Narrow trading range for the day The EURUSD have moved back below the 1.1100 level after trading up to an intraday high of 1.1113. Recall from posts last week (and from the chart below and above), the broken 61.8% of the range for August is at 1.11115 (chart below). The 1.1000 to 1.1109 were
The pound gains some ground in early morning trades ForexLive Price touches a high of 1.2173 on the session as the pound stays firm since the end of last week. However, key near-term resistance levels are still at play nearby. For now, buyers are running into the swing region around 1.2170-75 with further resistance seen
Major indices close up 1.2% or better The major US indices are closing with provisional gains of 1.2% or better. The numbers are showing The S&P index rose 41.12 points or 1.44% at 2888.71 The NASDAQ index rose 129.38 points or 1.67% at 7895.99 The Dow rose 306.62 points or 1.20% at 25886.01. For the week, despite the solid gains today, the major indices are ending the
CFTC commitment of traders: GBP shorts trimmed modestly. JPY longs increased. Coming Up! Title text for next article Technical Analysis Forex futures positioning data among noncommercial traders for the week ending August 13, 2019 EUR short 47K vs 44K short last week. Shorts increased by 3K GBP short 96K vs 102K short last week. Shorts decreased by
MA will be remembered for the bounces on dips… The price of gold is trading down $-9.08 at $1514.21. The low price extended to $1503.77. The high price reached $1528.10 today. At the session low today, the price stalled at its 200 hour moving average (green line in the chart below). On Tuesday, its low also approached the 200 hour moving average and found buyers.
NASDAQ index down only -0.69% on the week. S&P index -0.94%. Both were down over -3% at the lows for the week The Nasdaq has ticked to a new session high and is down only 0.69% on the week. At the lows, the Nasdaq fell -3.06% from the close last week at 7959.84. The price just reached
New session lows for USDCAD The USDCAD is trading to a new session low for the day and in the process, has cracked below the 100 day MA at 1.3292 and now looks to test the 100 hour MA at 1.32752. Below that the 200 hour MA comes in at 1.3266. The 50% of the
Solid gains for the major indices The European stock markets are closed for the day and for the week and they are ending with solid gains after a not so solid trading week: German DAX, +1.2% France’s CAC, +1.2% UK’s FTSE, +0.7% Spains Ibex, +1.1% (best day in six months) Italy’s FTSE MIB, +1.51% For the week,
Major indices all up over 1% The US major stock indices are all trading above 1% on the day: S&P index, +1.33% NASDAQ index, +1.57% Dow industrial average, +1.05% Looking at the daily charts of each, the price action this week took the price below the hundred day moving averages, but prices have been able to stay above lower
Moves away from 1.1100 level Yesterday I spoke to the 1.1100-09 area (see post here). Those levels were lows from April, May and July. The price moved below those levels at the end of July and early August on the way to the 2019 low at 1.10265 but recovered back to 1.12489. Yesterday, the price
Sellers are looking to chew through bids at the figure level ForexLive That saw EUR/USD fall quickly in a move to test the 1.1100 handle and price has since continued to flirt with the figure level as we approach European trading today. Of note, there are also large expiries lined-up so that may help to
The 1.20968 to 1.21057 is home to the The GBPUSD is back down testing a swing area which before today was home to swing highs for Monday, Tuesday and Wednesday. Earlier in the NY session the area was tested and held. We are back down retesting the area. A move below would be more bearish.
Above week highs and 200 hour MA The GBPUSD got a boost from better than expected retail sales, but the price action slowly moved higher, breaking above the 1.2100 level and swing highs for the week in the 1.20968 to 1.21057 (the high reached 1.21135) and the 200 hour MA (green line currently at 1.21082).
