S&P and Dow close at record levels again (10-Apr-2021 at 01:14:39 am)
Nasdaq 1.9% from the all time high The major indices also closed higher for the week with the NASDAQ index leading the charge at up 3.12%. The final numbers are showing:
CFTC Commitments of Traders: EUR longs continue to get covered. JPY shorts remain steady (10-Apr-2021 at 12:36:58 am)
Weekly forex futures positioning data for the CFTC for the week ending March 30, 2021
USDCHF ran lower this week and made bearish breaks. Can the sellers keep control. (09-Apr-2021 at 09:33:44 pm)
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 MA (green
AUDUSD stuck in the mud... (09-Apr-2021 at 08:56:13 pm)
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.
Oil nears the moment of truth (09-Apr-2021 at 08:29:46 pm)
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 been
USDJPY tries to extend above 100 hour MA, but fails.... (09-Apr-2021 at 07:57:16 pm)
Old swing area tested The USDJPY moved above the 100 hour MA with help from the PPI and an overall bullish run higher after testing 109.00 yesterday along with a swing area at 108.95 to 109.045 (at the week's lows).
GBPUSD snaps back up toward the chop/swing area (09-Apr-2021 at 07:12:03 pm)
GBPUSD dips below 100 day MA, but bounces back higher The GBPUSD fell below its 100 day MA at 1.3677 (using bid side of the market) earlier today, but did stall right at the March 25 low at 1.36699. The low for the day reached 1.36692 and bounced back higher.
US stocks open mixed with Nasdaq lagging (09-Apr-2021 at 06:35:14 pm)
Dow higher. S&P trades above and below unchanged The US stocks are opening up mixed. The Dow is up. The S&P is trading above and below unchanged. The Nasdaq is lower.
Gold rejects the top of the range in an ugly turn (09-Apr-2021 at 06:24:27 pm)
Effort to confirm a double top fails I about gold yesterday, highlighting the potential for a break above $1755 and confirmation of a double bottom but also the risk that it could fail.
The EURUSD has moved lower to test swing support/100 hour MA (09-Apr-2021 at 06:22:50 pm)
The pair has moved back below the 200 day MA The EURUSD has traded to a new low for the day, and in the process has broken back below the 200 day MA at 1.1886 area, and moved toward the low swing area seen over the last few days between 1.1861 and 1.18677. The 100 hour
USDCAD falls on the better jobs but holds retracement level (09-Apr-2021 at 05:55:09 pm)
Below the 100/200 hour MAs and above the 38.2% and swing area The events took the price back toward the 100 and 200 hour moving averages. They are at 1.2573 and 1.25768. The high price on the balance has reached 1.25625 – still comfortably below those moving average levels. It would take a move back above the
The NZD is the strongest and the JPY is the weakest as NA traders enter for the day (09-Apr-2021 at 05:19:19 pm)
The USD is mostly higher after declining yesterday As North American traders enter for the day some of the trends from yesterday have reversed. The NZD and USD are heading into the NA session as the strongest of the major currencies. They are both close together for that distinction today. Recall from yesterday, the USD was
Gold bounce stalls at short-term resistance, what's next? (09-Apr-2021 at 01:45:29 pm)
Double-bottom or double-top for gold? Gold has managed to pull itself higher in the past week or so, rising after testing the early March lows near $1,676 to push back to $1,750 levels yesterday.
Dollar gains kept in-check so far on the session (09-Apr-2021 at 01:08:54 pm)
Bend but don't break Higher Treasury yields is the key story so far in European morning trade, with 10-year yields now up 4.6 bps to 1.666%. That in turn is keeping the dollar more bid.
AUD/USD falls to the lows for the week as the choppy price action continues (09-Apr-2021 at 12:00:45 pm)
AUD/USD eases back below 0.7600 as the dollar firms It is a lively start to European morning trade as slightly higher yields is underpinning the dollar across the board, and is pushing AUD/USD to the lows for the week now.
Cable falls to fresh two-week lows, faces test of key technical support levels (09-Apr-2021 at 11:51:53 am)
The pound drops quickly from 1.3730 to near 1.3670 to start the session A firmer dollar from is one reason to go with so far today but the also isn't helping with pound sentiment this week, as cable now falls to its lowest level since 25 March.
EUR/GBP looks to extend upside push towards 0.8700 (09-Apr-2021 at 11:41:50 am)
The corrective move in the pair continues to play out The pair continues to "play by the book" on the technical breakout following the jolt higher on Tuesday, as it climbs to a high of 0.8686 currently.
EUR/USD eases back below 1.1900 as dollar firms ahead of European trading (09-Apr-2021 at 10:56:19 am)
EUR/USD falls to a low of 1.1893 on the day US futures have also pared its slight advance earlier with Nasdaq futures turning negative after holding gains of around 0.3% at the end of Asia Pacific trading.
