Technical Analysis

If buyers are to take more control, they still need to get above 100 hour MA though The USDCAD fell below the floor from the hourly chart at 1.2266 today. However, momentum to the downside could not go very far. The low price reached to 1.22508. That was just above the low from 2918 at

EUR/USD loses further ground on the week, falling to 1.1986 Invest in yourself. See our forex education hub. This now puts some focus on the 38.2 retracement level of the April upswing @ 1.1980 as sellers are testing waters just below the 1.2000 level for now. The dollar is trading more mixed across the board,

The 50% slowed the decline today The Nasdaq index is still down -324 points or -2.34% on the day, but the low for the day did reach down to 13485.59, down -2.95% or -409.53 points.  That day low, dipped briefly below the 50% of the move up from the April 25th low at 13499.19. However,

EUR/USD falls to a low of 1.2000 on the day The dollar continues to keep a firmer footing in European trading as EUR/USD eases lower to 1.2000 for the first time since 22 April. This puts some focus on the support region around 1.1993-98 as well as the 1.2000 handle in general. A break below

The 100 hour MA is in play now The USDCAD has been waffling up and then down in trading today.  The “up” moved to test the high from Friday and Thursday but fell short of those levels. Also above is the 38.2% retracement of the move down from Wednesday’s corrective high (at 1.23234). The high on Friday stalled just

Back below the 100 hour MA The EURUSD has moved lower in trading today and is now down on the week. Last Friday, the price closed at 1.2095. The price is currently trading at 1.2089.  The low for the week was on Wednesday at 1.20555. The high for the week was on Thursday at 1.21494.  

Narrowest trading range since April 2019 The GBPUSD has reversed lower today after the run to the upside started on Wednesday fizzled out after breaking back below the Monday to Wednesday swing area between 1.3934 to 1.39386.  The break higher above the higher swing area failed, and the subsequent run away from the 100/200 hour

NASDAQ index is leading the way lower The use major indices are opening lower on the last day of the trading month. The NASDAQ index is leading the way to the downside.   A snapshot of the market six minutes into the open is currently showing: S&P index -20.84 points or -0.49% at 4190.63 NASDAQ index -77.87 points

Rebounds higher The USDCHF – for the first time since March 1 - traded below its 200 day moving average yesterday at 0.9086 but could only get to 0.90813 (a later session low reached 0.90796). The pair traded below its 200 day moving average on a number of different occasions since the first run lower including a number of times

Closed at 0.7744  The AUDUSD has cracked below an upward sloping trend line and away from the 100/200 hour MAs today. The pair has also just cracked back below the close from last week at 0.7744. The pair is trading at 0.7737 as I type, after reaching an intraday low at 0.77337.   The next downside

Mixed results for the week The European major indices are ending the week with mixed result today and also ending the week mixed. The provisional closes are showing: German DAX, flat France’s CAC, -0.5% UK’s FTSE 100, up 0.2% Spain’s Ibex, unchanged Italy’s FTSE MIB, -0.45% For the week,: German DAX -0.9% France’s CAC, +0.2%

EUR/USD holds a little lower to start the session, creeping towards 1.2100 Invest in yourself. See our forex education hub. The dollar is holding steadier across the board but major currencies are mostly little changed, though EUR/USD is trading closer to the lows for the day at 1.2104 now. Buyers managed to catch a break

May forex seasonal patterns report 2021 The year is flying by and hopefully that means we’re all a step closer to herd immunity and the end of this nightmare. The good news is that if you followed our April seasonal patterns, you did very well. I highlighted five things and here’s how the did: A

USD/CAD keeps just below 1.2300 to start European morning trade The pair extended its downside push yesterday, capitalising on the central bank divergence theme as the dollar tumbled across the board as well. The Fed kept a more dovish stance and with the BOC starting to taper, it continues to drive further interest in the

It is not time to start talking about tapering The EURUSD spiked higher as that Fed’s Powell said “It it is not time to start talking about tapering”. The EURUSD is now trading above the high from Monday at 1.21164. The high price traded to 1.2125.  Stay above the Monday high keeps the Bulls forward in control. The next

USD/JPY moves above 109.00 for the first time since 14 April Invest in yourself. See our forex education hub. 10-year Treasury yields are up to a high of 1.646% on the day and that is further underpinning USD/JPY this week as the pair continues its rebound to 109.00. Some light offers are seen in and

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NASDAQ index remains below its all-time intraday high. The S&P extended its all-time intraday high and backed off Both the S&P index and the NASDAQ index are closing at record high levels.  For the S&P, the previous all time high close came in at 4185.47. The index closed just above that level at 4187.74 For the