Technical Analysis

WTI down by another 4% to $35.80, its lowest since mid-June For bank trade ideas, check out eFX Plus The drop in oil yesterday was bad but things are looking worse from a technical perspective today, as we see price break below its 200-day MA (blue line) and now threatening a fall below its 8

Big day tomorrow on the earnings front The major indices fell sharply on Covid/election fears. European countries imposed new restrictions. Case count continue to rise putting pressure on hospitals. A lack of a coronavirus stimulus deal in the US is also weighing. Finally, uncertainty about the upcoming election is also frightened traders. The volatility index (Vix index )rose

EUR/JPY sellers in search for a stronger technical break to the downside For bank trade ideas, check out eFX Plus The low today touched 122.34, and that is the weakest level the pair has traded since 20 July. But on the daily chart, the pair is pretty much flirting with support from the 28 September

Dow closes lower for the 3rd straight day The major indices are closing mixed with the Dow taking the brunt of the selling. The Nasdaq index closed higher ahead of Microsoft’s earnings. Highlights: Dow and S&P closed near session lows Dow post 3 day losing streak NASDAQ close higher for the 3rd time in 4 days Dow close that

The greenback is the laggard to start the day EUR/USD is running into a test of its 100-hour MA (red line) as we look to get into European morning trade, with buyers attempting to wrestle back near-term control in the pair after the shove lower yesterday fell short of testing the 1.1800 level.For bank trade

Trades near unchanged on the day While stocks tumble lower and yields move to the downside, the price of gold has been relatively steady. The price has been trading above and below unchanged. The price is currently up about $1 or or 0.06% at $1903.14.  The high for the day reached $1908.59. The low was at $1891.38.

Highlights of the debate E-mini was trading down -4.58 points at the start of the debate. Pres. Trump A vaccine will be available in weeks Vaccine is not guaranteed but will be coming by the end of the year there will be no dark winter for Covid we are learning to live with the virus. We have no

Swing area and topside trend line on hourly stalls the rally The USDJPY move higher yesterday and in the process tested a topside channel trendline and a swing area in the 104.92 – 104.94 area.  That trend line and swing area stalled the rise.  Trading in the new day has moved back lower and gotten closer to the

EUR/USD pares its decline in a slight nudge higher from 1.1804 to 1.1819 For bank trade ideas, check out eFX Plus The German economy is keeping more resilient in the wake of the second virus wave in Europe, as the manufacturing sector is doing the heavy lifting – helped by export demand – in limiting

The dollar slips to its lowest levels on the day The more upbeat German manufacturing PMI data earlier is helping to give regional stocks a broader lift and in turn that is translating to some weakness in the dollar now. This also comes as the euro is nudging a little higher and buyers have seized

Sterling gains fade The New Zealand dollar is the top performer this week while the US dollar was the laggard. Even today with USD staging a bit of a comeback, it’s not sticking as the kiwi pushes back into positive territory. The break above the October highs is constructive for a retest of 0.6800 in

EUR/USD aims towards the week’s highs as the dollar keeps weaker For bank trade ideas, check out eFX Plus The shift in the market mood came after the German manufacturing PMI beat earlier and since then, the dollar is finding it tough to stand its ground after having snapped a four-day decline in trading yesterday.

It wasn’t a dumpster fire, so sellers cover The S&P futures have turned positive now with the index up 0.14% at 3454. The move to the upside is probably attributed to the debate that was more debate vs. the yelling and screaming from the 1st debate. Going forward, the other story that traders have been

The dollar is maintaining a slight advance for the most part thus far For bank trade ideas, check out eFX Plus The dollar is holding its ground on the session and is keeping a modest advance against the pound, as cable slips to a session low of 1.3093 and testing the 1.3100 handle. A drop

Stocks off to a weak start  The Asian equity markets are moving lower and the US futures markets are also weaker. The weakness in equities is helping to strengthen the US dollar, and with those gains, sending gold lower.  Fundamentally, the markets are concerned about the US stimulus deal.  A news story that Russia and Iran were interfering in

USD/JPY falls to its lowest level since 22 September, just below 105.00 Dollar weakness is the major theme in the currencies market today and it is apparent that a lot of that is riding on the back of hopes of a stimulus deal coming – one way or another. While short-term headlines may still bring

NASDAQ snaps 5 day losing streak. Dow and S&P break 4-day decline The US major indices snapped their losing streaks but also close well off there intraday highs.  The NASDAQ index had had a 5 day losing streak while the Dow and S&P declined for 4 straight days. S&P index closed up 16.23 points or 0.47%

EURUSD trades at the highest level since September 21 The EURUSD is traded to a new session high and in the process has taken out the month high at 1.18304.   As outlined earlier, the pair tested a swing level between 1.1845 and 1.18161 and stallled. However, another swing area between 1.1797 and 1.17994 was holding intraday support.  The pair moved above the upper