Major indices close higher. New record for the S&P. (09-Apr-2021 at 01:18:13 am)
Major indices close near highs for the day A look at the final numbers are showing: Yields were down again today which helped the Nasdaq type stocks. The small cap stocks also closed higher on the day after sharp declines yesterday.
USDCAD dips below the 100/200 hour MA. Near the middle of the value area. (09-Apr-2021 at 12:06:47 am)
Most of the price action in the USDCAD between 1.25387 to 1.26282 The USDCAD has dipped back below the 100/200 hour MAs at 1.25784 and 1.25725. That is tilting the bias more to the downside technically.
US crude oil futures settle at $59.60 (08-Apr-2021 at 11:34:11 pm)
US crude oil futures down $0.17 or -0.28% Looking at the hourly chart above, the price highs found willing sellers against its 100 hour moving average currently at $59.67. There were a few tests of the level, but sellers leaned against the resistance level.
USDCHF shows no signs of bottoming (08-Apr-2021 at 09:55:52 pm)
Breaks below the 38.2% at 0.9242 The USDCHF is also breaking to a new low, and shows no signs of bottoming. the 38.2% retracement at 0.92423 was a potential bottom, but would have required getting back above its 200 bar moving average on the 4-hour chart at 0.92717. The highest the price got to was 0.92575 on the correction off that
EURUSD trades to a new session high. Breaks. (08-Apr-2021 at 09:38:52 pm)
Move back above the 200 day MA helped today In an earlier post at the start of the NY session, I commented on the non-trend nature of the EURUSD over the last two trading days. The pair has been in a 55 pip trading range over that period. The low swing area at 1.1861 to 1.18677
European shares end the session mostly higher (08-Apr-2021 at 08:50:37 pm)
Italy's FTSE MIB anexception The provisional closes are showing: In other markets as European/London traders look to exit: In the European debt market, the benchmark 10 year yields are also lower but not as much as the US counterpart.
USDCHF tests 38.2% retracement of move up from Feb swing low (08-Apr-2021 at 08:02:19 pm)
This week saw the 100 and 200 MA on 4-hour chart broken The USDCHF trended higher from the February 16 low. Looking at the 4 hour chart below, the pair was up 6 of the 7 weeks to the high last week at 0.9472.
Bitcoin gets a weekend bid again, climbs above $60,000 (10-Apr-2021 at 06:27:47 pm)
Bitcoin up 3% today I last month about bitcoin's habit of rallying on Saturday's and today that was the case again. It's up 3.1% to $60,156 today and touched as high as $61,218.
China is testing its digital yuan - may come with a use-by date (06-Apr-2021 at 06:05:08 am)
This via the Wall Street Journal on "China Creates its Own Digital Currency, a First for Major Economy" China's PBOC will issue the new electronic money
CME to launch bitcoin micro futures (30-Mar-2021 at 05:55:43 pm)
Contracts will be one-tenth of a bitcoin On May 3, the CME Group will launch bitcoin micro futures. They will be worth one-tenth of a bitcoin. "Since the launch of our Bitcoin futures contract in 2017, we have seen steady, ongoing growth of liquidity and market participation in our crypto derivatives, especially among institutional traders," said Tim
PayPal to announce crypto checkout service (30-Mar-2021 at 03:03:49 pm)
Bitcoin climbs to $59,000 on the headlines PayPal is to reveal that customers who hold Bitcoin, Ether, Bitcoin cash, and Litecoin in PayPal digital wallets will be able to convert their holdings into fiat currencies at checkouts in order to make purchases online. More from Reuters .
Bitcoin jumps as Visa is reportedly said to allow payment settlements using cryptocurrency (29-Mar-2021 at 01:51:16 pm)
Reuters reports on the matter Visa is said that on Monday, it will allow the use of cryptocurrency USD Coin to settle transactions on its payment network. The report headline may be a bit of a stretch since this actually only covers USDC.
The Bank of Japan has created a committee to facilitate creating of a central bank digital currency (26-Mar-2021 at 08:25:47 am)
The Bank of Japan committee will consist of BOJ, Ministry of Finance and Financial Services Agency executives, as well as officials from financial lobbies The BOJ has been taking small steps on this path for a long time, this is another.
Japanese online retailer to incorporate cryptocurrency payments into its app (26-Mar-2021 at 03:08:09 am)
Rakuten is a Japanese electronic commerce and online retailing company Japanese media (NIkkei) with the report. BTC update:
Fed’s Evans says cryptocurrencies are too volatile to be a store of value (25-Mar-2021 at 04:47:32 am)
Chicago Fed President Evans speaking on his outlook for the economy ... straying off topic. A very senior central banker dissing Bitcoin et al. You know what to do :-)
Bitcoin extending its losses, under $52K (25-Mar-2021 at 03:25:44 am)
During US time BTC traded up above $57K on Elon Musk announcing Tesla will accept bitcoin. Its since slumped, and is extending the sell off now. BTC bulls will be loading up again soon enough.
