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Early buyers have led to consistent selling over the last 6 hours The EURUSD was extending higher in trading earlier today, but as soon as the price fell below an upward sloping trendline on the hourly chart and the 100 hour moving average, the buyers turned to sellers. The price has been trending lower since tha

The pair test the 50 hour MA and 50% retracement The S&P index is trading near highs at 2798.90. The current price is at 2795.64, up 58.96 points or 2.15%. 

Also below the 100 hour MA The AUDUSD is correcting off the highs today after testing the 200 hour MA at 0.63447. The 100 hour MA at 0.6330 has also been broken, and the price of the pair has stayed below that level over the last 6 or so hours..  

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The 50% retracement held support yesterday The price of gold has pushed back above the hourly 100 and 200 hour MA levels. The pair based against the 100 hour MA on the last dip which has helped the bullish bias. 

Sellers run out of steam and buyers step in The USDCAD has tested and bounced off its 100 hour moving average currently at 1.41143. In an , I commented about the level (and lower trend line) :

Crack support and runs to new lows The EURUSD buyers have given up on the topside (him). The price fell below the 100 hour MA and trend line on the hourly chart and buyers turned to sellers (see earlier post). The price is now trading at a new session low , with the extreme area […]

Gold at the highs of the day The technicals in gold are important and it's imperative to note the positive correlation with equities right now. By any fundamental measure, gold is absolutely sparkling right now. The only real risk is that economic activity is so depressed that jewelry sales crumble and some battered country is […]

Topside trend lines and swing levels in play to the upside.  Price is moving away from its 100 and 200 hour moving averages The USDJPY as made a move to the upside with new session highs being made. The move higher has taken the price away from its near converged 100 and 200 hour moving averages at 107.6

USD/JPY has topped out here for a week USD/JPY has lulled everyone to sleep with a sideways chop for the past week but it's often the quietest markets that deserve the most attention.