Technical Analysis

EURUSD tries to tilt a little higher in very quiet trading

Only in a 10 pip range The EURUSD is trying to tilt a little higher in very quiet trading. The pair fell sharply on Friday, stepping below the 100 day MA, the 38.2% and 50% retracements of the move up from the May 30 high.  The price fell below the 100 bar MA on the 4-hour chart (at 1.1231) and the 200 bar MA on the 4-hour chart (at 1.12118). The fall stalled near the 61.8% of the move up at 1.12039. The low stalled at 1.12019.  

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FOREX Sun 16 Jun

The dollar is little changed as the week's trading gets going

The week is off and away but not far from the Friday levels. The currency week is off and away with the major indices + or - about 6 pips. Versus the Bloomberg closing levels:

FOREX Sun 16 Jun

Some indicative rates for the major currency pairs

LIttle changed on the major currency. Below are indicative rates for the opening.   EURUSD: 1.1207, -2 pips USDJPY: 108.51, -5 pips GBPUSD: 1.2591 + 2 pips

EURUSD Fri 14 Jun

Dollar continues to move higher

Dollar at day highs vs EUR, GBP, CAD, AUD and NZD The dollar continues its move higher. IN the current hourly bar, the dollar has made new highs vs the EUR, GBP, CAD, AUD and NZD. That is some buying. 

GOLD Fri 14 Jun

Gold dips on the stronger dollar

Move above topside channel trend line failed The price of gold is trading off highs but is still higher on the day.  The current price is at $1347 up above $4.55. The high reached $1358.26. The low for the day reached $1341.93.

USDCAD Fri 14 Jun

USDCAD moves above the 100 day MA and swing area

CAD lower but the Toronto Raptors are NBA champions The CAD may be lower today, but the Toronto Raptors are the NBA Champions. Adam jumped on that bandwagon (O Canada) and is recovered from his favorite Boston Bruins losing in game 7 of the NHL Stanley Cup on Wednesday night (he would have preferred the Bruins won I think).

SP Fri 14 Jun

US stocks open lower but off pre-market lows

Nasdaq leads the way lower The US major stock indices are opening lower, but off the pre-market lows for the day.  The NASDAQ leads the way to the downside.  Chip stocks are under pressure after Broadcoms earnings and warnings from China and Huawei.

GBPUSD Fri 14 Jun

GBPUSD trades to fresh lows. Looks toward 1.2600-10 area

GBPUSD takes out levels on the back of the stronger US retail sales. Recall from yesterday The better US retail sales data in the US has now pushe the price below the 61.8% and a lower trend line at 1.2624.  The swing low from June 3 at 1.2510 and the natural support at 1.2600 area now downside targets.   Below that, the 1.2580  and 1.2558 will be targeted.

EURUSD Fri 14 Jun

EURUSD trades to new session lows and targets 50% retracement

Moves below the 1.12508 level The EURUSD trades to new session lows and targets the 50% retracement of the move up from the May 30 low. We just extended to that level as I type.  That level comes in at 1.12312.  

USDJPY Fri 14 Jun

USDJPY moves higher and tests 200 hour MA after US retail sales data

200 hour MA at 108.35. The 100 hour MA is at 108.44 The better (with revisions included) retail sales for May (and April) has sent the USDJPY back to the upside. The better data sent the pair from near the lows at 108.16 area, toward the 200 hour MA at 108.353. The price has moved to a high of 108.40 so far.  Above the 200 hour MA sits the 100 hour MA at 108.441 (blue line).  A topside trend line cuts across at 108.52.

EURUSD Fri 14 Jun

EURUSD hangs above and below 100 day MA ahead of retail sales

100 day MA at 1.12687 The EURUSD traded above its 100 day MA today until the last 4 or so hours. The price finally fell below and reached down tot he June 7 low.

FOREX Fri 14 Jun

The JPY is the strongest while the NZD is the weakest as NA trader enter for the day

Retail sales highlights the economic releases as traders prepare for the Friday trade The JPY is the strongest while the NZD is the weakest as a "risk off" sentiment (PMI manufacturing data was lower in NZ as well) prevails in the market at the start of the NY session.   Stocks are lower as Broadcom disappointed and spoke of China risk (Nasdaq stocks taking the most heat). China Industrial production was weak, but retail sales were better.   US retail sales will be released at 8:30 AM ET.  Industrial Production/Cap. Utilization will be released at 9:15 AM ET. and Univ of Michigan sentiment will come out at 10 AM ET. It is also Friday which can bring about it's own ups and downs as traders square up/tighten up positions for fear of weekend event risk.  Tensions in middle east and Trump tweets can be risk event issues.

GBPUSD Fri 14 Jun

Cable falls to near two-week low as dollar gathers some strength

GBP/USD falls to a low of 1.2634, weakest level since 3 June ForexLive The dollar is posting fresh gains on the session, rising against the likes of the euro, pound, swissie and loonie with cable notably falling to its weakest level in almost two weeks. This comes after price was rejected at key near-term levels overnight around the 100 and 200-hour moving averages as seen above.

EURUSD Fri 14 Jun

EUR/USD sellers maintain near-term bearish bias; US retail sales data eyed

EUR/USD is challenging the 200-hour MA but so far sellers are winning out ForexLive The pair briefly hit a session high of 1.1289 but sellers are continuing to hold a defense of the 200-hour MA (blue line) @ 1.1287, thus maintaining near-term control in the pair. Despite the slight extension higher earlier, price action remains rather muted today with the range only a mere 19 pips.

USDJPY Fri 14 Jun

USD/JPY inches towards week's lows as risk mood softens slightly

USD/JPY hits a low of 108.16 on the day ForexLive US equity futures have moved lower alongside Treasury yields with the former down by 0.2% on the day at the lows, while 10-year yields are weaker by 2.6 bps to 2.068% currently. Economic data from China certainly didn't help with that as we saw China's industrial activity expanded by its weakest on an annual basis since February 2002.

GOLD Fri 14 Jun

Gold surges to its highest levels since April 2018

A quick surge higher sees gold move past $1,350 ForexLive Bullion takes out the highs for the year and is running stops above $1,350 as price looks to break out to test the highs of last year again. Gold has been on a tear in recent weeks as global central banks grow increasingly dovish amid global trade tensions, which has helped to reestablish the allure in the commodity as a safe haven.

SP Thu 13 Jun

US stocks has a late day move higher and close nearer session highs.

Reverse the declines from yesterday The major indices moved a bit higher into the close and although the indices are closing off the highs, they are closing closer to the day highs.    The small cap Russell index did close near the  highs though (up 1.05%).  

EURUSD Thu 13 Jun

EURUSD stays below trend line and 200 hour MA

100 day MA below is support.  In the new day, something will have to give.   Watch those levels for a break and momentum.  A move below will target the 61.8% at 1.1254 as the initial target. The upside target will initially need to get above the 1.1290 level and then will look toward the 100 hour MA at 1.1310. 

STOCKS Thu 13 Jun

Stocks giving up some of gains as the day works toward the close

Nasdaq stays below 50 day MA today The major stock indices are given up some of their gains as the market moves toward the day's close. The major indices trade near session lows


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