Technical Analysis

100 hour MA at 104.644 The USDJPY string of down days was snapped at 5 yesterday when the pair corrected higher. That move took the price toward its 100 hour moving average (blue line in the chart below).  Since then, the pair has traded above that MA line on about 5 separate hourly bars with each finding sellers

S&P and NASDAQ down for 4 days.  Dow on 3 day losing streak The major indices all closed lower but well off the highs. S&P and NASDAQ are still lower for the 4th consecutive day Dow down for the 3rd day in a row NASDAQ closes 11% below its all-time high but nearly erased a -273

The pound continues to struggle for momentum as buyers fail to breach the 1.30 level in trading last week For bank trade ideas, check out eFX Plus After the slide to start the month, cable got some reprieve last week on a push towards 1.3000 but the key level held and shifted the focus to

The buyers took their shot this week The USDCAD trades above and below its 100/200 hour MAs which are near converged at 1.3179.  That comes after the pair peaked at 1.3200. That was just short of a swing area between 1.32015 and 1.32067.  The buyers this week, took their shot back above that area yesterday

German DAX tries to move back to positive on the year, but fall short this week The major European indices are ending the session lower. The declines the downside are being led by Spain’s Ibex which fell around 2%. Madrid is enacting mobility restrictions on fears of Covid resurfacing. The German DAX tried to move back positive for the

A week full of ups and downs The AUDUSD is moving back lower in what is a continuation of the choppy ups and downs seen in trading this week (and going back to September 9). The highs for the week were on Tuesday and Wednesday between 0.7337 and 0.7344. The low for the week was

The 0.6780-0.6790 ceiling area was broken but only barely. The NZDUSD traded to its highest level since April 3, 2019, getting above a ceiling area between 0.67803 and 0.6790. That’s the good news for the buyers. The not so good news is that the price can only extend to 0.67969 before rotating back to the

NZD was also strong The yen was the top performer this week while the kiwi lagged. On its face, that fits in nicely with the ‘risk off’ theme but the old risk on/off paradigm hasn’t applied for a long time. Neck-and-neck with the yen as the top performer was the New Zealand dollar. Taking a

National Australia Bank technical analysis on AUD/yen ()note the time scale of the chart – this is a longer-term picture: NAB note the break of the downtrend line but the upside is not yet secured.  The September month-end close is now crucial. Above 77.40/60, MT uptrend confirmation remains in play. Below 75.43 the risk of

Dow snaps 4 day win streak The major US stock indices closed down on the day, but it could have been worse. Then again in could have been better too.   The major indices are closing near today’s the middle of the days trading ranges.  The Dow industrial average was the relative best performer. In fact at 1

S&P index now negative on the day. NASDAQ index with declines the US stocks have slipped into the negative. The S&P index is currently down 3.4 points or -0.10% at 3397.65. The NASDAQ index is down -85 points or -0.76% at 11104. The Dow industrial average remains up by 87 points or 0.32% at 28085.

Dow is up 396 points at session high The US stock markets rolled over into the close with the Nasdaq leading the declines.  The S&P winning streak of 3 days was snapped. The Dow closed higher but gave up nearly all of its close to 400 point gain at the session highs. The final numbers are showing: S&P index -15.71

Less than 25 minutes to go Tomorrow is FOMC day. The Fed is expected to extend the time for the next move given the Chair Powell’s announcement at Jackson Hole virtual summit that the Fed would be using an average of the inflation rate going forward (vs the more static 2% target). The US stocks

The S&P gain closes between the Dow and NASDAQ All the major indices close higher but well off highs and also with differing gains: The Dow and S&P closed higher for the 3rd straight day. The NASDAQ index is on a today winning streak. The final numbers are showing: NASDAQ index up 133.67 points or

Majors indices remain off the highs the NASDAQ index is back up over 2% after correcting lower in the early New York afternoon session. With 15 minutes to go in trading, the NASDAQ is up 223 points or 2.06% at 11077. The high price reached 11118.29. The Dow industrial average is up 376 points or

NASDAQ steps 2 day losing streak The major indices all closing higher. The small-cap Russell index at its best day since July 15 rising by 2.65%. The NASDAQ index snapped it’s 2 day losing streak. All 11 sectors of the S&P index closed higher. The US indices are trying to rebound after back to back weekly

EURUSD above key MAs and trend lines… The EURUSD peaked on September 1 at 1.20105. The move above the key 1.2000 level was short and sweet (only a part of an hourly bar).  Looking at the daily chart above, the subsequent move lower took the price last week to a low of 1.17518. That was

The 100 week MA comes in at 1.27448 The GBPUSD’s high for the week was on Monday at 1.3256. The low was reached on Friday at 1.27614. The high to low trading range was an oversized 515 pips (highest since March 22 week).  The price action was a trend move lower (although Wednesday did close