Low from Feb 9, 2018 reached 2532.69 The S&P index is down -61 points now and traded to a low of 2536.23. That is within about 4 points of the February 9 low price of 2532.69.  A move below that level will look toward the 50% retracement of the move up from the November 2016

The USDCHF trades at session low As the North American session begins for the week, the CHF is the strongest (flight into the safety of the CHF perhaps with Brexit and other geopolitical concerns). The USD is the weakest.  Looking at the changes and ranges, the USDCHF and EURCHF are trading at the session lows. 

A chart from GS on WTI as the oil price is setting off into the new trading week with a bit of a slide here in Asia Comments accompanying the chart (in brief): Oil has breached 51.67 interim high from June 2016 Contact with 51.67 diminishes any possibility that this might be a 4th of

How do they leave it for the week? The European stocks ending the day with declines for the day. In fact, they never traded in the black.  Having said that, they did recover off of lower levels. They were still down, but not so negative. For the US, as London/Europe exit, the US indices are

Trend line and swing area being tested The USDJPY has tilted lower in the current bar after a try higher stalled out.  The pair is down testing a trend line on the hourly chart and a swing area from this weeks trading at the 113.48-517 area.  A move below would be more bearish. Stay above,

The pair makes a break outside the box Looking at the hourly chart for the AUDUSD, the pair has been trading in a box going back to December 5th.  The buyers tried to take control yesterday. The price moved above the 100 day MA (at 0.7224 today) and even took out the highs from Dec

Strong data out of the US The EURUSD has moved to new session lows after some pretty decent retail sales data.  The headline numbers beat expectations with the control group up a strong 0.9% after a 0.7% revised gain in the prior month (from 0.3%).   Looking at the daily chart above  the EURUSD is trading

The USD is stronger as global risk flows head to safety Overnight, China retail sales were the worst in 15 years and that has spooked the stock markets again.   As a result, the flow of funds is heading to the safety of the JPY and USD (strongest) and out of the AUD and NZD (weakest

GBP/JPY touches a low of 142.61 on the day ForexLive Price is now leaning on support from the September lows @ 142.60 after buyers failed to firmly take out the support-turned-resistance level from the 28 June low @ 143.78 over the past two trading days. It’s a bit of a double whammy for GBP/JPY today

EUR/USD falls to a low of 1.1309 ForexLive If the ECB was hesitant to change its risks outlook from “broadly balanced” to “tilted to the downside” yesterday, there’s more reason for them to consider doing so now after the numbers here. Yes, sure these are just survey data but the trend doesn’t lie. The downwards

GBP/USD is threatening a break of the 100-hour moving average ForexLive The pair falls to a session low of 1.2591 as the pound is losing some ground while the dollar is also advancing across the board. The greenback has worked its way to session highs for the day now after weak French data is compounding

Time for a check on consumer health It’s a critical time of year for the US consumer and with markets already in a delicate spot, upcoming data is especially critical. The November US retail sales report is due on Friday and expected to rise 0.1% compared to a 0.8% jump in November. One thing that will

Oil up 2.7% today WTI crude is up $1.40 to $52.55 today in part due to reports that Saudi has cut exports to the US scheduled for January. In the bigger picture, there isn’t any reason to be particularly optimistic but there are some signs of a bottom; or at least a temporary one. Daily

Price currently leans on support from the 100-hour moving average ForexLive EUR/USD was trading steadily around 1.1380 levels before the headline here briefly brought it lower to 1.1367. But price is finding some support at the lows for the day as buyers are leaning on the 100-hour MA (red line) @ 1.1371 to keep up

Can you trust it? The EURUSD has been choppy up and down during most of the NY session with an upward technical tilt. The price has stayed/closed above its 200 hour MA (green line) over the last 7 trading hours, but in between there have been ups and downs.  The high from the day reached

