EUR/USD has been marked down to a low of 1.1193 from around 1.1210 The bid in the greenback comes alongside a move higher in the yen as well with USD/JPY inching lower to 110.65 currently. EUR/USD is nearing session lows now as price tests the 100-hour MA (red line) as buyers will now have to
Continues in late day trading The price of crude oil settled the day at $62.25, up $0.31 or 0.5%, and is extended even higher in after hours trading. The price is up to $62.74, up $0.79 and in the process is above the 100 hour MA at $62.43 and the 38.2% retracement at $62.55.
Above the 100 hour MA The EURUSD moves to new session highs, surpassing the 100 hour MA and 50% retracement in the process. The move is following some weakness in the dollar vs the JPY, the CHF, the CAD. The GBPUSD remains off the lows as well (but still below the 1.3100) level. The
EUR/USD opened with a gap lower before recovering to near 1.1200 ForexLive Escalating trade tensions saw the dollar bid in early trades with the pair slumping to a low of 1.1159 after opening with a gap lower from Friday’s close. But since Asian trading, the pair managed to fill the gap and rise to a
Up $0.13 on the day or 0.21% The price of crude oil is settling the day (and week) at $61.94. The high price today reached $62.52. The low extended to $61.30. The contract rose $0.13 or 0.21% on the day. Technically, yesterday the contract stalled at the 200 day MA. That comes in at $60.95
Last 3 hours consoldates the EURUSD gains The last 3 hours of trading in the EURUSD has seen the pair consolidate with the 200 hour MA (and 50% of the week’s range) as the ceiling at 1.11958-993, and the 200 hour MA (and 38.2% of the week’s range) as the floor at 1.1182-84. The pair
Moved up over 100 points at the high. Up over 1% on the day The Nasdaq moved up over 100 points on the day at the high. That high reached 8142.58. That is getting closer to the all time high price at 8176.08 from Monday, and the highest close at 8161.85. The price has come
Midpoint and trend lines at the 1.3119-25 area The GBPUSD continues its run higher with the pair looking/well now testing the 50% retracement of the move down from the 2019 high. That comes in at 1.3122. Swing levels and the high from April 12 (at 1.3132) are also in the area.. We just traded to
ISM Non-manufacturing data Despite the 263K job gains and 3.6% unemployment rate, the dollar weakened. Now the non-manufacturing data has come in weaker than expected which gives a weaker economic reason to sell the dollar. US yields are moving lower with the 2 year down -2.4 bps and 10 year yields down -2.2 bps now.
Low stalled at 50% and 100 day MA area. The GBPUSD is trading at NY/London session highs after the low off the employment report stalled at the 50% and 100 day MA near 1.2980, and the pair has moved back above the 100 hour MA at 1.30154. The pair is looking toward the day high
Below the 200 and 100 hour MAs now The USDCAD has dipped below its 200 and 100 hour MAs at 1.3450 adn 1.3439 respectively. Stay below that area (beloow 1.3450) would keep the sellers in control. Having said that, the 1.3430 is a floor that needs to be broken to solicit more selling. That for
GBP/USD heads towards a test of the 100-hour moving average ForexLive The dollar is firming across the board and extending the trading ranges on the day but notably, cable has fallen from 1.3030 to a low of 1.3015 on the day. Price is now closing in on a test of the 100-hour MA (red line)
Down -$1.79 or -2.81% The price of crude oil tumbled lower in trading today, reaching its 200 day MA (green line in the chart below) in the process at $60.98. At that level, buyers leaned (profit takers and low risk buyers), and the price decline stalled (the low was actually at $60.95 – close enough).
