Trading back above the 200 hour MA As the EURUSD breaks above the 200 day MA for the first time since May 2018, the EURJPY is also having a strong move higher today. That move came after trading to a new low since June 3. The move higher has taken the pair above its 100
What were the biggest market movers this week The US dollar was beaten up this week on the dovish turn from the Fed. It wasn’t the only central bank that pointed to more easing and the outsized move reflects just how crowded dollar longs have become. The winner this week is the funder — the
June 7 high at 1.13469 and 200 day MA at 1.13508 still above.. The price of EURUSD just reached to the lower highest high for June at 1.13431. The high just reached 1.13432. The June 7 high at 1.13469 remains above and so is the KEY 200 day MA at 1.13508. (see earlier posts today
Jeff Gundlach thinks it is Fledgling bond king Jeff Gundlach tweeted about the US dollar index late yesterday, saying it was the moment of truth as it flirted with the 200-day moving average. it’s continued modestly lower today but hasn’t yet broken the June low. Technically, this truly is a ‘moment of truth’ because the
Hu Xijin, editor in chief of the Global Times tweets Hu Xijin, the editor-in-chief of China’s Global Times, is tweeting that China is concerned about the fairness of a trade deal the US. He tweets: I hope there is not a scenario where in order to progress China has to remove all retaliatory tariffs (from
Actually moved from 1.36% to 1.39% but rounded it remains at 1.4% The NY Fed GDP Nowcast estimate for 2Q GDP remains unchanged at 1.4% in the current week. Below are the contributions and subtractions from the data over the last week. They also estimate the Q3 and that has fallen to 1.3% from 1.7%
200 day MA in the EURUSD is also in traders sites Looking at the hourly chart above the 1.13057-081 has had some action against the area going back to June 5 (see red circles), but there have been a couple breaks of that area this week that could not be sustained as well. We are
According to the latest headlines crossing the news wires, United States Vice President Mike Pence said that he had decided to postpone the policy address on China amid ‘positive signs of progress.’ Stock markets seem to be reacting positively to these remarks. The Dow Jones Industrial Average and the Nasdaq Composite indexes, which started the day
Dip held the 107.38 In an earlier post, I outlined the 107.38 level as a support level. It was where an old trend line on the daily came in today. Watch 107.38 below for clues (look for buyers against that level – a move below is not that great for buyers) . A move above
Gold prices are up more than 4.1% this week and for a fifth consecutive weekly advance in XAU/USD. The rally marks the largest single-week advance since April of 2016 with price now probing a key resistance zone at fresh five-year highs. These are the updated targets and invalidation levels that matter on the XAU/USD weekly
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GBP/USD touches a session low of 1.2662 ForexLive The dollar is putting up a steady front in trading today as it is extending its advance against the likes of the pound, aussie and kiwi on the session. Even USD/JPY is testing session highs currently just above 107.50. There isn’t any notable headlines to cause the
How much is too much? This is one of those frustrating questions to answer because there are not an evenly distributed assortment of trading opportunities. Some weeks have more obvious trading opportunities than others. This means that in theory you can keep taking the trades as long as they present themselves. However, this can also
Escalating geopolitical tensions added to the post-FOMC selling pressure. A modest USD rebound helped ease the bearish pressure, at least for now. The USD/JPY pair managed to reverse an early dip to fresh multi-month lows and is currently placed at the top end of its daily trading range, around the 107.30 region. The pair added
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Tokyo’s main index falls back below its 100-day moving average ForexLive Asian equities aren’t taking much comfort from the fact that the S&P 500 recorded an all-time high overnight as stocks are on the back foot for the most part in trading today. It could be a bit of profit taking following a solid week
GOLD & CRUDE OIL TALKING POINTS: Gold prices surge to 6-year high as Fed rate cut bets continue to swell Follow-through may be fleeting as haven demand buoys the US Dollar Crude oil prices may turn lower on downbeat Eurozone, US PMI data Gold prices have surged to a six-year high, building on a move
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Kim Jong Un and Xi Jinping agree North Korea and China need to work together in face of changing international environment Kim Jong Un and Xi Jinping agreed to have close strategic communication and deepen cooperation in various fields KCNA (NK state media) report on the meeting between the leaders of NK and China). I’m gonna
The South China Morning Post have reported on a UN excoriating 100-page analysis, where the UN’s special rapporteur said that the death of journalist, Jamal Khashoggi, was ‘an international crime’, citing ‘credible evidence’ that Saudi crown prince Mohammed bin Salman could be liable for the killing. “The report used recordings of conversations from inside the Istanbul consulate where Khashoggi was killed
Middsy swoon threatened the record close, but recovered on the dip A midday comment by Pres. Trump that we’d see the response to the Iran drone bombing soon, sent the stocks to lows for the day on fears of a military response. In the process, the price of the S&P felll back below the record
BUp $2.89 or 5.38% The price of crude oil settled at $56.65. That is higher by $2.89 or 5.3%. The downing for a US drone by Iran, sent the price higher on the increased tensions in the Middle East. The high reached $57.02. The low fell to $54.11. Technically, the pair has been able to
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US drone shot down today Iran shot down a US drone over the Strait of Hormuz today. Iran says its airspace was violated, the US says it wasn’t. Trump tweeted that Iran made a big mistake. The White House is meeting on Iran on what to do next and oil is up 5%. The US
The USD/CHF pair struggled to find any buyers and continued losing ground through the early North-American session, hitting fresh five-month lows in the last hour. The pair’s inability to find acceptance above 200-day SMA reaffirmed the recent break below a medium-term ascending trend-line – extending from Feb. 2018 swing lows. The pair has now dropped
Gold Price Outlook Talking Points: Gold Price Breaks Out to Fresh Five-Year-Highs It’s been a busy past 24 hours across global markets, and perhaps no single area shows the intensity of the scenario as well as Gold prices. While US stocks rallying to fresh all-time-highs the day after the Fed is noteworthy, Gold prices have
The pair is up by nearly 0.7% on the day as the dollar holds weaker ForexLive The pair just touched a session high of 1.1304 and buyers are looking to extend gains after seizing near-term control earlier in the day. Of note, price has also moved back above the 100-day MA (red line) @ 1.1262