EURUSD corrects back below the 100 day moving averageThe EURUSD raced higher today, and in the process extended above the 50% midpoint of the move down from the August high. That level comes in at 1.09148. The price also moved above a swing area between 1.0911 and...
Apple (AAPL) breaks above it 50 day MA. Increases the bullish bias.
US stocks are moving higher in trading here today. The NASDAQ index is up 0.48%. The S&P index is up 0.32%. In the process, Apple is making another run to the upside (AAPL). Its shares are currently up $2.90 or 1.58% $187. Technically the prices moving above a...
European equity close: A breather after a strong start to the week
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
EURGBP rotates back down to test its rising 100 hour moving average. Key barometer today
The EURGBP - both yesterday and today - moved up to test a swing area between 0.8609 and 0.8611 (see video yesterday HERE). Sellers leaned on each day. That area's importance increased on the hold. The ceiling is in place. The up and down move lower today, has now...
RBC trade of the week: Sell AUD/CAD
AUDCAD daily RBC added a short AUD/CAD position in its trade of the week portfolio targeting a move towards 0.8600, with a stop at 0.8850. "The bounce in the AUD-crosses over the last two weeks looks ripe to sell as we await key data in China later in the week," RBC...
US weekly EIA crude oil inventories -10584K vs -3267K expected
WTI crude dailyPrior crude -6135KKGasoline -214K vs -933K expectedDistillates +1235K vs +189K expectedRefinery utilization -1.2% vs +0.0% expectedProduction estimate 12.8 mbpd vs 12.8 mbpd priorImpld mogas demand: 9.07 mbpd vs 8.91 mbpd priorThe API data late...
US dollar moves lower vs all the major currencies. The greenback is the weakest currency.
The USD has moved lower in the US session after some weaker data in the US (ADP, GDP) pushed the greenback lower. The GBPUSD is the biggest mover with the dollar losing -0.78% against it. The USD is down only -0.12% against the JPY. USD is now the weakest of the major...
US pending home sales for July +0.9% versus -0.6% estimate
US pending home sales has back to back gainsPrior month 0.3% revised to 0.4%Pending home sales for July 0.9% versus -0.6% estimatePending home sales index 77.6 vs 76.8 last month.The Pending Home Sales Index (PHS), a leading indicator of housing activity, measures...
EURUSD trades above its 100 day moving average at 1.09258
EURUSD breaks above its 100 day moving averageThe EURUSD has surpassed its 100-day moving average, currently at 1.09258, reaching a high of 1.09338. On August 22, the currency pair approached this moving average but encountered resistance from sellers. Similarly, on...
US stocks open mixed. NASDAQ trades above and below unchanged
After solid gains yesterday propelled the S&P and NASDAQ index to the best day of the calendar month, the major indices are opening up with mixed results. The NASDAQ index trades above and below unchanged. The Dow industrial average is up around 0.2%.A snapshot of...
AUDUSD buyers make a play with work to do to give buyers more control
The AUDUSD price moved lower in the Asian-Pacific session after lower-than-expected in Australia. However, momentum could not be sustained and the USD selling on the back of weaker ADP and GDP helped to push the price above the high from last week and the high from...
August 30, 2023: Kickstart your FX trading day. A technical look at EURUSD, USDJPY, GBPUSD
EURUSD: The EURUSD is up testing at 100-day moving average. The last 3 tests of that moving average have found willing seller's. That moving average comes at 1.09258. It will be a key barometer for the pair in the short-term. Move above is more bullish.USDJPY: The...
Another round of data misses, another round of dollar selling. What’s driving the move.
The FX market appears to be teeing up a repeat of yesterday's price action as soft economic data led to US dollar selling and a bid in bonds. This time it doesn't appear to be accompanied by bids in equities, but it's early.The dollar is at the lows of the day right...
US July advanced wholesale inventories -0.1% versus 0.2% estimate
US wholesale inventories for July 2023Advance Wholesale InventoriesJuly inventories: $903.1 billionChange from June 2023: Down 0.1% Change from July 2022: Up 0.5%May-June 2023 change: Revised from -0.5% to -0.7%Advance Retail InventoriesJuly inventories: $784.1...
US Q2 GDP (second look) +2.1% vs +2.4% expected
The advance Q1 reading was +2.4%Final Q1 reading was +2.0% annualizedQ4 was +2.6% annualizedDetails:Consumer spending +1.7% vs +1.6% advanceConsumer spending on durables -0.3% vs +16.3% priorGDP final sales +2.2% vs +2.3% advanceGDP deflator +2.0% vs +2.2% advanceCore...
US advanced goods trade balance for July -$91.18 billion versus $-90.0 billion estimate
Advanced goods trade balancePrior month $-87.84 billion revised to $88.8 billion in JuneAdvanced goods trade balance for July 2023 -$91.2B versus -$90.0 billion estimateExports $164.8B versus $162.4 billion last month. Up $2.4 billion from JuneImports $256.0B versus...
What Are the 5 Cheapest Prop Firms In 2023?
Online prop firms are a great way for traders to scale their capital and increase their profits in the markets without needing to find investors or compound their accounts for many years. However, prop firms can be expensive, and not everyone can afford them;...
ADP US August employment +177K vs +195K expected
Prior was +324K (revised to 371K)Details:small (less than 50 employees) +18K vs +237K priormedium firms (500 – 499) +79K vs +138K priorlarge (greater than 499 employees) +83K vs -67K priorJob stayers 5.9% vs 6.2%Job changers 9.5% vs 10.2%Last month this data point was...
Germany August preliminary CPI +6.1% vs +6.0% y/y expected
Prior +6.2%CPI +0.3% vs +0.3% m/m expectedPrior +0.3%HICP +6.4% vs +6.3% y/y expectedPrior +6.5%HICP +0.4% vs +0.3% m/m expectedPrior +0.5%The headline reading is a touch above estimates but still below the July reading at least. And that comes after the mixed state...
Ethereum Technical Analysis – Key resistance in sight
Yesterday Bitcoin jumped following the news that Greyscale won the lawsuit against the SEC as the D.C. court ruled that the SEC improperly rejected the Bitcoin spot ETF. This was seen as a positive news as Greyscale will have to reapply for a spot ETF but that an ETF...