Implications and Outlook
1. The short-term bullish momentum completed DXY Index Rally $93.265 level, while Key Resistance lays way above at $94.070.
2. The break of the Rally by retesting Mean Resistance $93.100 will undoubtedly bring serious of the short-term bearish implications, having downside target to Mean Support of $92.430 and 91.770 respectively.
3....
NASDAQ COULD BREAK ABOVE 7200.0.
I wouldn't be long on the index as of now, however if you're already long on this trade you could see highs of possibly 7400.0 .
TP: 7200.0/7400.0
How much love these two have?. I have to accept that I expected to see 17.20, It was a crazy dream... (ok, my DXY chart I was using as reference was wrong).
This time I will keep them together and see what kind of relationship there is even on days as important as right now for Mexico. (NAFTA and Presidential Elections).
Best wishes!!
Another rebound off the 200dma, sets the SPX into a range between the 100&200dma, and also between 2 trend lines. CPI data tomorrow will determine whether we break to the upside, or push lower for another retest of that key 200dma support. Also good to note that the ~60 RSI level has not been broken on any bounce off the 200dma.
Alright guys, I think we could reach highs of possibly 13400.0.
Prices have met our first target, I don't think you should liquidate your position as yet. Think of it this way if prices swing in your favour, you've had a successful trade, however if prices break lower than 12970.0 you're technically first in line for a probable short!
(WHICH I'LL BE COVERING, IF...
In a previous post on the DAX I emphasized a very bearish stance regarding the DAX on the mid term. I still stand by that thesis completely . However, in the short term, there is an inverse head and shoulders forming , which would - if the neckline were to be broken - give us around 13.200EUR as a break-out target (probably a bit too high, looking at the left...
DXY Dollar Index Update May 8th
The dollar continues its advance towards the target at 94.20
but in the nearer term it's just approaching the next
resistance lines, closely positioned at 93.32 and 93.42.
It should consolidate the last impulse here, coming back to
test the lower parallel one more time before powering up to
the target at 94.20. If day...
Current consolidation in S&P 500 could shape a triangular pattern ABCDE.
The drop started on 18th of April shouldn't exceed the low of the wave C at the 2553.
The breakout of triangle could be a trigger to enter long.
Some riskier people could buy on the dip to the downside of Triangle but it would be a mere guessing
as the WXY main count could still unfold...
SPX Implications and Outlook
1. Further bullish (dead-cat-bounce) momentum likely to hit Mean Resistance 2909 and perhaps all the way up to Index Rally 2746 level.
2. Price action is continually confirming the value of the intermediate-term Mean Support of 2604.
3. The break of the intermediate-term Mean Resistance of 2670 will undoubtedly bring serious of the...
The Nikkei Index traded nervously on Wednesday in front of the Fed's announcement as well as US Non-farm Payroll but knowing it will be closed for the rest of the week due to Golden Week holidays. A number of the exporters did find a way to edge ahead. However, results were limited. The overall Index trend sprang out heavy all be it sluggish.
The Index remains...
Eurozone experienced more discouraging economic Purchasing Managers Index (PMI) data and a Thirteen month low is undoubtedly hitting at the wrong time. Also, Q1 Gross Domestic Product released below estimates at plus 0.4% compared to previous positive 0.7%.
Having looked at bumper results for Eurozone equities in 2017, it's rumored the majority are cashing-out....
As you may know now, the Federal Reserve eventually left interest rates unchanged and with no move to change its inflation outlook. A reasonable reaction was a resumed US Dollar appreciation a lot more consolidation for equities.
The Dow Jones Index finished the session just off their low levels for the day, slumping 174 points or 0.7% to close at 23,925. The...
Hello Traders,
I hope everybody is doing great.
After I covered the EURUSD in the daily chart, let’s have a look at the equivalent instrument which is the DXY.
From the 2018-02-16 low to the peak of 2018-04-05 you can see clearly that the DXY has moved in a sideways to higher trend (No higher highs or lower lows). So it was just a matter of time when the...
The lack of strength of the US Dollar has been one of the most talking facts during the past year. That weakness carried on into this year; however, over the past couple of weeks, we've noticed a definite turn-around in the Index. The DXY Index is currently at its best showing point ever since the start of 2018, and it looks to enjoy completion Index Rally at...
SPX is still ranging within this big descending triangle and in fact DJI and NDX is having similar pattern as well
Most likely we will see a contraction before a decisive movement to break up or down from the triangle..
Till then we would not be taking any mid term trades and will only do intra-day trades
DXY is testing its resistance t 92.61 (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance) where price could potentially react off and fall to its support at 90.95 (50% & 38.2% Fibonacci retracement, horizontal swing low support). We do have to be cautious of the intermediate support at 91.89 (38.2% Fibonacci retracement,...
