Technical Analysis

RBA minutes due at 0130 GMT AUD/JPY slumped as low as 79.89 yesterday, just above the July low of 79.84. It’s since rebounded 30 pips but remains within the danger zone as we count down to the minutes of the August 3 RBA decision. For me, this chart doesn’t look great. The temptation is to

Oil is down 2% to near $67 in European morning trade While WTI crude seemingly held at the July low in trading last week, the latest bounce never really got going as it is slowly fizzling with the market leaning more towards being risk averse to start the new week. Delta variant concerns are posing

USD/JPY down 0.2% to 109.30 levels currently Invest in yourself. See our forex education hub. The sharp move lower on Friday came as Treasury yields and the dollar sank and with yields keeping lower once again today, the downside momentum in the pair is staying the course as European traders enter the fray. USD/JPY is

AUD/USD is down 0.4% today, keeping near the lows in European trading The pair is down 0.4% on the day to around 0.7338 currently, hovering near the lows as the more defensive risk mood and softer China data weigh on the aussie. That said, in the context of the past few days, this fits with

Down -$0.65 or -0.94% The price of WTI crude oil futures settle at $68.44. That’s down $0.65 or -0.94%. The high price reached $69.22. The low price extended to $68.15. The low today was just above the closing level from last week near $67.95.  For the week the price moved lower on Monday falling to a low

NASDAQ closes lower for the week The S&P and Dow held on for a record closes but just barely.  The S&P closed at record day for the fourth consecutive day.  The NASDAQ moved higher in the last minute of trading and it’s second gain in a row.  The Russell 2000 fell close to 1%. S&P posted its 48th record close

TGIF The EUR is the strongest and the USD is the weakest as NA trading get underway on a Friday. TGIF.   The Eueopean stocks continue to move higher with the German Dax moving to yet another new high. The CAC is also making a new year high and works closer to its all time high

Takes out the low from yesterday’s trading The GBPUSD has been steadily moving lower over the the course of the NY session and has just moved below the low target from yesterday’s trading below 1.38022 and also below the natural support at 1.38000. The low 1.37935 so far. Looking at the hourly chart, the pair is testing/dipping

It has been a snoozefest of a session so far Major currencies are keeping in narrow ranges and are still within 10 pips of one another on the day, as the mood couldn’t be more dull in European morning trade. To keep things flowing, let’s take a look at some dollar pairs right now and

Nasdaq lower for the 2nd consecutive day The Dow and S&P closed at record levels for the second consecutive day. The NASDAQ closed lower for its second day of declines.  The Dow closed at a record for the 32 time this year The S&P closed at a record level for the 46th time this year The Dow closed near its

USD/JPY inches up to five-week highs The dollar sits in a good spot to start the day as it continues the more solid momentum from last week, with the US jobs report on Friday providing a springboard for the greenback to push higher against the rest of the major currencies bloc. In particular, the rise

What levels are in play for the EURUSD and the GBPUSD. Are the bottoms in place The GBPUSD and the EURUSD both nearly reached some key downside targets.. For the EURUSD, the pair got within 4-5 pips of the 2021 low for the year and has bounced modestly.  For the GBPUSD the pair reached the

Buyers look to buck the trend in search for fresh upside momentum The pair is up slightly on the day to 110.45 currently, as 10-year Treasury yields hold its ground at around 1.315% to get European trading underway. With yields continuing the rebound and holding above 1.30%, that is providing an impetus for yen pairs

Dow and S&P snap 2 day win streak The US stocks are closing mixed with no records set today.  Last week on Thursday, both the S&P and NASDAQ closed at record levels. On Friday, the Dow and S&P closed at record levels.  Today although the Nasdaq rebounded higher, it fell short of its record close.  The S&P and Dow both closed lower and with

Oil down by more than 3% below $66 currently Invest in yourself. See our forex education hub. It is shaping up to be a brutal start to the new week for oil, as price sinks further by more than 3% and is taking out some key technical levels along the way. The latest drop sees

ADP payroll and ISM trump the US job gains. The NY Fed Nowcast estimate for 3Q grown slowed to 3.7% from 4.2% last week.   How can that be given the strong US jobs report? Indeed the nonfarm payroll added 0.18% to the weekly change in the NY Fed’s model. However, those gains were trumped this week, by the ADP jobs

German DAX pressures that the all-time high but backs off The German Dax move to a intraday high today of 15808.24. That was just short of the July 44 high of 15810.68. The inability to make a new high led to some rotation back to the downside.  Nevertheless, the German DAX index is closing marginally higher

Trades between 100/200 hour MAs The NZDUSD has followed the trend higher in the US dollar today (NZDUSD lower) after the stronger than expected US jobs report.  The pair moved lower, and in the process cracked below its 100 hour moving average (currently at 0.70328), and continued through an old swing ceiling at 0.7018  to 0.70203 on it’s