Technical Analysis

Major European indices rise to start the trading week The major European indices are ending the session higher as the new trading week begins. The provisional closes are showing: German DAX, +0.09% Francis CAC, +0.22% UK’s FTSE 100, +0.55% Spain’s Ibex, +0.77% Italy’s FTSE MIB, +0.65% Looking at the German Dax daily chart, the price

Oil up 0.3% to $75.40 levels currently As much as there is a delay to the OPEC+ decision, oil bulls aren’t overly worried as the main sticking point there is the UAE wanting to increase its baseline output. Sure, they are blocking a deal/proposal for a 400k bpd increase in output per month starting from

Seventh record day in a row for the S&P index The S&P index and Dow industrial average are trading their high levels and are looking to both closed at record levels. For the S&P index, it would be the seventh consecutive record high close for the index.  For the NASDAQ, a new high be the second consecutive record close.   A snapshot

The CAD is the strongest The USD is now the weakest of the major currencies.  The CAD remains the strongest.  The greenback is trading to new session lows verse the GBP, CHF, CAD, AUD and NZD. The pair is just off it’s session low vs the JPY. The EUR and USD are battling it out for the weakest of

New highs for the EURUSD The EUR lagged other currencies in making new lows vs the USD, but the EURUSD has just moved to a new high (new dollar low). The pair traded to a new high of  1.18602, taking out the earlier high at 1.18588.    The next targets comes against the  38.2% retracement of the move

Down seven cents or -0.09% The price of WTI crude oil futures are settling at $75.16. That’s down seven cents or -0.09%. The high price reached $75.62. The low price extended to $74.41 Looking at the hourly chart below, the price has been fluctuating up and down trading today as the OPEC+ meetings continue without a

NASDAQ closes at a record and so does the Dow… The S&P index is up for the seventh straight day and closes at a record level once again.  It is the 7th record high close for the S&P.   The NASDAQ index also closed at a record today that is the second consecutive record close for

GBP/USD under technical pressure below 1.3800 Invest in yourself. See our forex education hub. The range for today remains a bit more subdued going into European trading but the pair is now holding near the lows @ 1.3753 with the dollar keeping steadier so far. The firm break below 1.3800 yesterday was the first since

Nasdaq lags and closes marginally higher The major US indices are closing the day higher with the S&P index leading the way. The S&P index is up for the six consecutive day and closes at a record level. New highs 214 versus new lows of 11 Dow closes near session highs Dow up for the third

The pound not getting any love as BOE governor Bailey plays down persistent inflation pressures Invest in yourself. See our forex education hub. Cable got a decent bounce off 1.3800 yesterday amid dollar strength, moving back up to 1.3830 levels, but that is quickly fading at the moment in a drop to 1.3794. While the

S&P closes at a record high The US stocks are ending the session mixed with the Nasdaq down, and the Dow and S&P higher.  The S&P closed at a record high. Today is month end, quarter end and the end of the 1st half of the year.  The numbers for each are showing:  S&P is

Not a whole lot of action though The dollar continues to hold its ground on the week as it inches a little higher across the board, though this is perhaps just some stretching for the ranges of the day. It has been a relatively quiet start to proceedings, with EUR/USD resting in a 25 pips

All major indices close higher The S&P in NASDAQ are both closing at record high levels S&P close higher for the fourth consecutive day Dow is up 185 points at the highs for the day. Give up most of those gains NASDAQ up for the second straight day The Dow industrial is on track for

Major currencies still mostly little changed The greenback is keeping steadier for a second day running as it claws back some losses from last week, though the ranges for the day are still relatively narrow. EUR/USD is down 0.1% to 1.1906 while GBP/USD backs away from a test of key near-term resistance levels yesterday here

Dow lags as Boeing, Chevron, AMEX slumps The S&P and NASDAQ index closed at record high levels and near highs for the day. Facebook shares gave the NASDAQ index a boost in the last few hours of trading as the district court dismissed the FTC antitrust case against Facebook (up 4.18%). Intel (up 2.81%) PayPal (up

GBP/USD up 0.4% to 1.3940 to start European trading The pound is among the early movers to start the day as cable jumps up from 1.3900 to 1.3940 but faces a bit of near-term resistance from the confluence of the key hourly moving averages @ 1.3928-34 currently. There was a decent retracement last week that

Price dipped below the March low at $776 The price of lumber has moved to the downside today and in the process is moving away from its 200 day moving average at $867.67 (green line in the chart below). It is also falling below the 61.8% retracement of the move up from the April 1 low at $817.60.  

Runs away from its 100 hour moving average now The price of bitcoin tried to move above its 200 hour moving average earlier in the day. Yesterday, there was another attempt above that moving average but both tries failed. Since failing today, the price has been stepping down in a steady fashion. More recently, the price fell back below its