Technical Analysis

NASDAQ recoups 1.25% The NASDAQ index yesterday took on the chin with a decline of -2.14%. Today the index recouped 1.25% of that decline but it could’ve been better. The index was up as much as 1.78% intraday. It is closing up 1.25% on the day. Some highlights: Dow industrial average recouped all of the

Modest gains after yesterday’s sharp declines The major US indices fell sharply yesterday with the NASDAQ leading the way to the downside (the index has been down six the last seven trading days).  The NASDAQ fell by -2.14%. The S&P was down by -1.3% and the Dow shed -0.54%. Today, in the first few minutes of trading, the major indices are

Nasdaq lower for the 6th time in 7 days.   The major US indices are ending sharply lower with the brunt of the damage done in the Nasdaq index.   The NASDAQ closes at its lowest level since June 22 The NASDAQ is down 7.5% from its all-time high The S&P index is closing  5.40% from its all time

Price of the GBPUSD is up for the 3rd consecutive day The GBPUSD pair is trading higher for the third consecutive day. In the process the pair has moved above the 50% midpoint of the last trend move lower from the September 23 high at 1.35805 and the falling 200 hour moving average at 1.35925.  The price last traded above the

Price is higher on the week The AUDUSD closed last Friday at 0.7250. The price is currently trading at 0.72618 for a gain currently up about 12 pips on the week.  The move to this level, has seen the AUDUSD  move higher on Tuesday to the high for the week at a 0.73104.  The pair joined  the dollar bull

Buyers into the London close keep the hopes for a rebound in play The GBPUSD moved above the 100 hour MA earlier in the US session and after some up and down price action that saw the 100 hour MA retested, the buyers held the support and has pushed to a new session high as

100 hour moving average at 0.692964 the NZDUSD The NZDUSD has extended its move to the upside and in the process has moved above its 100 hour moving average at 0.69296. Staying above that level now will keep the buyers more in control at least in the short term.  Having said that, the 38.2% retracement of

Up $0.85 or 1.13% The price of WTI crude oil futures are settling the day at $75.88. That is up $0.85 or 1.33%. The high price for the day reached $75.99. The low price extended to $74.23. A week ago the price closed at $73.98. The low for the week was reached on Thursday at

Dow up over 700 points at the session highs The major US indices close sharply higher on the first day of the new trading month/new trading quarter with the NASDAQ index snapping a five day losing streak.  Shares of Merck surged 8.6% on the back of a Covid drug that cuts hospitalizations by 50%. Transportation stocks

A start of a new month but it is a Friday The GBP is the strongest and the USD is the weakest as the NA session begins. It is a new month – good riddance September/hello October – but it is a Friday which can have some volatility. US stock futures are pointing marginally higher

Price settles at $75.03 after trading as high as $76.07 The price of WTI crude oil futures are settling at $75.03. That is up $0.20 or 0.27%. The high price reached $76.07 but came off after report from OPEC+ that they may look to increase production at their upcoming meeting.  That sent the price back down

The USD is mixed. The AUD is the strongest and the EUR is the weakest as the North American session gets underway. The USD is mixed today after yesterday’s move higher which took the greenback to the highest level YTD. The EURUSD has continued its run to the downside (higher USD in the process) with

White House comments from Press Secretary We are at a precarious, important time discussions on legislation White House team, Biden will be working around the clock on talks with lawmakers it has the sense that Sen. Sinema does want to see a reconciliation bill Sen. Sinema is a key democratic senator who like Sen Manchin is more moderate

Trades below the August low at 1.1634 It was not a clean break and run, but the EURUSD has moved to a new low for the year after spending a few hours today breaking, then failing, then breaking over a 4 hour period in the European session. The old low was 1.1634. The new low

S&P index down near 2% the major stock indices are moving to the downside going into the close. The Dow industrial average is down 561 points or -1.61% at 34310.54. The S&P index is down 88 points or -1.99% 4354.66. The NASDAQ is index is down -408 points or -2.73% 14559.  For the S&P index

Higher yields. Lower stocks.  China growth slowdown. Fed Chair testifies. The USD is the strongest followed closely by the EUR, and the NZD is the weakest as the North American session begins.  US stocks are down sharply and are heading for a September loss that is the biggest since October 2020.  Natural gas prices are up 8.22%.. WTI crude

NASDAQ falls -0.52%. Dow posts a four day win streak The major indices are ending the day with mixed results. The Dow is higher on the day and has posted a four day win streak. The the NASDAQ index is down for the second consecutive day. The S&P index snapped its three day win streak. The final numbers are showing:

USD/JPY closes in on 111.00, its highest since 6 July The pair was already knocking on the door of a break higher earlier in the day and we’re starting to see that come around in European morning trade.Invest in yourself. See our forex education hub. A daily close above the resistance region of 110.60-80 would