Technical Analysis

Gold gains remain limited going into the year-end Amid thinner market conditions, gold doesn’t much to work with as the year winds down as buyers are finding it tough to build further momentum after a solid December. For now, the $1,900 handle and the 100-day moving average (red line) is helping to put a lid

Low to high trading range of 1637 pips vs 691 pips in 2019 The EURUSD had an above average trading range for 2020 of 1637 pips. That compares to a range of only 691 pips in 2019. The 2019 trading range was the lowest trading range going back to at least 1980.   How did this years trading range of

Gold trades back towards $1,900, which is limiting gains for now For bank trade ideas, check out eFX Plus The delay in Trump signing off on the virus relief bill may see aid payments come later but the fact that we are able to put this whole saga behind us is but another step in

Gold is trading up by over 5% since the start of the month Despite a bit of a pullback from $1,900 from earlier in the week, gold has had a stellar month so far and if the seasonal pattern is anything to go by, January promises to be yet another solid month for gold buyers.

The USD is weaker As the North American session begins the NZD is the strongest and the CHF is the weakest. The USD is weaker as the market prepares for the last batch of data today including Durable goods, Initial jobless claims, personal income and spending, PCE deflator data and Canada GDP. All will be

New highs and tilt in the bias to the upside The GBPUSD has moved to a news session high and in the process has extended above its 100 hour MA at 1.3440.  The catalyst is a story saying that the is a deal is ”pretty much of there”. Looking at the hourly chart, the price has been

MAs converging The USDJPY is is ping-ponging between its 100 hour moving average below and its 200 hour moving average above. Him ThHime 100 hour moving average currently is at 103.395. The 200 hour moving averages at 103.573.  Apart from some modest peaks below and above the MAs, the price has been confined by that range.   The narrow trading range and acceptance of support

Crude oil prices are moving higher helping to strengthen the loonie The USDCAD is moving to a new session low and in the process is looking to retest the 100 hour MA (and a swing area). The 100 hour MA is currently at 1.28314. The swing area comes in between 1.28249 and 1.28322. Also in play is

Failed break on Friday, sends the price back into the sideways range The EURJPY has continued to waffle in a range. The high is mostly defined between 126.648 to 126.734. The low is defined by 125.70 to 125.778.   In between sits the 100/200 hour MAs between 126.275 and 126.345.   The price is below those MAs

German Dax up 1.35%. France’s Cac up 1.45%. Yesterday, the major European indices all fell sharply: German DAX, -2.8% France’s CAC, -2.4% UK’s FTSE 100, -1.8% Spain’s Ibex, -2.8% Italy’s FTSE MIB, -2.4% Today, there has been a recovery elderly some of the declines. The provisional closes are showing: German DAX, +1.35% France’s CAC, +1.49% UK’s FTSE 100,

Down $-1.36 or -2.77% the price of crude oil futures is settling at $47.74. The high for the day reached $48.61. The low reached $$46.18.  For the February contract, the price settled at $47.97. That is down -$1.27 on the day. The price fall today took the contract down to and through the 61.8% retracement of the years

Break above 200 hour MA fails today The USDJPY raced higher in the London/European session on flight to safety (although it is hard to see much safety anywhere). The push took the price of the USDJPY above a swing area between 103.546 and 103.713 and then the 200 hour MA at 103.758. The high price

Double top and double bottom in the trading range this week The USDCAD has extended above its 200 hour moving average at 1.2757 after trading above and below the moving average level for most of the London afternoon/NY early morning session. The price high has extended up to 1.27853. We currently trade at 1.2779. For the week, the

NZDUSD stalls ahead of 100 hour moving average and 38.2% retracement The price of the NZDUSD spent the 1st 3 days of the trading finding resistance sellers against a swing area between 0.7112 and 0.7120 (see yellow area and red numbered circles).  Meanwhile, the moves to the downside saw the price stall near support between 0.7053 and 0.7058. After bottoming

Up $0.74 or 1.53% The WTI crude oil futures are settling the week higher on the day and trading at the highest level since February 26, 2020. The January contract settle at $49.10. That’s up $0.74 or 1.53%. The high for the day reached $49.28. The low extended to $48.10. Last week the price close of

Major indices rebounded into the close but and lower NASDAQ snaps a 4 day winning streak Each of the major indices set intraday all-time highs S&P 500 snaps a 3 day win streak major indices close higher for the week It was a quadruple witching hour today and also a rebalanced day for the S&P

German DAX falls for the 1st time in 5 trading days The European stock markets are coming to a close and the major indices are closing with declines and near session lows.   The German DAX was the big winner this week, but fell for the 1st time in 5 days today. The Spanish Ibex was

S&P post 31st record close of the year US major indices all closed higher. Some of the highlights for the day include: S&P, NASDAQ, Russell 2000 close at record highs NASDAQ on track for the best year since 2009 Russell 2000 on pace for the 7th straight weekly gain S&P higher for the 3rd straight