Technical Analysis

The risk mood is more tepid in European morning trade European indices are a bit mixed, a little lower to start the new week, with US futures also trailing slightly after the solid bounce on Friday. That is not giving market participants much to work with, as Treasury yields are also slipping a little down

GBP/USD down 50 pips to 1.3849 currently Invest in yourself. See our forex education hub. The pair had a great showing on Friday, erasing the week’s losses altogether in a push to the week’s high of 1.3900 at the time. The opening levels today stuck there but there has been a steady retreat since –

USD/CAD pushes for more gains after yesterday’s turnaround Invest in yourself. See our forex education hub. The turnaround and further retracement in oil prices yesterday helped to flip the loonie on its head, as USD/CAD went from being lower in European trading to pushing back towards 1.2500 in North American trading. The pair closed below

10-year Treasury yields sink below 1.30% Invest in yourself. See our forex education hub. The bond market continues to flash a warning sign to the rest of the market as we now see 10-year yields sink below 1.30% to its lowest since February. The retreat since the FOMC meeting in June has been rather swift

USD/JPY searches for first day of gains in six days Invest in yourself. See our forex education hub. It is still too early to be saying what the latest bounce in yields really represents and the same can be said for USD/JPY price action at the moment. The pair managed to find some support from

A look at the CAD/JPY weekly chart Yesterday it looked like CAD/JPY could be headed for an ugly weekly pattern on the chart, falling straight through the June lows in the worst week in just over a year. Today though, the pair has climbed 80 pips to back within the recent range to limit the

AUD/USD turns around the earlier drop to climb to 0.7460 The low today hit 0.7411 in Asian trading, which marked the lowest level for the pair since December, but things are quickly changing now in European trading as risk sentiment is also lookin more positive for the time being. European equities are rallying while US

USD/JPY tests key trendline support as the yen leads gains today Invest in yourself. See our forex education hub. The latest downdraft in Treasury yields is finally stirring up some nerves in the market, as European indices are marked lower at the open with US futures also falling in tandem. This in turn is helping

AUD/USD down 0.6% to 0.7430 levels, the lowest since December last year Invest in yourself. See our forex education hub. The aussie is among the big losers so far today as commodity currencies are seeing a general retreat, with risk aversion kicking into gear in European morning trade. The latest downdraft comes as Treasury yields

Silver flat today as it sits Silver and gold aren’t getting the headlines now but I believe there’s more money to be made by watching quiet markets than trading volatile ones. At the moment, silver fits the bill. When you zoom out, there’s a big triple top ahead of $30/oz but there are also a

The dollar trades a little lower alongside the yen Not a whole lot is going on in Europe as movement among major currencies is relatively light, though commodity currencies are holding a slight advance. EUR/USD is trading narrowly within a 20 pips range between 1.1813 and 1.1833 (1.1827 currently) with GBP/USD keeping in a 28

NASDAQ closes at a new record for the third consecutive day The US major indices are ending the session with mixed results: NASDAQ posts a record close for the third consecutive day S&P index snapped a seven day winning streak Dow industrial average led the way to the downside The major indices are closing the

Dollar regains some ground in European morning trade Of note, EUR/USD is being pushed to fresh lows of 1.1847 after having seen the earlier upside push rejected by the 200-hour moving average: Price has even dipped just below the 100-hour moving average (red line) as sellers look to seize back near-term control in the pair.

Major European indices rise to start the trading week The major European indices are ending the session higher as the new trading week begins. The provisional closes are showing: German DAX, +0.09% Francis CAC, +0.22% UK’s FTSE 100, +0.55% Spain’s Ibex, +0.77% Italy’s FTSE MIB, +0.65% Looking at the German Dax daily chart, the price

Oil up 0.3% to $75.40 levels currently As much as there is a delay to the OPEC+ decision, oil bulls aren’t overly worried as the main sticking point there is the UAE wanting to increase its baseline output. Sure, they are blocking a deal/proposal for a 400k bpd increase in output per month starting from

Seventh record day in a row for the S&P index The S&P index and Dow industrial average are trading their high levels and are looking to both closed at record levels. For the S&P index, it would be the seventh consecutive record high close for the index.  For the NASDAQ, a new high be the second consecutive record close.   A snapshot

The CAD is the strongest The USD is now the weakest of the major currencies.  The CAD remains the strongest.  The greenback is trading to new session lows verse the GBP, CHF, CAD, AUD and NZD. The pair is just off it’s session low vs the JPY. The EUR and USD are battling it out for the weakest of

New highs for the EURUSD The EUR lagged other currencies in making new lows vs the USD, but the EURUSD has just moved to a new high (new dollar low). The pair traded to a new high of  1.18602, taking out the earlier high at 1.18588.    The next targets comes against the  38.2% retracement of the move