Moreover, they want to lead the charge to invoke change on a national level. There could be some slowing of the trend move as a result of the failure. The new all time high reached ForexLive ForexLive is the trusted source for real-time forex news and analysis.
Cluster of resistance ahead
What it all comes down to is the widening. The divergence between the monetary policies of the hawkish U. The widely expected Fed rate hike last week also widened the spread between U. Government bond yields and Japanese Government bond. The catalyst behind the bullish price action is the divergence in monetary policies between the hawkish U. Federal Reserve and the dovish Bank of Japan. The upside momentum was fueled last week. The Forex pair surged to The catalysts behind the rally were rising.
The US dollar has rallied rather significantly against the Japanese yen during the day on Friday, as we continue to see a lot of bullish pressure. The Forex pair was driven higher earlier in the session by the widening of the spread between U. Government bond yields and Japanese Government bond yields.
This move was being supported by the divergence between the monetary policies of the. The pair has now breached the crucial support level of 1. Also, it is facing trouble from strength in USD. At this point, I. The price action helped form a potentially bearish technical chart pattern called. The range is limited and volume is light as investors prepare for the U. Overview Technical Forecasts News Chart. Two Major Players in the Financial Arena.
The Nasdaq closed up European shares closed mostly higher at the midpoint of the NA session. Here is the breakdown: France's Cac rose 0.
In the 10 year note market: Near the close for the day, the 10 year yield is now up The 30 year yield is up Strong economic data and now some hawkish comments from Fed's Powell is the catalyst. Below is a snapshot of the changes and ranges. Note the yield curve also steepened by 5. That is a big change. In the forex market, the US dollar is ending the day and the NA session sharply higher. Fundamentally, there are a number of catalysts:.
That is a big move. Moreover, they want to lead the charge to invoke change on a national level. Think the increase in costs for small businesses and its impact on prices. Markit PMI services came in at That was the best reading since New orders rose to Yikes that was good. Powell said at the end of the day that the Fed may raise rates past neutral. That has pushed the USD even higher in the last hour of the day Below is a snapshot of the strongest and the weakest.
The biggest dollar gains are vs. The dollar is king today. Looking at the 4-hour chart of the EURUSD, the low in the last flush lower at the end of the day stalled at a lower trend line. Looking at the daily chart, the price fell back below a broken trend line and is probing toward the low for the year reached in September at 0. A break below could see more of a scoot lower in the pair. Looking at the hourly chart, the pair fell to a lower trend line, tried to stall the fall, but could not muster much momentum.
The underside of the trend line comes in at 0. Stay below is more bearish. In other markets near the US session close shows: The higher dollar helped to contribute to the lower level In the US stock market today, the major indices closed higher, but well off the highs. USD still gaining welcome to the twilight zone This is the time of scarcest liquidity for the 24 hour forex cycle. If you are after a catalyst, scroll back on forexlive and find the comments from Fed head Powell.
USD still gaining welcome to the twilight zone https: This is the time of scarcest liquidity for the 24 hour forex cycle. Trade ideas thread - Thursday 4 October Good morning, afternoon and evening all.
Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: Trade ideas thread - Thursday 4 October Eamonn Sheridan.
Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:.
Speech by Toby Fiennes - Enriching disclosures: Economic calendar due from Asia today If a catalyst was needed for the next few tics up it would seem Powell is da man:. The high reached The index was hit in the last few hours of trading, turning negative at one point.
However, there was a modest bounce into the close and the index is closing up 2. The hour MA blue line in the chart below comes in at That will be a key level in trading tomorrow. That was off the highs The low extended to He was catapulted into the job at a good time. Inflation at goal, economy positive, unemployment lowest in 20 yrs Eamonn Sheridan. Federal Reserve head Powell speaking , all very rate hike sort of stuff not surprisingly - very happy about where the economy is - unemployment lowest in 20 yrs As I said in the bracket above, nothing surprising from Mr.
The USD is now the strongest currency of the majors. Rates may be causing some of the apprehension. The 10 year yield traded to the highest level since end of June Higher yields may be starting to take it's toll. Does not see high risk that US inflation will pick up precipitously Speaking after talking at community banking conference in St.
Louis The Cleveland Fed president adds:. Does not see high risk that US inflation will pick up precipitously Greg Michalowski. Speaking after talking at community banking conference in St. The high for the day reached That occurred in the first hour of trading and was short of the record high at The last hour has seen a steady erosion lower.
The Nasdaq is up 33 points or 0. The low is at Looking at the daily chart, the pair has reached into the swing highs in the We are currently trading at Seller may look to lean. Still higher on the day, but much of the gains have been erased The Nasdaq is up 33 points or 0. The new all time high reached Crude oil futures not phased by inventory data, settle up 1. The private API showed a build of around K. First ever Presidential alert will set off all cell phones at 2: That loud beeping across America will be the test.
It is just a test. Having said that, he tends to not be so closed mouthed with audiences and reporters. So we will be looking out for any comments later. Bullard is a dove.