USD/JPY attempts a test of the 100-hour MA ForexLive 10-year Treasury yields are virtually flat now at 3.048% recovering from the lows posted earlier on the back of Italian budget worries of 3.028%. The rebound in yields has seen yen pairs pare some of their earlier losses as well and notably USD/JPY has climbed back
No change expected If the whippy action for the USD is repeated in New Zealand after the RBNZ rate decision, you might want to wait it out. However that does not preclude traders from being aware of the levels that should lead to a more bullish or bearish bias. It will be up to the
EURUSD, GBPUSD, AUDUSD, NZDUSD move to dollar low levels The initial reaction to the dollar is to the downside as the Fed removes the word “accomodative” and that is seen as dovish. The EURUSD hasd moved to a new session high and looks to test the 1.1800-147 area (highs from last week and Monday) .
AUD/USD pares earlier gains from the Asian session, trades near the lows ForexLive But near-term bias remains undefined as price continues to sit between the two key hourly moving averages. The aussie benefited from the kiwi’s spike earlier in Asian trading – as a result of better NZ business confidence – and AUD/USD rose to
Price near unchanged on the day but off Friday high. The AUDUSD closed on Monday near 0.7250. The price is trading around that level as we head into the close. Looking at the daily chart, the high from Friday stalled near a topside trend line at 0.7305. The high price reached 0.73031. Close enough. Sellers
From the UBS sales and trading team Here’s an idea from UBS: Sell a rally in USD/CAD to 1.2975-85, stop above 1.3015, target 1.2900. Here’s a look at the chart with the entry, stop and target with USD/CAD currently at 1.2953 after hitting 1.2973 earlier (just shy of the entry): It’s a reasonable idea, but here’s why
GBP/JPY touches a high of 148.52 on the day ForexLive The key for GBP/JPY buyers now is to hold a break of the 200-day MA (blue line) @ 148.30. Stay above and price momentum turns more bullish moving forward. The pound is one of the key beneficiaries on the day of rising Treasury yields as
Nasdaq erases near 1% declines and closes up marginally. Dow has biggest drop since August 10 Last week, the Dow was the best performing index. The Nasdaq actually fell marginally on the week. Today, there was a rotation out of the Dow stocks and into the Nasdaq. The Nasdaq closed only up 6.295 points at
Bounce off the 100 hour MA spoiled the sellers party The USDJPY is trading to new session highs. The range is still narrow at 35 pips (the 22 day average is 54), but when the price fall stalled at the 100 hour MA below (blue line), the party was over for the sellers. The buyers
Latest data released by the Confederation of British Industry – 24 September 2018 Prior 7 Trends selling prices 13 Prior 15 ForexLive Readings above 0 indicates optimism while below indicates pessimism. The headline is a survey on manufacturers to rate the level of volume for orders expected during the next 3 months. Factory orders slump to
S&P misses out today. Declines. Nasdaq continues its pause The US stocks are ending the day mixed. The Dow sets another record and has the largest weekly gain since July. The S&P and Nasdaq fell. The Nasdaq lagged this week. The closing numbers: The S&P fell -1.10 points or -0.04% to 2929.65 The Nasdaq fell
CFTC commitment of traders: The GBP shorts increase to highest level since May 2017 Coming Up! Title text for next article Commitment of traders report for the week ending September 18, 2018 EUR long 2K vs 11K long last week. Longs trimmed by 9K GBP short 79K vs 61K
Completes the down and up lap today The USDCHF moved to the lowest level since April 10th today. That run moved below a lower trend line on the daily chart (it closed just below it yesterday too) and approached the low from April 10th at 0.9534. The low stalled ahead of that level at 0.95416.
