Technical Analysis

USD/CAD keeps lower to start the week but key near-term levels still at play

USD/CAD drop today defended by the 100-hour moving average again The pair is keeping lower after the drop yesterday saw price action break back below its 200-hour MA (blue line). Sellers defended that level in early trades today before moving on to retest the 100-hour MA (red line) around 1.3225 earlier.

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Dow closes at the highest level since February 24, and just 2.6% from unchanged on the year

Dow and S&P are up for the 7 days in a row The final numbers are showing: The biggest winners in the Dow included:


European shares end the session higher

German DAX near unchanged in up and down session The provisional closes are showing: In the European debt market, the benchmark 10 year yields are ending the session lower.

USDCAD Mon 10 Aug

USDCAD moves lower and now trades between 100 and 200 hour MAs

Buyers and sellers back in battle. The USDCAD based near its 100 hour MA on Friday (dipped below it after the jobs report), and quickly reversed higher. The run to the upside moved above a swing area at 1.3369 – 1.33766  on its way to a high just below the 1.3400 level  (the high reached 1.33981).

NASDAQ Mon 10 Aug

NASDAQ index taking it on the chin

S&P now negative The NASDAQ index is taking it on the chin today. It is currently trading down 140 points or -1.27% at 10872. The S&P index is also lower by 7.7 points or -0.22% the 3343.50.

DOLLAR Mon 10 Aug

Dollar moves lower across the board

GBP, CAD, AUD all make new highs vs the greenback The dollar are moved lower across the board over the last few minutes. The greenback is trading to new session lows verse the GBP, CAD and AUD. It has moved to NY session lows vs the other major pairs. 

USDJPY Mon 10 Aug

The USDJPY follows the technical clues

Trend line and ceiling stalls the rally. 100 hour MA and trend line are support The USDJPY is marginally higher on the day with price action above and below the Friday close (at 105.92)  

SP Mon 10 Aug

US stocks open and move higher

Dow industrial average leads the way The snapshot of the market currently shows: in the US debt market yields remain lower: Spot silver is up $0.36 or 1.3% at $28.67

GBPUSD Mon 10 Aug

GBPUSD trying to stay below its 200 hour moving average and topside trend line

Pair has traded above and below unchanged today in an up down and up session The GBPUSD as seen the price move higher than lower and now back higher again. In the process the price has traded above and below its closing level from Friday at 1.3050. The price currently trades at 1.3065. 


The EURUSD runs away (and down) from the 200 hour MA/swing area today

Moves toward a cluster of swing levels on the downside On Friday, the EURUSD fell below its 200 hour moving average and stay below that level. Recall from earlier in the week on Monday and Tuesday there were breaks below the moving average but those two breaks failed. Friday was different, and the price close below the moving average level (closing level was 1.1785).

FOREX Mon 10 Aug

The USD is the strongest and the CHF is the weakest as NA traders enter for the day

The new week is off and running As the week gets underway, the USD is the strongest and the CHF is the weakest. The CAD is fighting the USD for the strongest of the majors.  Pres. Trump signed 4 executive orders to front run the legislative process including $400 in emergency unemployment benefits including the first $100 from the states.  Stocks are higher. Precious metals are mixed.  Oil is higher after Aramco gave an upbeat assessment of demand.  Yields are lower. 

SP Fri 7 Aug

S&P and Dow close higher for the 6th consecutive day

NASDAQ 7-day win streak broken today A look at the final numbers shows: The Dow had his best week since June 5.. The S&P index at its best week since July 2.


WTI crude oil futures are settling at $41.27

That is down $0.68 or -1.62% The high price today reached $42.22. The low price extended to $41.06. The last 6 weeks has seen the crude oil price settle between $40.27 and $41.29. 

NASDAQ Fri 7 Aug

New lows for the Nasdaq and S&P indices

Nasdaq leads the way lower today. The NASDAQ and S&P are reaching new session lows. The NASDAQ is leading the way with a decline of 1.67%. It is currently down 186 points to 10921.44.


US dollar stronger but off the highs. What are the charts saying now?

London/European traders exit The USD is stronger but off the highs as London/European traders exit for the weekend.  The greenback is the highest vs. the NZD (up 1.21%). It is the least high vs the JPY (up 0.31%). Versus the EUR, it is up 0.81% and is higher versus the GBP by 0.72%.  

SP Fri 7 Aug

S&P and NASDAQ turned back positive

Dow industrial average is still negative The S&P and NASDAQ index have turned back positive. The S&P is up 0.03% the 3350.34. The NASDAQ index is up 0.15% at 11124.83. The S&P index has been up for 5 consecutive days. The NASDAQ index has been up for 7 consecutive days.

USDJPY Fri 7 Aug

USDJPY catches the dollar buying fever

Runs away from the 100 hour MA The USDJPY has caught the dollar buying fever and trades at its highest level since Tuesday.  That is not saying much as the pair has been in a narrow range of 105.293 to 105.866 since Tuesday afternoon.  That is not a lot of price action.

NZDUSD Fri 7 Aug

NZDUSD runs from swing high area to swing low area

Breaking/test the lower swing area ag 0.6613-195 The NZDUSD moved higher earlier in the session and in the process tested a swing area between the 0.6688 to 0.66925. I spoke about this area in a post on the pair yesterday.

SP Fri 7 Aug

US stocks trading modestly lower after the better jobs data

Major indices down about -0.20% to -0.35%  A snapshot of the major indices currently shows: Each of the major indices on winning streaks. The Dow and S&P have risen for 5 consecutive days while the NASDAQ index has risen for 7 consecutive days. The NASDAQ index has been making new all-time highs as its winning streak advances. 

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