Technical Analysis

Technical selling as to the move to the downside The NZDUSD moved sharply higher yesterday and in the process trended above the 100 hour moving average (blue line), the 200 hour moving average (green line) and 100 day moving average, and above a swing area near 0.7075. The pair did rotate back down toward the 200 hour moving average and

100 hour MA above.  Swing area between 1.16996 to 1.17054 below The EURUSD trades the close support and close resistance range. The support comes in at the swing area between 1.16996 to 1.17054, and the close resistance at the 100 hour MA at 1.17251.   The low reached 1.1700. The high just reached 1.17248.   The price

July high at $74.23 being tested. The price of crude oil is trading near it’s high price for the day at $74.27 reached in the current hourly bar. The current price is trading at $74.11 up $0.81 or 1.11%. At the high the price ticked above the July 30 high price of $74.23. Other swing highs

5s on the verge of a pop US 5-year notes have essentially been range-bounce since March but we could be at the end of the period of consolidation. Rates today are in danger of closing at the highest levels of the year. The bond king says we’re already at the intraday highs of the year

Three strong days for CAD/JPY I continue to find CAD/JPY is one of the more-fascinating charts out there. It broke down on August 20 at the peak of the delta worried but ended up finishing that day higher before jumping the next Monday. But it couldn’t get above the August high and then the Evergrande

Dollar keeps steadier as commodity currencies fall This comes as we see a bit more of a jittery mood among Chinese stocks, with the Hang Seng falling to the lows for the day and down by over 1% currently. The softer mood is also weighing on European indices to start the day with US futures

The NASDAQ is up for the third day.  The major US indices are closing higher with the Dow leading the way.  Indices are higher despite sharp rises in yields. The NASDAQ index, which tends to be more sensitive to higher rates, did lag, but it still had a gain of over 1% on the day.  The final numbers are showing: Dow up 506.5

CAD/JPY buyers live to fight another day in trading this week At least that is the case for now, as the pair rebounds to its highest levels since Friday last week and is seen up 1% today to 86.80 levels. Amid the deterioration of risk sentiment on Monday and Evergrande fears, the pair broke below

Nasdaq up for the 2nd consecutive day. The US stock market made through the taper talk from the Fed Chair Powell. The indices also have the positive from less bearish implications from the China Evergrande situation. The final numbers are showing: Dow industrial average up at 338.48 points or 1.0% at 34258.33 S&P index up 41.45 points or 0.95% 4395.63 NASDAQ

Can a more hawkish Fed spur an upside break in Treasury yields? The bond market has been rather unimaginative since mid-July trading and as the range since then continues to trap price action, it isn’t giving traders much to work with in terms of identifying a clear trend in the market right now. There are

The pair remained below its 100 hour moving average on the corrective move higher The EURUSD is testing a lower swing area near 1.1721 and 1.17264. The move to the downside has nearly retraced the earlier session lows which came in just below that swing area at 1.17177.    The earlier move to the upside today peaked at 1.1748. The low from

USD/CAD down 0.6% to 1.2746 on the day Risk trades are faring better today, finding some comfort after the meltdown yesterday in the wake of Evergrande/China fears. US futures are pointing higher and that is helping to keep sentiment more buoyed as we get into European morning trade. As such, commodity currencies are leading the

First time below the 100-dma in the Biden era The S&P 500 hasn’t been below the 100-day moving average since late October. Even then it was only for a few days. Before that you need to go back to May 2020 for a sustained stretch below the key level, which is at 4326 today. The

Third time’s the charm for sellers? The pair is down 0.4% on the day to fresh lows in a month, falling to 85.70 and the drop back below the 200-day moving average (blue line) now calls into question key daily support from the April low @ 85.42. However, the bounce was not all too significant

Trendline cuts across at 1.1722 The EURUSD is traded to a new session low and in the process is testing a swing area between 1.1723 and 1.17264 and a lower trendline at 1.1722. Drilling to the five minute chart below, the price corrected in the Asian session into the European session and in the process moved above

The 200 hour MA is breached in the Nasdaq but can’t reached the week low The NASDAQ and S&P remain under the most pressure today. The NASDAQ index is currently down -1.1% at 15014.01. The S&P index is down -41.61 points or -0.93% at 4432.02. Looking at the NASDAQ index (see hourly chart above), it did reach below its 200

The 200 hour moving averages at 109.869 The USDJPY continued the run higher started on Wednesday when the price stall against the August 16 in August 17 lows near 109.11. The move to the upside yesterday cracked above the 100 hour moving average but stalled against the 100 day moving average and backed off. Today, the price retried the move to

Yield up from 1.344% a week ago The 10 year yield closed last Friday at 1.344%. The current yield is around 1.372%. So for the week, the yield is up a little less than three basis points. That’s not all that much.  Looking at the week, the yield move down on Monday and Tuesday bottoming