Little changed on the week In an up and down day, the major indices are ending the session in the red, with modest (near unchanged) levels. S&P fell -2.60 points or -0.09% at 2801.89 Nasdaq fell -5.10 points or -0.07% at 7820.20 Dow fell -6.92 points or -0.03% at 25057.85 The Dow and S&P had
CFTC Commitments of Traders: JPY shorts increase right before a Friday surge Coming Up! Title text for next article Commitment of traders report for the week ending July 17 EUR long 21K vs 24K long last week. Longs trimmed by 3K. GBP short 38K vs 40K short last
10 year yield tests 100 day MA as the yield curve steepens. The US yields are up in trading today with the yield curve steepening for a change. The comments from Trump and Fed’s Bullard have helped. Each are urging the Fed to slow down on the rate rises. That has helped the yield curve
Below an old swing area after waffling above and below this week Adam posted that the CHF is the strongest of the major currencies vs. the USD. The pair closed a week ago around 1.0015. The price is down at 0.9945. That is not a heck of a lot of pips but it was enough
Bullish above/Bearish below 0.6805 area The NZD was the weakest currency yesterday and the NZDUSD tumbled below the low from July 13th. The momentum faded though and the pair started to correct. Today, the USDs fall, has pushed the NZDUSD higher as well. The run higher has helped complete the two-day lap (price back up
USDCAD cracks lower The USDCAD has the combination of better data (CPI and retail sales) and a weaker dollar on the back of Trump and Bullard comments. Technically, the pair has cracked below swing levels in the 1.32078-18 area, the 100 hour MA at 1.3195, the 200 hour MA at 1.31776, 50% and 61.8% retracement.
USD/CAD touches a low of 1.3238 on the day ForexLive Oil is trading at the highs for the day now with WTI crude up 1.43% to $70.45 while Brent is up 1.16% to $73.42. That has put a bid on the loonie which is advancing against the dollar to lows of 1.3238 currently. USD/CAD also
GBP/JPY staying calm for the moment after a dip at the start of the day ForexLive The lows today tested support from the 9 July low and that helped to stall declines seen in the Asian session earlier. Since then, the pair has been holding steady above the 146.00 level after briefly moving towards a
Price action sits between the “goal posts” now ForexLive Buyers are looking to creep back into the picture as price has now moved above the 100-hour MA (red line) @ 1.1665 but there is still work to be done with key near-term resistance levels sitting nearby. The 200-hour MA (blue line) @ 1.1679 and the
Rally helped by Trump of course The NZDUSD has and continues to be the dog of the day. However, the Trump comment pushed the pair up to the 50% retracement of the day’s ranges at 0.6759 (the high reached 0.6761). In the process, the pair moved above the 0.67468-52 area. That has been a swing
Fall from yesterday is fully reversed into a topside trend line The USDCAD has moved sharply higher in trading today. The move reversed the sharp fall yesterday (and a little more), but stalled against a topside trend line at 1.3268. Let’s face it, the price action is a bit skittish. Sharp move higher. Sharp move
It’s all about the greenback again ForexLive The dollar is catching another wave of bids again in European trading – as it did yesterday – and that is sending EUR/USD lower back towards a test of the 1.1600 handle. Yesterday’s low touched 1.1602. The greenback is bid across the board with GBP/USD also falling to
100 day MA just ahead Today, the pair is up about $130 on the day after reaching a high of $7545.00. The run higher is approaching another key technical level at the 100 day MA (see blue line in the chart below). The price has not traded above the 100 day MA since early May.
Stalls on the first look The EURUSD moved above the 100 bar MA on the 5-minute chart, tested it, found buyers and moved higher to the 200 bar MA (green line). That was broken and the price moved even higher. See earlier post. The price is still down on the day, but is eating into
GBP/USD fell to a low of 1.3010 in the aftermath of the report release ForexLive And is hovering nearby currently trading around 1.3015-20 levels. It’s a soft report across the board with upward contribution to inflation coming from fuel and gas (but not as much as expected) while downside came from discounts for clothing, footwear.
