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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.