50% and 200 hour MA key levels to get through for the bulls The Nasdaq index has moved to a high today of 6855.59 today. We currently trade off that level at around 6820. That is still up about 83 points or 1.20%. Technically, the move higher extended above its 50% retracement of the
Moving above the 100 day MA Here is what has happened: The 50% held at the 1.1452 level. The price has moved higher. We currently trade above the 100 day MA by a few pips. Can the momentum keep moving. It should. The sellers have not been able to take control. The buyers remain in
USD/JPY price action remains “trapped” so far today ForexLive It’s a bit of a tricky situation for USD/JPY to start the week. On the one hand, equities sentiment is holding up a tad better. On the other hand, the dollar is softer as markets continue to weigh Fed chair Powell’s dovish remarks from last Friday.
Government researchers say we’re near the end China’s population will peak at 1.44 billion in 2029 and then start a long period of ‘unstoppable’ decline the following year according to new research from the government. In the latest edition of the “Green Book of Population and Labor” from the China Academy of Social Sciences the
Nasdaq up 4.26%. S&P up 3.43% It was a huge day for stocks today as the jobs report and a more dovish/less hawkish Powell ignited a rally. In addition, some technical levels were taken out including the 100 hour MA for the S&P (see posts). The final numbers are showing: The S&P index rose 84.05
100 hour MA broken. 200 hour MA tested The price earlier tested the 100 hour MA earlier and after a respectful stall for an hour or so, the price broke above the level. The next target was the 200 hour MA at 77.259. The high reached 77.248 and backed off. What makes this area potentially
Trades to new session highs The AUDUSD moved sharply higher with the dollar selling today. The price moved above it’s 100 bar MA earlier by a few pips. Backed off, but is back above the MA level. Buyers are trying to give another bullish push. Below is the 4 hour chart. The flash crash made
Not running higher or lower at the moment The EURJPY and USDJPY have similar charts. Both fell on the flash crash and have been ratching higher over the last two days. Looking at the EURJPY, the low in the NY session stalled right at a lower trend line. Above the pair targets the 50% retracement
Lower dollar/more dovish Powell and strong NFP helping stocks The S&P (and other indices) remain near highs and up sharply. A lower dollar, more dovish Powell AND strong job growth is the formula for the gains. The price of the S&P has been able to move above the 100 hour MA in the process. That
Latest data released by Istat – 4 January 2019 Prior -0.2% CPI +1.1% vs +1.5% y/y expected Prior +1.6% ForexLive Poor showing in terms of the headline annual estimate but the focus is on the Eurozone figures released at the same time. The release here feeds into that so there isn’t much else to gather
Nasdaq falls -3% It was another ugly day for stocks as the Apple news after the close on sharply lower revenues shock the confidence from the market. The final numbers are showing: The S&P index fell -62.14 points or -2.48% at 2447.89 The Nasdaq index fell -202.43 points or -3.04% at 6463.50 The Dow fell
Stalls as trader lean against the risk defining level. The underside of the broken trend line outlined in an earlier post as a key target (CLICK HERE), seems to have attracted some selling as traders leaned. Risk could be defined and limited against the level. Going forward, the question for traders is can the price
EUR/USD highs currently capped by 38.2 retracement level ForexLive While the focus of the currencies market has been on the flash crash, EUR/USD continues to do its own thing by ranging between the 1.13 and 1.15 handle still. The price action from the highs yesterday and the lows today exemplifies that trading range that has
AUD/JPY rebound extends It’s a times like these that I think Fibonacci retracements work best. They’re a good way to control risk in the madness and the 61.8% level often determines whether we see a full retracement or fresh lows. At the moment, AUD/JPY is up to 74.50 which is above the 61.8% retracement no
Still down on the day but making progress The USDJPY has extended to a new NY session high at 109.42. In the process, the pair has moved above and away from the 200 bar MA on the 5-minute chart at 109.235, and above the 50% retracement at 109.209 (the market has based against that midpoint
