Technical Analysis

German DAX -0.22% The European major indices are ending the day mostly lower. The UK FTSE 100 is the outliner with a small gain. The provisional closes are showing German DAX, -0.22% France’s CAC, -0.7% UK’s FTSE 100, +0.1% Spain’s Ibex, -0.6% Italy’s FTSE MIB, -0.35% In other markets as London/European traders look to exit:

Bounced off the 200 hour MA earlier today The NZDUSD has corrected lower in trading today after trading to the highest price since April 2018 yesterday. The moved to the downside has taken the price below its 100 hour moving average (blue line in the chart above) and down to the 200 hour moving average (green line).  The low

Below trend line/38.2% retracement/swing highs from Tuesday and Wednesday The headline news that the EU/UK would not reach a deal today, has sent the GBPUSD now below the support defined by the: 38.2% at 1.3442 Swing highs from Tuesday and Wednesday at 1.34408 and  An upward sloping trend line at 1.3441 The low reached 1.34242.

Major indices close near highs All 3 major indices close at record highs today. The Dow and S&P close higher for the 2nd consecutive week The NASDAQ close higher for the 3rd consecutive week The S&P index outperformed the Dow and Nasdaq although all closed near session highs. The final numbers are showing: S&P index rose 32.4 points or

GBP/USD pares the jump earlier to 1.3494 as price retreats back to 1.3450 For bank trade ideas, check out eFX Plus The pair got a jump from the earlier headline here, before giving back all of the gains now as we see a retreat upon nearing a test of 1.3500. There is also key daily

Dollar trades near lows vs. the major currencies The US dollar has continued its fall in early New York trading. The US dollar was the weakest currency entering the New York session and has continued that move lower in the 1st few hours of trading. Looking at the rankings of the strongest of the weakest,

The greenback pares most of its earlier losses on the session EUR/USD has slipped back to 1.2104 currently, after having posted a session high of 1.2139 earlier as the dollar gave up further ground in early trades. The greenback is now paring that earlier decline as we also see AUD/USD turn flat at 0.7415 after

New low today, but choppy up and down trading The USDCAD made a new low going back to October 2018 today. The pair took out the low from Monday at 1.29226. The low price – reached in the early European session – reached 1.29156.  However, momentum slowed and sellers on the break, were forced to

The greenback keeps steadier after the decline yesterday but nothing that really stands out all too much EUR/USD touched a high of 1.2088 earlier before retreating amid a decline in cable on the back of Brexit headlines, with the risk mood also more tepid on the session. European indices are slightly softer while S&P 500

EURUSD is up around 130 pips on the day. The EURUSD has continued its trend to the upside and is extending to new session highs. The move took the price above a swing low going back to April 2018 at the 1.20545 level. The next target comes in at the January 2018 swing high at 1.20884.

GBP/USD climbs to a session high of 1.3393 For bank trade ideas, check out eFX Plus The pound is leading gains in the major currencies space, with cable inching near key resistance close to 1.3400 after buyers put up a stern defense of the 200-hour moving average (blue line) since trading yesterday. The push back

Down -$0.19 or -0.42% The price of crude oil futures are settling the day at $45.34. That’s down $-0.19 or -0.42%. The high price for the day reached $45.80. The price of crude oil fell toward session lows in the New York session after a headline saying Saudi Arabia mulls quitting role as co-chair of

Flows into back into EUR today.   The EURGBP has moved back above its 200 day MA at 0.89547 (green line in the chart below).  The pair has been wandering higher over the last 4 days after bottoming in the 0.8860 to 0.88798 swing area and the 50% of the range since December 2018 low at

UK FTSE recovers earlier declines. The European shares are closing higher on the day. The UK FTSE is closing higher after trading sharply lower earlier in the day (-0.95%).  It is closing up 0.07%.  A look at the closes shows: German Dax, 0.37% France CAC, 0.56% UK FTSE, up 0.07% Spain’s Ibex, +1.06% Italy’s FTSE

Corrective run higher, runs out of steam and tumbles back down The GBPUSD has fallen back below it’s 200 hour MA at 1.3311. The pair also fell below a swing area between 1.3309 and 1.33116. The pair moved down to test Tuesday’s low at 1.32912.   The run back to the downside erased the early New York session gains which is

200 hour MA at 104.11 The USDJPY is lower on the day and trades below the 200 hour MA at 104.114.  Admittedly, the price has traded above and below that MA level.  Early in the Asian session, the price fell below the moving average line and continue to the low for the day at 103.90. The subsequent rise

Down $0.18 on the day The price of WTI crude oil futures settle that $45.53. That’s down $0.18 or -0.34%. The high for the day reached $46.09. The low extended to $45.55. Technically, the price found support buyers against the swing high from August at $44.59. That was the highest level going back to March.

The USD is mixed in semi-holiday post Turkey Day Hangover day The day after Turkey Day will see the Bond and Stock markets close early, but they are open and the USD is trading mixed with gains vs the GBP, and CHF and declines vs the EUR, CAD, AUD and NZD. Overall, the NZD is