Author: FX
EURUSD tests the 100 hour MAYou can expect some profit taking into the weekend in this area. The 200 hour MA is up at 1.0708 and it would take a move above that level, to increase the bullish bias. Recall from yesterday, the price stalled against the 200 hour moving average increasing the levels importance going forward.Safe it to say, we will be going into the weekend with the price near the MA levels as the market ponders in the new week, whether the dollar moves higher (back down for the EURUSD) or lower (higher for the EURUSD). This area…
Share: The EUR/JPY is registering gains of 2.22% in the week after facing solid resistance around 143.60. EUR/JPY Price Analysis: In consolidation within a 130 pip range circa the 143.00 psychological barriers. The EUR/JPY hit a fresh weekly high at 143.67 but reversed some of those gains, resting comfortably above Thursday’s high ahead of the weekend. Therefore, the EUR/JPY exchanges hands at 143.40 after dropping to a low of 142.91. EUR/JPY began the week at around the 200-day Exponential Moving Average (EMA) at 140.32 before rallying sharply towards the 142.38 Tuesday high. Since that day, the EUR/JPY consolidated…
The major US stock indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a…
Crude oil moved down to the 61.8% retracementThe price of WTI crude futures is settling at $76.34. That’s down $2.15 or -2.74%.The low price reached $75.32. High price was at $70.50.For the trading week the price is down about -3.9%. At the week high of $80.60, the price was up $0.90 versus the close from last Friday. At the week low of $75.32 reached today, the price is down $-4.40. The current price for the week is down around $3.05.Looking at the hourly chart, the load today stalled near the 61.8% retracement of the February trading range before bouncing back…
Spencer Platt U.S. stocks on Friday had made a late-session upward push, helped by gains in defensive sectors. Wall Street’s major indices remained mixed, however, as worries over the Federal Reserve’s path on rate hikes going forward weighed on sentiment. By late afternoon, the tech-heavy Nasdaq Composite (COMP.IND) had pared some some of its losses and was now down 0.81% to 11,759.74 points. The benchmark S&P 500 (SP500) was lower by 0.42% to 4,073.29 points, while the Dow (DJI) had reversed course and was now up 0.24% to 33,778.87 points, helped by a jump in shares of Amgen (AMGN). Of…
<p>If you were to glance at stock markets today, you would get the impression it was a 'risk off' day and that was true to a large extent early in the day but it's unwound in both forex and bonds in US trading.</p><p>The US dollar is generally lower today overall with losses against the pound and euro while gaining some ground against the loonie and yen.</p><p>On the news front, there hasn't been much to digest. The Fed's Barkin <a href="https://www.forexlive.com/centralbank/feds-barkin-not-taking-signal-from-jobs-retail-sales-due-to-seasonal-adjustments-20230217/" target="_blank" rel="follow">downplayed </a>the recent CPI and retail sales numbers as potentially skewed by seasonals while Bowman <a href="https://www.forexlive.com/centralbank/feds-bowman-were-seeing-a-lot-of-inconsistent-data-on-economic-conditions-20230217/" target="_blank" rel="follow">expressed…
miner CleanSpark is growing its mining capacity in the United States with the purchase of 20,000 new Antminer S19j Pro+ units for $43.6 million. The acquisition is expected to boost the company’s computing power by 37% and brings the total number of miners purchased during the bear market to 46,500 units. According to a statement on Feb. 16, CleanSpark will pay $32.3 million for the machines after applying coupons at a 25% discount or a total price per terahash (TH) of approximately $13.25. The Pro+ rigs are 22% more productive than their previous models and are planned to be delivered…
Share: The GBP/USD is staging a recovery after diving to fresh February lows around 1.1914 in the mid-North American session, bolstered by overall US Dollar (USD) weakness. Nevertheless, it remains trading below the important 200-day Exponential Moving Average (EMA) at 1.2132, keeping the downtrend intact. At the time of writing, the GBP/USD is exchanging hands above the 1.2020 figure, above its opening price by 0.30%. Read More… The GBP/USD pair remains under heavy selling pressure for the third straight day on Friday and drops to its lowest level since January 6 during the first half of the European…
Share: GBP/USD is set to finish the week with losses of 0.16%. Softer UK’s inflation data warrant further action by the BoE but in smaller steps. Hotter-than-expected January US CPI and PPI figures justify Fed official’s calls for a 50 bps increase in upcoming meetings. The GBP/USD is staging a recovery after diving to fresh February lows around 1.1914 in the mid-North American session, bolstered by overall US Dollar (USD) weakness. Nevertheless, it remains trading below the important 200-day Exponential Moving Average (EMA) at 1.2132, keeping the downtrend intact. At the time of writing, the GBP/USD is exchanging…
EURUSD daily with moving averagesThe euro slide isn’t over.MUFG suggests selling the euro from 1.0675 (near spot) with a target of 1.0350 and a stop at 1.0850.”We are recommending a ne wshort EUR/USD trade idea to reflect our view that there is room for the reversal lower to extend further in the near-term. We are expecting the pair to fall back towards support from the 200-day moving average that comes in at around 1.0330,” MUFG writes.For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium…