Technical Analysis

GBPUSD trades near midrange in up and down day

100 and 200 hour MA are converged below.   The GBPUSD is trading near midrange in an up and down price action today (midpoint is 1.2138). The high today stalled short of the high from Friday and a swing area at 1.21749 to 1.21901.  The high could only get to 1.2172.  The fall from the high stalled just ahead of the 200 hour MA at 1.2102 (the low reached 1.2104).  

More Technical Analysis

S7P Mon 19 Aug

US stock closes higher, but off the higher extreme

Nasdaq leads the indices on the day. Dow lags The major US stock indices are ending the session with solid gains but off the session highs. The indices opened higher and remained higher on the back of the Trump administration talking up the economy and more Fed criticism (and calls for sharply lower rates ....i.e. Pres. Trump wants 100 bps lower).  The Trump Administration also extended its reprieve on penalties for doing business with Huawei which gave a boost to stocks.

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CRUDE-OIL Mon 19 Aug

Crude oil settles at $56.21

Up $1.24 or 2.44% WTI crude oil is settling the day at $56.21. That is up $1.34 or 2.44%.  The low reached $54.84. The high reached $56.30.   ForexLive

USDJPY Mon 19 Aug

USD/JPY climbs to session highs alongside move higher in bond yields

USD/JPY touches a high of 106.66 on the day ForexLive The pair is breaking above near-term resistance close to 106.50 and is closing in on a test of the 38.2 retracment level @ 106.68 at the moment. The jump higher comes amid a firmer dollar and weaker yen amid higher Treasury yields on the session.

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EURGBP Mon 19 Aug

EUR/GBP appears to have found a base, for now...

EUR/GBP climbs to a high of 0.9150 as the pound erases earlier gains ForexLive Of note, price is appearing to find a base just above the 0.9100 handle after the move to the downside last week. In turn, price is climbing back up now and is threatening to challenge a move back above near-term resistance close to 0.9150.

GBPUSD Mon 19 Aug

Cable holds slightly higher but near-term resistance levels still at play

The pound gains some ground in early morning trades ForexLive Price touches a high of 1.2173 on the session as the pound stays firm since the end of last week. However, key near-term resistance levels are still at play nearby.

EURUSD Mon 19 Aug

EUR/USD holds near 1.1100, what are the key levels to look out for this week?

EUR/USD trades narrowly close to 1.1100 to start the week ForexLive The technical picture is very much but this time price is just under the 1.1100 handle instead of holding just above it. Sellers managed a downside move towards the end of last week but ran into swing region support around 1.1070-80.

SP-INDEX Fri 16 Aug

Stocks close the session with solid gains. Erase more of the declines from this week

Major indices close up 1.2% or better The major US indices are closing with provisional gains of 1.2% or better. The numbers are showing - The S&P index rose  41.12 points or 1.44% at 2888.71 For the week, despite the solid gains today, the major indices are ending the week with losses (but it could have been worse).

COMMITMENT-OF-TRADERS Fri 16 Aug

CFTC commitment of traders: GBP shorts trimmed modestly. JPY longs increased.

Forex futures positioning data among noncommercial traders for the week ending August 13, 2019 Highlights: ForexLive

3
GOLD Fri 16 Aug

Gold bounces off the 200 hour MA two times this week

MA will be remembered for the bounces on dips... The price of gold is trading down $-9.08 at $1514.21. The low price extended to $1503.77. The high price reached $1528.10 today.

NASDAQ Fri 16 Aug

Nasdaq/S&P index tick to a new session highs.

NASDAQ index down only -0.69% on the week.  S&P index -0.94%. Both were down over -3% at the lows for the week The Nasdaq has ticked to a new session high and is down only 0.69% on the week.  At the lows, the Nasdaq fell -3.06% from the close last week at 7959.84.  The price just reached a new session high at 7905.35.

USDCAD Fri 16 Aug

USDCAD falls toward 100/200 hour MAs

New session lows for USDCAD For the week, the low was reached on Tuesday at 1.31839. The high was reached at 1.33381 yesterday. That fell short of the August high from August 7 at 1.33437 by about 5 pips and set the stage for the move lower. 

GERMAN-DAX Fri 16 Aug

European shares have a recovery day

Solid gains for the major indices The European stock markets are closed for the day and for the week and they are ending with solid gains after a not so solid trading week:

SP Fri 16 Aug

US stocks extend higher

Major indices all up over 1% The US major stock indices are all trading above 1% on the day: Looking at the daily charts of each, the price action this week took the price below the hundred day moving averages, but prices have been able to stay above lower 200 day MAs as well.  We currently trade between those technical levels in each.

1
AUDUSD Fri 16 Aug

AUDUSD wanders to 100 and 200 hour MA support. Stalls.

Trading consolidates in the AUDUSD The AUDUSD has wandered up and down in trading today.  The early move at the start of the session stalled at the 100 hour MA, the price moved through the high from yesterday to 0.6794, but stayed well below the highs for the week (at 0.6808 and 0.6817).  The failure to extend above the high has now led to wander back toward the 100 and 200 hour MAs at 0.6770-73 area.

1
EURGBP Fri 16 Aug

EURUSD lower. GBPUSD higher = EURGBP lower

Tests end of July/early August swing levels. The EURUSD is lower today. The GBPUSD is higher.  Those pairs are moving in opposite direction to the USD. The algebra of that equation points to a lower EURGBP.  

1
EURUSD Fri 16 Aug

EURUSD steps lower in trading today

Moves away from 1.1100 level Yesterday I spoke to the 1.1100-09 area (). Those levels were lows from April, May and July. The price moved below those levels at the end of July and early August on the way to the 2019 low at 1.10265 but recovered back to 1.12489.  

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GBPUSD Fri 16 Aug

GBPUSD extends. Looks to test underside of trend line on daily

Tests 100 bar MA on 4-hour chart as well  Drilling to the 5 minute chart below, the pair has not had much of a breather as it trended higher.  So there is some 'trend day' tendencies traders should be aware of.  A lower trend line on the 5 minute chart comes in at 1.2156. The high from yesterday is at 1.21497.  Those are close risk levels for the pair should resistance hold in the 1.2170-84 area and the price start to rotate lower.   

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GBP Fri 16 Aug

GBP is the strongest while the CHF is the weakest.

The USD is mixed The GBP has squeezed higher and trades higher vs all the major currencies today. The CHF is the weakest as "risk on" fears disipate for today. Stocks are higher.  Bond yields WERE higher but the yields have come back to unchanged levels.  Gold it lower.  The global recession is off for now at least. The USD is mixed with gains and losses scattered amongst the pairs (dollar higher vs EUR, JPY, CHF and NZD and lower vs GBP, CAD, AUD)


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