Technical Analysis

The S&P index opens above 3000 and above its 200 day moving average

100 day MA broken at 2967.75l The New York Stock Exchange is opening in full and investors are cheering that news gapping the S&P index above the 3000 level and its 200 day moving average at 3000.12 as well.  Getting and staying above those key levels are a bullish development for the index.  The NASDAQ index and Dow industrial average also sharply higher.  

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NZDUSD Tue 26 May

NZD/USD eyes a breakout as positive risk flows keep the pressure on the dollar

NZD/USD is at session highs, closing in on the 30 April high of 0.6176 See here for global coronavirus case data The recent topside momentum in the pair has been limited by resistance from around 0.6156-76 but the pair is now nearing a breakout of that amid the risk-on vibes today.

EURUSD Tue 26 May

EUR/USD climbs to session high as dollar keeps weaker amid risk-on mood

EUR/USD buyers look to seize near-term control See here for global coronavirus case data EUR/USD is rising to a high of 1.0938 on the session, as buyers now look to keep a break above the 100-hour MA (red line).

AUDUSD Tue 26 May

AUD/USD buyers begin to eye 0.6600 again on more positive risk appetite

AUD/USD trades back above its 100-hour moving average See here for global coronavirus case data That sees the near-term bias now turn more bullish upon the break of the 100-hour MA (red line), as buyers reclaimed control after a bit of a battle in between the key hourly moving averages since last Friday.

GBPUSD Tue 26 May

Cable pushes to session high on softer dollar as buyers reclaim near-term control

GBP/USD rises to a high of 1.2245 to start the session See here for global coronavirus case data The dollar continues to sit weaker amid the more positive risk mood to start the day, and that is helping to see cable push higher towards some near-term resistance around 1.2245-50.

CAD Mon 25 May

Canadian dollar climbs to session high on positive risk mood

Canadian markets are open today It's a holiday in the US but Canada is open and the TSX Composite is up 1%. The loonie trails only sterling at the top of the FX leaderboard today.

RISK Mon 25 May

Germany DAX looks for a break amid rise to fresh highs since 6 March

The DAX goes in search of another leg higher See here for global coronavirus case data The index is now gaining by nearly 2% on the session, looking to hold a break above the 30 April high @ 11,235.57. It is now trading to its highest level since 6 March.

GBPUSD Mon 25 May

Cable keeps steady just under 1.2200 despite UK political mess (again)

Cable is consolidating after the drop below 1.2200 on Friday See here for global coronavirus case data Boris Johnson is coming under fresh scrutiny in the coronavirus crisis, after he backed his senior adviser, Dominic Cummings, after the latter is said to have broken lockdown restrictions. At least 18 Tory MPs have now publicly called for Cummings to resign.

USDJPY Mon 25 May

USD/JPY extends consolidation phase to start the week

USD/JPY is little changed close to 107.70 See here for global coronavirus case data The pair continues to consolidate around 107.50-80 for the most part since last week, with a firm break above 108.00 still proving elusive while downside momentum continues to be limited by the key hourly moving averages - in particular the 200-hour MA (blue line).

EURUSD Mon 25 May

EUR/USD sellers look to seize near-term control to kick start the new week

EUR/USD falls back under its 200-hour moving average See here for global coronavirus case data The pair is tracking a little lower to start the session, falling to just under 1.0880 and notably under its 200-hour MA (blue line) @ 1.0885.

EURUSD Sun 24 May

Technical look at the major currency pairs into the new trading week

What the hourly chart and price action is saying. GBPUSD. In the NY session on Friday, the GBPUSD tried to stay below the 1.21842 (50% of the week's trading range). The price spiked above the level, but could not get above other topside target including the channel trend line and 200 and 100 hour MA. Sellers returned. For last week, the corrective high reached on Tuesday could only reach the 38.2% of the move down from the April 30 high. That makes the correction a plain-vanilla variety. Seller more in control still. with the pair trading just above the 61.8% at 1.2589 and the lower channel trend line.

DOW Fri 22 May

Major indices end mixed. 2nd weekly gain in 3 weeks for the major indices

Major indices close near session highs The major indices are closing near the session highs for the day. The final numbers are showing For the trading week:

CFTC Fri 22 May

CFTC commitments of traders. Net dollar buyers in the net speculative futures positions this week

Forex futures positioning data for the week ending May 19,2020 - EUR long 72K vs 78K long last week. Longs trimmed by 6K - GBP short 19K vs 14K short last week. Shorts increased by 5K


WTI crude oil futures settle at $33.25

Down -$067 or 1.98% The price of WTI crude oil futures are settling at $33.25 or -$0.67 or -1.98% on the day. The low for the day reached  $30.72. The high extended to $34.00.  Rising demand is starting to put a bid under the price.  However, for the day, the price moved lower as concerns about China growth and perhaps some profit taking, has hurt the price. 

OIL Fri 22 May

You can't even keep oil down for a day

Crude pares much of the decline Even the down-days are impressive for oil. WTI crude oil fell as low as $30.72 earlier today but has climbed all the way back to $33.11, down just 2.4% after falling more than 9%.

NASDAQ Fri 22 May

NASDAQ/S&P indices extend to new intraday highs

S&P index moves to the black. Nasdaq up about 28  points The S&P index and NASDAQ index both tick to new intraday. The S&P index moved to a high price of 2949.04. That took the index up 0.53 points on the day.  


Major European indices are ending the day little changed.

Italy's FTSE MIB bucks the trend with a 1.2% gain

USDCAD Fri 22 May

USDCAD backs off after move above 61.8% fails

Seeing some upside apprehension The USDCAD trended higher today with gains starting in the Asian session after the price moved above its 100 hour MA (blue line).  

GBPUSD Fri 22 May

GBPUSD gives back more than half of the earlier week gains

Last week the price fell for 5 consecutive days. This week 2 day rally followed by 3 days lower The GBPUSD is working on its 3rd day with declines cents peaking on late Tuesday at 1.22954.

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