Technical Analysis

Buyers are scoring back on run back above swing levels/highs The USDJPY ran higher yesterday on the back of higher rates and US dollar buying. The pair moved above the old high going back to October 20 at 114.691. The price also moved above the November 2017 swing high at 114.728. It wasn’t until last

Markets are misbehaving… The markets are misbehaving. The market broke after Texas reported a surge in hospitalizations, but the pattern being developed that it will take more than a region to bother the markets. Moreover, the hope regarding coronavirus now in the US is just plow through it. If you are vulnerable, take care of

Tentative moves in the markets today The GBP is the strongest and the EUR is the weakest as NA traders enter. The Eurogroup members failed to agree on financing for the unions fiscal response. The failure to agree is putting some pressure on the EUR today. The GBP is the strongest, but the gains are

EUR/USD falls back below the 25 February high to a low of 1.2233 The euro is struggling to build on upside momentum today and part of that reason may owe to a bit of mixed commentary by the ECB as of late. Panetta’s comments here isn’t getting much attention but it is worth taking note

Low after jobs stalled near low for day and quickly reversed higher The USDJPY – like other pairs - initially saw dollars selling after the jobs report. The low price reached 112.98 which was just above the low from the Asian session at 112.954. The price rotated back higher and in the process extended back above the 100 hour

NASDAQ index approaches its 100 day moving average at the lows the US stocks have continued to move lower with the NASDAQ index leading the way to the downside. That index is currently down -1.26% at 15189. The low price did reach 15120.81. Looking at the daily chart, the index is back below its 50

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Swing lows come in at 0.6991 to 0.7005 The AUD is the weakest currencies on the day, and the pair is pushing to a new 2021 low and moves toward the swing lows from October in September 2020.  Those levels come in between 0.6991 and 0.7005. The low price just reached 0.7013. A move below that floor area would increase the bearish

WTI crude up nearly 3% on the day to $68.50 at the moment It seems like the old “buy the rumour, sell the fact” play (opposite side this time) is working out for oil as price continues to climb in the aftermath of the OPEC+ decision. Even though OPEC+ chose to keep restoring supply in January,

100 hour MA at 1.1311 With the US employment report out tomorrow morning, the EURUSD rotated back below the 100 hour MA at 1.1311. The price moved below that level around the time London traders were heading home, and stayed below.  That’s the bearish news. The not so bearish news is that the price remains:

WTI up a little over 2% around $67 Invest in yourself. See our forex education hub. It is tough to get too optimistic about oil prospects at the moment as omicron fears are still weighing quite heavily on the fundamental backdrop. But since the peak in October, oil is down by over 21% with the

Major indices close at session lows erasing solid gains in the process The major US stock indices snatched defeat from the jaws of victory.   The stock market was digesting the second of testimony from Treasury Secretary Yellen and Fed chair Powell. However, a headline that the US had their first confirmed case of the omicorn

USD/JPY up close over 40 pips on the day to 113.55 currently The rebound today comes after buyers staved off a daily close below the 9 November low @ 112.73 as the greenback recovered some poise late on yesterday amid Fed chair Powell’s hawkish surprise. We are seeing buyers build on that in a push

Fed Chair shifts his bias The Fed Chair shifted his bias toward the hawkish side getting rid of the “inflation is transitory” statement and plugging for a faster taper as well.  The major indices all fell sharply with the small-cap Russell 2000 and S&P index leading the way (although the Dow and NASDAQ were also hit hard). The final numbers are showing: Dow

What is driving the move higher in EUR/USD? A simplistic approach to viewing major currencies is that when markets are risk-off, the main beneficiaries are typically the yen, franc and dollar. However, in the last few sessions, the euro is also a standout performer with the single currency even outpacing the dollar quite markedly in

NASDAQ index leads the way The major indices clawed back some of the losses from Friday’s trade with the NASDAQ index taking back the most. The Dow industrial average lagged. The final numbers are showing: Dow industrial average +236.47 points or 0.68% at 35135.99 S&P index +60.61 points or 1.32% at 4655.25 NASDAQ index up 291.19 points

Oil up 5% on the day after the 13% plunge on Friday Oil prices are back up in trading today as the risk trades are bouncing back after having been beaten up quite badly at the end of last week. Of note, WTI suffered its worst performance of the year in a massive drop below

The ‘Nu’ COVID-19 variant is rocking markets amid lighter trading conditions Risk trades are hit the hardest and we are seeing a typical flight to safety across markets with bond yields plunging alongside equities, while the yen and franc are benefiting the most in terms of flows among major currencies. Adam put into detail the