USDJPY on the hourly chart The USDJPY moved higher in the Asian session helped by the Lavrov/Blinken meeting announcement. The USDJPY moved higher as did stocks but the pair stalled well ahead of its falling 100 hour MA currently at 115.378 (blue line) and just above the broken 38.2% at 113.236. The high reached
Technical Analysis
USDCAD is stuck in the mud The USDCAD remains stuck in the mud and the tires are going deeper and deeper. The low to high trading range is only 45 pips that is well below the 81 pip trading range over the last 22 trading days. The low today tested the low from yesterday
The dollar has moved higher on the large explosion news out of Dontsk. The explosion is reported to be a car bomb. It may be the false flag that kicks off a bigger offensive by Russian troops, but the market is taking comfort it wasn’t mortar. Nevertheless, the uncertainty increases The move higher in the
AUDUSD bounces off the 100/200 hour MAs again The Nasdaq is down 3.5% from the close on Wednesday. The S&P is down about -2.35% (they are bouncing from lows too). Those types of declines would typically lead to “risk off” flows out of pairs like AUDUSD. However, over that time period the price close on
The WTI crude oil futures are settling at $90.21. That is up $0.17 or or 0.18%. That is for the April contract. The high for the day reached $91.07. The low extended to $87.46 The March contract settled at $91.07 down $0.69 on the day. A week ago, the price closed the day at $93.10.
US stock losses have accelerate to the downside into to the day close. Some of the negative highlights for the day. The Nasdaq is down near 2.8% S&P tech sector down near 3% The major indices are down for the week Dow has it’s worst day in 2022 Nvidia falls -7.5% AMD -4.47% Paypal -4.8%
Breaks from wedge consolidation patterns are one of the toughest patterns out there because there are so many old highs in place that could transform the move into a broader range trade. That said, the spoils of getting a breakout right are incredible. We could be seeing that in gold today as it climbs $30
NZDUSD on the hourly chart The NZDUSD has stretched higher after the FOMC meeting minutes, and trades at the highest level of the day and the week. The pair is also moving closer to last Friday’s high at 0.66928. That level – up to 0.67012 – is a swing area to get to and
USDCAD rotates back to thee lower extreme today The price action in the USDCAD since January 26 has been stuck in the mud mostly between 1.26496 and 1.27958. Yesterday, and on Monday, the price highs stalled near swing highs between 1.27745 and 1.2786 (see blue numbered circles four and five). The price had traded
The major US stock indices snapped a three day losing streak. The gains were led by the NASDAQ and the Russell 2000. The Dow 30 lagged. The snapshot of the closing levels shows: Dow industrial average +422.67 points or 1.22% at 34988.85 S&P index up 69.4 points or 1.58% at 4471.06 NASDAQ index up 348.85
EURGBP finds sellers near the 100 hour MA/38.2% The EURGBP is up with the overall better tone in the EUR pairs today as a relief rally from the toning down of Russian/Ukraine invasion anxiety. The move to the upside has the pair up testing the falling 100 hour moving average and the 38.2% retracement of
The major indices are ending the day with modest losses. The Dow was the worst performer of the majors, while the Nasdaq was the best performer. The final numbers are showing: Dow -171.89 points or -0.49% at 34566 S&P -16.99 points or -0.38% at 4401.66 Nasdaq -0.23 points or 0.0% at 13790.93 Russell 2000 -9.35
USDJPY moves above the 100 hour MA The USDJPY has pushed to a new session high and in the process has extended above its 100 hour moving average and also a swing area between 115.61 to 115.671. The current price trades at 115.66. The high price reached 115.717. The price of the pair moved
EURGBP finding support near 50%, 100 bar moving average The EURGBP on the 4-hour chart is testing a dual technical support level defined by the rising 100 bar moving average (blue line) and the 50% midpoint of the move up from the pre-ECB low last Thursday. Those levels come in at 0.83769 and 0.83805
EURUSD traders ponder the next move The EURUSD rallied last week on the back of a tilt in the ECB toward the possibility of a tightening in 2022. That tilt was expressed last Thursday after the ECB rate decision (see spike higher on February 3). The run to the upside stalled on Friday near
All the balls are in motion as the Russia/Ukraine situation intensifies Yields are low with the 10 year down -6.1 basis points on the day at 1.968%. The high for the day reached 2.063% US yields are lower The price of crude oil moved up to a high of $94.66. That took the price
USDRUB runs higher on invasion talk The USDRUB has indeed moved higher (lower ruble) on the back of the Russian escalation and expectations that an invasion is imminent. Looking at the daily chart the price rise has seen the price move up from 74.94 at the close yesterday to the current price of 77.36. The
The US major indices are closing sharply lower with the Nasdaq leading the way. The final numbers are showing: Dow fell -503.53 points or -1.43% at 34738.07 S&P fell -85.42 points or -1.90% at 4418.65 Nasdaq fell -394.48 points or -2.78% at 13791.16 Russell 2000 fell -21.01 points or -1.02% at 2030.14 Some
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