Dow falls over 600 points. Nasdaq down -3.0% It was an ugly day for the US equities. The Dow fell over 600 points. The Nasdaq is closing down -3%. UGLY. The escalation of the trade ward is to blame. Pres. Trump has threatened retaliation for the new China tariffs. He also continued the criticism of
Below 100 day MA and hourly MAs too The S&P has tumbled back below its 100 day MA at 2910.62. The low has reached to 2873.92 so far. The low for August comes in at 2822. The 200 day MA is at 2802.71. Drilling to the hourly chart below, the index is also cracked below its
GBP/USD falls to a session low of 1.2195 ForexLive The pound is losing some further ground in the European morning with cable now threatening to slip back under the 1.2200 handle. Price has fallen to a session low of 1.2195. As mentioned earlier, topside resistance remains at the 50.0 retracement level @ 1.2267 and that
50 day MA at 8052.20 stalled the high again today… The Nasdaq index is down -34 points or -0.43% at 7986.96. The low today reached 7937.12 and the high extended to 8048.58. At the high the index remained below its 50 day MA at 8052.246. At the lows, the index dipped below the 100 day
Trades above and below its 100 hour moving average today The USDJPY continues to consolidate in up and down trading action. Looking at the hourly chart above, a top side trendline currently comes in at 106.63 and a bottom side trendline comes in at 106.25. In between the two trendlines sit the 100 hour moving average 106.444 currently. The
USD/JPY falls to a session low of 106.29 ForexLive Of note, price has now fallen back below the 100-hour MA (red line) @ 106.43 after several attempts by sellers to break below the level since overnight trading. A hold below the level will open up the path towards a test of the 200-hour MA (blue
Ignores the 2-10 going negative again The US stocks erased the declines from yesterday (and then some). The gains also ignored what was a flattening of the yield curve to flat 2-10s again (although positive now by a basis point or two). The final numbers are showing: The S&P index +23.92 points or 0.82% at 2924.43
Below the 1.1100 to 1.11115 area If you have been reading my posts in the Technical section of Forexlive on the EURUSD, they have the been saying the same thing (CLICK here and scan for EURUSD posts). There is resistance in the 1.1100 to 1.11115 area. A move above (and staying above) would be more
GBP/USD eases to a session low of 1.2132 ForexLive Price now falls towards a test of the 100-hour MA (red line) @ 1.2130 as buyers are losing further momentum on the day. Topside price action remains limited by near-term resistance around 1.2175 overnight and since then, it’s been a steady track lower for the pair.
The S&P index fell -23.11 points or 0.79% at 2900.53 The NASDAQ index fell -54.25 points or -0.68% at 7948.56 The Dow industrial average fell -173.35 points or -0.66% at 25962.42 The major indices open lower but did recover midday and traded marginally higher before reversing and moving back down. The European indices were higher earlier in the day, but gave up
Price backs off after test The GBPUSD spiked higher on the Merkel comment on Brexit. The run higher took the price quickly above the 200 and 100 hour MAs and raced above the highs from Friday and Monday. However, the pair stallled in a swing area defined by August highs in the 1.21749 to 1.21901
Cable inches to a low of 1.2111 on the day ForexLive Price is slipping towards a test of the 100-hour MA (red line) @ 1.2111 currently with the 200-hour MA (blue line) @ 1.2000 seen nearby. Buyers managed to lean on those levels for support yesterday and it’ll be a test of their resolve once
100 and 200 hour MA are converged below. The GBPUSD is trading near midrange in an up and down price action today (midpoint is 1.2138). The high today stalled short of the high from Friday and a swing area at 1.21749 to 1.21901. The high could only get to 1.2172. The fall from the high
Trouble in paradise? ForexLive Gold buyers look to be exhausted at this point as price starts to fall back below the 200-hour MA (blue line) for the first time since 1 August. Price tested the key near-term level several times since Friday but ultimately, sellers are now winning out as the dollar holds firm amid
EUR/USD trades narrowly close to 1.1100 to start the week ForexLive The technical picture is very much similar to that of Friday but this time price is just under the 1.1100 handle instead of holding just above it. Sellers managed a downside move towards the end of last week but ran into swing region support
Major indices close up 1.2% or better The major US indices are closing with provisional gains of 1.2% or better. The numbers are showing The S&P index rose 41.12 points or 1.44% at 2888.71 The NASDAQ index rose 129.38 points or 1.67% at 7895.99 The Dow rose 306.62 points or 1.20% at 25886.01. For the week, despite the solid gains today, the major indices are ending the
CFTC commitment of traders: GBP shorts trimmed modestly. JPY longs increased. Coming Up! Title text for next article Technical Analysis Forex futures positioning data among noncommercial traders for the week ending August 13, 2019 EUR short 47K vs 44K short last week. Shorts increased by 3K GBP short 96K vs 102K short last week. Shorts decreased by
MA will be remembered for the bounces on dips… The price of gold is trading down $-9.08 at $1514.21. The low price extended to $1503.77. The high price reached $1528.10 today. At the session low today, the price stalled at its 200 hour moving average (green line in the chart below). On Tuesday, its low also approached the 200 hour moving average and found buyers.
