200 day MAat 1.2664. Trend line at 1.2657. The GBPUSD has moved back down to test the 200 day MA at 1.26643 and the rising trend line on the hourly chart at 1.2657. A move below will have traders looking toward the 38.2% at 1.26422. Below that is the 50% and swing high from Wednesday […]
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The "V" is complete in the NASDAQ index. New all-time highs for the index.
New all time high for the Nasdaq index above 9838.37 The "V" is complete in the Nasdaq index. The price just traded to a new all-time high price. The February 19, 2020 high reached 9838.37.
Gold tests May lows as investors flee the safety of the precious metal
May low at $1670.71 The price of gold is currently trading (as I type) down around $36.24 or -2.11% at $1677.77. The low for the day reached $1670.98. That was just off the month of May low price of $1670.71.
New highs for major indices
NASDAQ index moves closer to all time high close The major indices have reached a new session highs as Pres. Trump continues his speech in the Rose Garden.
EURGBP tumbles lower. Looks to test swing area.
The swing area on the daily chart comes in at 0.8862-76 The pair looks toward support at a swing area at 0.8862-766. The low was so far reached 0.88847.
MUFG trade of the week: Buy EUR/AUD and CAD/CHF
Mitsubishi UFJ with two trades this week MUFG recommends buying EUR/AUD at 1.62 and targeting 1.67 along with buying CAD/CHF at 0.7160 with a target of 0.7340.
A little short term technical weakness in the AUDUSD
Below the swing area, trend line and a swing area put a little doubt in the bull for the AUDUSD The strong US job reports led to a temporary spike higher in the AUDUSD, but the pair stalled short of the European morning high at 0.70122 and also failed to remain above the swing highs from Wednesday and […]
Gold tests the May low as investors abandon the safety trade
The debt monetization trade fades The big risk in the gold trade next week is that the Federal Reserve highlights that the economy hasn't been as bad as feared and hints that it will ease up in the stimulus.
USDCAD breaks its 200 day MA.
First move below the 200 day MA since Feb 21 The USDCAD continues to move lower (loonie higher). The US job report wasn't the only surprise. Canada also reported a surprise 500K gain in jobs in May earlier today.
GBPUSD moves higher as traders squeeze higher and away from the 200 day MA
Good for US (and travel) is good for the GBP The dollars has moved higher vs. the EUR, CHF, JPY after the US jobs report, but not against the GBP. That currency at times is thought of a "risk on" currency. It also can get squeezed higher as traders work through the potential negative of Brexit,