Technical Analysis

US stocks have continued their recovery after lunchtime tumble

Trade near midpoint of the days trading range The major US indices took a early launch plunge, but are seeing a steady recovery into the US afternoon trading.

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GBPUSD Thu 20 Feb

GBPUSD works on the 4th down day in a row

Trades at lowest levels since November 27 A lower close today in the GBPUSD (the close was at 1.29197 yesterday) will be the 4th down day in a row for the pair. The price decline has taken the price from 1.30532 the low today of 1.28477. In the process, the low price from earlier for February (and for the year) at 1.2871 was broken. The pair is trading at the lowest level since November 27.

EURJPY Thu 20 Feb

EURJPY trades to the highest level since January 22

Moves above the 61.8% retracement and swing area. Can the momentum continue The EURJPY it is trading to the highest level since January 22 and continues the run to the upside started yesterday.

NASDAQ Thu 20 Feb

US stocks open modestly lower

Major indices down around -0.1% to -0.15% The US stocks are opening modestly lower with the major indices down -0.1% to -0.15%. The snapshot of the market a few minutes into the opening are showing:

SP-INDEX Thu 20 Feb

US stocks set to open lower

Dow down 63 points  The futures for the major indices are implying:

EURUSD Thu 20 Feb

BTW... The gap in the EURUSD from April 2017. Call it filled.

The low end of the gap was down at 1.0737 By the way, it may have taken nearly 3 years, but the gap from April 2017 (on the French election results), I will officially call it filled. The low in trading today reached 1.0777. My lower level from the gap was at 1.07768. Of course others may have slightly different levels. So I am declaring the gap filled.

FOREX Thu 20 Feb

The CHF is the strongest and the NZD and AUD are the weakest.

The USD is stronger and on the heals of the CHF As North American traders enter for the day, the CHF (and the USD) is the strongest of the major currencies, while the NZD and the AUD are the weakest.   

GBPUSD Thu 20 Feb

Fresh lows for the year for cable

Cable falls to its lowest level since 27 November 2019 ForexLive The pound is having none of the better-than-expected retail sales data earlier today as it continues to fall against the dollar to fresh lows for the year.

USDJPY Thu 20 Feb

USD/JPY still not slowing down, searches for firm break above 112.00

USD/JPY rises to its highest level since 25 April 2019 ForexLive The pair is up by another 0.6% on the day currently as buyers now go in search of a firm break above the 112.00 handle. The high today touches 112.10, the highest level since 25 April 2019 - with further resistance now seen from the 24 April 2019 high @ 112.40.

NZDUSD Thu 20 Feb

NZD/USD downside stretches on as kiwi woes continue

NZD/USD is at the lows for the day, nears some support around 0.6322-34 ForexLive The kiwi is continuing its horrid run of form this year with the post-RBNZ bounce proving to be extremely short-lived with price sinking to fresh three-month lows today.

AUDUSD Thu 20 Feb

AUD/USD at day's lows again as risk remains more tepid on the session

AUD/USD moves back towards the day's lows of 0.6630 ForexLive The aussie is seeing very little reprieve on the way down after hitting fresh decade lows today, following the mixed labour market report earlier. The jobless rate ticked higher and that was enough for the market to trigger stops in Asia Pacific trading.

GBPUSD Thu 20 Feb

Cable keeps a little weaker near 1.29 ahead of UK retail sales data

Cable fell below its 100-day moving average in trading yesterday ForexLive The near-term price action continues to favour sellers as price now moves close to the 1.2900 level and also broke back below the 100-day MA (red line) in trading yesterday.

USDJPY Thu 20 Feb

USD/JPY looks perky to start the European morning

USD/JPY up to a session high of 111.56 currently ForexLive The pair is continuing from where it left off yesterday, recovering off lows earlier in the day close to 111.10. Price is now making its way back up and moves closer towards the overnight high at 111.59.

AUDUSD Wed 19 Feb

AUDUSD trades near lows since 2009 ahead of employment data

Employment change expected to be 10K vs 28.9K last week. The Australian employment data for the month of January will be released at 7:30 PM ET/0030 GMT. The estimate is for a job gain of 10K versus 28.9K last month. The unemployment rate is expected to rise to 5.2% from 5.1%. The participation rate is expected to remain unchanged at 66.0%. 

SP Wed 19 Feb

S&P and NASDAQ close at record levels

NASDAQ index leads the charge with the 0.87% gain The major indices are all closing higher with the NASDAQ and S&P closing at record levels. The NASDAQ index led the way. It was up over 1% at the highs today but backed off into the close.

NASDAQ Wed 19 Feb

Nasdaq up over 1% now (and 100 points)

Another big day for the Nasdaq  The Nasdaq index is now up over 1% and over 100 points on the day. The indices just traded up to 9832.809. That took the price up about 1.03% on a gain of just over 100 points.

CADJPY Wed 19 Feb

CADJPY is the strongest pair today

Up 1.55% on the day A snapshot of the strongest and weakest currencies today shows the CAD is the strongest and the JPY is the weakest.  The pair has moved 1.55% higher in trading today helped by a tumble in the JPY and a modest gain in the CAD today.  

GOLD Wed 19 Feb

Gold matches the Iran-spike high in fourth gain in the past five days. What's next

Gold up $6.50 today All roads lead back go gold. We have almost institutionalized the idea of money printing and fiscal stimulus globally. The next downturn is going to feature an unfathomable amount of experimentation and competitive FX devaluation. It won't work because of demographic headwinds but they will keep throwing money at it anyway.

GBPUSD Wed 19 Feb

GBPUSD trading back below its 100 day moving average

Pair is making new session lows The last move below the 100 day moving average earlier today lasted for less than 5 minutes. After a correction back toward the underside of a broken trend line, the downside has been reestablished (). 


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