Technical Analysis

100 day moving average of 1.2425.  A swing area at 1.2434 to 1.2442.   50% retracement 1.24432. The USDCAD is stretching a higher and trades at the highest level since April 26. In the process the pair’s prices moving closer to its falling 100 day moving average at 1.24253. The price has not traded above its 100 day moving average since

Big fall today and down for the week The major European indices are ending the week on a sour note with big declines on the day. For the week the indices are also lower. Looking at the provisional closes: German DAX -1.9% France’s CAC -1.5% UK’s FTSE 100 -2.0% Spain’s Ibex -1.9% Italy’s FTSE MIB -1.8% For the week, the indices are

Midpoint comes in just below 0.9200 The USDCHF has extended higher in trading today with the overall dollar bullish bias. The move has extended the price above the 50% midpoint of the range since the April 1 high. That level comes in just below the 0.9200 level at 0.91987. If the price can stay above that level, the

Lows at 0.69405 and 0.69446 broken today The NZDUSD has continued its move to the downside over the last three days and in the process has dipped below the March swing low at 0.69405 and the April 1 swing low at 0.69446. The low price today reached 0.69223. The price is currently training 0.6936. Last week, the price move below its

Up $0.60 or 0.84% The price of WTI crude oil futures are settling at $71.64. That is up $0.60 or 0.4%. The price last Friday closed at $70.79. So for the week, the price is up $0.85. The high for the week was on Wednesday at $72.96. The low for the week was yesterday at $69.76. Technically, in

Dow down for the fifth consecutive day The major US indices are selling off into the close with the S&P and Dow industrial average near the lows for the day. The Dow closed lower for the fifth consecutive day S&P closes lower for the fourth straight day Dow has its worst week  in 2021 Dow has

The downdraft continues for cable this week Invest in yourself. See our forex education hub. It is tough to fight the momentum in the dollar currently and from a technical perspective, it isn’t wise to as we are seeing the greenback push to fresh highs against major currencies after more than a month of consolidation.

Russell 2000 fell The major US indices are closing the day mixed. The Dow industrial average was the worst performer. The NASDAQ index was the best performer Technology +1.17% Healthcare +0.8% communication services +1.49% financials -2.93% energy -3.49% materials -2.2% Highlights: Dow closes down for the fourth straight day Longest losing streak since January for

GBP/USD slumped heavily yesterday as the dollar gained across the board Cable price action had already been on the ropes in the past few days leading to the FOMC decision but yesterday may be the straw that breaks the camel’s back. From a technical perspective, buyers did hang on for a while at 1.4100 but

Fed ups inflation expectations and said thinking about thinking about tapering The US stocks are closing lower on FOMC decision, but well off the lows. The Fed up there expectations for inflation in 2021, but still see inflation rates moving back toward just over 2% in 2022.  The US 10 yield is up about eight basis points to 1.579%.  That is still off

GBP/USD moves up to 1.4120 but runs into test of the 100-hour moving average to start European trading The pair was on the ropes yesterday as sellers tried to hold a break below the swing region support at 1.4073-86 but things ultimately reversed going into the close. That sets up yet another testing period for

Down 41% from the high, but up 189% over the last year. The price of lumber futures reached a high of $1738.40 back on May 10. That represented at gain of about $1392 from year ago levels.  That is huge to say the least.   Since, then, the price has moved down about -$720 from the

A mixed session so far for the greenback The dollar is trimming losses slightly against the euro and franc but is still keeping lower against both currencies, and is now grinding a slight advance against the rest of the major currencies bloc in European morning trade. Invest in yourself. See our forex education hub. GBP/USD

NASDAQ up for the third day in a row.  Dow closes well of low of  The major indices are closing mixed with the NASDAQ and S&P closing higher. The Nasdaq closed above the April 26th all time high close at 14138.79. The all time intraday high is at 14211.57.  The S&P also closed at a new

Little changes observed in the major currencies space Dollar pairs are holding within 0.1% change of one another and that pretty much tells you the story of what is transpiring in FX to start the week. Yet another taste of the summer lull will eventually give way to the Fed reaction this week but until

Well… 67 pip run so far The USDCHF has rocketed higher with the dollars move higher today.   The move to the upside got a nudge initially, when the lows for the day could not reach the low for the week (and bottomed in a lower swing area between 0.8930 and 0.89393. The low for the

10 year yields were lower.  Most stock indices were higher.  Crude oil is up for the 3rd week in a row. The CHF was the strongest of the major currencies for the week of June 7 to June 11. The NZD was the weakest.   The USD is ending mostly higher with 5-day gains vs all

Low from May tested at 0.71148 The NZDUSD has been trending lower over the last 9 hour of trading.  The move has taken the price from a high of 0.72098 to the lows of 0.71153 (or about 95 pips).   That low took out the June low at 0.71248, but is so far just testing the