The Elon Musk bounce in bitcoin evaporates (25-Mar-2021 at 01:39:33 am)
Bitcoin at the lows of the day Bitcoin is down 2% at $53,335 after rising as high as $57,209 on Elon Musk announcing Tesla will accept bitcoin. That's not exactly a great reason to buy, so easy-come, easy-go.
Bitcoin gives up most of gains and moves back toward unchanged (25-Mar-2021 at 01:03:18 am)
Up about $200 after being up over $2800 The price of bitcoin was up about $2800 at the high today at $57209. However, most of those gains have whittled away. The digital currency is only up about $200 at the moment.
Bitcoin gets a little pop higher as Elon Musk endorses buying a Tesla with the cryptocurrency (24-Mar-2021 at 12:21:08 pm)
Bitcoin jumps up from $54,700 to $55,500 on Musk's tweets That said, the slightly jump is hardly noticeable given the volatility surrounding Bitcoin itself when you look at how price action has been playing out recently.
$806m Bitcoin transfer registered ... institutional flow? (24-Mar-2021 at 04:00:31 am)
Noting this item on financial sites (, there are others also) here's a link BTC update:
Here's a BTC opinion - Bitcoin could surge to $300,000 then drop 90% (23-Mar-2021 at 04:00:41 am)
Comments from Bobby Lee, co-founder and former CEO of crypto exchange BTCC to CNBC Monday afternoon US time. In Brief ) (link here for the full thing
Bitcoin with a quick drop under 55K (23-Mar-2021 at 02:11:03 am)
BTC has been heavy the past hour or so, and its dropped under USD55K as I post Dip buying opportunity for the crypt bulls!
It's late on Friday: Does that mean it's time to buy bitcoin? (20-Mar-2021 at 01:29:41 am)
Stimulus checks and momentum I about weekend effects in the price of bitcoin. wrote last weekend Reader Michael Goodwell was kind enough to break down recent returns by the day of the week.
Bitcoin trades up and trades down this week. Trades marginally higher with a tilt in the favor of the buyers (20-Mar-2021 at 12:08:58 am)
Closed last Friday at $57222. Bitcoin trades 24 hours a day, 7 days a week. If you go back to last Friday, the price closed at $57,222. The high price reached $61,788.45 on Sunday. That was the all time record. The low extended to $53,221 on Tuesday. With the price currently at $58,821.43, the price is higher by $1599 or
Bitcoin runs back lower after briefly trading above $60K (19-Mar-2021 at 12:34:50 am)
Trades back toward 200/100 hour MA The price of Bitcoin made it just above the $60K level to $60,080, but has since rotated back lower and trades at $57846, up just $83 on the day.
Bitcoin pushes up toward $60K again (18-Mar-2021 at 09:30:10 pm)
New highs for the day The price of Bitcoin is pushing back toward the $60,000 level. The high just reached $59,870.66. Looking at the hourly chart above, the digital currency moved back above the 200 and 100 hour moving averages toward the end of day yesterday. Then corrected lower toward the 100 and 200 hour moving averages today. Those moving averages come
Bitcoin is getting flushed, under US$54K (16-Mar-2021 at 06:11:31 am)
BTC is adding to its losses so far this week with a tumble under 54K BTC had a good weekend, gaining well above $62K but since then its lost ground. The selling kicked up a gear yesterday, and since then, after the news out of India:
Bitcoin corrects to 38.2% retracement. Bounces back above 200 hour MA. (15-Mar-2021 at 08:29:45 pm)
Can the price find support buyers at the 200 hour MA now? The price of bitcoin, is down sharply on the day after reaching a weekend new all time high at $61788.45 (on Coinbase exchange). The price today fell back below the rising 100 hour MA (blue line) and rising trend line from the March 6
Bitcoin extends pullback from record high over the weekend (15-Mar-2021 at 02:45:45 pm)
Bitcoin falls further below $55,000 after pushing to a record high near $62,000 over the weekend As always with most major milestones that Bitcoin tends to hit, the volatility swings that follow can be pretty brutal and we are already seeing a plunge from $60,000 to levels just under $55,000 today as price falls by more
Bitcoin hitting a few bids now on the India potential ban story, under US$59.5K (15-Mar-2021 at 04:55:21 am)
India is considering a ban on cryptos, post is here My post earlier is above, Reuters now have the item up on the web, if you wish. link here for more
India will propose a law banning cryptocurrencies (a senior government official) (15-Mar-2021 at 04:39:58 am)
Reuters with the article, citing a senior Indian government official. India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets
Bitcoin traders draw the high and low battle lines (12-Mar-2021 at 08:59:54 pm)
The battle is on The price of bitcoin passed move higher since the last swing bottom on March 5. The price from the low to the high has moved some $11800 higher or 25.4% (from low to high). The high price today reached $58,113 (on Coinbase). That price got within a few hundred bucks of the all-time high from February 21