Trend line and low from April 23 stalls the fall The price of gold has moved lower in trading today. It currently trades around $1270 (down $-6.80) after falling to support at the $1266.40 area and finding dip buyers. At that level, the low from April 23, and trend line support at $1266 stalled the
GBP/USD touches a high of 1.3075 on the session ForexLive Price manages a bit of a double-bottom pattern earlier today close to 1.3040-45 and is now working its way back up again as buyers remain in near-term control of the pair, with price holding well above both key hourly moving averages. For buyers, they will
Testing the 200 hur MA at 1.01843 If the USDCHF is to run into resistance it is at the 200 hour MA at 1.01843. That MA was broken earlier in the day and sent the price tumbling lower. We are back up retesting the same MA. Sellers should lean against the area with stops above
Looks toward 50% retracement at $62.40. The price of crude oil has dipped below the $63.00 level to a fresh day low at $62.80. The contract has key support near the $62.40 area. That level corresponds with the 50% of the move up from the March 29 low. THe low from April 26 reached $63.28
GBP/USD moves to a session high of 1.3059 ForexLive Markets are still relatively steady but pound buyers are looking to continue their run from yesterday with cable having securing a break above key resistance levels. Of note, cable buyers took out the 200-hour moving average, the 100-day moving average (red line), the 200-day moving average
Watching 8115 above and 8050 and 8031 below. Here is why… The Nasdaq index is the worst performer today. It is currently down -62 points or -0.77% at 8098. The low was down at 8050.55. The high reached 8124.60. Looking at the hourly chart below, the index fell below a trend line at 8115 currently.
Up and down session for the pair The AUDUSD is trading near lows once again. The USD stocks are lower and that may be contributing to a risk off sentiment. Overnight, China PMI data disapointed which has helped to pressure the pair today. Technically, the pair is tickling the 100 hour MA for the third
The yen strengthens slightly ahead of European trading ForexLive Perhaps global growth worries are beginning to creep in after weaker-than-expected Chinese data helped to sap market confidence a little earlier today. But the yen is quietly gaining as we enter the European morning with USD/JPY falling to a low of 111.48 and is leaning against
EUR/JPY up 55 pips today EUR/JPY longs are the top trade today as the pair benefited from a technical backstop at the March lows just under 124.00. The pair is up 54 pips to 125.00. It’s the second day of gains after a three-day slump last week. In the bigger picture, the yen crosses are
USD/CAD touches a high of 1.3473 on the day ForexLive It’s a slow and steady climb for USD/CAD in the session as price moves back above the 100-hour moving average of 1.3465 to now establish a more bullish near-term bias once again. Of note, buyers leaned on support from the daily swing region around 1.3445-50
EUR/USD sits a little higher but in a narrow range for the day ForexLive The pullback from Friday came after the release of the US Q1 GDP report which showed some murky details about the US economy but even so, it’s hard to really build a solid argument of a major reversal at this stage.
Down $1.91 or 2.93% The price of crude oil futures assuming we get $63.30. That is down -$1.91 or -2.93%. The high for the day reached $65.18. The low extended to $62.28, in For the week, the price moved higher from the $64.00 closing level from last week, and topped at $66.60 on Tuesday. Wednesday
Trading near the lows despites oils tumble Oil is tumbling (see Adam’s post here), but the CAD is holding in. In fact, it has moved higher higher (USDCAD is lower). What now? Looking at the hourly chart, the pair is testing the lower channel trend line that can be interpretted as a bull flag. The
Tests 50% retracement The GBPUSD has moved to a fresh session high and in the process moved above the next key target at the 100 hour MA (at 1.2933). The 50% retracement at 1.29417 is being tested now. In an earlier report, I commented that the 1.2900 level might be a level to lean
When a broker is questioned, it is not good news for digital currencies Eamonn was all over a story in the WSJ that iFinex (operators of the Bitfinex cryptocurrency exchange and owns Tether) has been accused of covering up missing funds. That helped to send the digital currencies lower (including Bitcoin and Tether). When
Up $8 on the day The price of gold is moving higher on the back of a weakening dollar today. Looking at the hourly chart below, the precious metal tumbled lower after the US GDP report (and initial run higher in the USD) but has reversed course and trades at the highest level since April
Shares break major support Tesla is an epic battle between bulls and bears that has been unfolding for years. Elon Musk is either a genius or an unhinged fraudster as both sides have increasingly dug in. However Musk has slowly lost credibility by over-promising and under-delivering. Now the market is losing faith. The chart tells