Down -$.50 or -0.97% The crude oil futures have settled the day at $51.15. That is down $.50 or 0.97%. The high-priced reached $52.88. The low extended to $50.94. Today, crude oil inventories had a draw of -1208K vs -3500K estimate. The private data released yesterday showed a massive draw of -10180K.   Technically, the price

NZD/USD now leans on support from the 200-day moving average ForexLive The pair posted a high of 0.6900 on the day in Asian trading as risk sentiment improved but then has been on a continued track lower since. As we began the session, the pair was trading around 0.6880 but has now fallen to lows

Hard to get in the way The GBPUSD is trading at new 20 month lows as it seems likely that a no-confidence vote will be eminent.  It is hard to get in the way of such news, but it is no surprise now.   Technically, a lower trend line on the hourly chart comes in at

Up $.65 or 1.27% The price of crude oil futures settled at $51.65 in trading today. That was of $.65 or 1.27%. The high reached $52.43. The low extended to $50.70. Looking at the hourly chart below, the price traded above and below the 100 and 200 hour MAs at $51.96 and $52.11 respectively. Although

GBP/USD rises to a high of 1.2606 on the day ForexLive Cable is now testing the 38.2 retracement level @ 1.2604 of the decline yesterday as May sets out to Brussels later to meet with Juncker and Tusk. She is believed to seek legal assurances on the backstop so as to confirm that it won’t

Down -$1.61 or -3.06% The price of crude oil settled at $51.00 today (on the screws). That was down -$1.61 or -3.06% on the day. The high price today reached $52.81. The low fell to $50.74.     Technically, the price fell back below the 100 and 200 hour MA at $52.33 and $52.11 respectively. The

It’s been a rough year for Deutsche Bank Ok, here’s the headline. The chart for Deutsche Bank looks similar to Lehman Brothers in the way that all charts that move from the upper left to the lower right do. What I have to point out is that DB has fallen to $8.35 from $19, which

Is May going to pull the plug on tomorrow’s vote? GBP/USD falls to a low of 1.2692 and is now holding just above the 1.2700 handle as it stays supported from the Thursday low at the figure level. Various sources are confirming that Theresa May has called for an emergency Cabinet meeting, suggesting that it

Up from last week’s end of week settle at $50.93 The price of crude oil futures are settling the week at $52.61. That is up $1.12 or 2.18%. The high price today reached $54.22, while the low extended to $50.60. OPEC and Non-OPEC members agreed to 1.2 million barrel per day cut in production.  The

100 hour MA at 52.60.  200 hour MA at 52.05 The price of crude oil futures have moved down about $1 in the last hour and -$1.25 from the high.  There is nothing on the newswires in the last few minutes. The fall takes the price down to the 100 hour MA at $52.68. Below

Gold up $9 Gold is once again above the October high as it closes out its best week in seven weeks. I highlighted $1243 yesterday as a level to watch on the close. Today’s close is even more important because it represents a weekly close as well. Here are 7 ways the stars are aligning

The 1.2698 area is now eyed The GBPUSD is getting hit and trades at the lowest level of the day.  As per the previous post, the price fell to a trend line, stalled at that level and rebounded up to to the 200 hour MA.  Sellers leaned there and have now pushed below a lower

Can the selling get below the key 200 day MA. The NZDUSD has moved below a neckline on the hourly chart at the 0.6860 level.  At that level is also the 50% of the move up from the November 23rd low.    Below those levels is another target at 0.68517 where the 200 day MA

German Dax ends lower The European shares are ending the session with gains with the exception of the German Dax.  That’s the good thing. The bad thing most of the major indices ended near the lows for the day. The chart below is a snapshot of the ranges and closes for the major indices (and

Dow moves down over -400 at lows. Nasdaq down -1.70% The US stocks are trading to new session lows as trade concerns weigh again.   For the Nasdaq, the index yesterday corrected up to between the 100 and 200 hour MAs (blue and green lines).  Today after an early run higher, the price action took