Technical Analysis

Stocks tilting lower As stocks tilt more to the downside, the AUDUSD is losing some upside momentum and has not dipped below a swing area in from some intraday highs and lows over the last two days between 0.78609 and 0.78643 the current price is trading at 0.78562 as I type. The next target would

Swing highs from March at 0.78375 to 0.7848 are targeted now The AUDUSD is at a new high going back to March. The swing highs in March came in at 0.78375 and 0.78487 on March 3 and March 18 respectively.  The high price just reached 0.78446.  A move above the March high at 0.78487 should solicit more buying.  Drilling to the hourly

New highs as London/European traders look to exit The EURUSD is trading to a new session highs and in the process has broken above the April high of 1.2149 and trades the highest level since February 26. The next targets comes at 1.2169 and 1.2189.  Looking at the daily chart, the pair has also moved into a swing area

Retraces most of the declines The 10 yield is back positive on the day trading near 1.58%. That comes after trading as low as 1.464% on the initial reaction after the nonfarm payroll report.  Since then, the yield has push back higher and is nearly back to the high yield for the day at 1.582%.   Technically, the 50% of the

Major indices all close higher The major US indices are closed higher.  The gains were led by the NASDAQ index. The S&P and Dow industrial average both closed at record levels. The final closing levels are showing: S&P index up 30.81 points or +0.73% at 4232.42 . The high for the day reached 4238.04. The low was that 4201. 64 NASDAQ index closed

CFTC commitments of traders: The loonie increased by 10K Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly forex futures positioning data from the CFTC for the week ending May 4, 2021 EUR long 85K vs 81K long last week. Longs increased by 4K GBP long 20K vs

NASDAQ snaps four days losing streak. The US stocks rallied into the close with the Dow ending the session at a new record and at the highs of the day. The index is closing up 315.76 points for the fourth higher close in as many days. The NASDAQ index is also closing higher for the first time in five trading days.  A

Breaks below the 2018 low price of 1.22445 The USCAD is trading to the lowest level since September 2017. The price today fell below the 2018 low price of 1.22445.  Yesterday the price action stalled just above that level.  The next major target off the weekly chart comes in at 1.20612. That is the low price from 2017 Looking

Down six cents or -0.09% The price of WTI crude oil futures are settling at $65.63. That is down $0.06 or -0.9%.. The high price today reached $66.76. The low price extended to $64.92. The crude oil inventory data showed a larger than expected drop in inventories of 7.99 million versus -2.0 million estimate. Gasoline

Dips below the rising 100 hour MA have been short lived this week The USDJPY just dip below its 100 hour moving average as yields moved back down and stocks seemed to be getting off to a “sell the higher open” start. However, the dip below the MA line at 109.189 was short lived (so far at least).

The 50% slowed the decline today The Nasdaq index is still down -324 points or -2.34% on the day, but the low for the day did reach down to 13485.59, down -2.95% or -409.53 points.  That day low, dipped briefly below the 50% of the move up from the April 25th low at 13499.19. However,

Nasdaq index lower.  Dow closes higher The NASDAQ index has now posted a three day losing streak as it fell -0.48%. The Dow snapped a two day losing streak closing higher by 0.7%. The final numbers are showing: S&P index up 11.49 points or 0.27% at 4192.66 NASDAQ index down 67.565 points or -0.48% at 13895.11 Dow industrial average