Technical Analysis

Gold looks toward the 100 day MA nd . Key technical level.

Double top earlier this month The price of Gold is higher on the day by $6.82 at $1331.66.  The bounce is good technically. The last two days moved down toward the 100 day MA (blue line currently at $1319.29).  The low reached $1322.75. The prior two other tests of the MA stalled the fall too.  

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SP Tue 24 Apr

Stocks in the red now. S&P turns negative on the day

Trades around unchanged The major stock indices are now trading in the red. The S&P is down -1 point or -0.07% at 2669. The high reache 2683.55 The Dow is down about 40 points or -0.18%

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EURUSD Tue 24 Apr

EURUSD consolidates around the 100 day MA as traders look for the next push

100 day MA at 1.22049 The EURUSD is trading above and below its 100 day MA at 1.22049. The price for the pair breached the 100 day MA yesterday by a few pips (low 1.21968). That was the first time since December 19th. 

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FOREX Tue 24 Apr

The CAD is the strongest and the NZD is the weakest as the NA session begins

The USD is mostly lower The CAD is the strongest the NZD is the weakest in the snapshot at the start of the North American session.  The USD is mostly lower with the exception of the NZD and JPY. The NZDUSD continues to fall ().

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GBPUSD Tue 24 Apr

Cable heads towards a test of the 100-day moving average

GBP/USD hovers near session lows as the dollar leads the way again The pair is now trading at 1.3922 just off the lows at 1.3918 on the day. Looking at the daily chart, the daily close below the 30 January low of 1.3980 opens up the way for a retest of the 100-day MA (red line) @ 1.3855.

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NZDUSD Tue 24 Apr

Kiwi's free fall against dollar stalls at first key support level, what's next?

The NZD is the weakest performing major currency today A lot of the decline in the kiwi today owes to the fact of a break of key technical levels this year. The 38.2 retracement level @ 0.7187 and the 200-day MA (blue line) has been a level that has helped to stall declines in at least four attempts this year previously.

EURUSD Tue 24 Apr

It's crunch time for EUR/USD

EUR/USD is flirting with key technical levels The pair is now trading at 1.2208, after falling to a low of 1.2185 on the day. The range is still relatively subdued, but this is where things really start to heat up for both buyers and sellers.

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SP Mon 23 Apr

US stocks end the session lower but a late day bounce cuts some of the losses

Nasdaq hurt the most. Alphabet earnings beat The major US stock indices are ending the lower. However there was a late day bounce that cut into some of the losses.

STOCKS Mon 23 Apr

Stocks reverse and trade at session lows. USDJPY tilts lower too.

S&P down -13. Nasdaq down -50 points The US stocks have turned to the downside and trade at session lows. The USDJPY also followed their move and is giving up some of the trend gains too.

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GBPUSD Mon 23 Apr

GBPUSD makes new lows for the day. Lower trend line target chased.

Downward sloping trend line at 1.3918 now (and moving lower) The GBPUSD has continued the march lower. The correction in the NY session stalled in the beginning of April swing levels at the 1.2965-81 area (the high reached 1.3976 ().  The high after that could only get to 1.39618. Sellers remained in control. 

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USDCAD Mon 23 Apr

USDCAD moves above 200 bar MA on 4-hour, and 50% retracement. Can't be ignored.

Did not stall much against the dual technical levels (bullish) The USDCAD has moved above both the 200 bar MA on 4-hour chart(green line at 1.2819) and the 50% retracement of the move down from the March high in trading today.

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USDCAD Mon 23 Apr

USDCAD moves above 200 hour MA and 50% retracement. Can't be ignored.

Did not stall much against the dual level The USDCAD has moved above both the 200 hour MA (green line at 1.2819) and the 50% retracement of the move down from the March high in trading today.

EURUSD Mon 23 Apr

EURUSD heads toward the test of the 100 day MA at 1.2202

The month low has been extended the EURUSD has been able to extend lower and has now extended the narrow trading range for the month (from 200 pips to 204 pips - its a start). That is still very low but there is some key support below that still needs to be busted. 

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NZDUSD Mon 23 Apr

NZDUSD tests 2018 low... Below 200 day MA and 38.2% retracement

Low for the year at 0.7152 The NZDUSD has moved to new lows today, continuing the run lower started last week. The pair (with today's fall) is now down 5 straight days and 6 of the last 7 days. The high over that period reached 0.739449. The low today reached 0.71538. That low was just above the low for the year at 0.71522.  The first test found modest buyers. On a break, the 0.7130 is the swing low from August 2017. Below that, the 50% of the move up from November will be eyed at 0.7108. 

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EURJPY Mon 23 Apr

EURJPY moves above 200 and 100 hour MA. Can it stay above?

Up and down day but trying to make a run The EURJPY spiked above the 200 and 100 hour MA. Kuroda comments have helped to weaken the JPY. The USDJPY has been helped by some decent data today.

GBPUSD Mon 23 Apr

GBPUSD trades to session lows. Stays below daily trend line today.

High today stalls at underside of broken trend line The GBPUSD is trading at a new session low at the 1.3937. That is the lowest level since March 19th. The April 5th low at 1.39648 was breached today too.  

SP Mon 23 Apr

US stocks open with modest gains, but giving them up.

Small rebound at the start of a big earnings week This week will have a ton of earnings releases including Amazon, Facebook, Google (today),and Microsoft - just to name a few. The major indices opened higher but is retracing back toward unchanged levels as I type. 

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USDJPY Mon 23 Apr

USDJPY trades to the 2 month high. Stepping higher.

Took out the February 21 high. Highest level since February 13th.  Double top today may make topside sticky.... The USDJPY broke above the February 21 high price at 107.895. The high last week reached 107.851. The break today, has opening up the upside, and we have seen more momentum. The pair has moved to a high of 108.28 so far. We trade right near that high as the US stock market gets going with  some modest gains.

EURUSD Mon 23 Apr

What's key for the EURUSD? The pair looks to extend the month's range/test 100 day MA

The range for the month is a low 200 pips, but lots of support below.   The EURUSD has moved to a low of 1.22224 today. The low for the month comes in at 1.22139. 

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