Down -$1.40 or -2.65% The price of crude oil futures are settling at $51.49. That is down -$1.40 or -2.65% on the day. OPEC today, failed to reveal an agreement at their meeting in Vienna. They cancelled its news conference, and instead awaits the Russian delegation set to arrive on Friday. It has just been
October 2018 US factory orders and revisions to durable goods orders The downward revisions are the story here. Durable goods orders revisions Durable goods orders -4.3% vs -2.4% expected Durable goods orders initially reported down 4.4% vs -2.6% expected Prior durable goods orders +0.7% Capital goods orders non-defense ex air 0.0% (unrevised) vs -0.5% prior
Tests a lower trend line Looking at the 4-hour chart of the CADJPY, the pair has made a break below the 200 day MA at 84.915 and below the swing lows from October 26 at 84.848 and the November 20 low at 84.60. Traders will use those levels as risk defining levels. Falling below the
Down -$0.36 or -0.68% The price of crude oil is settling today at $52.89. That is down -$0.36 or -0.68% on the day. The high price today reached up to $54.44. The low extended to $52.16. Technically, the price remains above the 100 and 200 hour MAs after testing those level earlier in the trading
Lows from 2018 stall the early fall The GBPUSD fell in the Asia-Pacific session and in doing so approached the lows for 2018 at 1.26612 (from August) and yesterday (at 1.2658). The low today reached 1.2670. The holding above those lows suggested buyers were leaning against the lows. They won. The sellers turned to buyers.
Gold shows signs of life Sentiment has worsened in equities with the S&P 500 now down a whopping 90 points to 2700. Normally you would expect a better outing from gold given the absolute beat down in stocks but this is a baby step for the precious metal. It could take a larger step if
Dow down close to -800 points. Nasdaq down -3.8%. Ouch. The stock market price action was U-G-L-Y… UGLY today. The major indices all fell over 3% on the day. S&P index fell -90.31 points or -3.24% at 2700.06. The high reached 2785.93. The low extended to 2697.18 Nasdaq index fell -283.08 points or 3.80% at
Near 50% of the days range. The GBPUSD has made an early run lower in the NY session after running higher in the European morning session. That move lower has moved to the 50% midpoint of the move up from yesterday’s low. It is also testing the 100 hour MA (blue overlay line on the
Major stock indices end higher The European equity markets are closed and the provisional closing levels are pointing to gains on the back of better US China trade relations. The provisional closes are showing: German DAX, +1.9% France’s CAC, +1.1% UK’s FTSE, +1.4% Italy’s FTSE MIB, +2.26% Portugal’s PSI 20, +1.52% In the 10 year
Highs from last week are resistance above. 100 and 200 hour MA are support below The USDCHF is setting itself up between technical levels in what has been an up and down session. At the lows today, the 100 and 200 hour MAs at 0.9966 and 0.99704 have stalled the falls. A move below would
Market is trying to figure out the direction for the USDJPY The USDJPY moved higher early in the day, on the back of risk on trade flows off the US/China news. The price rise moved above the 113.649-699 area. That area was a swing level from last week (bullish above./bearish below). The price momentum stalled.
Parity level approached. Yesterday the USDCHF moved higher, helped by a much weaker 3Q GDP data (-0.2%). The run higher stalled near the 100 hour MA (blue line in the chart below). Today, that MA level was broken. The price ran higher and now trades above the 38.2% of the move down from the November
New highs for the pair The USDJPY came down and tested a lower trend line before the US stock opening. That trend line held. Stocks are moving higher now on hopes of a China/US agreement over the weekend. The 100 hour MA above has now been breached. The price is not running higher. There
Next target broken and send the price to new lows as the London/Europe market works toward the close. The EURUSD continues to press lower, now falling below the underside of the broken trend line and the swing area at 1.1321-25. Sellers have been in control since the high at 1.1400 stalled the early session high.
UK FTSE down 1% The major European indices are ending the week with mixed results. German DAX, -0.4% France’s CAC, -0.2% UK’s FTSE, -1.0% Spain’s Ibex, +0.3% Italy’s FTSE MIB, +0.15% Portugal’s PSI 20, +0.18% For the week, the indices are ending higher (some marginally). The Italian FTSE MIB has the largest gain. German DAX,
0.6886 is the high for November The NZDUSD is finding some buyers into the London/European close/weekend. The price has moved to a new session high and in the process is moving away from the 200 day MA below at 0.6860 and looks to test the November high (high since June) at 0.6886. The high just
August and October swing lows at 1.1300 The EURUSD moved below a broken trend line and swing area at 1.1321-25. What is important for the bias, is the price could not move back above that area. Sellers remain in control. What next? Looking at the daily chart, the 1.1300 level was the low in August
100 hour MA and trend line risk levels now The USDJPY has pushed to new highs and in the process has reached the swing area target at 113.649-699. Earlier this week, the price did move above that level, only to move back below and reestablish the level as resistance (see red circle 8) after more