Technical Analysis

The scare for lower growth and increasing unemployment was lessened today after initial jobless claims came in lower-than-expected 233K versus 250K last week. Maybe the employment picture is not so alarming after all. If bad data is bad for the market, good data has to be good for the market, and that is what we

The initial jobless claims came in lower than expectations, and that has helped to push the US dollar higher. In the kickstart video above, I take a look at three of the major currency pairs from a technical perspective – the EURUSD, USDJPY and GBPUSD. What has been the impact from the data and what

The major US stock indices are giving back some of their gains. Although they are still higher on the day, there has been some damage done technically. Looking at the S&P index, it opened today and moved above its 100-day moving average at 5309.32. The high price for the day reached 5330.64 but has since

The major US stock indices are opening sharply higher. at 15 minutes after the open, the major indices are showing: Dow Industrial Average average is up 307 points or 0.79% at 39302 S&P index is up 75 points or 1.42% at 5315. NASDAQ index is up 309 points or 1.89% at 16666 The small-cap Russell

A lot has been said about the “carry trade” liquidation that helped contribute to a -12.4% decline in the Nikkei 225 on Monday. There are some that think the unwind is just getting started. In this video, I take a look at the weekly chart of four JPY pairs – the USDJPY, GBPJPY, EURJPY and

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The price of crude oil settled down -$0.58 on the day at $72.94. The low for the day reached $71.67. The high reached $74.46. Crude oil futures settle lower for the third consecutive session. Prices settled well above the day’s lows. Impact from the global equities selloff eases, causing a brief midsession move into positive

Fundamental Overview At one point it looked like the worst was behind us as the S&P 500 rallied almost 3% on a single day following the BoJ and FOMC decisions. Unfortunately, the following day we got an ugly US ISM Manufacturing PMI which sent the market into risk-off and defensive positioning into the US NFP

The Nasdaq index opened lower, rallied up and briefly moved above the 100-day MA at 16876.83 Just above that sits at the 50% of the move up from the May low to the July high. That level came in at 16946.92. THe high price today reached 16920.63 between the two levels. Buyers turned to sellers.

The decline in the US stock market and the fall in yield has the USDJPY moving below are as well. However, it has now reached a key swing area target. That level comes between 145.90 and 146.514. The low price just reached 146.53. The area will test the seller’s conviction. Can they get below the

The USDCHF has moved sharply lower today on the back of the weaker US jobs report, sharply lower yields, and lower stocks. The CHF tends to be a safe-haven currency in times of trouble, and that is what we are seeing in the fair today as it races away from its 100 hour moving average.

The GBPUSD is higher on the day in sympathy with the dollar selling after the weaker US jobs report. However, the move to the upside did find willing sellers near a swing area target area between 1.2644 and 1.2667. That area did stall earlier rallies this week ahead of the interest cut by the BOE

In this video, I take a technical look at the major currency pairs vs the USD. As a bonus, I also take a look at the 2 major stock indices as traders prepare for the new week. Including (along with the time on the video): EURUSD 0:15 USDJPY 2:15 GBPUSD 3:38 USDCHF 5:25 USDCAD 6:37

The USD is lower. Yields are lower with the 2-year down -28 basis points. The 10 year yield is down -18 basis points. Stocks are moving lower from already depressed levels after the weaker US jobs report. S&P index is down -101 points. Dow Industrial Average was -575 points. NASDAQ index -476 point. The market

The old adage is that if the US catches a cold, Canada gets the flu. The market is certainly sending warning signals about the US economy as yields plunge but USD/CAD hasn’t made a decisive move yet. But that moment might not be far off as the pair threatens a trio of highs from the

Fundamental Overview The Nasdaq has been on a steady decline since the last US CPI report on July 11th. In the first stages of the pullback, we’ve been seeing a rotation from big cap stocks into small cap stocks as the Russell 2000 displayed an opposite price action. Eventually, the bearish momentum picked up and

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Fundamental Overview The S&P 500 has been on a steady decline since the last US CPI report on July 11th. In the first stages of the pullback, we’ve been seeing a rotation from big cap stocks into small cap stocks as the Russell 2000 displayed an opposite price action. Eventually, the bearish momentum picked up