Technical Analysis

US stock indices give up gains. End in the red in up and down session.

Little changed on the week In an up and down day, the major indices are ending the session in the red, with modest (near unchanged) levels. The Dow and S&P had first 2 day losing streak in July but in reality today was hardly a down day (although it did give up earlier gains).

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WTI-CRUDE-OIL Fri 20 Jul

WTI crude oil settles at $70.46, up $1.00

The September contract becomes the front contract next week The WTI crude oil futures are settling the day at $70.46, up $1.00 on the day and 1.44%. The August contract is now settled. The September contract will be the official front contract on Monday.  

USDJPY Fri 20 Jul

USDCAD gets a better data and weaker USD shove lower

USDCAD cracks lower The USDCAD has the combination of better data (CPI and retail sales) and a weaker dollar on the back of Trump and Bullard comments.  

EURUSD Fri 20 Jul

EURUSD takes off. Technicals, Trump and Bullard push the dollar lower.

Break technical levels and run. Fed's Bullard is dovish and Pres. Trump doubles up on the things he said yesterday including questioning the Fed's raising rates and a stronger dollar (weaker foreign currencies - read the bottom one first)   ForexLive

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USDJPY Fri 20 Jul

USDJPY moving lower on dovish Bullard comments

Moves away from 200 hour MA The USDJPY is dipping after the more dovish comments from Fed's Bullard (Fed should put off hikes to avoid yield curve inversion).  

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USDCAD Fri 20 Jul

USD/CAD touches session lows as oil extends recovery

USD/CAD touches a low of 1.3238 on the day ForexLive Oil is trading at the highs for the day now with WTI crude up 1.43% to $70.45 while Brent is up 1.16% to $73.42. That has put a bid on the loonie which is advancing against the dollar to lows of 1.3238 currently.

GBPJPY Fri 20 Jul

GBP/JPY steadies after moving towards key support areas

GBP/JPY staying calm for the moment after a dip at the start of the day ForexLive The lows today tested support from the 9 July low and that helped to stall declines seen in the Asian session earlier. Since then, the pair has been holding steady above the 146.00 level after briefly moving towards a test of the support level mentioned earlier when .

GBPUSD Fri 20 Jul

Cable closes back in on a test of the 1.3000 handle

GBP/USD falls back towards the figure level ForexLive The upside overnight saw the highs stalled by the 28 June support-turned-resistance level near 1.3350 with the 23.6 retracement level @ 1.3031 providing additional resistance in deterring further upside moves today. Cable is now tracking lower as a result and is moving back towards a test of the 1.3000 handle.

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EURUSD Fri 20 Jul

EUR/USD moves towards test of key near-term resistance levels

Price action sits between the "goal posts" now ForexLive Buyers are looking to creep back into the picture as price has now moved above the 100-hour MA (red line) @ 1.1665 but there is still work to be done with key near-term resistance levels sitting nearby.

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AUDJPY Fri 20 Jul

Chart in focus: AUD/JPY. Risk aversion and China trade retaliation

AUD/JPY Well, it's been a wild ride since President Trump talked the dollar down last night. Overnight the Bank of China weakened the yuan by the largest single day devaluation in a year. The benefit of a weaker yuan for China is it forms a way of hitting back at the US imposition of tax on imported Chinese goods. The trade war is still in the background and risk off sentiment entered the market. Overnight the Nikkei fell , and is currently at -0.32% with the SSE and the SHI both recovering now and standing at +1.68 and 0.48% respectively.

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USD Fri 20 Jul

Dollar on the back foot ahead of European trading

The greenback slips a little across the board ForexLive It's been a tough last two sessions for the greenback, particularly after Trump's comments yesterday. The dollar index reached year's highs prior to US trading but failed to hold any sustained break above and it's been a quick trip lower - accelerated by Trump.

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SP Thu 19 Jul

Dow's five day winning streak comes to an end

All major indices move lower in trading today The Dow was up for 5 straight day's before today.  That string was broken with a decline. The Nasdaq and the S&P were also lower in trading today:

NZDUSD Thu 19 Jul

NZDUSD retraces 50% of the days tumble, but stalls. Sellers back in.

Rally helped by Trump of course The NZDUSD has and continues to be the dog of the day.  However, the Trump comment pushed the pair up to the 50% retracement of the day's ranges at 0.6759 (the high reached 0.6761).  

CRUDE-OIL Thu 19 Jul

Crude oil futures settles at $69.46, up $0.70 or 1.02%

The contract will shift to the September contract tomorrow The crude oil futures are settling at $69.46 today, up $0.70 or 1.02%. That high reached $70.17. The low was down at $67.80.

GOLD Thu 19 Jul

Trump stopped golds run lower. Remember the 200 week MA at $1234

High reaches $1229.25  Pres Trump was also able to stop golds decline.  Gold has been moving lower on the back of a stronger dollar. With the dollar selling off, the price of gold has shot up too.

EURUSD Thu 19 Jul

...and the EURUSD runs higher too. Trades back to the hour MA levels

Rises to between the 100 and 200 hour MA The EURUSD has run higher too after the Pres.Trump comments.   It is not surprising that Pres. Trump wants everything. That includes lower rates and the dollar.  

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USDJPY Thu 19 Jul

USDJPY moves lower on the back of Trump comments on dollar/rates

Cracks below 100 hour MA, trend line The USDJPY has moved lower after the comments from Pres Trump saying he does not like the dollar going up, nor does he like the Fed hiking rates.  

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STOCKS Thu 19 Jul

US stocks start to wander back lower.

Nasdaq down -0.41%. Dow 5 day up streak in jeopardy The major US stock indices are starting to head back lower.  Amazon is trading down -0.92%.  Microsoft is down -0.57% before earnings after the close. 

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USDCAD Thu 19 Jul

Ups and downs continue with the USDCAD today

Fall from yesterday is fully reversed into a topside trend line The USDCAD has moved sharply higher in trading today. The move reversed the sharp fall yesterday (and a little more), but stalled against a topside trend line at 1.3268.  Let's face it, the price action is a bit skittish.  Sharp move higher. Sharp move lower. Sharp more higher again.  

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