Technical Analysis

This is going to be a key question in the FX market this week As much as the dollar has shown much resilience to start the new year, are we starting to go back to focusing on the Fed put and what that means for the greenback in the larger context of the trading landscape

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Dow industrial average leads the way The major indices are opening higher. With the S&P and NASDAQ index is trading to new record highs. The Dow industrial average is leading the 3 with a gain of around 0.5%. A snapshot of the indices currently shows: S&P index up 18 points or 0.46% at 3889 NASDAQ

1st time above 200 hour moving average since January 27 The AUDUSD is trading to a new session high and in the process has moved above the high from yesterday, the 38.2% retracement and the 200 hour moving average (green line) all around the 0.7645 area (give or take a pip). Bullish. The price move above the 200 hour moving averages

First break above 100 day moving average since May doesn’t go so well The USDDCHF moved above its 100 day moving average (and closed above) in trading yesterday. That was the 1st close above the level since May 25. However the break didn’t go so well. We are currently trading back below that moving average line. The 100

Ups and downs continue in the NZDUSD pair The NZDUSD has tilted the bias back to the upside after moving back above the 50% of the range (going back to January 20) and the 100 and 200 hour MAs. Those three technical levels are between 0.7176 and 0.71809.   The lows today tested the low from Tuesday

German DAX falls slightly breaking the 4 day win streak. Italy and Spain have risen for 5 consecutive days The European shares are ending the session with mixed results. Italy and Spain led the way today and in this week. Each of their indices increased every day this week. A look at the provisional closes

The USD is modestly weaker on Unemployment Day As North American traders enter for the day, the CAD is the strongest and the NZD is the weakest of the major currencies.  The USD is modestly weaker ahead of the US jobs report at 8:30 AM ET where Non farm payroll is expected to rose by

Russell 2000 also closes at a new record high The major indices all closed with solid gains led by the small Russell 2000 index which surge by 1.8%. The NASDAQ composite index rose by about 1.23%. Record high closes for the NASDAQ, S&P, and Russell 2000 The major indices all closed near their highs for

The USD is higher As North American traders enter for the day, the AUD is the strongest and the EUR is the weakest. The GBP, which was weaker coming into the current hour, has reversed the declines and is now moving back higher after their interest rate decision and statement which downplayed negative rates again. 

S&P and Dow leads the way higher. NASDAQ closes lower on late day sell off The major indices are closing mixed, but gave up most of the day gains into the close. A look at the closing levels shows: S&P index rose 3.77 points or 0.10% at 3830.08. The high price reached 3847.51. The low

Mizuho outlines the conditions for USD/JPY to rise The firm says that the market isn’t seeing a significant yen weakening trend at the moment but will feel more comfortable about USD/JPY going back to the 105-110 range if 10-year Treasury yields climb more significantly from hereon. Adding that many exporters are seen putting USD/JPY at

S&P post the best day to day performance since November The major indices closed higher for the 2nd consecutive day with solid gains across the board ahead of earnings from Amazon and Google after the close. The final numbers are showing: S&P index +52.37 points or 1.39% at 3826.24 NASDAQ index up 209.38 points or

Scotiabank argues that the ECB is running out of options to stem further strengthening in the euro currency The firm says that the rise in EUR/USD since March last year has prompted “what resembles a campaign to implicitly cap the currency” but that won’t be enough. “We think that the ECB will soon run out

S&P and NASDAQ close near session highs The US broader market indices are closing with big gains led by the NASDAQ index. Both the S&P and NASDAQ close near highs for the day Russell 2000 broke a 5 day losing streak All sectors of the S&P closed higher today a look at the final numbers

The euro doesn’t look to be doing too well at the moment In the run up to the new year, the deterioration in the dollar set the euro up for a solid start alongside some key fundamentals – which have since turned around. Let’s review: 1. Virus situation in Europe was worsening but expected to

The USDCAD has been tumbling lower after the swing highs stalled the rally The USDCAD rose toward the high from yesterday at 1.28804 in the Asian session only to fall short of that target.  The high price reached 1.2874. Sellers started to push the price back down and the momentum has increased into the North American session.  Along the way,

Up over 60% since Wednesday The Vix or volatility index is trading up at 33.37 after reaching a high of 37.51 earlier in the day. The index has increased some 65% since Wednesday alone.    As volatility increases, so too does the Vix index. The volatility in the meme stocks has now rotated into the larger cap