Technical Analysis

CFTC commitments of traders: USD shorts increase led by CAD longs Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly forex futures positioning data from the CFTC for the week ending May 11, 2021. EUR long 94K vs 85K long last week. Longs increased by 9K GBP

Stocks close near session highs The major US stock indices are close higher for the second consecutive day.  Some other highlights for the day/week Week ends with 2 strong days higher after three down days to start the week S&P has best day since late March 26th All 11 sectors of the S&P close higher Dow S&P NASDAQ

Traders await US retail sales at the bottom of the hour As North American traders enter for the day the NZD is the strongest and the USD is the weakest ahead of April Retail sales (are expected to show a stimulus check induced rise of 1% for the headline number). Industrial production, Capacity Utilization, Businesss

NASDAQ still 7% below the all-time high The major indices snapped there three days losing streak.  However,  The Dow, S&P are on track for the worst week since late January. The NASDAQ is on track for its worst week since February 26  The NASDAQ is still 7% below its all-time high On a positive note

The USD is mixed ahead of the PPI and Initial claims data  The CHF is the strongest and the AUD is the weakest as NA traders enter for the day.  The USD is mixed ahead of the US PPI data and the weekly initial and continuing claims.  Fed’s Barkin is on the schedule to be

Dow fell -700 points at the lows The major indices are closing at the session lows with each closing 2%+ lower on the day. The major indices have closed lower for the third consecutive day.   The NASDAQ index is leading the way, and is has moved down about -8.5% from the highs so far (in 9 trading days).  Decliners to

USD is higher ahead of US CPI data  As the North American session begins and traders prepare for the US CPI data, the CAD is the strongest, the NZD is the weakest. The USD is mostly higher with gains vs all the major currencies with the exception of the CAD.  The largest gains are versus

Dow leads the move down today.  For the second consecutive day, all the major indices closed lower. Today’s moves were led by the Dow 30 stocks. That index is down at the lows -667 points. It is ending the session down -472.21 points. The NASDAQ index ended marginally lower after being down as much as -2.20%. The final numbers

Yield curve steepening  The US treasury will auction off $58 billion ofthree year notes, $41 billion of 10 year and $27 billion of space30 year issues this week. Yields were lower earlier in the day, but have backed up a bit and it could be in reaction to positioning ahead of the supply to come. 

NASDAQ down -2.27% the NASDAQ and S&P are trading to new session lows. The Dow industrial average remains positive but gives back most of the days gains: S&P index is down -26.57 points or -0.63% at 4205.61. That is just off the lows of 4204.17 NASDAQ index -311 points or -2.26% at 13440. The low

AUD/USD trades to fresh highs of 0.7880, its highest since 26 February Invest in yourself. See our forex education hub. The AUD/USD chart is one that holds some similarity to the GBP/USD chart at the moment. Much like how the latter looks to be targeting its February highs around 1.4200 next, AUD/USD looks to be

The low after the jobs report, stalled at the 61.8% retracement level The USDJPY initially moved sharply lower after the jobs report, and found support buyers near the 61.8% retracement of the move up from the April 23 low. That level comes in at 108.32. The subsequent rally back to the upside ended up finding sellers near the lows from Monday

Swing highs from March at 0.78375 to 0.7848 are targeted now The AUDUSD is at a new high going back to March. The swing highs in March came in at 0.78375 and 0.78487 on March 3 and March 18 respectively.  The high price just reached 0.78446.  A move above the March high at 0.78487 should solicit more buying.  Drilling to the hourly

New highs as London/European traders look to exit The EURUSD is trading to a new session highs and in the process has broken above the April high of 1.2149 and trades the highest level since February 26. The next targets comes at 1.2169 and 1.2189.  Looking at the daily chart, the pair has also moved into a swing area

CFTC commitments of traders: The loonie increased by 10K Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly forex futures positioning data from the CFTC for the week ending May 4, 2021 EUR long 85K vs 81K long last week. Longs increased by 4K GBP long 20K vs

Selling continues in the USDCAD The USDCAD selling continues.   Looking at the daily chart, the pairs is now moving further away from the broken trend line at 1.2190.  The price has traded to a new low going back to September 2017 to a low at 1.21753.  I would peg risk under 1.2200 now.  More conservative

NASDAQ snaps four days losing streak. The US stocks rallied into the close with the Dow ending the session at a new record and at the highs of the day. The index is closing up 315.76 points for the fourth higher close in as many days. The NASDAQ index is also closing higher for the first time in five trading days.  A

Gold is up 0.5% to $1,795 today Invest in yourself. See our forex education hub. Despite the lack of investor appetite, gold has been holding largely steady in recent weeks and buyers are once again trying to take a stab at $1,800 today. The previous attempts recently to try and get above the figure level