CFTC commitments of traders: EUR longs increased. CAD longs increase Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly futures forex positioning data from the CFTC EUR long 109K vs 104K long last week. Longs increased by 5K GBP long 24K vs 31K long last week.
Technical Analysis
Dow snaps five they win streak The NASDAQ index is leading the decline with its biggest decline in three weeks. It also increases the up one day/down the next day string to 11 consecutive days. S&P index is down for the second time in three days Dow industrial average snaps it’s a five date when
Moves away from consolidation area. The AUDUSD has been stuck within a trading value area between 0.7700 and 0.7795 since May 12. There was an extension to an extreme low to 0.76269 last week, but that was quickly erased. Today, the pair saw a London session high that stalled just below the 200 hour moving average at 0.77404 (green line), and break -with
Major indices little changed The US stocks gave up most of their earlier gains but still found some buying near the close and are closing higher on the day. The Dow industrial average has extended its winning streak to 5 trading days. The Dow is 2% from its all-time high The S&P is up 4 of the last 5 trading days. The S&P
Swing area in the 1.2040 to 1.2046 The USDCAD is trading near the lows for the day and in the process is testing a swing area in the 1.20407 to 1.20461 area. Yesterday and on Friday, the pair stalled near that area before moving to the downside and trading to the lowest level since May
Nasdaq modestly lower. Dow higher It is a mixed market in the US equities today. The Dow close higher for the fourth consecutive day The S&P index snapped its three day winning streak and closes near session lows. The index got within four points of its all-time intraday high The Nasdaq close lower energy sector closes 4% higher Russell 2000 up three
Up and down activity but above 100/200 hour MA The RBA Rates unchanged and kept a more dovish stance as Governor Lowe said “inflation and wage pressures are subdued” and that a pickup in prices is expected to only be “gradual and modest”. Despite the less hawkish comments the dips in the AUDUSD have been bought. The pair did dipped below its
WTI up 1% just above $67 currently Oil is trading close to its best levels for the year and from a technical perspective, may be set for a surge of gains if it can hold a daily close above $67 with a firm break above the $68 level preferable for buyers to extend the upside
Its month end too The US the stock market is opening with relatively modest and similar gains across the major indices. Remember, it is month end today (the stock market will be closed on Monday for Memorial Day). That could lead to flow data and increased volatility. A snapshot of the market currently shows: S&P index up 12.18 points or
Dollar selling takes the pair back to the downside The USDCAD and retraced all its gains from the day. The low from the first hour of trading in the Asian session reach 1.20635. The price just dipped to a new session low for the day at 1.20629. All the declines have occurred in the last 2+
Lows stalled at 61.8% retracement of last move higher The NZDUSD has snapped up to retest the 100 hour MA at 0.72587. The pair has found sellers on the test, but be warned, the London fixing is approaching at the top of the hour. Anything can happen. For the week, the low was reached on Monday. That low
Major indices higher for the week/higher for the month The major European indices have moved higher on the day and the week. With most European it’s open on Monday, there is still one more day of trading for the month. However, the major indices are all trading higher for the month as well. A look at the provisional closes
A look at FX monthly performance and the chart The pound was easily the best performer this month gaining 2.68% against the US dollar, followed by CAD and CHF. The yen was the laggard, down 0.45% and AUD was the only other G10 currency down against the dollar. A big move in GBP/JPY came yesterday
Cracks below the swing area and 50% midpoint of the move up from May 13 swing low The EURUSD is making new lows for the week and in the process as cracked below the Monday low (reached in the first hour of trading) at 1.21718, a swing low area around 1.2158 which is also near the 50% of
GBPJPY up over 1% on the day The USDJPY is trending higher and is now trading at the highest levels since April 9 – moving above the May high at 109.78 in the process. The GBPJPY is outpacing that trend move gain, with a run higher of over 1% for the GBPJPY pair. The GBP is the strongest of the majors
Nvidia releases earnings after the close the major US indices are ending the session with mixed results. The Dow 30 is closing lower. The Russell 2000 index up small-cap stocks is closing up around 2%. The Dow and S&P are on track for a monthly gain the NASDAQ remains on track for a down month.
S&P listen 1% from its all-time high Both the NASDAQ and SMP indices are trading to new session highs. The NASDAQ index traded as high as 13742.29. It is currently trading at 13741, up 83.85 points or 0.61% The S&P is trading up 10.9 points at 4199.05. That’s up 0.26%. Its hi it just reached 4199.92 just short of 4200. The S&P index
Modest losses the major US stock indices are closed lower, giving up earlier gains. Highlights for the day include: S&P closes at 1% below all-time high NASDAQ 4% below all-time high Dow closes 2% below all-time high Dow, S&P on track for a monthly gain NASDAQ index on track for a monthly loss The final