Worst day for the Dow since December The major indices are trading down sharply with the Dow closing at the lows and down -800 points and -3.05%. The Nasdaq was also down over -3% (or -3.02%). The S&P was the best relative performer with only a 2.93% fall on the day. For the Dow, the
Market is stalling but not going far The EURGBP is testing the 200 hour MA and 38.2% retracement at the 0.92337 level (both technical tools are at the level). The price is not running through the level (although there have been some peaks below the line over the last 4 hours including the current bar),
100 hour MA stalling the fall (for now) Up one day. Down the the next. The USDJPY has retraced 61.8% of the move higher yesterday as “risk off” yesterday is “risk on” today. Technically, the price moved lower early and corrected to the 106.63 to 106.674 but could not get above. From there, buyers started
Pair has been trading between the 100 and 200 hour moving average over the last six hours Traders are pushing the USDCHF back up to retest its 200 hour moving average at the 0.97633 level. That moving average was tested earlier in the day on the initial run higher. Since then, the pair retested the 100 hour moving average at 0.9729
Up $2.17 or 3.95% The price of WTI crude oil futures are settling the day of $57.10, up $2.17 or 3.95%. The tariff delay and rising stocks helped the price move sharply higher. Looking at the hourly chart above, the contract price raced from the 200 hour MA on the news headlines. The price moved to
The USD is mixed The AUD is the strongest while the CAD is the weakest as the North American session begins. The major currencies are relatively clustered together with the cumulative changes of the currencies vs each other being less than 1% for all but the AUD and CAD. The USD is one of the
Narrow up and down trading range The NZDUSD has had an up and down day in a relatively narrow 36 pip trading range (for the day). Technically, the “ups” today, were able to stay below a top side trendline, and the 100 hour moving average (blue line in the chart above). That kept the sellers more in control. The price
China troops gathering in Shenzhen has markets preparing for a military him response from China The news of Chinese troops gathering in Shenzhen, has helped to send stocks to lower lows and fears of a military response in the neighboring Hong Kong. The USDJPY has followed to the downside (yields also continue to move lower with
The USD is mixed. The JPY is the strongest and the AUD is the weakest as Hong Kong tensions lead to flight to safety flows. Gold is higher. Oil is lower. Stocks are down. The USD is mixed to start the North American trading week. Of course, US/China trade relations are not on a positive
EURGBP takes out the 2017 highs The EURGBP has moved to yet another new session high and in the process has now taken out the high from 2017 at 0.93057. Price just moved up to 0.9316. In breaking the 2017 high, the price is now trading at the highest level since October 2009. ForexLive
Forex futures positioning data among noncommercial traders for the week ending August 6, 2019 EUR short 44K vs 53K short last week. Shorts decreased by 9K GBP short 102K vs 90K short last week. Shorts increased by 11K JPY long 11K vs 4K short last week. Traders shifted the position to positive by increasing buys by 15K
Trades to the lowest level since January 17, 2017 The GBPUSD is not giving up on the downside as the week heads to the close. The price is trading to new session levels, lows for the week and continues to dig into the lowest level since January 17, 2017. The price on the weekly chart
Get used to it folks The US stocks are staging a rally on less China fears. There have been two reports that have help that sentiment: The Pres. comments on Huawei were not a blanket “no deal”. The US government is still accepting applications for companies to deal with Huawei if deemed not a security threat A report that China is purchasing crude oil from the
New lows as stocks continue slide The USDJPY is going out at the week’s lows for the London/European traders. Looking at the hourly chart, the pair cracked below the lows from Tuesday and Wednesday at 105.480 and 105.513 respectively. We currently trade at 105.35. Looking at the 5-minute chart, as per the earlier post, the
100 day MA and 200 bar MA on 4 hour eyed now The EURUSD is moving higher and in the process is trading at new session highs. Stocks are trading lower and if you recall from earlier in the week, lower stocks helped the EURUSD. The Nasdaq is down -1.46%. and S&P is down -1.13%).
Back above the $1500 level The price of gold has been consolidating above and below the $1500 level over the last couple days after peaking at $1510.46 on Wednesday. The highs on Thursday and today were lower. Yesterday, the price fell on the back of less anxiety and a roaring/soaring stock market. However, the move
Trump says the US/China September meeting may be cancelled The US stocks are moving lower pushed down by comments from Pres. Trump that the September meeting with China may be cancelled. The Nasdaq index has moved back below its 50 day MA at 7936.96 and tested its 100 day MA at 7936.96. The low just