Technical Analysis

Stocks reverse and trade at session lows. USDJPY tilts lower too.

S&P down -13. Nasdaq down -50 points The US stocks have turned to the downside and trade at session lows. The USDJPY also followed their move and is giving up some of the trend gains too.

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SP Mon 23 Apr

US stocks end the session lower but a late day bounce cuts some of the losses

Nasdaq hurt the most. Alphabet earnings beat The major US stock indices are ending the lower. However there was a late day bounce that cut into some of the losses.

GBPUSD Mon 23 Apr

GBPUSD trades to session lows. Stays below daily trend line today.

High today stalls at underside of broken trend line The GBPUSD is trading at a new session low at the 1.3937. That is the lowest level since March 19th. The April 5th low at 1.39648 was breached today too.  

SP Mon 23 Apr

US stocks open with modest gains, but giving them up.

Small rebound at the start of a big earnings week This week will have a ton of earnings releases including Amazon, Facebook, Google (today),and Microsoft - just to name a few. The major indices opened higher but is retracing back toward unchanged levels as I type. 

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USDJPY Mon 23 Apr

USDJPY trades to the 2 month high. Stepping higher.

Took out the February 21 high. Highest level since February 13th.  Double top today may make topside sticky.... The USDJPY broke above the February 21 high price at 107.895. The high last week reached 107.851. The break today, has opening up the upside, and we have seen more momentum. The pair has moved to a high of 108.28 so far. We trade right near that high as the US stock market gets going with  some modest gains.

EURUSD Mon 23 Apr

What's key for the EURUSD? The pair looks to extend the month's range/test 100 day MA

The range for the month is a low 200 pips, but lots of support below.   The EURUSD has moved to a low of 1.22224 today. The low for the month comes in at 1.22139. 

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GBPUSD Mon 23 Apr

Cable looks to snap April winning streak

GBP/USD has risen in every April since 2005 The above shows the seasonal pattern over the last ten years and in April this year it is currently down by 0.46%. The move has a lot to do with the data points released last week, as poor wage growth, inflation, and retail sales figures prompted a massive turnaround in sentiment ahead of the BOE's May meeting.

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AUDUSD Mon 23 Apr

AUD/USD falls to year's low, what's next?

AUD/USD slips to a low of 0.7636, lowest level since December last year After failing to break above the 200-day MA (blue line) again last week, the upside momentum hit a snag and momentum has switched back to sellers at this point. Although the pair managed to break the "lower highs, lower lows" pattern through the rebound in the last two weeks, the fall since Thursday highlights the struggles faced by the aussie this year.

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NZDUSD Mon 23 Apr

NZD/USD tests key support levels once again as the dollar rises

NZD/USD falls below key support levels, will they hold up again? The pair touches a low of 0.7180 on the day, falling below the pivotal 38.2 retracement level of 0.7187 and the 200-day MA (blue line) @ 0.7184. Those two levels have helped to stall any downside move in the pair on at least four tests so far this year.

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GBPUSD Mon 23 Apr

Cable takes refuge from nearby support level, what's next?

GBP/USD back above 1.4000 again after a brief dip below the figure level The 30 January low of 1.3980 is the level to watch for any downside move in the pair, and the low today hugged near 1.3990 before bouncing back up again. The support level helped to stall downside moves earlier this month, and will prove to be a battleground for the time being between buyers and sellers.

USDJPY Mon 23 Apr

USD/JPY retests key upside hurdle near 108.00

USD/JPY has been on the rise in April The yen is a little weaker as we start the day, and that has seen USD/JPY make another run at the 61.8 retracement level on the daily chart @ 107.87. It is a level I have pointed out as a key break for a return to the upside before this, and remains a level that buyers will have to break through.

EURUSD Mon 23 Apr

EUR/USD looks poised for another key downside test

EUR/USD breaks the long-term trendline support for the second time this year Friday's daily close saw the pair break the long-term trendline support from April last year once again. The first time that the trendline broke was at the start of this month, but the pair remained supported by the 8 February low of 1.2212.

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GOLDMAN-SACHS Sun 22 Apr

Goldman Sachs says AUD/USD is approaching a critical pivot at 0.7630

ArticleBody From Goldman Sachs' weekly technical analysis note The Charts That Matter Next Week Although I picked out the AUD in the headline above, there is plenty more.

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BONDS Fri 20 Apr

US 10-year yields rise above the February high

That's trouble US 10-year yields are up 4.5 bps to 2.955%. That's fractionally above the February high and sure to cause increasing jitters in broader markets.

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USDJPY Fri 20 Apr

USD/JPY tests the mid-February high and then backs off

USD/JPY shrugs off stock market weakness It's a push-and-pull with USD/JPY on most days. Today it's weakness in the stock market trying to push it lower but higher Treasury yields are the overwhelming force, pulling it higher.

USDCAD Fri 20 Apr

Canadian dollar falls to the lowest since April 8 on soft retail sales and inflation. What's next

Canadian dollar slumps The Canadian dollar is lower for the third consecutive day after disappointing data on retail sales and inflation. That has pushed USD/CAD to the best levels since April 8.

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GBPUSD Fri 20 Apr

GBP/USD continues sells off with a dovish Carney

Carney has the wings of a dove What a bad week for the pound. Earnings, inflation and retail sales all down. On top of the bad data Carney started to throw doubt on a May hike for the Bank of England.

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SP Thu 19 Apr

Stocks end the session lower. S&P back below 100 day MA.

Nasdaq down -0.78% The US major stock indices are closing lower with the tech heavy Nasdaq suffering the most. The chips stocks did not do well today as Taiwan Semiconductor Manufacturing - a key to partner to Apple and Nvidia - lower their revenue forecast for the 2nd quarter. Morgan Stanley said apples iPhone was the reason for the poor guidance.

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ROSENSTEIN Thu 19 Apr

Rosenstein is said to tell Trump he is not a target of the Mueller probe: Bloomberg

Deputy Attorney General Rosenstein Trump said to tell associates he does not need to remove Mueller. So who is the target? The S&P has ticked higher . It was trading around the 2687 and is currently trading at 2695. The index is still down -14.66 points. 

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