Technical Analysis

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The NASDAQ index has now joined the S&P and Dow in reaching new all time

The NASDAQ index moves above yesterday's high at 12439.02


Dow Jones and S&P reach all time new highs

NASDAQ index remains short of yesterday's all-time high price level The S&P index reached a high price of 3687.96. That took out the high price from yesterday at 3682.73.  

BONDS Fri 4 Dec

All eyes on bonds: US 30-year bond yields near the June/Nov double top

What happens when the dam breaks? It's starting to feel like it's only a matter of time until the bond market breaks. The long end is leading the way with US 30-year yields up 8.5 bps to 1.74% today. That's a heartbeat away from the June/November double top at 1.76%.

AUDUSD Fri 4 Dec

AUDUSD rebounds off support after jobs report dip

38.2% and high from November stalls the fall after the job report dip The AUDUSD dipped after the jobs report and in the process tested the 38.2% of the trading range for the week.  

DOW Fri 4 Dec

US major indices shrug off the weaker jobs data. Open modestly higher

S&P index and Dow lead the way higher - S&P index up 12.28 points or 0.33% of 3678.55 - NASDAQ index up 9.5 points or 0.08% at 1387.60 - Dow up 80 points or 0.27% of 30049

GBPUSD Fri 4 Dec

GBPUSD moves above the 2019 swing high at 1.35139 area

Trade is the highest level since May 2018 The area between the 2020 high at 1.34816 and the 2020 high at 1.35139 is now a risk level for longs/buyers. Stay above is more bullish.

USDJPY Fri 4 Dec

USDJPY bounces higher and toward the targets in the middle of the range

This week traded the high to low trading range The USDJPY bottomed yesterday at 103.665. That was just above the November 18 low of 103.646.  The price has bounced up toward the 38.2% retracement at 104.078. We are currently trading at 103.93. The inability to move below the low, sent the price higher.

EURUSD Fri 4 Dec

EURUSD falls to new session low after jobs report

Declines take the price below swing area between 1.2153-1.2164 The EURUSD has moved to new session lows after the weaker than expected jobs report.  The move to the downside as taken the price below the low for the day at 1.21383.  

FOREX Fri 4 Dec

The CHF is the strongest and the NZD is the weakest as NA traders await jobs data

The USD is mixed ahead of the US jobs report    Looking at the ranges and changes, the GBPUSD (as usual) leads the ranges at 82 pips but is only up 21 pips after being lower earlier in the session in volatile down and up choppy trading. The other currencies vs. the USD only have low to high trading ranges of 39 pips or less with the USDCAD (ahead of their jobs report with expectations of +20K net change in employment and 9.0% unemployment rate) only having a 26 pips trading range so far today. However, the USDCAD is trading near the lowest level of the year and the lowest level since October 2018. The USDCHF is trading near the lows and continues its move to the new lows since January 2015 for that pair.  The EURUSD did squeak out (but only by 3 pips) a new high going back to 2018, by taking out the high price from yesterday at 1.21740.

GBPUSD Fri 4 Dec

Cable back near unchanged levels after slight Brexit pop earlier

GBP/USD pares the jump earlier to 1.3494 as price retreats back to 1.3450 The pair got a jump from the earlier headline , before giving back all of the gains now as we see a retreat upon nearing a test of 1.3500. There is also key daily resistance from the 1 September high @ 1.3483 to be mindful about ahead of the close today.

EURUSD Fri 4 Dec

EUR/USD not resting on its laurels even as the dollar keeps somewhat steadier so far today

EUR/USD inches to a session high of 1.2170 The dollar is maintaining a modest advance against the aussie and kiwi, with even the yen trading lower against the greenback so far in European morning trade.

GBPUSD Fri 4 Dec

Cable sits a little lower on the session, Brexit still the main focus

GBP/USD eases to the lows for the day, with the low touching 1.3412 The dollar is keeping steadier for the most part and that is helping to see some push and pull in cable, but the pound is also failing to really get too excited ahead of the weekend after the hiccup from yesterday which saw 1.3500 rejected.

CABLE Thu 3 Dec

Cable slows down ahead of 1.35 but dips continue to be bough

Cable bounces back after small dip Even the 20-pip dips are being bough in cable today. That's a great sign for the bulls but 1.35 is putting a ceiling on the pair for the moment.


European shares end the day with mixed results

UK FTSE 100 rises on hopes for a Brexit deal The provisional closes are showing: In the European debt market, the benchmark 10 year yields will fell around 3 basis points on the day:

GBPUSD Thu 3 Dec

GBPUSD tests 1.3500 level. Highest level since December 2019

The buyers running the price up into the fixing The GBPUSD is moving higher into the fixing (just passed at 11 AM ET/1600 GMT).  The run to the upside takes the pair up to 1.3500 and to the highest level since December 2019 when the price reach 1.35139 (that was the high for 2019).  Earlier today, the price moved above the 2019 high price at 1.34816. That is now close risk for buyers.


US dollar continues to tumble

Dollar trades near lows vs. the major currencies Taking a look at the high to low changes for the day, the greenback is near extremes vs. all the majors. The GBP is the biggest mover with a gain of 119 pips (higher GBP/lower USD). The USDJPY is down -70 pips (lower USD/higher JPY). The USDCAD was near unchanged at the start of the New York session, but is now trading down -27 pips.

SP Thu 3 Dec

S&P/NASDAQ indices reach a new all-time highs

Each indices trades above Tuesday's high prices  The low for the day today reached 3667.91. The S&P has closed at record highs for 2 consecutive days. The close yesterday was at 3669.01.

AUDUSD Thu 3 Dec

AUDUSD trades to new 2020 highs

Trades at the highest level since August 2018 Looking at the daily chart, the next target would come in at 0.74526. That corresponds with the August 9, 2018 high price. Above that is the July high price at 0.7483.

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