Technical Analysis

First break since Feb 26th was short lived The AUDUSD extended above its 200 hour MA in the early NY dollar selling. That MA comes in at 0.77352. The high for the day reached 0.77452.  However, momentum faded (with the Nasdaq index mainly although the Dow and S&P kept most of strength), and the price

The reversal in rates and the dollar helps emerging currencies The USDMXN has been pushing higher as US interest rates increased, the dollar increased.  The pair moved above its 200 day moving average for the first time since early October on Friday, and moved to a new high going back to early November at 21.6354 during yesterday’s trade.  Today with the dollar

NASDAQ up over 2.5% With yields moving lower today (10 year down 5.9 basis points), the NASDAQ index has seen a sharp rebound to the upside after yesterday’s 310 point decline. The index is currently up over 2.5%.  Other indices are also higher with the Dow industrial average lagging (after its over performance of late). The snapshot of the market currently

Higher yields remain the catalyst The longs in the technology stocks continue to get hammered and the rotation into the cyclical continues as fears of interest rates have traders repricing the high flyers of 2020. The final numbers are showing: S&P index -20.72 points or -0.54% at 3821.23 NASDAQ index -310.98 points or -2.41% at 12609.16 Dow industrial average rose

Stocks lower. Yields higher. The USD is the strongest and the NZD is the weakest as NA trader enter for the day (and to start the week). The US stocks are lower with the pressure on the Nasdaq. The US rates are higher with the 5 year up 3.7 bps and 10 years up 3.1

Stays below the 100 day MA The Nasdaq index had the price fall below is 100 day moving average near 12626.  Yesterday the price fell below the moving average line as well, but rebounded and close above the level.    Looking at the price action today, the pair once again fell below the level and traded to a new low

A rotation in the European shares perhaps? The major European indices are ending the day lower. However if you look at the week, despite the anxiety in the US markets, the indices are all higher. A look at the provisional closes shows: German DAX, -0.9% Francis CAC, -0.8% UK’s FTSE 100, -0.4% Spain’s Ibex, -0.8% Italy’s FTSE MIB, -0.7%

S&P index also higher The comments from Feds Kashkari and Bullard, seem to have given the stock market a boost.  .  The 10 and 30 year yield are in the red now with the 10 year down -0.5 basis points and the 30 year down -3.6 basis points.   The major indices currently show: S&P index up 18.48 points or 0.49% at 3786.88 NASDAQ

WTI crude oil settles at $66.09 The price of WTI crude oil futures closed the week at $66.09.  That is up $2.26 for 3.54%. The high for the day reach $66.40. The low for the day reached $63.82. Looking at the daily charts, the high price extended above the high from January 2020 (on a continuous

Major indices close near highs for the day It was another wild day in the equity complex.   The major indices are all closing higher and near their session highs after earlier falls were erased. Dow posted the best weekly performance in four weeks NASDAQ sees its second straight weekly loss Dow S&P and NASDAQ snap three day losing streak

GBP/USD falls to 1.3800 for the first time since 12 February It has been quite the fall from grace for cable after having hit a high of 1.4237 last week. The pound lost ground and cable fell back under 1.4000 and has struggled to get back above that this week, before extending its decline in

Russell index falls -2.76%. The NASDAQ index was -2.11% The major indices tumbled once again with the NASDAQ and Russell 2000 index leading the way to the downside. Feds Powell’s interview with the Wall Street Journal did not help hope that the Fed chair would look to talk down (or act on) the higher long-term rates. That did not

Silver down over 1% to the lows of $25.63 on the day Invest in yourself. See our forex education hub. The drag in gold is also inadvertently having a negative pull on the likes of silver and platinum lately and we are seeing more of that today as well with silver having fallen to its

Looks to close back below the 200 day MA for the 2nd time in 5 trading days The price of Amazon has dipped below the $3000 price level for the 1st time since early November.  The low price in November reached $2950.12. The September low reached $2871.  . There is a bounce however with the price currently trading

EUR/USD cracks below its 100-day moving average and trendline support Invest in yourself. See our forex education hub. Price hits a session low of 1.2005 and is holding just above the 1.2000 level for now, but sellers are pushing the agenda as they are trying to keep a break below the 100-day moving average (red

Oil claws back earlier losses to unchanged levels around $60.65 Invest in yourself. See our forex education hub. WTI crude was down by 1% at the start of European trading just below $60 but has clawed its way back higher on the session as traders brush aside fears of OPEC+ increasing supply at the meeting

Gold is down 0.4%, falling to a low of $1,707 earlier in Asian trading Invest in yourself. See our forex education hub. A firmer dollar is also part of the story today but the gold outlook has been rather shaky for quite a while now. The break of the November low last week has not

Commodity currencies lead the charge on the day so far The loonie, aussie and kiwi are pressing session highs against the dollar now as we begin European morning trade, with risk trades looking in a better spot today. Oil is up by nearly 2% to $62.70 while S&P 500 futures are now up 1% on