Technical Analysis

NASDAQ bounces off 38.2% and fills a gap The NASDAQ index move down to a low of 17352.93. In a prior post I outlined the area as a target level. The level corresponds with the 38.2% retracement of the move-up from the May low. That level comes in at 17353.82. It also corresponds roughly with

FTSE China A50 Index Futures: A practical guide for investors The FTSE China A50 Index Futures (ticker: XIN9) are a vital tool for international investors aiming to tap into China’s vibrant A-share market. Traded on the Singapore Exchange (SGX), these futures mirror the performance of the 50 largest A-share companies listed on the Shanghai and

The EURUSD moved lower in the US session and in the process moved down to test the 50% midpoint of the trading range since the December 2023 high. That level comes in at 1.08695. The current price is at 1.0888. The bounce off that support target is a key bounce and bullish signal. Going back

The 2-10 year spread has not been positive since July 2022. The most recent high close (most narrow negative spread) is coming near -16 basis point. Today the spread rose to -27.3 basis point which would be its highest close since January 29. Since June 25, the spread has moved from -50 basis points to

The NZDUSD rallied toward the end of last week’s trading, after sellers had their shot on the break of both the 100/200 day MAs earlier in the week. The move higher initially extended to the 200 bar MA on the 4-hour chart, before correcting lower midweek. On Friday, buyers returned after the US jobs report

Fundamental Overview The USD yesterday weakened across the board following soft US Jobless Claims and ISM Services PMI reports. Overall, the data didn’t change much in terms of interest rates expectations, but it reinforced the view that the Fed is going to deliver at least two rate cuts by the end of the year. The

Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Yesterday, we also got the US Jobless Claims figures where the data showed that the labour market continues to rebalance via less job

Fundamental Overview Copper remains under pressure, albeit the bearish momentum appears to be slowing. Last week, the FT reported that stockpiles in Shanghai warehouses hit their highest level since 2020 amid weak demand due to China’s real estate sector downturn. Given the high prices reached in the previous month, manufacturers refrained from buying since they

As the clock ticks to the end of the trading week, the USDCAD has moved higher after reaching a new low for the week earlier in the trading day. On the way to the low, the price did move back below its 200 bar moving average on the 4-hour chart at 1.3687. It also fell

The NZDUSD experienced a decline during the Asian session, moving down to retest and briefly dip below the 200 bar MA on the 4-hour chart. Additionally, the price fell below last week’s lows (see the red and green lines at 0.61029). However, after these failed breaks, the price rebounded and surged higher during the US

Apple broke higher this week on the back of the new AII news for the company (and its products announced ar the World Wide Developers Confeence. Fundamentally, the hope is the new AI initiatives will stir a new round of product upgrades for its user base. That is something new vs what has been ho-hum

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Crude oil futures are settling at $75.55. That is up $1.48 or 2.0%. The high price today reached $75.79. The low price was at $74.06. The price bottom this week at $72.48 on Tuesday. For the trading week the price is still down -1.9% or $-1.46, but well off the low of $-4.51. Crude oil

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

The USDCHF has had its upsa and downs today (and this week), with the buyers now making a play after holding support at the 100 bar MA on the 4-hour chart at session lows today. The ability to hold that support and them push above the 50% retracement of the May trading range, has given

The USDCAD has now retraced the earlier gains in trading today. The price is now down testing a swing area between 1.3604 and 1.3615. A move below that level will have traders looking toward the 38.2% retracement of the move up from the December 2024 low to the high price reached in April. That level