Blogs

<p>The EURUSD has been trading in a narrow 32 pip trading range for the day with a low near the low of a swing area at 1.0878 and a high near 109097. That level was the high from not last week, but the week before that (starting on January 8). </p><p>The narrow range may not […]

<p>The White House economic advisor and former Fed governor is on the wires saying:</p><ul><li>Lackluster recovery in China has not had particularly strong effect on US economy</li></ul><p>Also from the White House NSC Coordinator for communications John Kirby said the Biden administration who highlighted o

<p>The NZDUSD is trading to new session low, and in the process is retesting its 200-day moving average at 0.60893. That is the high of a cluster of support including a swing area between 0.60788 and 0.60856, and the 50% midpoint of the move up from the October low. That level comes in at 0.60716. […]

<p>The price of Crude oil is moving above $75 to a high of $75.11 so far. The last time the price moved above the $75 level was on January 12 with the swing high reaching $75.24. The end of December highs reached to $75.66 and $76.18. Those levels are the next targets on the topside. […]

<p>Most of the major European stock indices are closing date with gains. Spain's Ibex led the way. Italy's FTSE MIB was a laggard and the holy major indices to fall on the day.</p><p>A snapshot or closing levels shows:</p><ul><li>German DAX, +0.77%</li><li>France CAC, +0.56%</li><li

<p>The USDchf is trading above and below the 38.2% retracement of the move down from the October 2023 high. That level comes in at 0.86803 and the low and high for the day comes in at 0.8670 and 0.8700 respectively. That is not a large range (non-trending), and with the 38.2% at 0.86803, the traders […]

<p>Like many of the currency pairs, the AUDUSD is trading in a narrow trading range. Support is holding the 200-day MA at 0.65787. The 50% midpoint of the move up from the October low, is at 0.65699. Going forward, a move below each is needed to increase the bearish bias. </p><p>Conversely, stay above and traders […]

<p>A Reuters poll of 70 economists says:</p><ul><li>BOE to hold the bank rate at 5.25% when they next meet on February 1</li><li>The central bank is to cut bank rate to 5% in Q2 of 2024. That is faster than the Q3 cut from the December poll.</li><li>UK economy to expand at 0.4% in 2024, 1.2% in 2025 [

<p>To start the trading week, the USDCAD traders tried to push to the downside but found support buyers near the 200 bar moving average on the 4-hour chart at 1.3409. That level is also within a swing area between 1.3398 and 1.3414.</p><p>On the top side, the close resistance comes against the 38.2% retracement of the […]

<p>The Conference Board leading index for December came in negative once again. This is the 21st consecutive decline for the index. That recession is coming.. I promise.</p><ul><li>Prior month -0.5%</li><li>Leading index -0.1% versus -0.3% expected</li></ul><p>A negative reading is supposed to p