Major indices fall sharply on day but off lows The bell has rung and it was another down day for the major indices. This week 4 of 5 days closed lower. Stocks on pace for their worst months since October 2008 The closing levels are showing: S&P index fell 47.12 points or -1.74% at 2658.48.
Underside of broken trend line tested at 112.09. Can it stall the rally here? The USDJPY fell below its 100 day MA and tested a swing target at 111.39. That is where the selling stalled. Getting back above the 100 day MA (see 5- minute chart) turned the tide back to the upside. The rally
E-minis are extending losses on the day, down by almost 1.5% currently ForexLive And that is helping to keep the Japanese yen further bid on the session as USD/JPY touches a low of 111.87 today. Alongside it, we’re seeing a breakdown in technical levels as AUD/JPY touches a near-two year low and falling further now
Earnings after the close S&P closes up 49.47 points or 1.86% at 2705.57 Nasdaq closes up 209.93 or 2.95% at 7318.33 Dow closes up 401 points or 1.63% at 24984.55 The gains helped to take some of the sting out of the 3% decline in the S&P yesterday and the 4.4% decline in the Nasdaq.
Steps higher continue The USDJPY has been stepping higher in trading today. The 200 hour MA was broken. The 100 hour MA was broken. Now the pair is up testing the topside trend line connecting the highs for the week (see earlier post targeting the level). That comes in at 112.65. We are currently just
USD/JPY touches a high of 112.36 on the day ForexLive And other yen pairs also touched fresh highs for the session with EUR/JPY moving to 128.18 and GBP/JPY to 145.04 briefly moments ago. The turnaround here comes as E-minis are now trading up by 0.6% to session highs as well and European equities are mostly
Nikkei down 3.2% A drop in Japanese stock markets to the lowest since April has sent USD/JPY below the weekly lows at 111.95 and tripped stops down to 111.84. There is talk of real-money bids at 111.70 and layered below. A break of 111.63 would be the lowest in six weeks. USD/JPY 1 hour: ForexLive
Earlier test stalled the fall Looking at the 4-hour chart below, the price of the EURUSD is back down testing a lower trend line at 1.13818. Earlier in the day, that line was tested (ticked below it, but failed). The correction off the bottom today could only get back to the 1.1410 level (in the
Another factor that’s weighing on the pound today Is this the end of the road for Theresa May? She’s set to address lawmakers from her own party later today (no scheduled time that I can find so far) in a private meeting at parliament and she’ll likely come under scrutiny and questioning on her Brexit
Still a down day seems like an up day The US stocks staged a huge comeback into the US afternoon session, but ran out of steam and the major indices are ending with relatively modest declines. It is one of those days where although lower on the day, it seems like an up day.
Market cheering a 1% decline. Yippee. The correction in the major stock indices continue. The S&P index and Nasdaq just traded at new session highs. That is the good news. The not so good news, is the market is cheering near -1% declines in the major indices. Eh, it is still better than the session
USD/JPY falls to a low of 112.22 on the day ForexLive Price now looks to threaten a break of the 200-hour MA (blue line) @ 112.31 after having broken below the 100-hour MA (red line) earlier. Hold a break below the former and near-term price bias turns more bearish for the pair. E-minis are still
Nasdaq closes higher. S&P and Dow end the session lower The major US indices are ending the session mixed: The S&P closed down -11.9 points or -0.43% at 2755.88. The high reached 2778.94. The low extended to 2749.22 The Nasdaq closed up 19.603 points up 0.26% at 7468.62. The high reached 7520.53. The low extended
USD moves higher with GBPUSD leading the way. A snapshot of the forex market at midday is showing that the USD is now the strongest (it was the CAD). The GBP remains the weakest – it was the weakest earlier in the day. The fall in the GBP has increased in the North American morning
EUR/USD has nearly pared all of its gains on the day now ForexLive The pair now heads back towards a test of the 100-hour MA (red line) after failing to hold a break above the 200-hour MA (blue line) with minor resistance close to 1.1550 helping to limit gains on the day. This comes as
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Weakening outlook for GBP The situation for Britain coming out of the EU Summit looks at putting further uncertainty ahead for the GBP. No hint of a deal and more problems than solutions. Admittedly the problem is the same one, what to do about the N. Irish Border, but the outlook for a solution is
GBPUSD falling off 100 EMA The 100 EMA (blue line) halted the rise of GBP/USD on the 15 minute chart. Stay below and we are looking at testing the daily lows again. With all the bearish sentiment around I would expect a second test break through the support level and head through 1.3000 ForexLive