Buyers trying to keep control In an earlier post, I spoke of intraday support near the 100/200 bar MA on the 5 minute chart and the 50% retracement level of the day’s trading range: On the downside, the 50% midpoint of the day’s trading range comes in at 1.37602 (see five minute chart below). That
Month: July 2021
200 hour MA swing area and 50% of the move up from June 23 The USDCAD is trading to a new session low and in the process is testing a cluster of support defined by the 200 hour moving average, the 50% retracement of the move up from the June 23 low, and a swing area between
Nasdaq lags and closes marginally higher The major US indices are closing the day higher with the S&P index leading the way. The S&P index is up for the six consecutive day and closes at a record level. New highs 214 versus new lows of 11 Dow closes near session highs Dow up for the third
Forex news for Asia trading on Friday 2 July 2021 USD/JPY popped to its highest, circa 111.65, since March of last year but overall maintianed a very tight range on the session. As I update USD/CHF is ticking a little higher also as ‘safe haven’ FX becomes less and less sought after. Elsewhere it was
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The 100 hour moving average could not be broken on the move lower The USDCAD is lower on the day, and in the process broke back below its 100 day moving average of 1.23884. The price has been trading above and below that moving average over the last two trading days. The move lower extended toward its rising 100 hour
ISM manufacturing PMI for June 2021 Prior 61.2 Prices paid 92.1 versus 88.0 last month New orders 66.0 versus 67.0 last month Employment falls below the 50 level at 49.9. Last month the index came in at 50.9 Production 60.8 versus 58.8 last month. Supplier deliveries 75.1 versus 78.8 last month inventories 51.1 versus 50.8 last
S&P closes at a record high The US stocks are ending the session mixed with the Nasdaq down, and the Dow and S&P higher. The S&P closed at a record high. Today is month end, quarter end and the end of the 1st half of the year. The numbers for each are showing: S&P is
Forex news for Asia trading on Thursday 1 July 2021 Data flow ramped up on the first day of the new month with: a round of PMIs across Asia with Australia, China, Japan, South Korea manufacturing PMIs all registering expansion, The Bank of Japan quarterly Tankan survey report showed much improved sentiment amongst Japanese business,