Technical Analysis

Crude oil futures settle the week at $55.59

End up $1.18 or 2.17% The price of crude oil futures have settled the week at $55.59. That is up $1.18 or 2.17%.   Last week, the price closed near $52.71. The low for the week was on Monday at $51.23. The high extended to $55.72 today.    

More Technical Analysis

DOLLAR Fri 15 Feb

Mixed data today and a bunch of chop

Stocks doing well though The NA session has mixed data released and that is contributing to a lot of chop. Remember it is Friday too.  In the US: For the EURUSD, the price action looks like this:

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EURUSD Fri 15 Feb

EURUSD retraces the fall and returns to the topside resistance area and finds sellers

Back and forth after break lower failed The EURUSD has retraced all the way back to the resistance area defined by the trend line and the 100 hour MA. That area comes in at 1.1284-90. Yesterday, the 100 hour MA (blue line) was broken, but the trend line stalled the rally. The levels are reversed today with the 100 hour MA above the trend line.

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GBPUSD Fri 15 Feb

GBPUSD chops around but stalls ahead of the 50% midpoint

Lots of up and down price action today The GBPUSD has seen a lot of up and down chop in th price action today, which makes trading a bit difficult (see 5 minute chart below)

USDJPY Fri 15 Feb

USDJPY tests 100 hour MA/swing high from Tuesday

Bounced off the 200 hour MA earlier The move higher today, was a reversal after an earlier decline. That fall was a continuation of the fall from yesterday, helped by the weaker Retail sales data, but when the pairs price tested the 200 hour MA (green line currently at 110.22), sellers covered/new buyers leaned and the price started the rebound.  

EURUSD Fri 15 Feb

EURUSD trades to new session lows

Looks toward the low for the week Coeure is saying that the economic slowdown is stronger and broader than expected and that has moved the EURUSD to new session lows. The pair is now testing - and breaking below - the low for the week at 1.1249 (just reached 1.1243 as I type) and tests a trend line connecting the lows for the week.  A move below opens up the downside.  Sellers are in control. 

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FOREX Fri 15 Feb

The NZD is the strongest (again) and the EUR is the weakest

The USD is the mixed The NZD is the strongest currency (for the 3rd day in a row). The EUR is the weakest as North American traders enter for the day. The USD is mixed with gains vs EUR, CHF and declines vs the NZD, AUD, GBP and CAD although most are little changed. The GBP is a little stronger after a signficant beat with retail sales (1.0% vs 0.2% est).  Brexit remains a concern though.  

NZDUSD Fri 15 Feb

NZD/USD climbs to session high in a turnaround move today on renewed trade optimism

NZD/USD hits a high of 0.6855 after having traded at a low of 0.6810 earlier ForexLive Optimism surrounding trade talks in Beijing was fading to start the day as US and China were reported to have structural issues that are difficult to work out and that tempered with the risk mood in Asian and early European trading. NZD/USD hit a low of 0.6810 before trading sluggishly around 0.6820-30 earlier on.

GBPUSD Fri 15 Feb

Cable rises to session high on dollar weakness and UK retail sales boost

GBP/USD hits a high of 1.2830 on the day ForexLive The pair is now running into some minor resistance from the 1.2830-32 swing region as buyers are continuing a small climb higher on the back of some dollar weakness (as a result of improved risk sentiment) and a slight boost from the upbeat UK retail sales report earlier.

USDCAD Fri 15 Feb

USD/CAD stays underpinned above 1.33 as the dollar holds firm on the day

USD/CAD trades at the highs for the day near 1.3313 ForexLive The greenback is pushing gains against the likes of the euro, swissie and loonie to start the morning and we're seeing USD/CAD stay underpinned above the 1.3300 handle with buyers searching for an extension to the upside move yesterday.

EURUSD Fri 15 Feb

EUR/USD sellers remain in control but lack conviction for a further downside break

The pair still holds below 1.1300 but is struggling to break below 1.1250 ForexLive Despite the fact that the dollar struggled yesterday after the poor retail sales report, EUR/USD buyers were unable to regain some notable near-term momentum as upside movement was capped by the 100-hour MA (red line) as well as the 1.1300 handle.

USDJPY Fri 15 Feb

USD/JPY in search of near-term bias as softer risk sentiment underpins the yen

Weak US retail sales data and slight stumbling blocks in US-China trade talks are helping to keep USD/JPY pressured to the downside ForexLive The pair took a heavy knock back under the 111.00 handle after US retail sales data for December disappointed heavily. Buyers found some support around 110.50 thereafter but recent rhetoric that US and China are still far apart on structural issues is sapping the optimism out of equities and what was priced into risk assets at the start of the week.

SP Thu 14 Feb

US stocks end the session mixed

Nasdaq higher. S&P and Dow lower The major indices are ending mixed. Some losers today include: Below are the ranges and % changes of the major indices in Europe and North America today:

GBPUSD Thu 14 Feb

GBPUSD keeps under intraday resistance levels

Something has to give.. The GBPUSD is keeping a lid on the rallies on the intraday 5-minute chart. Looking at the chart above,  Admittedly,  the price is not running lower off these levels, but the buyers are not really racing the price higher either.  

USDJPY Thu 14 Feb

USDJPY tests 100 hour and trend line.

Traders lean as Washington budget headlines  The stocks zigged and zagged and so did the USDJPY. On the downside, the pair made new lows and in the process tested the 100 hour MA and trend line. Then the level held and we saw a bounce -albeit modest.   The trend line comes in at 110.46. The 100 hour MA is just above that line at 110.516. 

WTI-CRUDE-OIL Thu 14 Feb

WTI crude oil futures settle at $54.41/BBL

Up $0.51 or 0.95% The price of crude oil futures are selling at $54.41. That is up $.51 on the day or 0.95%. The high price reached  at $54.68. The low price extended to $53.08. 

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EURUSD Thu 14 Feb

EURUSD climbs back to the day's highs

Ups and downs today The EURUSD has had it's share of ups and downs today.  We are currently on one of the "ups". The pair has just moved above the 100 hour MA at 1.12979 level and looks toward a topside trend line at 1.1303. The high for the day reached 1.1309.  The price is also back above the 1.12885 level. That was the swing low from January 24th.  The level has sorta been a bullish above/bearish below level for traders this week.  We are back above. 

FOREX Thu 14 Feb

GBPNZD is the weakest of the currency pairs today

Down near 1% on the day The NZD is the strongest currecny today. The GBP is the weakest. That translates into the GBPNZD being the biggest mover.  Indeed the pair is down -0.99%.

SP Thu 14 Feb

S&P index moves back to unchanged

Back above the 200 day MA in the process The S&P index has clawed back the declined and trades at unchanged levels. The low reached 2731.23. The high just extended to 2753.10, which was good enough for a tiny gain on the day.  The move higher has taken the price back above the 200 day MA at 2744.23.   That remains the barometer for the bulls and bears today. 

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