Technical Analysis

EURUSD falls to NY session low

Below the swing low from April 29th The EURUSD has dipped below the swing high from April 29 at 1.21494. The price moved above that level on Friday's run to the upside and apart from hour or in the early European session today, had stayed above the level until the last hourly bar saw the price break back below the level.  Stay below is more bearish in the short term.

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CRUDE-OIL Mon 10 May

Crude oil futures settle at $64.92

Up two cents or +0.03% The high for the day reached $65.75. The low was at $63.95.  The price is settling toward the middle of the range for the day and near unchanged on the day. 


The major European indices close mostly higher

France's CAC lower In other markets as European/London traders look to exit:

USDJPY Mon 10 May

USDJPY trades midrange after testing 200 hour MA

The price consolidates below 38.2%/recent swing area The USDJPY is trading midrange after the Asian/early European sessions run higher stalled just ahead of the 200 hour MA (green line in the chart below). Sellers leaned (the 100 hour MA was near that level as well).  

EURUSD Mon 10 May

EURUSD backs off highs for the day. Trades in the red

Traders buy the dollar  The US stocks remain mixed with Dow at new records and the Nasdaq continuing to get hit. The S&P has tilted a little to the downside as well.

SP Mon 10 May

US stocks open mixed. NASDAQ lags. New record high for the Dow

S&P near unchanged after record close on Friday The US stocks are opening mixed. The rotation out of the NASDAQ continues as Facebook and Alphabet are downgraded by Citibank to neutral. The Dow is trading at a new record high. The S&P is trading above below unchanged after Friday's record close.

GBPUSD Mon 10 May

GBPUSD trends higher as risk of Scottish referendum recedes

Pair trends higher on the day The GBPUSD has moved higher after Scottish national parties election push backed the potential for a independence  vote. The pair trended to the highest level since February 25. The price has reached and intraday high at 1.4158. The high price for 2021 is at 1.4240 back on February 24.


The major earnings releases this week

Some of the relatively newer companies report along with Disney, Nissan, Toyota and Honda As the successful earnings calendar starts to wind down, there still are some relatively interesting earnings releases this week including some of the newer companies.  Disney, Nissan, Toyota and Honda will also release. 

FOREX Mon 10 May

The GBP is the strongest and the JPY is the weakest as the NA session begins

The USD is tilted to the downside. The GBP is the strongest and the JPY is the weakest as the NA session begins. The USD is tilting to the downside.  The Colonial pipeline is still down after a ransomware attack but is not supposed to disrupt supply for long. The price of copper and iron ore reached new all time highs overnight.  The US will continue to digest the weaker than expected employment report "the Monday after", but the stock market rotation continues with S&P and Dow higher  (and at record levels) while the Nasdaq index is down in pre-market trading. On Friday, the Nasdaq led the way higher with a gain of 119.40 points.  The UK risk of a Scottish breakup was averted for now at least.  

AUDUSD Mon 10 May

AUD/USD looks towards 0.8000 again as buyers keep with the break above 0.7800

AUD/USD trades to fresh highs of 0.7880, its highest since 26 February The AUD/USD chart is one that holds some similarity to the at the moment. GBP/USD chart

GBPUSD Mon 10 May

Cable gains to fresh highs since late February as buyers keep break above 1.4000

GBP/USD hits a session high of 1.4080 With the BOE in angling towards tapering last week and the market quickly brushing aside risks of a second Scottish independence referendum, the pound is on a tear to start the new week.

USD Mon 10 May

Dollar keeps more vulnerable to start the new week

The dollar is under pressure technically across multiple pairs After the NFP miss on Friday, the dollar was sold off and despite the bond market having second thoughts about the data blip, the greenback failed to recover and is staying pressured as we get things going in European trading today.

SP Fri 7 May

Dow and S&P close at record levels

Major indices all close higher The final closing levels are showing: For the trading week, the NASDAQ index declined while the Dow and S&P both rose.

CFTC Fri 7 May

CFTC commitments of traders: The loonie longs increased by 10K in the current week

Weekly forex futures positioning data from the CFTC for the week ending May 4, 2021 - EUR long 85K vs 81K long last week. Longs increased by 4K - GBP long 20K vs 29K long last week. Longs trimmed by 9K

DOLLAR Fri 7 May

US dollar moves to new lows vs some of the major currencies as the day moves toward the close

New lows vs EUR, GBP, CHF The USD is moving to new lows vs some of the major currencies. More specifically, the dollar is trading at new lows vs the EUR, GBP and CHF. 

USDCHF Fri 7 May

USDCHF trades to the lowest level since Feb 23

Price is back below the 100/200 day MA The USDCHF has moved lower with the dollar selling today and in the process has moved below and away from both the 100 and 200 day moving averages. Those moving averages come in at 0.9073 and 0.9084. The price has has trended down to a low of 0.9077.


10 year yield back into positive territory

Retraces most of the declines Technically, the 50% of the move down from the April high comes in at 1.585%. The following 100 hour moving average comes in a 1.589%. The yield last traded above its 100 hour moving average on May 3.

EURUSD Fri 7 May

EURUSD trades to new highs for the day

New highs as London/European traders look to exit The EURUSD is trading to a new session highs and in the process has broken above the April high of 1.2149 and trades the highest level since February 26. The next targets comes at 1.2169 and 1.2189. 


European shares close higher. France's CAC trades closes at a new high going back to 2000

Solid week for the major indices as well The European shares a closing higher with the German DAX rising 1.2% leading the way. The major indices also closed higher for the week.

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