Blogs

Flattish tones observed as the cash market opens – Eurostoxx +0.1% – Germany DAX +0.1% – France CAC 40 flat – UK FTSE flat – Spain IBEX -0.1% See here for global coronavirus case data

Some profit-taking in the Big 5 stocks ahead of earnings starting today That index is now turned negative after trading higher earlier in the session. The high price reached 8830.57. The low just extended to 8688.285. We currently trade at 8717. 

Test the underside of the broken trend line The USDCAD as moved sharply lower in the European session, and in the process fell below a lower trend line on the hourly chart at 1.3969. However, the pair has found support buyers ahead of a swing area at the 1.39203 to 1.39301. The low for the day r

Key levels for gold in play Gold is back below $1700 but the key intraday level is $1692, which was the Asian low. It bounced strongly from there earlier and has bounced again in the past few minutes.

Can the broken 50% hold? The GBPUSD is moving back down after testing a swing area in the 1.25137-214 area and reversing.  The price is now retesting the 50% retracement of the move down from the April 14 high to the April 21 low on the hourly chart below. That level comes in at 1.24466 level. &

Dow up for the 5th day in a row The S&P index close above its 50 day moving average yesterday. The 50 day moving average currently comes in at 8788.53. The next target is the 200 day moving average at 3006.90.

Buyers come in ahead of the midpoint target The USDJPY on the daily chart has been developing a floor in April between 106.91 and 106.988 (see red numbered circles on the daily chart below). That level was tested yesterday and bounced. Today, the price action fell below that area and continued lower. The low pric

Above 100 bar MA on the 4-hour chart The EURUSD has moved sharply higher as flows head out of the dollar and into other currencies (like the EUR) which has been relatively weak. Hopes for a global reopening is spurring on the flows.

Gold rebounds back above its 200-hour moving average See here for global coronavirus case data Gold was keeping weaker on the day, down by over 1% to a low near $1,693 before finding some support there and keeping around $1,700 thereafter. But as the dollar falls in trading on the session now, we are seeing […]

Cable touches the 1.2500 level for the first time in more than two weeks See here for global coronavirus case data The pair is racing to a high of 1.2505 on the session as we see the dollar crumble across the board, with risk starting to jump higher. The breakdown in USD/JPY under 107.00 is […]