Technical Analysis

GBPUSD can't keep upside momentum going this week. What levels will be eyed next week.

Closing back below the 100 day MA... The GBPUSD last Friday at 1.2496. That was just below the 38.2% of the move down from the March high at 1.25009 and below the 100 day MA.   On Monday, the price opened near the close but moved lower. On Tueday the price moved higher and extended above the 100 day MA, but could not sustain the upside momentum. The price closed near the MA level (blue line in the daily chart below).

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SP Fri 20 Sep

US stocks close the day down and also close lower on the week

Nasdaq falls 0.8% to today The major US stock indices are ending the session in the red for the day. The declines today also helped push/keep the week lower.

USDJPY Fri 20 Sep

The USDJPY keeps a lid on the rallies at the 100 hour MA today

The fall below the low from yesterday did not solcit momentum selling The USDJPY has tested the 100 hour MA on 4 separate hourly bars over the last 30 or so hours of trading.  Each of those tests have found sellers against the MA. That MA comes in at 108.085 currently.  A lid on rallies is established. It will take a move above the MA level to change that bias.

DOW Fri 20 Sep

The opening bell sounds. Stocks are opening with modest gains

Major indices are a little higher at the opening The opening bell has sounded and the US stocks are modestly higher. Today is quadruple witching day in stocks which tends to inflate volatility. Quadruple witching day is when stock index futures, stock index options, stock options, and single stock futures expire at the close. As Adam pointed out earlier, there are 8.292B in S&P 500 options expiring at 3000. S&P futures are currently trading up seven points at 3015.

NZDUSD Fri 20 Sep

NZDUSD trades to a new 4-year low in trading today.

Takes out the low from earlier September at 0.62687 (but only by a few pips so far) The NZDUSD moved to a low of 0.6265 today. That was enough to take the pair to new 4 year lows (September 2015).  The early September low reached 0.62687. 

EURUSD Fri 20 Sep

EURUSD dips to new session lows and into the support target area

Up and down week for the pair... The EURUSD has had an up and down week of trading. Although the price has seen lots of ups and downs, the technicals have helped define the bias.

GBPUSD Fri 20 Sep

GBPUSD trades up to resistance...stalls...and falls to MA support area.

Rise to 1.2580. Fall to 100 day and 100 hour MA area The GBPUSD rose yesterday on the back of positive comments from EU Commissioner Juncker on they Brexit solution. The price raced up to 1.2454 before retracing back toward the earlier week highs at 1.2525 and 1.2511. The low in the early Asian session reached between those two levels at 1.2517 and started a run higher.

FOREX Fri 20 Sep

The CHF is the strongest while the NZD is the weakest as NA traders enter for the day

The USD is mostly higher The CHF is the strongest of the major currencies as North American traders enter for the day. The NZD is the weakest.  The USD is mostly higher with gains against all them major currencies with the exception of the JPY and the CHF

GBPUSD Fri 20 Sep

Cable erases gains on the day as Brexit optimism falls flat

Comments by the European camp earlier are finally settling in ForexLive The risk for buyers now is if price starts to fall back below 1.2500, that wouldn't be a confident sign of a major break signaling further upside momentum.

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GBPUSD Fri 20 Sep

Cable continues to soar in the new day, what is next?

Cable buyers broke above key resistance levels in overnight trading ForexLive The jolt higher yesterday came after (which I will get into later) and that was enough to give buyers the breakthrough they've been craving for all week.

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SP Thu 19 Sep

US stocks close with mixed results. Earlier gains taken away.

S&P unchanged. Nasdaq up marginally. Dow down. The major US stock indices are closing the day with mixed results.  Each however had earlier gains taken away into the close. 

USDJPY Thu 19 Sep

USDJPY consolidation looks to test topside MA again

The break of the 100 day and 200 hour MA could not go anywhere Earlier I posted on the USDJPY: Having said that, the pair has rallied high but only to the 100 hour MA above (blue line in the chart below).  That remains a target that - like the 200 hour MA - would need to be broken and stay broken, if the buyers are to take and keep control.  

US-CRUDE-OIL-FUTURES Thu 19 Sep

US WTI crude oil futures settle at $58.13

Up two cents or 0.03% Technically, the contract is going out near its 200 hour moving average at $58.04. The gap higher from the Saudi bombing is being eroded. There still is a distance from teh $54.82 close from last Friday, but its a good ways down from the high from Monday at $63.38

GBP Thu 19 Sep

The GBP has moved to the top of the rankings. Now the strongest of the majors

Up 0.67% vs the USD The GBP has now moved to the top of the rankings of the major currencies after the hopeful comments on a Brexit deal from European Commissioner Juncker.

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EURGBP Thu 19 Sep

EURGBP has fallen back below its 200 day MA on Juncker comments

EURGBP falls below its 200 day moving average of 0.8833 The price action has moved below its 200 day moving average of 0.8833.   Recall from yesterday that the price also fell below that level, only to recover and the price corrected higher in the London session.

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GBPUSD Thu 19 Sep

GBPUSD rises on Juncker inteview comments

GBPUSD spikes back above its 100 day moving average. Risk level for longs now The comments from European Commissioner Juncker that "we can have a deal" on Brexit, has pushed the price of the GBPUSD back above its 100 day moving average of 1.24919. The pair has tried to extend above that moving average on a number of occasions over the last three trading days. Each has failed.  

NZDUSD Thu 19 Sep

NZDUSD bounces off recent lows

Low from yesterday and earlier today stalls the fall The NZDUSD moved down to test the low from yesterday and earlier today at the 0.62977-99 area and stalled. the price has rebounded up to 0.6307 currently.  Is the bottom in?  Risk can be defined and limted against the level.

NASDAQ Thu 19 Sep

Stocks move down toward day lows

Gains being eroded in the major indices The Nasdaq index is trading to a new session low on the day. The S&P and Dow is also near lows as well. For the Nasdaq, at the high the index was up 60 points. It is up 19.41 points now.

EURUSD Thu 19 Sep

EURUSD tests downside support targets

NY session sees steady fall after run higher stalled against topside resistance. The EURUSD has moved down to test support defined by the: The low just reached 1.1042.  A move below should solicit more selling.


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