Technical Analysis

A typical risk-off look in the market But just be mindful that thinner liquidity conditions may be exacerbating some of the moves, not to mention with the weekend approaching so that isn’t helping in the sense that investors may prefer to stay out until there is more clarity on the situation. The bond market is

10-year yields down 10 bps to below 1.55% on the day Invest in yourself. See our forex education hub. Fears surrounding the new COVID-19 variant is dominating markets at the moment and bonds are very much bid amid a flight to safety. The drop in 10-year yields today reverses all the hard work by bond

NZD/USD down 0.7% to 0.6810, nears the August lows of 0.6805-09 Invest in yourself. See our forex education hub. It is a big moment for NZD/USD buyers to step up and be counted here as we approach the August lows of 0.6805-09, which is a key support region for the pair. A break below that

AUD/USD down 1% to 0.7115 as the pressure mounts on risk trades The sentiment in the pair is very much similar to that of NZD/USD as outlined here earlier as sellers are eyeing a test of the August lows of 0.7106 now.Invest in yourself. See our forex education hub. A break below that leaves very

Oil down by nearly 6% and briefly clips below $74 Invest in yourself. See our forex education hub. US president Biden may get his wish of lower oil prices but it isn’t exactly how one might expect it to come about in trading this week. The SPR release news was underwhelming but oil is now

Dollar bulls still in charge of proceedings this week EUR/USD is down a touch and lingering at its lowest levels since July last year, seen around 1.1220-30 levels at the moment with little reprieve so far this week. Sellers are still aiming for a push towards 1.1200 and dollar sentiment as a whole is helping

The dollar continues to keep in a good spot technically The greenback is trading more mixed and a touch lower on the day but it isn’t anything that is too significant as compared to the changes in the past week, or even yesterday. EUR/USD dipped below 1.1200 for the first time since June 2020 in

10-year Treasury yields on the verge of a breakout? Treasury sellers will certainly have a lot to think about this Thanksgiving holiday as yields are on the cusp of a potential technical breakout to the topside. The trendline resistance for 10-year yields at around 1.68% is keeping a lid on action so far on the

Oil is up another 0.7% to $79.10 Invest in yourself. See our forex education hub. The bounce this week comes as price came close to testing the 100-day moving average (purple line) but sellers fell short of contesting the key level. And after the SPR release new yesterday, which was rather underwhelming to say the

S&P and Dow industrial average move higher The NASDAQ index fell for the second consecutive day. Yesterday the index fell -1.27%. Today’s declined took the price down -0.50%. That still is well off the lows which saw the index down as much as -1.6%.   The S&P and Dow industrial average both rose and are closing higher on the

The kiwi is hit the hardest in trading so far today The drop is an extension of a run to the downside from yesterday, with the dollar running rampant across the board. For now, that mood is staying the course in NZD/USD as the pair falls to its lowest in six weeks. The low today

NASDAQ index falls -1.26%. Dow snapped a three day losing streak but closes near it’s lows The major US indices are closing near lows for the day as higher rates hurt investor sentiment.  The NASDAQ index – which closed at a record level on Friday and also made new all-time intraday highs today  – turned

EUR/USD down 0.2% to 1.1265 on the day It is tough to pick at support levels for the pair over the past two weeks but the 61.8 retracement level of the swing higher from March last year to January this year @ 1.1290 and the 1.1300 did offer some light reprieve last week before it

The USDJPY is near unchanged levels for the week at 113.85 The USDJPY today has fallen back below the 100/200 hour MA at 114.309 and 113.989 respectively, as lower yields and lower crude oil prices sent the dollar lower. The move to the downside took the price down to test the 61.8% retracement of the move up

The 100 hour and 100 day MAs stalled the rally at 0.7023 The NZDUSD snapped higher in the US session and in the process, tested the 100 hour and 100 day MAs at 0.7023 area (see blue lines in the chart below).  The a pair fell below those lines in the London session after high prices from yesterday and again

Changes for the week are mixed The major European indices are closing the day lower led by declines in the Spain’s Ibex and Italy’s FTSE MIB. The move to the downside were triggered by fears of the Covid resurgence. Austria announced that they would lockdown starting Monday and require vaccinations. Other levels of resurgence in Covid cases are

Dow and S&P close lower The US major stock indices are closing with mixed results.  Some highlights for the major indices: The NASDAQ index closed at a record level. The index rose 63.74 points or 0.4% to 16,057.45. The index reached an intraday new all time high at 16,121.12. The low extended to 16017.23.  The NASDAQ index closed above 16,000 for the first time

Trades to the highest level since October 1 The USDCAD moved to a new week high today but has backed off. The high price reached the highest level since October 1 in the process at 1.26613.  For the week, the USDCAD traded higher and made new highs each day since Tuesday’s low (although Thursday, the