GBP/USD sits in between its key hourly moving averages currently See here for global coronavirus case data The pair rose to a high of 1.2522 earlier in the day on the back of a softer dollar and more positive risk appetite, but buyers failed to break the 100-hour MA (red line) and since then price […]
Blogs
AUD/USD eases below key near-term level despite firmer risk appetite
The dollar and yen are gaining ground despite the more positive risk mood See here for global coronavirus case data The market is hinting at very mixed tones at the moment as we are seeing the dollar and yen firm a little to start the European morning.
Gold goes in search of a break under $1,700
Gold falls below the $1,700 level See here for global coronavirus case data Sellers are exerting more dominance as price action now falls below key near-term levels around $1,700-05 pointed out earlier. The next key level to watch will be the 200-hour MA (blue line) at around $1,690.71.
Gold buyers lose near-term control, but are not down for the count just yet
Gold eases back under its 100-hour moving average but buyers are still defending key near-term levels for now See here for global coronavirus case data Gold eased lower to start the day as risk rallied and trading since then has been a bit more choppy, as price retested the 100-hour MA (red line) before falling […]
US stocks move higher led by the Nasdaq index
Dow lags as Boeing slumps The US stock indices closed higher on the day led by the Nasdaq index. The S&P and Dow closed higher as well but the gains were well behind the tech heavy Nasdaq. For the Dow, the blame fall firmly on Boeing which alone fell over 7% on the day.
Gold moves to new session low and below trend line support
Tests 100 hour MA The price of gold is extended to a new session lows and in the process has moved below a trendline at $1719.61 (and has stayed below that level). The price is also moved below its 100 hour moving average currently at $1713.50. The low price for the day reached $1708.37. We currently tr
USDCHF reverses up to its 100 day moving average and stalls
100 day moving average at 0.9716 The USDCHF found earlier support against its 100 hour moving average and bounced. Earlier a swing area and 200 hour moving average stalled the rally. A move above the 200 hour moving average was needed to kickstart more upside momentum.
US stocks drift back lower. S&P down on the day
Major indices off high levels The last 20-30 or so minutes has seen the US stocks drift back lower. The NASDAQ index has moved from a high price of 8560.16, to a low of 8414. The high watermark was up 166 points. The price is now up 17 points.
EURUSD runs lower into the fixing
New lows for the day The swing lows from April 9 at 1.0804 and April 8 at 1.08293 are the next targets.
US 5-year yields near the March lows
US 5-year yields at the lows You can argue that it's an insane amount of Fed buying and you can argue that the bond market is pricing in more trouble ahead. At the end of the day, someone is lending money to the US government for 5-years at 0.32%.