Does a lap up and then back down. The NZD core CPI came in stronger than expectations at 1.7% (7 year high) and that sent the price soaring above the 200 hour MA at 0.6792 in the process. The high for the day reached 0.6840, but then started to give up the gains. The fall
EURUSD holds 100 hour MA. GBPUSD bounced higher but has dipped back down The dollar is generally little changed after Powell’s prepared remarks ahead of his testimony on Capitol Hill. The EURUSD traded down to the 100 hour MA at 1.16858 before the report, but has bounced to 1.1695 currently. The 200 hour MA is
GBP/USD rises to a high of 1.3268 on the day ForexLive The data was more or less in line with estimates, but that was basically it. The fact that it is doing nothing to derail the BOE’s rate hike plans in August is in itself good news, as mentioned before the report here. I don’t
Below the 100 hour MA too In NZD, the 2Q CPI will be released after the close, the expectation is for the 2nd straight 0.5% gain (1Q was also up 0.5%). The YoY is expected to rise to 1.6% from 1.1% last quarter. The inflation is still below the targeted rate, but the YoY is
Up sharply vs. July 11th forecast The Atlanta Fed GDPNow forecast for 2Q GDP has been recalculated and it shows a sharp 0.6% gain from 3.9% to 4.5%. Consumer and government spending pushed the forecast higher. The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 4.5
EUR/USD touches a high of 1.1707 on the day ForexLive And the hourly close @ 1.1702 is just above the 200-hour MA (blue line) @ 1.1701 but I wouldn’t say it’s a break just yet. Currently sellers are still defending the level, but buyers sure look poised as the session begins. A move back above
Tough and brutal advice from President Trump Last week during his visit with UK PM May, President Trump said he gave May some advise that she chose not to take with regard to Brexit. I don’t know what the protocol is among world leaders and especially close allies. Do leaders talk off the record? Ask
Closed at $73.80 last week The price of crude oil has settled the day at $71.01. That is up $0.68 on the day or +0.97% The high reached $71.66. The low reached $69.84 For the week, the price is down. Last Friday, the contract closed at $73.80. The low for the week reached $69.23 on
Monday high. Friday low The EURUSD reached a high on Monday at 1.1790. The low today reached 1.16119. That took the price below the July 4th low at 1.1629 but it fell short of the July 2 low at 1.1591. The bounce has seen the price move back toward the 50% midpoint of the move
Fall below 200 bar MA as momentum slowed a bit. Bears cautious on the tilt in bias. Still a strong week higher in the pair. The USDJPY has tilled a little lower technically. The trend had been for traders to lean against the 100 and 200 bar MA on the 5-minute chart. That pattern was
EURUSD and GBPUSD move toward July lows The USD is the strongest and the NZD is the weakest as Friday begins in the NA session. The greenback moved to another new session high today (highest since July 9th) but has returned to just above unchanged. The EURUSD and the GBPUSD moved back toward the lows
The last streak of gains similar to this was back in May ForexLive The dollar sold off yesterday after the release of the June CPI report, but there wasn’t much to be too negative about and buyers lapped up the dips seen and the greenback closed the day on a more positive footing once again.
GBP/USD slips to a low of 1.3160 ForexLive It’s early days in European trading but we’re seeing some flows out of sterling and that is also sending EUR/USD lower on the day. EUR/USD is now at a low of 1.1675 currently while GBP/USD has touched a low of 1.3160. The 4 July low @ 1.3171
Corrects higher but rally stalls where it When you look at the price action in the NZDUSD, the price stalled the fall near a support target area and at the high, the price stalled at a key resistance target. On the downside, the early day fall stalled near swing lows from July 4th and July
Yesterday’s break lower sent the pair lower The EURUSD is back up retesting its 200 hour MA at 1.16937 (green line in the chart below). Earlier in the day the price tested that level and stalled. Yesterday that MA was broken and the price scooted lower. Sellers seem to be leaning once again. Also in