Archives of “August 26, 2020” day

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AUDUSD moves closer to its 200 week moving average

  
Analysis, Forex

200 week moving average currently at 0.72486

The AUDUSD is trading at new session highs up at 0.72378. That takes the price within about 11 pips of its 200 week moving average at 0.72486. Last week, the price moved above its 200 week moving average for the 1st time since April 2018, but could not sustain momentum. The high price moved to 0.72748 before failing and rotating back lower.
200 week moving average currently at 0.72486_
A move above should solicit more buying interest. A close above the level at the end of the week would be more bullish. Stay below could be indicative of a top/temporary top.
Key test for both the buyers and the sellers.

European Indices end the session higher

  
Analysis, Global Indices

Back into the black after the declines yesterday

The European shares are ending the session higher. The laggard is the UK FTSE 100 which rose by a scant +0.1%. The gains were also varied with the German DAX leading the way at +1.0%. Shares move higher on Monday but gave back some of the gains on Tuesday.

The provisional closes are showing:
  • German DAX rose 1.0%. The low for the day reach -0.39%
  • France’s CAC rose 0.8%. The low for the day reached -0.61%
  • UK’s FTSE 100 rose 0.1%. The low for the day reach -0.74%
  • Spain’s Ibex rose 0.24%. The low for the day reached -0.53%
  • Italy’s FTSE MIB rose 0.24%.  The low for the day reached -0.51%
In other markets as London/European traders look to exit:
  • Spot gold is trading up $16 or 0.82% at $1944. It is trading just off the high price for the day at $1945.98. The low price extended to $1902.89.
  • Spot silver is also higher. It is trading up $0.58 orders 2.2% at $27.12. That is just off the high price of $27.15
  • WTI crude oil futures are higher by $0.08 at $43.43. Hurricane Laura is bearing down on the Louisiana/Texas border. Inventory data showed a larger than expected drawdown but in line with the API data from last night. The high price reached $43.78. The low price has bottomed at $43. The price is above its 200 day moving average at $43.25 today.
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