Technical Analysis

NASDAQ index trading to a new session low The US stocks have heading lower.  The NASDAQ index is now trading at new session lows down about -60 points or -0.39% at 15187.40. The Dow is down -146 points or -0.42% at 34731. The S&P index is down -16.75 points or -0.37% at 4476.43. Both the

The 100 hour moving average and 200 day moving average are convergent 0.7114 The NZDUSD has been rotating back to the downside after an attempt to get above Tuesday’s high at 0.71523 failed.  The pair was higher earlier in the day as stocks opened with solid gains, but those gains were eroded and the prices started to move back down. The pairs

NASDAQ down for the second consecutive day The US major indices are all closing lower with the Dow and S&P down for the fourth straight trading day. The NASDAQ has been down for two consecutive days A look at the closing levels shows: Dow industrial average fell -150.84 points or -0.43% at 34880.23. The low

The last 6 hours has seen the price stay above the 200 day MA and 100 hour MA The NZDUSD traded yesterday between its 200 day moving average above and 100 day moving average below (at 0.71138 and 0.70778 respectively).  Traders were waiting for the break and run. At least that is the hope.  Today, the break came

The dollar bid is in flux The abrupt reversal in the US dollar today likely has market participants feeling off balance. In addition, US 10-year yields looked to be breaking higher yesterday only to give it all back and more today. The setup going into tomorrow is uncertain. On the charts, there are a series

German DAX, -1.4% The major European indices are ending the session with the client across the board. The provisional closes are showing: German Dax -1.4% France’s CAC, -0.8% UK’s FTSE 100, -0.7% Spain’s Ibex, -0.44% Italy’s FTSE MIB, -0.6% In other markets as European/London traders look to exit: Spot gold the is trading down $-2.46 or -0.14%

Mixed results for the major indices The NASDAQ index closed at another record high. The S&P and Dow industrial average did not fare as well.  Each closed lower with the Dow industrial average the worst performer of the 3 major indices. The final numbers are showing: Dow industrial average fell -269.11 points or -0.76% at 35100 S&P index fell -15.4 points or -0.34%

Buyer’s taking the pair higher today The USDCAD has been stepping higher today, and in the process has been able to extend above overhead technical resistance levels.  The last break higher has taken the price above its 50% midpoint of the range since August 27 and the 200 hour moving average at 1.25933. The break above

Dollar slightly ahead but ranges are still relatively narrow The greenback is recouping some losses from Friday to start the new week but so far the moves in the major currencies space are still rather unexceptional. The antipodeans are the notable laggards for now but AUD/USD is keeping within a 30 pips range and is

Oil still down by a little over 1% on the day so far Eamonn had the story earlier today here. The news is supposedly weighing on oil prices to start the week but I would also argue that is does have some technical undercurrent to it. The climb towards the end of last week stalled

200 day MA at 1.25326 The USDCAD yesterday moved up to test its falling 200 hour moving average (green line). Sellers leaned against that level and in doing so kept the sellers in control. The price ultimately fell below the recent swing lows down to 1.2568.   Today, the pair took a another step with a fall below its 200 day

100 hour MA and swing level at 130.169 The EURJPY has been marching higher since bottoming on August 20. The price had been up for 9 of the last 10 trading days coming into today. The price is currently lower after a double top near 130.736. The subsequent fall took the price below a swing area defined from highs on Wednesday, a few lows

Retraced the entire August move to the downside now The AUDUSD has risen 48 Alaska trading days. Over that time period, the move down in the month of August from 0.74259 to 0.71059 has been completely retraced (and then some).  The price action today has taken the price above the August 5 high at 0.74259. Once broken, the price has

USD falls the most vs the NZD The USD fell versus all the major currencies is weeks with the exception of one…the CHF. The US dollar fell the most versus the NZD and AUD as those currencies benefited from risk on sentiment, somewhat improving China and expectations that as Covid spread slows, central banks would start to look toward reversing some of

S&P and NASDAQ close lower  The major indices are closing mixed with the Dow and S&P lower, while the NASDAQ close higher and at a another record. The gain in the NASDAQ was the third gain in a row. S&P and NASDAQ have the second straight weekly gain  Russell 2000 snapped a three day win streak  Dow lower for

NZD/USD is up 0.3% on the day, trading to its highest since 16 June The aussie and kiwi are the two movers so far on the session, as they are continuing their good form over the past two weeks in pushing higher against the dollar. The moves aren’t much (AUD/USD pushing past 0.7400 and testing

Modest gains/changes for most of the major indices The major European indices are closing moderately higher.  Provisional closes are showing: German DAX, +0.1% France’s CAC, +0.1% UK’s FTSE 100, +0.2% Spain’s Ibex, unchanged Italy’s FTSE MIB, +0.2% In other markets as London/European traders look to exit: Spot gold is down $-2.40 or -0.13% at $1810.81.

NZD/USD is up 0.2% on the day, contesting its 100-day moving average Invest in yourself. See our forex education hub. From a technical perspective, the pair is running into a bit of a critical juncture at this stage as price tests the 100-day moving average (red line) @ 0.7081 and is closing in on the