German Dax makes new all time highs The German Dax broke higher today and in the process moved to a new all time high at 15473.83. The price of the index had been waffling up and down over the last 8 trading days in a non-trending market before breaking higher and running to the upside.
Price trended higher this week. In my latest video, I focus on the non-trending nature of the AUDUSD and how it based and rocketed higher. You can see it HERE. The price moved up around 180 pips from the low in the NY session on Tuesday, and above 138 pips after the pair moved back
WTI crude oil futures to settle at $63.13, up $0.33 or 0.52% the price of WTI crude oil futures are settling at $63.13. That is up $0.33 or 0.52%. The high price for the day reached $63.88. The low price extended to $62.83. The June contract settled lower by $0.32 at $63.14 Technically, the price is
CFTC Commitments of Traders: Little changes in the futures net position data for the week Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly forex futures positioning data for the CFTC for the week ending April 13, 2021 EUR long 67K vs 68K long last week.
Learn how to catch more trends by following that simple trading mantra [embedded content] Many traders look at sideways markets as a time to fall asleep and ignore that market or specific currency pair. In reality, there comes a time in the sideways markets, where you need to become uber aware of the price action. The reason?
I still don’t trust it, but buyers are making a play on the sharp run higher I have not been a big fan of the GBPUSD of late. It has had an overabundance of very volatile up and down price action (which is different than non-trending). It does not have a rhythm. Case in point, the price tumbled
Gold breaks the range to the upside Just when it looked like gold had formed a double top, it’s broken out to the upside. Falling Treasury yields and the ‘buy everything’ mode in the markets at the moment have given a big lift to gold today. It’s up $27 to $1763, which is the highest
Is the consolidation over? Look at the title of this new report from Goldman Sachs. That’s the kind of thing to get anyone’s attention: “Without a surge in the use of copper and other key metals, the substitution of renewables for oil will not happen,” they write. Copper is certainly surging today, up 2% to
No new records today as investors focus attention on Coinbase debut The US stocks are ending the session with mixed results. The Dow did snap eight to date losing streak, but the S&P and NASDAQ index both close lower with the NASDAQ index taking on most of the downward heat. The S&P index reached a new all-time intraday
USD/CAD flat on the day USD/CAD rose earlier but erased the gains after a surprise drawdown in US energy inventories led to a rally in oil prices. The loonie is the best G10 performer this year but has moved sideways since mid-March, in part due to rising covid cases and new lockdowns. Those numbers remain
Dow lags today The S&P index closed at an all-time record high. The NASDAQ 100 also closes at a record level. The NASDAQ composite is still below its all-time high reached on February 16 at 14175.12. The small-cap Russell index was down on the day as was the Dow industrial average. The Dow was dragged down by IBM, Nike, J&J
Pair remains in 75 pip trading range The NZDUSD broke below a lower pennant trend line in the Asian session which targeted the next key swing area in the 0.6994 to 0.70014 area. The pair tried to break below that area and get out of what has been a 75 pip trading range since April
Holds gains on the day, but in a neutral area The GBPUSD opened the NY session with strong gains that took the price above its 100 hour MA. However, for most of the NY session, the price corrected lower, falling back below the 100 hour MA currently at 1.3748. On the way, the pair fell
Tests a swing area…. The USDCHF as point to a new session low and in the process is testing a swing area between 0.92127 and 0.92222. On March 4, the price broke higher and based in that area before surging to the upside. Swing lows on March 16, March 17, March 22 and March 23 all based in that area. Traders may look to lean against
Oil flat today I did a video recently where I talk about the importance of watching markets that aren’t moving and aren’t grabbing headlines. At the moment, that’s oil. WTI is flat today and looks like it will stack up another doji star on the chart. It’s normally one of the most-volatile assets but it’s
The low today stalled at swing area. Price is between 100/200 hour MA The AUDUSD is stuck in a range (stuck in the mud) which has mostly been between 0.7577-87 on the downside, and 0.7653-63 on the topside. The low today stalled at the upper end of the lower range at 0.75877. The high today
4 hour chart shows the progression lower. The USDCHF this week trended lower and along the way, cracked below some downside technical levels. Looking at the 4-hour chart above, the price started the technical breaks below an upward sloping trend line, fell below the 100 bar MA (blue line) and then the 200 bar
CFTC Commitments of Traders: EUR longs continue to get covered. JPY shorts remain steady Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly forex futures positioning data for the CFTC for the week ending March 30, 2021 EUR long 68K vs 74K long last week. Longs