Technical Analysis

Gold up $37 to $1966 Gold is back in the saddle today and on track to close at the best levels since Aug 18. It’s all about the dollar today as it trades off of that and Treasury yields. At the same time, you get the sense this is a market that’s really searching for

Cable breaks out Cable edged above the August range yesterday but has redoubled the effort today in a nearly 150 pip surge. The rally broke above the monthly high and the January high, which means the pair is now in the green year-to-date. It’s been an impressive turnaround and even moreso given that the BOE’s

Continuation of the trend One of the major divergences in markets in the past two months has been the lack of enthusiasm in emerging market currencies. Most — if not all — are way below pre-pandemic levels. Among the laggards are the LatAm currencies, including BRL, MXN and COP. All three are near the top

Fits and starts USD/CAD earlier today looked like it was finally making a definitive break of the late-August rally but a few hours later, it’s 75 pips from the lows and unchanged on the day. The loonie has been a tough trade in the pandemic and that continues to be the case. For those looking

AUD/USD trades to its highest levels since December 2018 For bank trade ideas, check out eFX Plus The drop in the dollar post-Powell and the risk-on party is continuing to fuel a further upside run in AUD/USD, as we see price trade above the 0.7300 handle for the first time since December 2018. Price action

Down $0.35 or -0.81% The price of WTI crude oil futures are settling at $43.04. That is down $0.35 or -0.81%. The high price reached $43.50 while the low price extended to $42.36. The price close is back below its 200 day moving average of $43.20 after 2 days of closing above that key moving

Dow within 1% of unchanged on the year the S&P and NASDAQ index are closing at record levels once again with strong gains of over 1%. The NASDAQ outperformed with a 1.73% rise. The Dow industrial average was down earlier today but pushed to the upside and is closing within 1% of the closing level

Up $0.04 or 0.09% The price of crude oil futures settle that $43.39. That was good enough for a 4% gain or 0.09% rise. The high price for the day reached $43.78 while the low price extended to $43. Technically, the price close above its 200 day moving average for the 2nd consecutive day. That

S&P index and NASDAQ go out near highs as well The S&P and NASDAQ index are closing at record highs once again. The broader indexes also traded to new all time high prices today.  The Dow industrial average close lower her by Apple and Boeing. The final numbers are showing: S&P index rose 12.37 points or 0.36%

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