Pair trades between 50% retracement above and 100 day MA below.
The GBPUSD has settled in with resistance up at the 50% of the trading range since June 10. That level comes in at 1.25313. The high price today reached 1.25293.
Him in the The Dow leads the way today
The US stock markets are open and it is a another positive day (at least at the opening). The major indices are all trading up over 1.3%. The Dow industrial average which fell yesterday by -0.3% is a leading the way to the upside with a gain of near 1.7%. The S&P index and NASDAQ index are also trading quite well. Recall the NASDAQ index closed at a record high level yesterday.
Dips yesterday and today have found buyers leaning against the MA level.
The current retest is once again finding buyers against the level. It will take a move below the moving average level and then the 100 hour moving average at 1.2339 to shift the bias more in the favor of the sellers. Until then the dip buyers remain in play against that moving average level.
Buyers pushing up the pair.
The USDJPY has move to a new session high after the better than expected jobs report and follows the moves of most of the other currency pairs over the last few minutes of trading.
Stocks higher. Rates higher.
The dollar is him relatively little changed after the stronger than expected US jobs reports. They were bounce bit by the higher initial claims and continuing claims for the week.
Jobs day in the US
Looking at the ranges and changes, the USDJPY and USDCAD are both trading near unchanged on the day. The NZDUSD is trading at the highs for the day as it trends higher. The AUDUSD is also higher but gains are modest. The ranges in the major pairs vs the USD and the major crosses are mostly modest and below the 22 day averages (about a month of trading - see red line in the lower chart below). The market is waiting for the numbers (or so it seems).
EUR/USD rises to a fresh one-week high
The dollar is softening across the board as we see stocks push higher on the session, with the DAX now up by 2% and US futures also posting 1% gains in European morning trade.
EUR/USD trades to a session high of 1.1276
The turnaround in the risk mood spurred a reversal in EUR/USD yesterday, having fallen to a low of 1.1185 where near-term support around 1.1191 held before bounding to a high of 1.1275 and then retreating a little.
Lots of support between 1.2461-65 area
, there is lots of support at the 1.2461-65 area:
As per an earlier
The last 2 hourly bars have bottomed at 1.2467 and 1.2465 respectively. The price is currently trading back up at 1.24857 after successfully holding support. Going into the new trading day that area remains a key support level. Stay above and the buyers remain in control.
Stay above keeps the buyers in control
The EURUSD peaked in the US morning session at 1.1278. The price has rotated an up and down fashion to the downside over the last 5 or 6 hours. However the price did find support right at the 200 hour moving average (green line in the chart below) at 1.12424. The price low just reached 1.12426. We currently trade up at 1.1255.
NASDAQ index up 1.29%
The index is currently trading at 10184.40. That's up 125.83 points or 1.25%. The high just reached 10191.96.
The S&P index is currently up 23.5 points at 3123.78. Its it's high just reached 3127.06.
Also above the 38.2% of the move down from the June 10 high.
The GBPUSD as extended above - and away from - its 100 day moving average at 1.2464. The price is also moved above its 38.2% retracement of the move down from the June 10 swing high. That level comes in at 1.24652.
The precious metal is down $30 from the high
The price of gold reached a new high going back to 2012 at $1789.28 (at the London session high). Since and however the price has plunged $30 from the high to the low (low reached $1759.36). The price currently trades at $1762.15.
Price doesn't fall below upward sloping trendline and 100 hour moving average in the process
The USDJPY is trading lower on the day after a move above its 100 day moving average late yesterday and that the start of the new trading day faded.