Technical Analysis

A rundown of some of the sore spots The charts aren’t always right but they should never be ignored, especially when so many dominoes are falling together — and just six weeks after the bottom began falling out of Treasury yields. There are still many risk-positive charts out there and many more that are hanging

The USD is mixed As the North American session begins, the GBP is the strongest and the NZD is the weakest after the RBNZ kept the OCR unchanged after their policy meeting.  RBNZ Governor Orr was supremely confident and characterized the pause in rates as something akin to a blip. His comments on housing –

No new records today The major US stock indices all closed lower, snapping the record close string at five. Dow has its worst performance since August 4 S&P has its largest decline in nearly a month NASDAQ posts a two day declinne S&P and Dow snap a five day win streak/5 days of record closes

GBP/USD down 0.4% to below 1.3800 on the day The dollar may be keeping more resilient amid more dour risk tones in the market but it is tough to really pinpoint any reason for the pound’s underperformance today, in which the currency is even lagging the loonie in European morning trade. The only thing I

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USD/JPY down 0.2% to 109.30 levels currently Invest in yourself. See our forex education hub. The sharp move lower on Friday came as Treasury yields and the dollar sank and with yields keeping lower once again today, the downside momentum in the pair is staying the course as European traders enter the fray. USD/JPY is

Ups and downs The AUDUSD had a final squeeze higher today in what was an up, down and back up again trading week.  The pair closed last Friday at 0.7353, chopped up and down on Monday, closing lower on the day.  On Tuesday, the initial move was lower but support buyers came against the July 28 low

Oil is down 2% to near $67 in European morning trade While WTI crude seemingly held at the July low in trading last week, the latest bounce never really got going as it is slowly fizzling with the market leaning more towards being risk averse to start the new week. Delta variant concerns are posing

Down -$0.65 or -0.94% The price of WTI crude oil futures settle at $68.44. That’s down $0.65 or -0.94%. The high price reached $69.22. The low price extended to $68.15. The low today was just above the closing level from last week near $67.95.  For the week the price moved lower on Monday falling to a low

NASDAQ closes lower for the week The S&P and Dow held on for a record closes but just barely.  The S&P closed at record day for the fourth consecutive day.  The NASDAQ moved higher in the last minute of trading and it’s second gain in a row.  The Russell 2000 fell close to 1%. S&P posted its 48th record close

First look at the support target finding buyers The USDCHF has moved steadily lower (trending) over the last 10/11 hours of trading. The move took the price from the near the high for the week near 0.92414 (the high was at 0.9238 today), to a low of 0.91508 (about 88 pips). The average trading range over the last month

Takes out the low from yesterday’s trading The GBPUSD has been steadily moving lower over the the course of the NY session and has just moved below the low target from yesterday’s trading below 1.38022 and also below the natural support at 1.38000. The low 1.37935 so far. Looking at the hourly chart, the pair is testing/dipping

France’s CAC moves closer to its all-time high at 6944.77 from September 2000 The European shares are closing mostly higher with the one exception of the UK FTSE 100.  The German DAX, Euro Stoxx and France’s CAC reached closed at new highs for the year with the German DAX and Stoxx index at record highs. The France’s CAC is getting closer to

Nasdaq lower for the 2nd consecutive day The Dow and S&P closed at record levels for the second consecutive day. The NASDAQ closed lower for its second day of declines.  The Dow closed at a record for the 32 time this year The S&P closed at a record level for the 46th time this year The Dow closed near its

France’s CAC continues to move toward its all-time high price from 2000 The major European indices are closing higher. The German Dax closed at a new all-time high. The France’s CAC also closed at a 2021 new high and works closer to its 2000 all time high. The provisional closes are showing: German DAX, +0.3% France’s CAC, +0.5%

USD/JPY is up a little on the day to 110.67, its highest since 14 July The pair is continuing to track higher since last week, building on the rising momentum in Treasury yields – which was supported by the US jobs report on Friday. 10-year Treasury yields are now closing in on 1.36%, maintaining a

Corrects back above swing area between 0.7327 and 0.7336 too The AUDUSD moved lower in the early Asian session today and in the process tested the swing low from July 28 near 0.73163.  Buyers leaned against that low, and pushed price back higher.  A little higher between 0.73276 and 0.73364, was another swing area (see

WTI crude up 0.8% to near $67 on the day Oil suffered a beating yesterday in a fall to test its July lows but the support region there held and we may see a short-term double-bottom pattern form in the commodity. The 100-day moving average (green line) is still seen @ $67.13, so keep below