Technical Analysis

Some stall in the NZDUSD The NZDUSD based in the Asian session against the 200 hour MA  (green line). The hold was an invitation to go higher and the buyers obliged and marched to the upside. That move initially moved up to test day topside channel trendline. The corrective move off that line found support against the 38.2%

Month results are negative The month of September is now over and the major indices closed lower for the 1st time since March. Moreover the stocks posted the worst September performance since 2011.  The good news is that the major indices close higher for the 2nd consecutive quarter and they also closed higher for the day

A selling rush has push the price below its 200 hour moving average and now below the lows from yesterday and earlier today The USDCHF is pushing sharply to the downside. The pair has cracked below its 200 hour moving average at 0.92086, and the 38.2% retracement at 0.9202 and the low from earlier today and yesterday at 0.91899 and tests the

Modest declines ahead of the presidential debate The US stock market was relatively quiet today. The major indices all fell on the day and in the process snapped a 3 day winning streak for each.  The NASDAQ remains 8% below its record high. The S&P is some 7% below its record high. The final numbers are showing:

Price moved above its 200 hour moving average/38.2% retracement The EURUSD has been able to slice through its 200 hour moving average and 38.2% retracement near the 1.1722 area. That level is now close support and risk for buyers/longs (down to 1.17132).   The next key target comes in at the 1.17557 level. That is home to the 50%

Nasdaq leads the way The major indices closed higher across the board with the NASDAQ ending up leading the way.  The S&P and NASDAQ have now posted 3 days of higher closes.  All 11 sectors of the S&P closed higher.  The energy and financials led the rally today.   The Dow post the best day cents September 9 The final numbers are showing:

The 100 hour MA has been approached twice in the USDCAD and found buyers twice The USDCAD is trading up and down in choppy price action today. The pair is currently below the closing level from Friday at 1.3382, but the lows for the day tried to extend below the 100 hour MA (blue line

Nasdaq leads the way with a 1.5% gain The major stock indices of extended to new session highs. The NASDAQ is leading the way with a gain of 1.5%. A snapshot of the markets currently shows: NASDAQ index up 163 points or 1.53% at 10836.22 S&P index up 32.28 points or 1.0% at 3079/28 Dow is up 195.88

Down 210 pips on the week The EURUSD has had its largest week decline since March 2020 when the price fell 336 pips. The fall this week at current levels has seen the price move from the week Friday close at  1.18376 to the current level of 1.16276. That is a decline of 210 pips.   Looking at

Down $0.06 or -0.15% The price of WTI crude oil futures settle at $40.25. That is down $0.06 or -0.15%. The high price for the day reached $40.64. The low price extended to $39.71. The close last Friday settle that $41.32. The settle today $40.25, has pushed the price down $1.07 on the week. That

CFTC commitments of traders: The EUR longs increase and remains near records. CAD the only shorts. Coming Up! Title text for next article LON +1 SDNY+10 NY -4 TYO +9 GMT Technical Analysis CFTC commitments of traders data for the week ending September 22, 2020. EUR long 191K vs 179K long last week. Longs increased

Dow, S&P and Nasdaq close higher for the 2nd consecutive week The US stock indices are ending the session with gains across the board and near session highs: NASDAQ and S&P closed higher for the 2nd consecutive day The NASDAQ index close higher for the 1st weekly gain in 4 weeks The S&P and Dow are not so lucky.

Nasdaq up marginally The US stocks are off and running and the indices are mixed with marginal gains/losses.  A snapshot of the major indices currently shows: S&P index -7.46 points or -0.22% at 3239.52 NASDAQ index up 21 points or 0.21% at 10965 Dow -70 points or -0.26% at 26747 in the US debt market, the yields are

A up and down day in most major pairs today The forex market had some ups and downs in the USD today.  The day started with the greenback higher. It remained near high levels as London traders headed to the exit. However, some selling in the NY afternoon session has erased a lot of the earlier

NASDAQ index fell -3.07% yesterday The US stocks are opening lower with the NASDAQ leading the way again. Recall from yesterday, the tech heavy NASDAQ index fell by -3.07%. The S&P index fell by -2.37%A snapshot of the market currently shows: S&P index -0.25% NASDAQ index -0.42% Dow industrial average -0.21% The S&P and NASDAQ are down for the 6

S&P index falls over 2% The S&P index and NASDAQ index closed lower for the 5th time in 6 days. All 11 sectors of the S&P moved lower. Stocks closed near their session lows with the NASDAQ index tumbling over 3%. The S&P index is 9% away from its high. The NASDAQ index is now 12%

Earlier test of 200 hour MA found sellers today. The USDJPY stepped lower last week and traded low on Monday initially, before rebounding higher. The pair is working on its 3rd day to the upside (above the 104.913 closing level from yesterday). Looking at the hourly chart above, the pair moved up to test its 50% retracement of

Major indices reaching for new highs  NASDAQ index up 161 points at 10941.29. The high price just reached 10946.41. The 50 hour moving average is currently at 10943.01. S&P index up 31.26 points or 0.95% to 3312.53. It’s high price just reached 3314.42.  Dow industrial average is now up 134 points or 0.49% at 27280.