Technical Analysis

AUD/USD turns around the earlier drop to climb to 0.7460 The low today hit 0.7411 in Asian trading, which marked the lowest level for the pair since December, but things are quickly changing now in European trading as risk sentiment is also lookin more positive for the time being. European equities are rallying while US

A look at the CAD/JPY weekly chart Yesterday it looked like CAD/JPY could be headed for an ugly weekly pattern on the chart, falling straight through the June lows in the worst week in just over a year. Today though, the pair has climbed 80 pips to back within the recent range to limit the

USD/CAD pushes for more gains after yesterday’s turnaround Invest in yourself. See our forex education hub. The turnaround and further retracement in oil prices yesterday helped to flip the loonie on its head, as USD/CAD went from being lower in European trading to pushing back towards 1.2500 in North American trading. The pair closed below

10-year Treasury yields sink below 1.30% Invest in yourself. See our forex education hub. The bond market continues to flash a warning sign to the rest of the market as we now see 10-year yields sink below 1.30% to its lowest since February. The retreat since the FOMC meeting in June has been rather swift

USD/JPY tests key trendline support as the yen leads gains today Invest in yourself. See our forex education hub. The latest downdraft in Treasury yields is finally stirring up some nerves in the market, as European indices are marked lower at the open with US futures also falling in tandem. This in turn is helping

Silver flat today as it sits Silver and gold aren’t getting the headlines now but I believe there’s more money to be made by watching quiet markets than trading volatile ones. At the moment, silver fits the bill. When you zoom out, there’s a big triple top ahead of $30/oz but there are also a

Oil up 1% to $74.20 on the day The drop yesterday came after price tested the 2018 highs, which warranted some profit-taking perhaps. But we are seeing dip buyers quickly step in as oil is now back up 1% to $74.20 and pushing back above its 200-hour moving average @ $74.12. In the bigger picture,

US 10-year yields could hit the lowest levels since February Is there a new-quarter repositioning ongoing? US 10-year yields are nosediving today, falling 6.7 bps to 1.365%, which is just above the short-lived spike lower following the Fed. An optimist might think this is money flowing into fixed income at the start of the quarter

WTI closes in on its 2018 highs going into European trading Oil is up a little over 2% on the day as price now climbs to $76.70 levels and nears the 2018 high @ $76.88 after OPEC+ talks get abandoned yesterday as the standoff between Saudi Arabia and the UAE continues. From a technical perspective,

Dipping back below the 100 hour MA The EURUSD has been trading above and below the 100 hour MA in trading today.  The price of the pair started the day below the 100 hour MA after rising toward that MA on Friday and finding sellers ahead of the MA level (see red number circle 9).

The CAD is the strongest The USD is now the weakest of the major currencies.  The CAD remains the strongest.  The greenback is trading to new session lows verse the GBP, CHF, CAD, AUD and NZD. The pair is just off it’s session low vs the JPY. The EUR and USD are battling it out for the weakest of

New highs for the EURUSD The EUR lagged other currencies in making new lows vs the USD, but the EURUSD has just moved to a new high (new dollar low). The pair traded to a new high of  1.18602, taking out the earlier high at 1.18588.    The next targets comes against the  38.2% retracement of the move

Down seven cents or -0.09% The price of WTI crude oil futures are settling at $75.16. That’s down seven cents or -0.09%. The high price reached $75.62. The low price extended to $74.41 Looking at the hourly chart below, the price has been fluctuating up and down trading today as the OPEC+ meetings continue without a

NASDAQ closes at a record and so does the Dow… The S&P index is up for the seventh straight day and closes at a record level once again.  It is the 7th record high close for the S&P.   The NASDAQ index also closed at a record today that is the second consecutive record close for

Buyers trying to keep control In an earlier post, I spoke of intraday support near the 100/200 bar MA on the 5 minute chart and the 50% retracement level of the day’s trading range: On the downside, the 50% midpoint of the day’s trading range comes in at 1.37602 (see five minute chart below). That

Nasdaq lags and closes marginally higher The major US indices are closing the day higher with the S&P index leading the way. The S&P index is up for the six consecutive day and closes at a record level. New highs 214 versus new lows of 11 Dow closes near session highs Dow up for the third

The 100 hour moving average could not be broken on the move lower The USDCAD is lower on the day, and in the process broke back below its 100 day moving average of 1.23884. The price has been trading above and below that moving average over the last two trading days.   The move lower extended toward its rising 100 hour

S&P closes at a record high The US stocks are ending the session mixed with the Nasdaq down, and the Dow and S&P higher.  The S&P closed at a record high. Today is month end, quarter end and the end of the 1st half of the year.  The numbers for each are showing:  S&P is