Technical Analysis

EUR/USD holds steady after breaking above 1.20

EUR/USD up a half-cent The euro spent the latter half of last week trying and failing to break above 1.2000 but earlier today it finally made its move after a dip to 1.1940 was rejected.

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FOREX-EDUCATION Fri 16 Apr

Video: Non-trend transitions to trend. Make that simple phrase a part of your trading mindset

Learn how to catch more trends by following that simple trading mantra Many traders look at sideways markets as a time to fall asleep and ignore that market or specific currency pair. In reality, there comes a time in the sideways markets, where you need to become uber aware of the price action. The reason?  Non-trend transitions to trends.   Since  trends are fast, directional and tend to go farther than traders expect, it's the perfect time to make large gains (and avoid large losses). 

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CFTC Fri 16 Apr

CFTC Commitments of Traders: Little changes in the futures net position data for the week

Weekly forex futures positioning data for the CFTC for the week ending April 13, 2021 - EUR long 67K vs 68K long last week. Longs trimmed by 1K - GBP long 26K vs 20K long last week. Longs increase by 6K

WTI-CRUDE-OIL-FUTURES Fri 16 Apr

WTI crude oil futures settle at $63.13

WTI crude oil futures to settle at $63.13, up $0.33 or 0.52% The June contract settled lower by $0.32 at $63.14 Technically, the price is trading between the 50% and the 61.8% of the move down from the March cycle high. Those levels comes in at $63.87 to $62.61.

AUDUSD Fri 16 Apr

AUDUSD catches it's breathe after run higher

Price trended higher this week. In my latest video, I focus on the non-trending nature of the AUDUSD and how it based and rocketed higher. You can see it . HERE

GERMAN-DAX Fri 16 Apr

European shares end the day/week higher

German Dax makes new all time highs The German Dax broke higher today and in the process moved to a new all time high at 15473.83.  The price of the index had been waffling up and down over the last 8 trading days in a non-trending market before breaking higher and running to the upside. 

USDCAD Fri 16 Apr

USDCAD reverses up run as the week comes to a close

Volatile up and down move in the USDCAD this week The USDCAD on Monday, opened and moved higher. That run, took the price back above a cluster of MAs near 1.2570 and up to a swing area at 1.2623 to 1.2628 (red numbered circles). The high extreme from March 30 reached 1.2646.  The high price also stalled against a topside trend line (see green numbered circles). 

GBPUSD Fri 16 Apr

New week high for the GBPUSD

I still don't trust it, but buyers are making a play on the sharp run higher I have not been a big fan of the GBPUSD of late. It has had an overabundance of very volatile up and down price action (which is different than non-trending). It does not have a rhythm. Case in point, the price tumbled lower earlier today falling about 64 pips in 7 hours, then bottomed at 1.3703 and shot higher over the next seven hours up to a high at 1.3815 (112 pips).  

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DOW Fri 16 Apr

Mixed results in the US stocks at the open

Nasdaq marginally lower. Dow leads The US stocks are opening with mixed results. The Dow is leading the way to the upside. The Nasdaq was marginally lower after the sharp rise yesterday.

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EURUSD Fri 16 Apr

EURUSD has some pause at topside swing area

...100 hour MA and lower swing area hold support though This week, the price non-trended in an up and down range on Monday and into Tuesday.  At the lows of the up and down trading, the pair held trend line support - the last time at 1.1874. That proved to be the clue needed for traders to push the price higher in the NY session on Tuesday.  

FOREX Fri 16 Apr

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

The USD is marginally lower mostly As the North American session gets underway, the CHF is the strongest and the NZD is the weakest. The USD is modestly lower with most of the declines vs the CHF, CAD and EUR. The AUD, NZD, JPY and GBP are more near unchanged.  Stocks are marginally higher.  Yields are lower. Kaplan speaks later today.   US Housing starts and U of Mich. Sentiment will be released. After yesterday's strong claims and retail sales, the market will be looking for a move higher today in sentiment for April (Preliminary) to show the economic improvement.

EURUSD Fri 16 Apr

EUR/USD holds a little higher but still faces resistance closer to 1.2000

EUR/USD keeps higher in European trading so far The dollar is sitting more mixed on the day as it gains against other major currencies but is seen lower against the euro and franc currently.

GOLD Fri 16 Apr

Can gold stick with the breakout from yesterday?

Gold broke above resistance @ $1,755 to its highest levels since 26 February in US trading yesterday One, the chart is advocating stronger momentum for buyers now upon the break above $1,755 with further resistance seen closer to the 38.2 retracement level near $1,785 and then $1,800 level with the 100-day moving average (red line) nearby.

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GBPUSD Fri 16 Apr

Pound slips to start European morning trade

GBP/USD dragged down to a low of 1.3732 While the dollar is holding mildly firmer, the decline here owes more to fall in pound sentiment as EUR/GBP is notably taking a run at trying to get above the 0.8700 level.

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COPPER Thu 15 Apr

Copper breakout: This time for real?

Is the consolidation over? Look at the title of this new report from Goldman Sachs. That's the kind of thing to get anyone's attention: "Without a surge in the use of copper and other key metals, the substitution of renewables for oil will not happen," they write.

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GOLD Thu 15 Apr

Gold springs higher to break the March/April double top

Gold breaks the range to the upside Just when it looked like gold had formed a double top, it's broken out to the upside. Falling Treasury yields and the 'buy everything' mode in the markets at the moment have given a big lift to gold today. It's up $27 to $1763, which is the highest since February 25.

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FOREX Thu 15 Apr

The CAD is the strongest and the EUR is the weakest as NA traders enter for the day

The USD is mixed with declines vs the commodity complex (CAD, AUD and NZD) Looking at the ranges and changes, the overall price action is modest with all the major currency pairs trading a pretty good distance away from the 22 day averages (red line in the lower chart below). The EURUSD, and USDJPY ranges are only 31 pips. The USDCHF is even lower at 26 pips.

USD Thu 15 Apr

Dollar nudges a little higher awaiting US retail sales data

Dollar climbs to the highs for the day against the euro, pound, franc As mentioned, just be mindful that there is some expectation that we may see stronger numbers than anticipated - on top of the already strong estimates. So, there is a slight propensity to expect an upside surprise to the report later.

AUDUSD Thu 15 Apr

AUD/USD keeps the upside run going after slight pullback earlier in the day

AUD/USD pushes to fresh highs in over three weeks The pair is running with the upside momentum again after a slight pullback towards 0.7706-10 at the tail-end of Asia Pacific trading. The firmer risk mood to start European trading is helping somewhat, lifting AUD/USD to the highs for the day at 0.7753.


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