Back below $1200 again. Gold is trading down about -$9 or $10 on the day. That has taken the price back below the $1200 level. We currently trade around $1198 as I type. The price was lower earlier. The low for the day reached down to $1191.95. So there has been a recovery. Prior to
The weakest is not even close. As London traders exit for the day, their currency is worth less by over 1.1% against all the major pairs.That makes it the weakest currency by far vs. it’s peers. The USD is the strongest currency with most of those gains coming on the back of a 1.46% rise
38.2% retracement and 200 hour MA tested. The GBPJPY rallied up to a high of 149.706 in the Asian session. That rise did take the price above a topside trend line. When the break failed late in the Asian session/early European session, the corrective move lower began. Later the 200 day MA at 148.26 and
Topside trend line stalled the rally earlier The USDJPY consolidates between a topside trend line on the hourly chart (there was a small break earlier but that was quickly rejected), and the the high from yesterday at 112.577. Earlier in the Asian session, the price action continued the run higher from yesterday’s NY session.
A softer tone off the two month high. The GBPUSD reached a 2 month high yesterday near the 1.3300 level. That level was between resistance targets between 1.32925 and the 38.2% retracement of the 2018 range at 1.33163 (see yellow area in the chart below). The price moved away from the 100 day MA at
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Trades at session highs. Risk is limited for a correction. The NZD is the strongest currency today and the NZDUSD has moved up over 1% on the day (up 1.07% vs the USD today). Technically, the pair has been tracking higher and higher with modest corrections. If you look at the 5-minute chart, the pair
German Dax up 0.9%. UK FTSE up 0.5%. France’s CAC up 1.1% The European stock markets are closed and the major indices are closing higher: German Dax up 0.9% France’s CAC up 1.1%. UK FTSE up 0.5% Spain’s Ibex up 1.1% Italy’s FTSE MIB up 0.51% Portugal’s PSI20 bucked the bullish trend and closed down
EUR/CHF climbs back above 1.1300 ForexLive The SNB offset the fact that it maintained the language on the Swiss franc as “highly valued” by lowering its inflation forecasts for 2019 and 2020 while also putting a mildly softer spin on economic growth saying that “the pace of growth is expected to slow slightly”. So far,
There was more than Tilray today Enough about Tilray (for now). The major indices are ending the day mixed. The Dow was the best performer. The S&P was modestly higher. The Nasdaq was modestly lower. The S&P closed up 3.64 points or 0.13% at 2907.95. The high reached 2912.36. The low extended to 2903.82 The
The break quickly reversed. The GBPJPY has been running higher since bottoming in August at 139.89. The high today reached 148.52. That is a 6.17% run up in about a month of trading (963 pip move). Not a bad run. Technically, the high today was able to break above the 50% retracement AND the 200
GBP/USD breaks above the 1.3200 handle ForexLive The spike to the upside touched 1.3215 and that’s the highest level the pair has traded since 17 July. Right now, there is minor resistance to come from the 26 July high @ 1.3213 but in from a technical perspective this will look more like a speed bump
Nasdaq up 0.76% The US stocks are ending the day with gains but there was a bit into the close. The S&P is ending up 15.51 pointsor 0.54% at 2904.31. The high reached 2911.17. The low extended to 2890.43 The Nasdaq rose 60.314 points or 0.76% at 7956.10. The high was 30 points higher at
Back above 50% retracement on the daily chart. The USDCHF cracked below the 50% and trend line yesterday. It closed below those levels as well (around 0.96267). The pair extended lower in trading today (low reached 0.9599 – call it 0.9600), but the price has shot back higher on the dollar buying in the NY
The loonie gains on the back of higher oil prices ForexLive And that sees USD/CAD touch a low of 1.3013 on the day, testing the 100-hour MA (red line) at the moment. Move below and near-term bias turns more bearish. But the key here is to hold a firm daily close below the 1.3000 handle.
Nasdaq down -1.43% and leads the downside The trade tensions with China look like they about to intensify as Trump is set to announce new tariffs on China “after the close”. China has said they would look to retaliate and that sent the likes of Apple lower on retaliation fears (down -2.66%). Amazon was also
Corrective rally stalls The USDCHF is one of the weaker currencies of the day, and in the process has moved below the 50% retracement at 0.96267 and a lower trend line at 0.9629 area. The price just corrected of the day lows (of 0.9611) and reached 0.96297 – less than a pip above the broken