Dollar moves lower

Crude oil has continued its move higher and has now cracked the $57.00 levels. It trades at $57.23 up $1.58 or 2.82%.

Gold is also moving higher. It is up $9.69 or 0.76% to $1279.10.

The dollar has finally moved as well.

  • The EURUSD has moved up to 1.1600 area after trading mostly in 1.1580-90 area for most of the NY session. This is near the closing level from Friday.
  • The USDJPY has moved below the 100 hour MA at 114.00 and looks to test the 200 hour MA and 50% retracement of the move up from the October 31 low at 113.839. A move below is more bearish with 113.629 the next target. After that 113.42 is the October 6th swing high and 112.957 is the 50% of the 2017 trading range.