NASDAQ index down only -0.69% on the week. S&P index -0.94%. Both were down over -3% at the lows for the week The Nasdaq has ticked to a new session high and is down only 0.69% on the week. At the lows, the Nasdaq fell -3.06% from the close last week at 7959.84. The price just reached
New session lows for USDCAD The USDCAD is trading to a new session low for the day and in the process, has cracked below the 100 day MA at 1.3292 and now looks to test the 100 hour MA at 1.32752. Below that the 200 hour MA comes in at 1.3266. The 50% of the
Solid gains for the major indices The European stock markets are closed for the day and for the week and they are ending with solid gains after a not so solid trading week: German DAX, +1.2% France’s CAC, +1.2% UK’s FTSE, +0.7% Spains Ibex, +1.1% (best day in six months) Italy’s FTSE MIB, +1.51% For the week,
Major indices all up over 1% The US major stock indices are all trading above 1% on the day: S&P index, +1.33% NASDAQ index, +1.57% Dow industrial average, +1.05% Looking at the daily charts of each, the price action this week took the price below the hundred day moving averages, but prices have been able to stay above lower
Tests end of July/early August swing levels. The EURUSD is lower today. The GBPUSD is higher. Those pairs are moving in opposite direction to the USD. The algebra of that equation points to a lower EURGBP. Looking at the hourly chart of the EURGBP above, the price has been trending lower. Technically, the pair yesterday
Sellers are looking to chew through bids at the figure level ForexLive That saw EUR/USD fall quickly in a move to test the 1.1100 handle and price has since continued to flirt with the figure level as we approach European trading today. Of note, there are also large expiries lined-up so that may help to
The 1.20968 to 1.21057 is home to the The GBPUSD is back down testing a swing area which before today was home to swing highs for Monday, Tuesday and Wednesday. Earlier in the NY session the area was tested and held. We are back down retesting the area. A move below would be more bearish.
Above week highs and 200 hour MA The GBPUSD got a boost from better than expected retail sales, but the price action slowly moved higher, breaking above the 1.2100 level and swing highs for the week in the 1.20968 to 1.21057 (the high reached 1.21135) and the 200 hour MA (green line currently at 1.21082).
Worst day for the Dow since December The major indices are trading down sharply with the Dow closing at the lows and down -800 points and -3.05%. The Nasdaq was also down over -3% (or -3.02%). The S&P was the best relative performer with only a 2.93% fall on the day. For the Dow, the
Market is stalling but not going far The EURGBP is testing the 200 hour MA and 38.2% retracement at the 0.92337 level (both technical tools are at the level). The price is not running through the level (although there have been some peaks below the line over the last 4 hours including the current bar),
Support is well defined. Resistance levels are known. But the market is stuck The EURUSD is stuck. German GDP was negative. EU industrial production was weak as well, but the EURUSD could not get below the 1.1162-67 area or the low of “the range” (red boxed area). Today the lows came in at 1.11642 and
Pair has been trading between the 100 and 200 hour moving average over the last six hours Traders are pushing the USDCHF back up to retest its 200 hour moving average at the 0.97633 level. That moving average was tested earlier in the day on the initial run higher. Since then, the pair retested the 100 hour moving average at 0.9729