Technical Analysis

The 1.2422 area was swing lows from July 7, July 14 and July 30. Have not been there since. Back on July 6th, the USDCAD broke higher only to retrace to 1.24215 on July 7th.That level was later retested on July 14 and again on July 30th and each time the price bounced.  That was

10-year yields little changed around 1.577% currently Invest in yourself. See our forex education hub. The dip in long-end yields yesterday was a bit of a headscratcher and I want to say that it was more about the flows rather than anything else. Equities were softer but we’re not quite teetering on any major risk-off

What levels are in play in the new trading day EURUSD: The EURUSD moved away from its 200 week moving average and is looking to close comfortably below that level today. The 200 week moving average currently comes in at 1.15689.  The price is trading at 1.15296. Also of importance is that the high for the day came in

The failure above the 50% turned buyers to sellers.  Late on Friday, I outlined the key levels for the GBPUSD to eye going into the new week.  I wrote: “The GBPUSD traded to the highest level since September 28 today at 1.3655. That move got close to the 50% midpoint of the move down from the

100 day MA at 1.2484 The USDCAD is trading back near highs for the day reached in the early Asian trading. Recall from Friday, the USDCAD moved sharply to the downside after the stronger than expected Canada jobs report  and the weaker/mixed  US jobs report. The fall took the price below both its 200 day

Yields not influenced by jobs data The US yields have not been influenced in a negative way by the lower nonfarm payroll data.  Nuances in the number and higher wages may be the counterbalance, along with expectations for a rebound next month.  The 10 year yield is up 3.6 basis points at 1.607%.  The five year yield is comfortably above

10 year up to 1.614%. The nUS 10 year yields continue to move higher with the 10 year now up to 1.614%. That’s up 4.3 basis points on the day.  The move higher is starting to hurt the NASDAQ index which is currently down -53 points or -0.37% at 14600.26. The USDJPY is also being impacted as

What to know from a technical perspective. EURUSD: The EURUSD is looking to close the week right around the 200 week moving average at 1.1570  after trading above and below that MA, and the 100 week MA at 1.1603. The current price is at 1.1570.   In the new week, those MAs will continue to be

NASDAQ index falls -0.5%. S&P and Dow marginally lower on the day The major US indices are closing the day lower. The declines snapped a three day win streak for the indices. Dow has best week since June Major indices all closed higher for the week S&P post the best week since August Energy and

CAD/JPY trades to its highest levels since early July The pair has been an interesting one to take note of from a technical perspective since August trading and after holding at the lows in late September close to 85.00, buyers have produced quite a stunning bounce higher in recent weeks. The latest shove in the

Up for the third straight day The US major indices are closing higher on the day with the NASDAQ index and the Dow industrial average leading the way with gains near 1%. That’s good news. The not so good news is that the gains were much higher. The Dow industrial average was up 1.62% at

A setback for oil at least in the short-term WTI crude is now down over 2% to $75.50 levels while Brent is also marked down to just below $80 on the day, as the retreat from yesterday continues. The retreat in energy prices is playing some part in all of this as the hype cools

Dow industrial average now up too The broader S&P and NASDAQ index have turned positive on the day. The Dow has just moved positive as well.  In Republicans have offered the Democrats a path to pass a debt limit extension into December (and not filibuster).  A snapshot of the markets currently shows The NASDAQ leads the way with a gain of 46 points

EUR/USD falls to a low of 1.1555 on the day, its lowest since July 2020 Higher yields and a focus on risk aversion is a potent combo (the latter is holding a bit more weight now) in keeping the dollar more bid in European morning trade so far, with the greenback extending gains across the

NASDAQ recoups 1.25% The NASDAQ index yesterday took on the chin with a decline of -2.14%. Today the index recouped 1.25% of that decline but it could’ve been better. The index was up as much as 1.78% intraday. It is closing up 1.25% on the day. Some highlights: Dow industrial average recouped all of the

WTI trades up 0.2% to $77.80 on the day Invest in yourself. See our forex education hub. The $78 level poses some light psychological resistance for oil but essentially, it is all about the ability for buyers to keep the upside momentum running after the break to its highest levels since 2014 in trading yesterday.

Nasdaq lower for the 6th time in 7 days.   The major US indices are ending sharply lower with the brunt of the damage done in the Nasdaq index.   The NASDAQ closes at its lowest level since June 22 The NASDAQ is down 7.5% from its all-time high The S&P index is closing  5.40% from its all time

Dollar and yen the laggards on the session so far It’s tough to pick at catalysts for a move in the dollar so far today as equities are seen on the weaker side and Treasury yields are pushing higher, yet the greenback is marked lower against most major currencies in European morning trade. The latter