Technical Analysis

NASDAQ index on track for the longest winning streak since August 2019 The NASDAQ index closed lower for the 5th consecutive day Stocks close near session lows All 11 sectors in the S&P closed lower S&P and Dow close down for the 4th out of 5 days the NASDAQ index has its longest losing streak

The 100 and 200 hour MA is now a risk defining ceiling for the USDCAD The USDCAD corrected higher on Thursday of last week and in the process moved up to test the 50% midpoint of the move down from the September 30 high. That level comes in at 1.3259 and that is where the

S&P and NASDAQ trim losses With 37 or so minutes ago into the close, the major indices are making a comeback.  The S&P index is down -6 points or -0.17% at 3482.62. The high price reached 3483.35. The low price extended to 3440.89 The Dow industrial average is down 11 points or -0.04% at 28503.32. It’s

What key levels are in play in the new trading day EURUSD: The EURUSD traded lower on the day (-43 basis points). However for the New York session, the price traded above and below the 61.8% retracement of the move up from the September 25 swing low at 1.16952 in a narrow trading range. The high

Major indices recover off session lows The major indices close lower for the 3rd straight day. However the indices closed well off there lows for the day. Highlights include S&P and NASDAQ on track for weekly gain Dow on track for its 1st losing week in 3 weeks Healthcare was the worst sector while energy

GBP/USD inches a little higher towards 1.2940 For bank trade ideas, check out eFX Plus The market is starting to position itself for Boris Johnson to announce an extension of trade talks with the EU later today, and more so now following Dominic Raab’s comments that “there is a chance” for a Brexit deal and

GBP/USD falls by about 100 pips before settling closer to 1.2900 now For bank trade ideas, check out eFX Plus Cable was treading close to its 200-hour MA (blue line) earlier @ 1.2960 before UK PM Johnson offered a surprise response to the EU summit yesterday in calling for preparations of a no-deal Brexit by

Will Johnson do the unexpected and blow up negotiations for good? The pound is drifting to start the day, with cable seen back under 1.2900 ahead of European trading but not really facing any urgency to retest the lows this week @ 1.2863. For now, sellers are still keeping a more bearish near-term bias upon

Can the price stay below? The AUDUSD cracked below the 100 day MA at 0.70914. That was the first break below the MA since May 18.  In September (at a lower level), the MA was tested but found buyers against the level.  The low today moved to 0.7056. That did break below the swing high from June and

NASDAQ leads the way lower  The major indices close lower for the 2nd consecutive day. The NASDAQ index was the weakest of the majors today. Some highlights: S&P and NASDAQ index is trading lesson 3% from the all-time high Stocks have their first 2 day losing streak since September 18 The Dow industrial average turned back for

Price retraces back to the swing area around the 1.3000 level The GBPUSD started the NY session running above the 100 hour MA (blue line), and then through a swing area at 1.2999 to 1.3006. The run higher eventually exhausted itself but not until nearly completing the down and up lap near the highs from yesterday at

Major indices all closed lower The US major indices all closed lower for the 1st time in 5 trading days. Each of the major indices have been up for 4 consecutive days. The NASDAQ tried to rally but is ending the day marginally lower. The introduction of the new iPhone 12 could not push Apple

Looking for a break and run The USDCAD trended lower last week and reached new low yesterday (by about 8 pips) and again today (by about 2 pips more).  That break and move is not what you really want/expect. The pair has rebounded higher. The move to the upside in the North American session has

Option expires for Tuesday, October 13 The key option expires for Tuesday, October 13 include: EURUSD: EU2.7B at 1.1800. The current price is 1.1802.   EU748B at 1.1900 USDJPY: $705M at 106.10. The current price is down at 105.34 currently.  Notable forward looking expires on October 15 come in at 104.85 for $1.0B and 1.1B at 105.25

Nasdaq getting closer to all time high The US must continue to move higher with the Nasdaq leading the way. That index has reached a high of 11845.01. That is not that far off its all-time high price of 12074.76 (about 1.9% from the all time high).  The index is currently up around 240 points or 2.08% at 11820.

Down $0.56 or -1.3% The price of crude oil had an up and down day today. The price was initially higher rising to $41.47.  However after headline news saying the Norwegian strike was called off, the price rotated into the red and is closing down $0.59 or -1.43% at $40.60.  The high for the day reached $41.47.  The low extended

Range for the day has reached 120 pips The GBPUSD has continued the run to the upside seen in the NY session. The range at the start of the NY session was only 50 pips. That range has been extended by 70 pips to 120 pips so far.  Although higher, it is still below the 22 day average of

Range is above the average range The USDCHF as trended lower with the dollars move lower today. The range today has been an extended 75 pips. That is 21 pips above the average trading range seen over the last 22 trading days. For the week, last Friday the pair closed at 0.9196. The price traded to a