Tech stock weakness, a drop in sterling and oil softness. You can strip all those things out as idosyncratic factors and then you’re left looking at something
EUR/USD moves to a session high of 1.1874 For bank trade ideas, check out eFX Plus Dollar weakness is partially the story here but the euro is keeping up with gains seen in commodity currencies so far on the session, amid the more upbeat tone in US futures with S&P 500 futures up ~0.9% and
Not a pretty day Yesterday we filled Tuesday’s gap lower. Today we filled Wednesday’s gap higher. The S&P 500 is down 65 points to 3334, or 1.9%. It’s nearly 100 points from the highs of the day. Looking at the euro, the climb on Lagarde’s comments was the ‘right’ trade, even if it didn’t change
EUR/USD price action is trapped in between its key hourly moving averages The pair is sitting a little higher on the day, trading around 1.1820-30 levels in European morning trade so far but the technical bias isn’t hinting at much for now. The bounce from yesterday comes after the pair met daily support from the
Little support seen in cable as the fall under 1.30 continues For bank trade ideas, check out eFX Plus The bill has caused a major ruckus among EU and UK lawmakers over the past week, and in turn has sent the pound into a tailspin as the decline continues today. Cable is down 0.4% to