Technical Analysis

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No explicit taper timeline The dollars move lower on the headlines from Fed chair Powell’s speech.  No explicit taper timeline has sellers pushing the greenback lower.  Yields are moving lower as well.  The comments run counter to what most Fed officials have been saying which will make for an interesting September meeting. Of of course the jobs report in September will be a key talking

Swing area between 1.2577 and 1.2596 is the next downside target The CAD has followed the other currencies in moving higher versus a weakening dollar after Chair Powell did not satisfy the taper hawks.  Looking at the hourly chart, the price has moved back below its 100 hour moving average at 1.36372. Stay below that moving average keeps the bears

…and overall dollar selling The AUDUSD is racing higher encouraged by the overall dollars selling after Fed chair Powell’s Jackson Hole speech and overall risk on sentiment help by rising stock prices. The NASDAQ index is currently at 148 points or 1%. The Dow industrial average is up 231 points or 0.65% and the S&P is up

S&P has its best day in more than a month The major US stock indices all closed higher.  Both the S&P and NASDAQ closed at record levels The S&P closed at a record level for the 52nd time this year Every sector of the S&P closed higher except healthcare and utilities The NASDAQ closed at record level

Gains of 0.30% to 0.60% for the major indices The European major indices are ending the session higher after earlier declines. The indices have been dried higher by solid gains in the US after Fed Powell’s Jackson Hole speech.   The provisional closes are showing: German DAX, +0.3%. The index was down -0.3% at session lows France’s CAC +0.2%. It was down -0.32%

NASDAQ trades to record high before reversing lower The major indices are closing near the lows for the day.  Highlights: NASDAQ still on track for its best week in five weeks Dow breaks a four day win streak NASDAQ and S&P break as a five day win streak NASDAQ traded to a record high before reversing

Geopolitical anxiety helps to kick the indices lower The geopolitical anxiety – and perhaps a bit overbought conditions – have sent the US stocks lower.  A snapshot currently shows: Dow -36 points or -0.10% 35372 S&P index -16 points or -0.37% at 4478.90 NASDAQ index -51 points or -0.34% 14991.78 The NASDAQ and S&P index are up

Level corresponds with the 61.8% retracement level The NZDUSD is trading to new session highs for the day and in the process is testing a break level from last week’s trading and also the 61.8% retracement of the move down from the August high to the August low. Those levels come near 0.69796. Looking at the hourly chart,

50% retracement above and swing area/200 hour MA below The AUDUSD is not going very far today with a 28 pip trading range.   The pair has found sellers ahead of the 50% retracement above at 0.72659, and buyers below near the 200 hour moving average at 0.7240 and a swing area between 0.72368 and 0.72452.   THe current price trade at

Russell 2000 leads the way with a gain of 1% The S&P and NASDAQ are both closing at record high levels.  S&P and NASDAQ up for the fourth consecutive day Russell 2000 leads Way with a 1% gain Dow rises for the second consecutive day NASDAQ index closed above the 15,000 level for the first

NASDAQ and S&P up for the fourth consecutive day The US stocks opened and after a few minutes of trading, the major indices are trading higher. The gains are led by the NASDAQ index which has extended to a new record high. A snapshot of the market currently shows: Dow industrial average up 80 points

S&P and NASDAQ close at record levels The US major indices had a solid gains today led by the NASDAQ index which increased 1.54%. The Russell 2000 also had a solid gain of near 1.9%. The gains were help by the FDA’s full approval of the Pfizer Covid vaccination. The hope is that those who

Indices move higher to start the trading week The major US stock indices are starting the day and the week to the upside. The Dow is up for the second consecutive day. S&P and NASDAQ up for the third day in a row THe snapshot currently shows: Dow up 188 point or 0.54% at 35308.26 S&P index up 23.34 points

The January/February highs between 1.2669 and 1.2880 were broken earlier, but price has moved back below The USDCAD continued its run higher today with the pair breaking above its 2021 highs between 1.2869 and 1.2880 (from January and February).  The break saw increase momentum and the pair moving up to the next target area between 1.2926 and 1.29578 (see yellow area

Major indices close higher. The major European indices have erased earlier declines and are closing higher today. The provisional closes are showing: German DAX, +0.2%. The index was down -0.71% at the lows France’s CAC, +0.3%. The index was down -0.57% the lows UK’s FTSE 100, +0.4%. The index was down -0.39% at the lows Spain’s

The low was at $1770.60 and the high was at $1795.37 The price of gold has consolidated in a up and down trading range this week. The low was reached on Monday at $1770.60. The high was on Tuesday at $1795.37. The close last Friday was around $1778. The current price is trading around $1785. That is in

Stall at the key MA level The GBPUSD trended sharply to the downside yesterday and is modestly lower today. The EURUSD had an up and down day yesterday – closing lower – and is higher today.  That price action has been helped by a bid in the EURGBP  over the last two days. Looking at the hourly chart,