Technical Analysis

USD moves higher vs those pairs The USD has moved to new session highs vs the EUR, JPY and CHF. EURUSD: The EURUSD finally showed some additional downside momentum and has increased the day’s trading range in the process, the range is up to a more respectable 53 pips (was only 26 pips at the

Oil still riding high USD/CAD is nearing 1.2400 after a 54-pip gain today that’s part of a broader selloff in the commodity currencies. There’s nothing in the broader market that would suggest two days of decent declines in the loonie. Equities were strong yesterday and today. Treasury yields have generally been lower, and are flat

Moves toward the June extremes The AUDUSD opened today between the 100 hour MA above (at 0.7575 currently), the 200 day MA below  (at 0.7558). In between was the 200 hour moving average (currently at 0.75527). In the Asian session, the price traded above and below the lower 200 bar moving averages before finding sellers

Dow lags as Boeing, Chevron, AMEX slumps The S&P and NASDAQ index closed at record high levels and near highs for the day. Facebook shares gave the NASDAQ index a boost in the last few hours of trading as the district court dismissed the FTC antitrust case against Facebook (up 4.18%). Intel (up 2.81%) PayPal (up

Both pairs have similar technical patterns Both the EURUSD and the GBPUSD have been sideways over the last few did trading days and in the process the 100 and 200 hour moving averages have converged.  This is indicative of a non-trending market. Ultimately, there will be a break and a run, but for now, the price action is still

France’s CAC down modestly The major European indices are ending the week mostly higher on the day. The provisional closes are showing: German DAX, +0.1% France’s CAC, -0.1% UK’s FTSE 100, +0.4% Spain’s Ibex, +0.25% Italy’s FTSE MIB, +0.35% For the week, the major indices are also higher: German DAX, +1.0% France’s CAC, +0.85% UK’s

Runs away from its 100 hour moving average now The price of bitcoin tried to move above its 200 hour moving average earlier in the day. Yesterday, there was another attempt above that moving average but both tries failed. Since failing today, the price has been stepping down in a steady fashion. More recently, the price fell back below its

The low today was lower than yesterday’s but above the low on Wednesday The USDCAD reached its high this week on Monday at 1.24863. That high was also the highest level since April 26, and took out the high from last week at 1.24801. However, that new high was only 6 pips above the April

AUD/USD analysis The Australian dollar perked up earlier today, hitting 0.7617 but it’s given it all back on USD strength due to rising yields. It’s now trading flat on the day at 0.7585. For me, this is the most-interesting chart at the moment because it captures the uncertainty in the US dollar, risk appetite and

Nasdaq 3 day string of record closes snapped The US major stock indices are closing mixed with the Dow leading the way. The S&P closed higher for the 2nd consecutive day. The Nasdaq snapped it’s three day of record closes with a modest loss.  S&P index rose 14.33 points or 0.34% at 4280.81 NASDAQ index

Narrow range extended but initial break can’t do much The EURUSD just moved above the 200 hour MA for the first time since June 11, but the first break is not finding the hoped for run higher.  The MA comes in at 1.1960. The high just reached 1.1965, but has moved back below the level. 

Only a 29 pip trading range The USDCHF has not had a lot of price action today. Apart from the AUDUSD which only has a 26 pip trading range for the day, the range for the USDCHF is next lowest at 29 pips. Looking at the hourly chart, the high price today was able to extend above the 100

GBPUSD falls after BOE falls short of market expectations The NZD is the strongest and the GBP is the weakest as the North American session begins. The NZD keeps it’s run higher going (it was the strongest of the major yesterday as well). The GBP took a turn to the downside after the BOE decision

UK’s FTSE 100 flat The major indices are ending the session mostly lower. The provisional closes are showing: German DAX -0.9% France’s CAC, -0.8% UK’s FTSE 100, unchanged Spain’s Ibex, -0.8% Italy’s FTSE MIB, -0.7% In the European debt market, the benchmark 10 year yields are mostly lower with the exception being the UK 10

The USD is drifting lower with declines vs all majors with the exception of the JPY As North American traders enter for the day, the NZD is the strongest (it was also the strongest yesterday and continues that trend today), and the JPY is the weakest (it was the weakest yesterday as well but is

Major indices higher. S&P falls short of it record high The NASDAQ index is closing at a record high level. The new intraday all time high price reached 14269.77. The S&P index got to within two points of its all-time record high at 4257.11. The high price reached 4255.84. A look at the closing levels shows: S&P index

100 hour MA at 4222.08 The S&P index is trading to a new session high at 4222 and in the process is getting closer to its 100 hour moving average at 4222.08. A move back above that 100 hour moving average and 50 hour MA at 4226.30 would be a more bullish tilt technically for the broad index The NASDAQ index has also

Dow up nearly 600 points as Fed concerns ease a bit. All the major indices are closing higher on the day led by the Dow industrial average which rallied near 600 points. Stocks were supported by less hawkish than expected comments from Feds Bullard and Kaplan. S&P rises for the first time five trading days S&P