The PMI prints from Europe today aren’t helping the euro’s cause ForexLive EUR/USD was knocking on the door of key resistance levels earlier before equities sentiment deteriorated further and Eurozone PMI prints did little to lift the doom and gloom rhetoric that surrounds the economy as we look ahead this year. That sent the pair
Up $0.08 or -0.18% It’s a wrap for the crude oil market in 2018. The contract is settling the day at $45.41 or -$0.08 or -0.18%. The low reached $44.73. The high extended to $46.53. For the year, the price of crude futures fell 24.8% from the 2017 close. That is a big loss in
Gold is always a great way to start the year One of the best seasonal trends in any market is already under way. I’ve written about it year after year after year and it keeps delivering. There is a major tailwind for gold early in the year, likely due to buying ahead of lunar new
Dallas-area manufacturing survey Prior was +17.6 And that’s your final US economic data point of the year. It’s a huge miss. The regional manufacturing numbers in December have been all over the place. Richmond was also a big miss, which the Chicago PMI was much stronger than expected. For this one, it says less about
A snapshot of the strongest and weakest A look at the strongest and weakest currencies on the last day of the calendar year is showing that the GBP is the strongest, while the NZD is the weakest. The USD is mixed with declines vs the GBP and JPY and gains vs the NZD and CHF.
A hint of caution again, perhaps? ForexLive Equities are still doing decently for the most part – spurred by Trump’s upbeat comments over the weekend – with European equities trading marginally higher while E-minis are trading 0.8% up on the day so far: US 10-year Treasury yields are also flat on the day at 2.721%
Oil is up 1.5% on the day but will end the year lower for the first time since 2015 ForexLive Oil’s rise higher today is helping to give the loonie an added boost as well with USD/CAD lingering near session lows at 1.3613 at the moment. The loonie is the second-best performing major currency today.
Rises above 100 and 200 hour MAs at 3763.69 and 3874.56 respectively The price of bitcoin has shot up about $300 over the last few hours after stalling ahead of the 61.8% of the move up from the Dec 18 low. The move has moved the price back above its 100 and 200 hour MAs.
Trend line and 100 hour MA are topside stall points The USDJPY stalled a topside trend line at the end of yesterday. That trend line comes in at 110.83. Just below that level is the 100 hour MA at 110.791. The price over the last few days has traded above and below that MA over
Its a mixed up picture in the currencies European shares have bounced and US shares are pointing toward cautious gains, yet the CHF remains the strongest currency. Normally the CHF is a safe haven in times of trouble. The JPY is also stronger today. Traders tend to buy JPY in rough times too. Do the
USD/JPY touches a session low of 110.35 ForexLive Risk isn’t really souring any further on the day as European equities are still playing catch up to overnight US equity gains while E-minis are trading about 0.2% lower currently, little changed over the past few hours. However, the yen continues to push higher as cautious sentiment
Dow swings 700 points The US stocks have erased big declines with the S&P and Dow moving into the black. The Nasdaq did move positive but is trading down -25 points. The Dow has seen a 700 point swing from low to high The S&P was down at 2397 and traded up to 2482. With
Watch out for stops in AUD/USD The Australian dollar is in danger of falling to a fresh cycle low. A drop below 0.7021 would take out the October low and mark the worst level since February 2016. The low so far is 0.7024, so we’re dangerously close to a breakdown and it will be coming
Up and down price action over the last few days The EURUSD has seen up and down price action over the last few days after a run lower on Monday. The last two trading days has seen the 100 hour MA (blue line at 1.1404) act as a stall point on rallies. The 38.2% is
Canada returns from holiday today Canadian markets were closed on Boxing Day but will reopen today. That will give Canadian traders an opportunity to react to the madness in markets this week. Oil ripped higher yesterday but is back down today. WTI fell as low as $44.92 but has rebounded to $45.58, up 65-cents on