It will take a move below the rising 100 hour MA to tilt the bias lower The GBPUSD is doing it’s own chop in trading today. What we know technically, is the run to the high for the day, found sellers near the “drop-ceiling” between 1.33795 and 1.33842. That was ahead of the high from
Month: November 2020
NASDAQ index marginally higher The major indices are opening with mixed results after the record closes in the S&P and Dow yesterday. The Dow also close above the milestone of 30,000 yesterday. It is currently trading back below that key natural resistance level. A snapshot of the market currently shows: S&P index -7.3 points or
Pair is down modestly The USDJPY is trading near session lows and in doing so, is moving back toward its 200 hour moving average at 104.216 (green line in the chart below). The rising 100 hour moving averages at 104.132. Both those levels will act as the barometer for buying and selling. Stay above is more bullish. Move
Ceiling at 1.30268 to 1.3038. Floor 1.29842 to 1.2894 The USDCAD is higher on the day but trading in an up and down choppy range. Looking at the hourly chart above, the highs for the day stalled near the low of a topside ceiling area between 1.30268 and 1.30382 (see green numbered circles and higher yellow area). On the downside,
Retest of the high from Tuesday. The NZDUSD is retesting the high from Tuesday’s trading at 0.7004. The pair has been pushing higher since bottoming near session highs from Mondays trade around the 0.6962 to 0.6967 area (the low today reached 0.6960). Staying above that swing level keeps the buyers more in control. Yesterday the pair moved sharply higher after the
Nasdaq index higher The US remain mixed after record closes in S&P and Dow yesterday. Both those indices are lower. The Nasdaq index is higher. The snapshot of the major indices currently shows: S&P index down 8.91 points or -0.25% at 3626.24 NASDAQ index up 32.27 points or 0.27% at 12068 Dow down -172.72 points or -0.57% at 29876.
WTI crude up 0.56% today WTI crude is up 23-cents to $45.15 today but the it’s come down from a high of $45.72 as the risk trade bleeds a bit lower here. Some of the selling came after a Reuters report saying OPEC and Russia are “leaning” towards delaying the planned taper of cuts. They
Weekly oil inventory data from the EIA Prior was +769K Gasoline +2180K vs +1150K exp Distillates -1441K vs -2250K Refinery utilization +1.3% vs +0.7% exp API numbers from late yesterday: Crude +3800K Gasoline +1300K Distillates -1800K Cushing -1400K This is a larger surprise than it appears because there was some oil selling on the API
Coments in Euronews I do believe that, with some creativity, we can facilitate the ratification of a deal Deal could be agreed ‘perhaps on a staged basis’ There’s been a substantial bid in cable in the past 30 minutes. This looks like fixing demand to me and we saw the same thing yeterday. The news
Biden transitional team reporting The Biden transitional team is reporting that the president elect will announce key members of his economic team next week. They also announced that they have been briefed on operation warp speed and Covid response, and are expected to receive 1st residential daily intelligence briefing on Monday. In other news from Washington,
The sporting legend is dead at 60 Argentina’s Clarin reports that football legend Diego Armando Maradona is dead at the age of 60. The report says he died this morning at a house in the in the Buenos Aires where he had been recuperating from an Oct 30 operation. He had brain surgery for a
CDC data today US coronavirus deaths rose by 1989 yesterday; that’s only about 10% below the April peak. There were 165,282 new cases and that’s a bit of good news because a week earlier cases were at 177,000. All else equal, US cases are likely plateauing but given that today is the biggest travel day
The U.S. national security apparatus is warning other agencies about China’s coming digital currency. On Wednesday, news outlet the Washington Examiner reported on a letter that National Intelligence Director John Ratcliffe had send Securities and Exchange Commission Chairman Jay Clayton earlier in the month. According to the report, Ratcliffe offered to have staff brief Clayton
Bitcoin Tuesday, scheduled for Dec. 1, aims to become one of the largest cryptocurrency fundraisers in history. The Giving Block, a crypto donations company, has secured partnerships with over 120 nonprofits and 30 blockchain companies to spearhead Bitcoin Tuesday — a one-day event that promotes charitable giving via cryptocurrency. Some of the biggest names in
Bitcoin (BTC) traders are pinpointing the order books of major exchanges that show the $19,500 level is a near-term resistance level. Bitcoin rejects $19,500 for now On Nov. 25, Bitcoin price was rejected at $19,500 with a relatively large volume across top spot exchanges. On Binance, for example, BTC price hit $19,484 before seeing a
Per an announcement and series of filings on Wednesday, the U.S. Department of Justice is calling shenanigans on Intuit’s ambitions, at least in part. Intuit owns a stable of user-facing finance software, including budgeting app Mint, digital DIY tax software TurboTax, and QuickBooks, for business accounting. The firm initially announced its acquisition of Credit Karma back
The Libra Association, which manages Facebook’s quiet cryptocurrency project, has appointed a general counsel to oversee the development of its forthcoming payment system. In an official press release, the Libra Association Wednesday introduced Saumya Bhavsar as the new general counsel of Libra Networks, the entity charged with operating the blockchain-based payment system. Bhavsar comes with
The crypto market has been in a strong bull run over the past few days and that has pushed Bitcoin (BTC) to its second-best day ever. Almost every trader now seems to be fixated on the magical figure of $20,000 per BTC. After such a sharp up-move, some traders are calling for a top while others are
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