Technical Analysis

The CHF is the weakest As London/European traders head for the exits, the USD is the strongest of the majors, while the CHF is the weakest.  At the start of the North American trading day, the CAD was the strongest while the CHF (see post here). The USD was mostly lower at the start of the

Gold still down over 1% on the day currently Invest in yourself. See our forex education hub. Gold was smashed lower in Asia Pacific trading, in a relatively quick drop from $1,750 to $1,677 as sellers continued the post-NFP momentum to this week. There are a couple of reasons perhaps for the sudden move and

ADP payroll and ISM trump the US job gains. The NY Fed Nowcast estimate for 3Q grown slowed to 3.7% from 4.2% last week.   How can that be given the strong US jobs report? Indeed the nonfarm payroll added 0.18% to the weekly change in the NY Fed’s model. However, those gains were trumped this week, by the ADP jobs

Trades between 100/200 hour MAs The NZDUSD has followed the trend higher in the US dollar today (NZDUSD lower) after the stronger than expected US jobs report.  The pair moved lower, and in the process cracked below its 100 hour moving average (currently at 0.70328), and continued through an old swing ceiling at 0.7018  to 0.70203 on it’s

Swing area between 1.1751 and 1.17566 The EURUSD is keeping above the July 2021 swing lows between 1.17510 and 1.17566. The low price has so far reached 1.17537 between those swing low levels on the hourly chart.  Dip buyers are sticking a low-risk toe in the water, hoping for another bounce.  A break below will likely lead to

Yesterday the S&P and NASDAQ close record highs The stronger-than-expected US jobs report Helped send the Dow 30 stocks higher in trading today. The S&P index was mixed but also close marginally higher. The NASDAQ index fell on the back of the potential for higher rates slowing down some of the high flyers. Whereas yesterday,

German DAX pressures that the all-time high but backs off The German Dax move to a intraday high today of 15808.24. That was just short of the July 44 high of 15810.68. The inability to make a new high led to some rotation back to the downside.  Nevertheless, the German DAX index is closing marginally higher

High close level came in at 4423.16 The S&P index is higher by about 17 points out 4419.60. The high price for the day reached 4423.05. That level came in just short of the all-time high close from Tuesday at 4423.16. The intraday all-time high price comes in at 4429.97. With a little more than an hour left and trading, will

US stocks are higher led by the NASDAQ The major European indices are ending the session mostly higher. The in UK FTSE 100 is the exception.  A look at provisional closes are showing: German DAX, +0.4% France’s CAC, +0.6% UK’s FTSE 100, -0.1% Spain’s Ibex, +0.5% Italy’s FTSE MIB, +0.6% In other markets as London/European traders look to exit shows:

Dow moves down over -300 points. S&P down after record close yesterday The major indices are closing mixed. NASDAQ closes with a three day win streak S&P closes lower after yesterday’s record close Dow, S&P close near session lows Dow was down -325 points at the low. Close just off that low level Dow has its

The pair finally broke outside the 97 pip range that kept the pair contained for 10 days but failed The AUDUSD has returned back to its 100 and 200 hour moving averages between 0.7372 and 0.7378.  The move back to the downside came after the pair finally broke out of the 97 pip trading range that contained

Record close for the S&P 500 The major US stock indices are closing higher and near session highs: S&P closed at a record level NASDAQ posts a two day win streak Energy (+1.83%), industrials (+1.38%), healthcare (+1.42%), financials (+1.13%) led the charge communication services fell -0.19% Dow and S&P snap a two day losing streak The final numbers are showing:

Modest gains and losses for most of the major indices The European indices are closing the session with mixed results and modest changes for most of the major indices: German DAX, -0.1% France’s CAC, +0.7% UK’s FTSE 100, +0.35% Spain’s Ibex, +0.1% Italy’s FTSE MIB, unchanged In other markets as London/European traders look to exit:

Dow Jones, S&P give up gains and close in the red. NASDAQ closed mostly higher The US stock market lost steam into the close with Dow industrial average and the S&P 500 closing in the red and giving up earlier gains. The NASDAQ index squeaked out a small gain on the day.  The final numbers

Varying gains for the major indices The major European indices are closing higher to start the trading month. A look at the provisional closes shows German DAX, +0.3% France’s CAC, +1.0% UK’s FTSE 100, +0.7% Spain’s Ibex, +0.9% Italy’s FTSE MIB, unchanged In other markets as London/European traders look to exit: Spot gold is trading up

100 day MA at 0.90733 The USDJPY has move back up toward its high for the day and in the process is testing its 100 day moving average at 0.90733.  The fall below the 200 day moving average yesterday was the first fall below the level since June 16 when the price closed back above the moving average

Disappoint showing up in the price action today. The price of AUDUSD has fallen back below its 100/200 hour MAs at 0.73726 and 0.7362 respectively. IN the process, the bias has shifted more to the downside for the pair.  The move lower today is showing the disappointment in the price action this week.  After trading

Trades between 100 hour MA below and 100 day MA above The GBPUSD fell to the low for the day as London traders exited for the day/week (and month for that matter). The low reached 1.3889. The 100 hour MA (at the time) was at 1.3891.  The price has since bounced and trades at 1.3909.