Technical Analysis

GBP/USD keeps higher as buyers defend key near-term bias, but more is needed

GBP/USD pushes to session highs for the day at 1.2435 ForexLive The pair is inching a little higher on the day, up by about 0.5% but has been largely consolidating between 1.2300 to 1.2500 for the most part over the past few days.

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SP-INDEX Wed 1 Apr

Stocks heading into the last hour of trading...Buckle up your seat belt

Major indices trading near the lows for the day as we head into the last hour of trading. As we head into the last hour of trading, the major indices are trading near session lows.  The last hour of trading has been extremely volatile of late. Is there any reason to expect any different today?

USDCAD Wed 1 Apr

USDCAD tests the 200 hour MA

The high just reached 1.42404 The USDCAD moved up to test the 200 hour MA at 1.4244. The high reached 1.42404 and backed off. The price remains 1.4219 currently.  

SP-INDEX Wed 1 Apr

S&P index tests the 100 hour MA

Holds just above the 100 hour MA.  Key barometer. The S&P index trading at session lows and in the process is testing the 100 hour moving average currently at 2479.97. The low for the day just reached 2480.32. A move below that moving average could lead to further downside momentum with the 38.2% retracement of the move up from the March 23 low at 2469.47 and the 50% retracement of that same move higher at 2416.46 as the next downside targets.

USDJPY Wed 1 Apr

The USDJPY remains above the 107.00/trend line

The sellers remain more in control but some stall (for now at least) The USDJPY remains above the 107.00 natural support level and a trend line around the same level (see earlier day ).  The price has moved to a low of 107.01 so far.   A move below would open the door for more selling.  


European shares end the session lower

The month gets off to a negative start March is behind us, but the April trading in the equity markets in Europe got off to a negative start: Provisional closes for the major indices are showing:

USDCAD Wed 1 Apr

USDCAD trades between 100 and 200 hour MAs

100 hour MA at 1.4112 and 200 hour MA at 1.42438 The USDCAD trades between the 100 and 200 hour MAs.  The 100 hour MA is down at 1.41125. The 200 hour MA is up at 1.42438.  The price today did move above and start the NA session above the 200 hour MA but could not extend toward the next targets at the 50% at 1.42935 and old trend line near that level.  

NZDUSD Wed 1 Apr

NZDUSD runs up to the 100 hour MA as it follows the AUDUSD

Catches the bid from the AUDUSD. The run to the upside was less than the AUDUSD but it still was about 60 pips in a short burst.  Traders did come in against a resistance technical level which increases the levels importance going forward.   

GBPUSD Wed 1 Apr

GBPUSD moves back toward closing levels

The pair remains in an up and down range above the 100 hour MA The GBPUSD has moved back toward the closing levels on the day after an earlier decline has been erased.

USDJPY Wed 1 Apr

USDJPY trades to a new low and looks to test the week's lows

The USDJPY trades to new session low The USDJPY trades to a new low and looks to test the Monday low at 107.116. That was the lowest level since March 18. On a break, the 107.00 level will be eyed. Not only is it a natural support level, but is also a lower trend line.  

SP Wed 1 Apr

US stocks open lower with declines. Nasdaq does better but still lower.

S&P down -3.57% The major US stock indices are opening lower. The NASDAQ is outperforming but still down about 2.8% on the day. The snapshot of the major indices are currently showing

EURUSD Wed 1 Apr

EURUSD moves away from its 100 day MA. Bears in control.

Trades near session lows. The EURUSD has moved away from its 100 day MA at 1.10421 today after an early Asian session sniff of the level was turned away. 

FOREX Wed 1 Apr

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

Stocks moving lower The USD is the strongest and the CAD is the weakest as NA traders enter for the day. Stocks are lower as are US yields.  Gold is rebounding after falling earlier and bounciing. Oil is trying to stay above $20 as the Oil war continues between Saudi Arabia and Russia despite the coronavirus demand destroyer. The US says deaths could rise to 100K to 240K from the viurus. Nevertheless, the USD moves higher with the JPY on it's tail.  The AUD is just behind the CAD as the weakest of the majors.

USDJPY Wed 1 Apr

USD/JPY remains in a tug of war battle today

USD/JPY keeps near flat levels as both the dollar and yen are keeping firmer against the rest of the major currencies bloc ForexLive The pair has been trading narrowly over the past few hours, sitting between 107.40-60 for the most part as both the dollar and yen are leading gains against the major currencies bloc in European morning trade.

EURUSD Wed 1 Apr

EUR/USD falls to session low, down by 1% on the day now

EUR/USD falls to its lowest level since 26 March as the dollar keeps firmer ForexLive It is all about the dollar and and the yen in the major currencies space, as both currencies are keeping firmer on the day amid the softer risk mood in the market.

USDCAD Wed 1 Apr

USD/CAD works its way back above 1.4200 as dollar continues to firm

USD/CAD making its way back towards the 200-hour moving average ForexLive Amid quarter-end flows and what not yesterday, the pair had a wild session as price moved above 1.4300 only to come crashing down back towards the 1.4000 level.

EURUSD Wed 1 Apr

EUR/USD eases back under 1.1000 to start the session, what levels to look out for today?

EUR/USD eases lower as the dollar keeps firmer ForexLive The pair hit a low of 1.0927 in trading yesterday before bouncing back to keep a daily close above the 1.1000 handle. As the dollar firms once again today, the pair is seeing a move back lower below the figure level to session lows of 1.0986 currently.

AUDUSD Wed 1 Apr

AUD/USD falls by nearly 1% as dollar firms on the softer risk mood

AUD/USD starts to take a peek below key near-term levels ForexLive The dollar and yen are leading gains in the currencies space, while the aussie just extended losses on the day to fall by nearly 1% now against the greenback.

SP Tue 31 Mar

Dow leads the decline in stocks. Dow posts worst Q1 ever.

Dow & S&P worst month since 2008. S&P falls -20% for the quarter. All indices are in the red going back a year.  The US stocks are ending the day with declines across the board but by differing degrees.

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