Technical Analysis

Mixed results for the week The major European indices are ending the session lower. For the week, the results are mixed: German Dax, -0.9% France’s CAC, -0.8% UK’s FTSE 100, -0.9% Spain’s Ibex, -1.2% Italy’s 50 MIB, -0.65% For the week, the provisional closes are showing: German Dax, +0.8% France’s CAC, -0.55% UK’s FTSE 100, -0.6% Spain’s

CFTC Commitments of Traders: JPY long switched to short (dollar long). Dollar buying against all other currencies. Coming Up! Title text for next article LON SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly forex futures positioning data for the CFTC for the week ending Tuesday, March 16, 2021 EUR long 90K vs 102K long last week.

USD/JPY keeps little changed on the day after an initial spike higher Was the BOJ more dovish or hawkish today? That’s a question that yen traders may not necessarily get the answer to in the immediate aftermath. There were a couple of key takeaways from the policy decision, so let’s explore: BOJ removes ETF target

100 hour MA at 13206.04 The Nasdaq index is trading to a new session low and in the process is retesting – and now breaking -  its 100 hour MA at 13206.03. The low has reached 13183.99. The current price is at 13199.  The price of the Nasdaq closed yesterday above its 200 hour MA

Gold is down 0.3% to around $1,740 currently Invest in yourself. See our forex education hub. The low earlier hit $1,735.60 but gold is holding around a key short-term technical level around $1,740 currently on the session. The post-Fed knee-jerk reaction saw gold jump above the short-term resistance around $1,740 but buyers never really got

Key levels at the end of the Fed chair press conference Below are the levels as chair Powell began his press conference and after: Forex rates vs the USD: The dollar moved lower.  EURUSD 1.1961.  Up to 1.1973 . USDJPY 108.96.  Down to 108.83  GBPUSD 1.3918.  Up to 1.3949  USDCHF 0.9240. Down to 0.9219  USDCAD 1.2442. Down to 1.2412  AUDUSD 0.7765. Up

The USD is mixed As North American traders enter for the day, the CHF is the strongest and the GBP is the weakest.  The USD is trading mixed.  Most of the major currencies are close together in the ranking. The USD has changes of less than 0.17% vs EUR, JPY, CAD, AUD and NZD.  In the US, retail sales will

Break to the upside fails The EURUSD and move lower after the retail sales report. The EURGBP is also pushing back to the downside after earlier gains.  Looking at the hourly chart, the price of the pair broke above a topside trendline in the 200 and 100 hour MAs after waffling up and down for most of Monday’s trade. 

The GBPUSD moves below 200 hour ma, trend line but finds support at swing area Earlier in the day, the GBPUSD was finding support buyers near the 200 hour MA.  However, if broken, the downside was vulnerable. I wrote: That 200 hour moving average will be a barometer for buyers and sellers going forward on the downside.

German Dax has back to back declines after 4 consecutive record closes last week The European major indices are ending the day mostly lower. Italy’s FTSE MIB bucked the trend with a modest gain.   The German Dax fell for the second consecutive day after closing at record levels for the first four days of last week’s trading.

A good week for European equities as they benefit from flow of funds The major European indices are ending the week with mixed results.  The German Dax broke its four day streak that also saw new all time highs being made.   The provisional closes are showing: German DAX, -0.5% France’s CAC, +0.2% UK’s FTSE 100, +0.4% Spain’s Ibex, +0.45%

200 hour MA/swing area stalls the rally today The EURGBP spent most of the trading week trading up and down with a base near 0.8547 to 0.85508 and a ceiling around the 0.8580 area.   The 100 hour MA was also a resistance level that turned back the price yesterday and today….until it didn’t. The “didn’t” 

Canadian dollar was the top performer this week USD/CAD broke down to a fresh three-year low today, edging through the February floor. It’s the culmination of a great week for the currency that was capped off with a very strong jobs report. At the bottom of the ledger is the yen, which isn’t a surprise

Nasdaq lags once again. Russell 2000 also closes at a record The Dow and the S&P closed at another record high.   Dow has its best week since November Nasdaq index lags once again as the rotation into the major cyclicals continues The Russell 2000 also closed at a record level today The final numbers are showing: S&P index, +3.99 points

After pings at the 100 hour MA The ping -pong of the EURUSD has pushed the price from a ping at the 100 hour MA (blue line) to the pong at the 200 hour MA (see earlier post here laying the groundwork for the ping pong).    Yesterday, the price moved above the 200 hour MA

Nasdaq lead the way with a gain of 2.56% The S&P, Dow and Russell 2000 all closed at record levels today. The Nasdaq index led the way to the upside, but is still 5 1/2% away from it all time high.  Dow up for the 5th consecutive day and closed at a new record for

Stay below 1.25865 now The USDCAD has been trading mostly between 1.25865 on the downside and 1.26976 on the topside over the last 10 or so trading days.  Today, the pair crack below that level but found buyers initially near the swing low from March 4 and the price rebounded. That bounce extended above a lower swing area between 1.25865

Yields are mixed but off highs The 10 year auction had a 1 bp tail but the other numbers were not all that bad. As a result, yields moved lower. The 10 year yield is down to 1.519%, down -0.7 bps on the day. The low reached 1.5039%, while the high reached 1.5647%. The 2