Technical Analysis

GBPJPY consolidates with the 100/200 hour MAs holding support at the US lows

100/200 hour MAs at 157.02 area The GBPJPY is consolidating with the 100/200 hour MAs holding support at the US session lows. The two MAs come in around 157.02. The low price for the US session cuts across at 157.009.

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DOW Tue 26 Oct

Dow industrial average turns negative on the day

NASDAQ also turned negative on the day The NASDAQ index is now trading at 15217.46. That's down -9.43 points or -0.06%. The high reach 1.03%. 

USDJPY Tue 26 Oct

The USDJPY pushes to the upside but stays in the range

The price is above the 100/200 hour MA The USDJPY has pushed to the upside in trading today helped by buoyant stock trading. The move has inched above the 100/200 hour MAs at 113.90 to 114.017.  The last 7 or so hours have been able to hold above the low of that area. The current price is above the MAs with the price at 114.156 currently.

SP Tue 26 Oct

Dow and S&P make new intraday highs as stock trading gets underway

NASDAQ leading the way ahead of Microsoft and Alphabet earnings after the close A snapshot of the market currently shows: In other markets In the forex market, the AUD is the strongest of the majors, while the JPY remains weakest in the snapshot.  The US dollar is turning more mixed last declines against the GBP, CAD, AUD and NZD are retraced in early US trading. 

GBPUSD Tue 26 Oct

GBPUSD retraces back to the 100 hour/day MAs. Finds buyers

The 200 hour MA and trend line held support in the Asian session. The GBPUSD has retraced back to the 100 hour/day MAs near the 1.2388 area after moving toward the highs from last week (near 1.38337 - the high reached 1.38287 today).  The holding of both those MAs will be eyed by traders for bias clues in what has been an up and down market near high levels since October 19.  

EURUSD Tue 26 Oct

EURUSD falls corrects above 200 hour MA, but moves back below in early NA trade

The 200 hour MA comes in at 1.16224 The EURUSD fell sharply yesterday, but rebounded into the US close. The corrective high stalled the just ahead of swing levels from last week (and the week before) between 1.16165 and 1.16238.

FOREX Tue 26 Oct

The NZD is the strongest and the JPY is the weakest as NA traders enter for the day

The USD is mostly lower The NZD is the strongest and the JPY is the weakest as North American traders enter for the day. The USD is mostly lower with the JPY and the CHF indicative of a "risk on" sentiment in the market. The GBPUSD is also stronger and broke back above it's 100 hour and 100 day MAs at 1.3788 area.  Stocks are higher after Facebooks earnings survived lower revenues and user data. The stock was buoyed by an announced a $50B stock buyback. FB stock is up about $4 in premarket trading at $332.80 which is up from recent lows at $324. Tesla is the next $1T company after its run yesterday added $120B after an announcement of a 100,000 Hertz order worth $4.2B (go figure, but don't fight it at least for now. The buyers are in control.).  Amazon and Microsoft report after the close. Visa and Twitter also report.  

EURUSD Tue 26 Oct

Dollar eases as risk keeps firmer on the session

Dollar slips against major currencies, except against the yen The greenback is mostly lower now as it slumps to fresh lows on the day against the euro, pound, franc, loonie, and kiwi currently. The yen is also marked lower as risk sentiment is still leaning towards the positive side ahead of North American trading.

GBPUSD Tue 26 Oct

Cable buyers look to retest last week's highs on shove back above 1.3800

GBP/USD trades up by 0.4% to 1.3820 on the day That has seen the pound push up to lead gains in the major currencies space, with cable rising from 1.3780 earlier to 1.3820 - pushing past its 100-hour moving average (red line). That comes as buyers somewhat defended a couple of tests of its 200-hour moving average (blue line). As such, the near-term bias is now more bullish.

AUDUSD Tue 26 Oct

AUD/USD pares early advance as dollar holds steadier on the day

AUD/USD falls from 0.7515 earlier to 0.7490 currently Of note, price is now contesting its 100-hour moving average (red line) @ 0.7491 and a break below that will see the near-term bias switch to being more neutral instead.

USDJPY Tue 26 Oct

USD/JPY brushes against the 114.00 level again to start the session

USD/JPY trades up to test the 114.00 level The yen is the laggard to kick start the session as the rest of the major currencies bloc are keeping steadier for the most part amid lighter trading conditions so far.

USDCAD Mon 25 Oct

USD/CAD retreats after test of 1.2400 as uneasy truce continues

Higher highs in this pair despite cycle highs in oil This is an interesting week for USD/CAD. The Bank of Canada decision is Wednesday and it will include a taper but could also include a more-hawkish message or a pushback against a market pricing in four hikes next year.

USDCAD Mon 25 Oct

USD/CAD tests Friday's high as early US energy selling hits again

USD strength and oil giving back gains are factors Watching the oil market in the past week weeks, there's been a clear pattern of selling early in US trading only for the buyers to return late in the day.

BRENT Mon 25 Oct

Brent crude nears the 2018 high. Goldman Sachs sees upside risks

Oil at the highs of the day Headline are pointing out that WTI hit $85 today for the first time since 2014 but the chart to watch at the moment is brent, which is having a look at the October 2018 high of $86.74.

EURUSD Mon 25 Oct

EUR/USD eases to fresh lows on the day, inches towards 1.1600 level

EUR/USD falls to 1.1611 and below key near-term levels It has been a rough time for buyers amid the bounce last week as they have struggled to get above the 38.2 retracement level of the recent downswing around 1.1671 and that seems to be enough for sellers to turn things around currently.

USD Mon 25 Oct

Dollar steadies in mixed trading so far

Dollar trades more mixed in European morning trade EUR/USD was keeping around 1.1660 earlier on but has fallen to a session low of 1.1624 with price even dipping back below its 100-hour moving average:

GOLD Mon 25 Oct

Gold buyers keep things interesting from a technical perspective to start the week

Gold is up 0.4% to test $1,800 today But today, buyers are not letting up as we see a push back towards the figure level and more importantly, flirting with a break of a few key levels on the charts.

OIL Mon 25 Oct

Oil continues its good form to start the new week

Oil stays in the hunt of a tenth consecutive weekly gain WTI is up 0.7% on the day to $84.30 levels with the high earlier touching $84.76 as gains continue to stay the course in the oil market.

USD Mon 25 Oct

Dollar a touch on the softer side ahead of European morning trade

The dollar and yen are the laggards on the day The latter in particular is trailing behind against the major currencies bloc but the dollar is also in a bit of a softer spot as we get things underway on the week.

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