Technical Analysis

Sterling keeps steadier after the correction to the upside move last week Invest in yourself. See our forex education hub. Cable has backed off earlier highs closer to 1.4000 as the pound loses a bit of its earlier momentum but is still keeping higher so far today. The slight retreat also comes as we see

The sell everything mode in the market is dragging gold lower as well Invest in yourself. See our forex education hub. Gold is down 0.7% on the day as price falls below its 30 November low @ $1,764.80, trading to levels last seen since June last year. With the November low and 50.0 retracement level

EUR/USD sellers look to try and seize near-term control Despite calmer tones in the market so far in European morning trade, the dollar is still keeping bid as there is still an air of uncertainty ahead of US trading later. EUR/USD is pushed to fresh session lows @ 1.2123 and is testing trendline support as

EUR/USD climbs to a six-week high of 1.2200 Invest in yourself. See our forex education hub. Despite yields ticking higher to start European morning trade, the dollar is actually tracking lower across the board – except against the yen – in the major currencies space. EUR/USD has climbed to a fresh high of 1.2200, its

WTI crude is up another 0.7% to $63.70 today Invest in yourself. See our forex education hub. The gains in oil this month have been rather unrelenting, with the rally even looking past news that OPEC+ may be looking to decide on increasing production starting from April at its next meeting in March. That said,

Russell 2000 index rises by 2.38% The major stock indices all closed sharply higher with the Russell 2000 of small-cap stocks outperforming with a gain of 2.38%. The Dow industrial average is closing at a record high of 31961.86. It reached an intraday all-time high of 32009.64.   A look at the closing levels shows Russell index up 53.08 points or

German DAX, +0.8%. France’s CAC, +0.3%. UK’s FTSE 100, +0.6%. The major European indices erased earlier declines and are closing higher on the day. A snapshot of the provisional closes shows: German DAX, +0.8%. The low for the day reached -0.06 percent France’s CAC, +0.3%. The low for the day reach -0.37% UK’s FTSE 100,

NASDAQ closes lower for the 5th time in 6 trading days S&P index and Dow industrial average moved higher on the day, but the NASDAQ continued its moved to the downside. S&P index closed higher for the 1st time in 6 trading days NASDAQ index closed lower for the 5th time in 6 trading days

The new low for the day did not find any momentum The GBPUSD dipped to new lows as the US stocks were tumbling lower.  That low breached below the early European low of 1.40581, but only made it to 1.40536 before bouncing. As per the earlier post, I commented on the choppy market conditions by saying: With the price action choppy, buyers

Moves above swing area  The EURUSD traded above and below a swing area between 1.21435 and 1.21496. However in the last hour or so, more buyers have entered the market and pushed the price up toward the high price from last week at 1.2169. There should be some sellers against the level with stops on a break

Cracks below trendline/100 hour MA and looks to test 50% midpoint The USDCHF has seen a volatile move to the upside and back down and is now looking to test the low for the day and complete the “up and down lap”. Technically, the price action today broke back above its 100 day moving average on the way higher

High reached 13985.578 between 50 hour MA at 13973.62 and low from Wednesday at 13995.44 (top of gap) As per and earlier post, the NASDAQ index was looking to test the 50 hour moving average (white line in the chart below) and the low from Wednesday at 13995.447. That low would have filled the gap between Wednesdays and Thursdays trade. 

Yesterday’s post laid out what was needed to get out the NZDUSD chop In a post yesterday (CLICK HERE), I laid out the reasons why the 0.71747 to 0.7177 was support and 0.7224 to 0.72252 was resistance for the pair (see green numbered circles and red numbered circles in the chart above).  At the time

WTI crude oil futures settle down $-1.27 or -2.09% The price of WTI crude oil futures for April delivery settle at $59.26 today.  The high price reached $60.32. The low extended to $58.60. The price has since moved back below the 59 level. The price currently trades at $58.96.  For the week, the price last Friday closed at $59.58.

CFTC commitments of traders: Small changes and speculative positions. EUR remains the largest position Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Technical Analysis Weekly forex futures positioning data from the CFTC for the week ending Tuesday, February 16, 2021 EUR long 140K vs 140K long last week. Unchanged

NASDAQ index and Dow industrial average close marginally higher. Russell index surges The S&P index closed lower for the 4th consecutive day. That is the longest losing streak for the year S&P and NASDAQ post the 1st weekly loss in the 3 weeks NASDAQ and Dow industrial average have modest gains on the day Dow’s

Gold keeps lower by 0.3% but off the lows earlier in the day If something can’t go up on good news, then there’s only one other way it will go. That might just be the story for gold as it fails to catch a respite even as the dollar has slumped by quite a bit

100 hour MA at $60.32. Trend line at $59.94 The price of WTI crude oil futures settle at $60.53. Since then it has moved down toward the $60 level once again. The low for the day reach $59.81 a few hours ago.  On the dip, the price is looking to retest a lower trendline of $59.94 currently (and