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Also moving away from the 200 hour MA Rates are lower and that is helping the price of gold move higher.   The US 10 year yield is currently trading at 0.736%. That's down nearly 9 basis points on the day.

Up $0.66 The high price reached $39.91. The low extended to $37.73. The move higher was able to shrug off the inventory data point showed crude oil inventories increased by 5.72 million barrels vs. -1.85M estimate. The private API data and a larger surprise of 8.49 barrels. As a result the market was likely expec

Nasdaq remains positive The major indices all moved positive after the FOMC decision, but both the S&P index and the Dow industrial average has move back into the red. The S&P index trades above and below the 0.0 line. The S&P index is currently down -11 points. The NASDAQ index is up 72 points or

Swing area at 1.3320 – 47 The USDCAD as a run to a swing low target area at 1.3320 – 47. The low just reached 1.3315 and we are seeing a bounce up toward the 1.3330 level. Traders will be watching the 1.3347 level as a topside risk defining level.  Stay below keeps the bears

Trades to new session lows The USDJPY moved higher initially on the FOMC decision and in the process tested its 200 bar moving average on the 4 hour chart. In the pre-decision technical look I commented:

Holds support and now testing the highs Post the FOMC decision, the US stocks have reversed higher with the S&P index, NASDAQ index and Dow industrial average all trading on the plus side. The NASDAQ is leading with the 0.98% gain. The S&P index is up 0.3% and the Dow industrial average i

USD remains the weakest of the majors going into the FOMC decision The USD was the weakest of the majors at the start of the NY session, and although the dollar has rebounded off low levels in the NY morning (and into the early afternoon), the greenback remains the weakest of the majors.  The AUDUSD […]

Waiting for the Fed (risk on or risk off) The AUDUSD stays near highs for the day and above support levels as the market awaits the FOMC decision and either "risk on" (up for AUDUSD) or "risk off" flows (down for AUDUSD). 

German DAX, -0.5%. France's CAC, -0.6% The major European indices are closing lower. The indices have been lower for 3 consecutive days now.  The provisional closes are showing:

The price bounced off the MA yesterday The EURJPY has fallen below its 200 hour MA at 121.828 (green line in the chart below). A move below, tilts more of the technical bias to the downside. Stay below, keeps the seller in control.