Technical Analysis

Down, up and down week for the NZDUSD

Low today stalls at 200 bar MA on 4-hour The NZDUSD moved down and up and back down in trading this week. The high was reached yesterday at 0.66646. The low on Wednesday at 0.6583. The total range was 81 pips for the week.  

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NASDAQ Fri 17 Jan

US indices open at new record levels

Dow lags The major US indices are opening at new record levels with the NASDAQ leading the way. The Dow is lagging. A few minutes into the opening is showing:

EURUSD Fri 17 Jan

EUR/USD skids lower to 55-dma

EUR/USD under pressure The euro is cementing its reputation as the funder of choice so far this year and today's price action hammers home the point. It's down 35 pips to 1.1102 and only the 55-dma just under the figure is supporting it.

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GBPUSD Fri 17 Jan

The GBPUSD trades between MAs again after run higher runs into weak retail sales

100 hour MA stalls the fall The GBPUSD moved to test it's 50% retracement at the 1.31185 ahead of the December retail sales report and found some profit taking sellers.  Nevertheless, the prices just 11 pips off the high price as the weaker than expected retail sales were reported (-0.6% versus +0.5% estimate).  The surprise decline sent the pair tumbling lower with the fall not stopping until reaching its 100 hour moving average at 1.3025.  The low reached 1.30257.

JPY Fri 17 Jan

The JPY is the strongest and the NZD is the weakest as NA traders enter for the day

TGIF....The USD is higher As North American traders enter for the day, the JPY is the strongest and the NZD is the weakest.  The USD is higher vs. all the major currencies and just behind the JPY as the strongest of the day. The GBP was stronger earlier but a weaker than expected retail sales (-0.6% versus +0.5% estimate) erased gains.   Nevertheless, the GPB is still marginally higher vs the EUR and the NZD, but lower against the rest of the majors. 

GBPUSD Fri 17 Jan

Pound slides on UK retail sales slump

UK retail sales failed to show growth for five consecutive months despite Black Friday sales, the longest stretch since ONS records began in 1996 ForexLive The data was largely disappointing and has driven the pound lower on the day with cable now falling to fresh lows just under 1.3050 from about 1.3110 beforehand.

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GBPUSD Fri 17 Jan

Pound keeps a little higher ahead of UK retail sales data

Cable is at session highs, testing the 1.3100 level ForexLive There are some offers resting at the figure level that is keeping price action capped for the time being but from a technical perspective, cable is looking more bullish as buyers are also contesting a break above the key trendline resistance @ 1.3071.

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USDJPY Fri 17 Jan

USD/JPY trades at fresh seven-month highs, can buyers continue the upside momentum?

USD/JPY trades narrowly to start the day but is keeping at seven-month highs ForexLive The pair continues to sit around 110.20-25 to start the session, the highest levels since 23 May 2019. The trading range (15 pips) today still leaves a lot to be desired and traders will be looking towards the risk mood for more clues towards the end of the week.

SP Thu 16 Jan

Major indices close at record levels and near intraday highs

NASDAQ index rises 1.06% as buying continues The major US indices are closing at record levels and near session highs as well. The final numbers are showing:

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SP Thu 16 Jan

New highs for the stocks as the day heads to the final bell

All indices on pace for record closes again There is not stopping the market (until there is something). The major indices are all trading at new session highs and all will close at record levels again.

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WTI-CRUDE-OIL-FUTURES Thu 16 Jan

WTI crude oil futures settle at $58.52

Up $0.71 or 1.23% on the day The high price extended to $58.87 while the low reached $57.56. Technically, the price day move back above its 100 hour moving average for the 1st time since January 8. That 100 hour moving average comes in at $58.41 currently (blue line in the chart above).

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SPX Thu 16 Jan

New intraday highs for the S&P. Stays above a broken trend line.

New intraday high at 3309.45 The S&P has extended to a new intraday high at 3309.45. We currently trade just off that level at 3308.85.  Looking at the hourly chart above, the price gapped above a topside trend line and has been able to stay above that broken trend line. The line currently comes in at 3304 (and moving higher).  Stay above keeps the bulls firmly in control.  A move below with just muddy the bullish waters on the failed break.

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NZDUSD Thu 16 Jan

NZDUSD breaks back below the 200 hour MA

Working off the earlier gains for the pair The NZUDSD in the NY session has been working off the earlier gains as USD buying spilled over into this pair too. The pair is still up 14 or so pips on the day at 0.6631, but it reached as high as 0.66646.  So more than half of the gains have been retraced.  

AUDUSD Thu 16 Jan

AUDUSD rotates back down to 200 day/hour MAs and trend line

Run above the 100 hour MA failed earlier today The AUDUSD has rotated back down and in the process moves toward a key target support area on the hourly chart defined by the 200 day moving average, the 200 hour moving average and a trendline. The levels come in at 0.6886 to 0.68879. Key area for both the buyers and sellers.

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USDCAD Thu 16 Jan

USDCAD trades between the 200 and 100 hour moving averages

50% retracement is also in play on the downside The USDCAD has moved up and down in trading today and in the process, is ping-ponged between technical resistance above - defined by the 100 hour MA - and technical support below - defined by the 200 hour moving average and the 50% retracement.

EURGBP Thu 16 Jan

EURGBP moves breaks to new session low

Cracks below trend line and dipping below 200 hour MA The EURGBP is breaking to a new session low, and in the process has move below a topside trend line at 0.85273 currently and the 50% retracement of the move up from the January 8 low at 0.85247, and the 200 hour moving average at 0.85225. We currently trade at 0.85186. 

GBPUSD Thu 16 Jan

GBPUSD bounces back to technical resistance and stalls

100 bar MA on the 4-hour and trend line tested The GBPUSD just bounced higher and in the process is back up testing the 100 bar MA on the 4-hour chart and downward sloping trend line.  Both of those levels come in at 1.3067. The price just reached 1.30698.  

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AUD Thu 16 Jan

AUD/USD and EUR/USD do the 200-dma dance

USD strength among the factors The US dollar is at the best levels of the day and that's dragged by EUR/USD and AUD/USD back to their respective 200-day moving averages.

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SP Thu 16 Jan

Record highs for the major indices as stock trading gets underway

NASDAQ leading the upside The major indices are all trading at record highs as the stock trading gets underway in the US. A snapshot of the markets a few minutes after the open shows:

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