Trend line and 100 hour MA left behind (on the topside) The price of gold made a run lower in trading today. The fall was helped technically after the price fell below a topside trend line yesterday (see post from late yesterday . The underside of the trend line was retested before moving lower today.
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USDCAD moves back down toward 100/200 hour MAs
Up and down trading today The USDCAD is another pair that is mired in an up and down price action today. Looking at the hourly chart above, the Asian session low today stalled ahead of the 200 hour MA (green line) and bounced. The high today stalled somewhat randomly at 1.41169. The last 5-6 hours has seen a […]
US stocks open higher. Dow and S&P outperform
Recent high flyers give back some gains as normalcy is eyed The US stocks have open higher with the Dow and S&P outperforming the NASDAQ. The NASDAQ has outperformed recently with Amazon and Netflix moving to all time highs. Those 2 stocks are lower today by 1.7% and 2.8% resp
EURUSD mired in the ups and downs over the last 24 hours
50% retracement of the April range is the ceiling. The low today took out the low from yesterday, but that break failed The EURUSD is mired in an up and down range over the last 24 or so hours.
USDJPY pushes to new session lows
Cracks back below its 100 hour MA The USDJPY is pushing to a new session low as sellers take charge ahead of the stock market opening. Technically, the price moved back below its 100 hour moving average at 107.559. A trend line target off the lows for the week on the hourly chart, at 107.29.
GBPUSD honors the 100 hour MA above and the 50% retracement below
Up, down and up day. The GBPUSD has had a up, down and back up day. In the process, the pair tested it's 100 hour moving average on the upside at 1.25212, moved down to retest the 50% retracement of the move up from the April 7 low at 1.24042. That level was also near the low from […]
The NZD is the strongest and the USD is the weakest as NA traders enter for the day
Risk on as hope for a drug in treating COVID The risk on trade is on with the NZD and AUD the strongest of the majors, while the USD is the weakest. Hope for a quicker cure for a drug in treating COVID and plans for the reopening of the economy have stocks moving higher.
AUD/JPY tests key near-term support as risk momentum called into question
AUD/JPY falls below its 100-hour moving average and is now testing the 200-hour moving average on the session See here for global coronavirus case data The aussie has given back gains on the day against both the dollar and yen, as we see the risk momentum get called into question as oil prices hit the […]
EUR/USD falls to session low as dollar erases earlier losses on the day
EUR/USD slips to a session low of 1.0833 See here for global coronavirus case data The dollar and yen are both gaining further ground on the session, with the likes of the euro and pound in particular falling flat right now in European trading.
WTI crude hits the skids in drop below $19
WTI falls by nearly 5% on the day in a drop below $19 See here for global coronavirus case data That's fresh lows for oil since 2002, as the $19 level looks to be giving way now and that could open up a really slippery slope for oil as prices hits the teens.