We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bullish
More View more
Real Time News
  • Tomorrow brings both an #ECB rate decision along with the UK election, keeping both $EURUSD and $GBPUSD in the spotlight. Get your technical analysis from @JStanleyFX here: https://t.co/b3z1px72nL https://t.co/oDRWPc2RGk
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Silver: 0.73% Gold: 0.45% Oil - US Crude: -0.71% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/2QUsI7shrJ
  • Update on #Cryptocurrencies #BITCOIN -0.40% #BITCOINCASH +0.06% #ETHEREUM -1.35% #RIPPLE +0.32% #LITECOIN -0.83%
  • Gold is moving higher ahead of this afternoon's FOMC meeting $XAUUSD https://t.co/mH1Ve8dd9F
  • genuinely excited for this https://t.co/FNZyu7QtGp
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.83% 🇳🇿NZD: 0.40% 🇨🇦CAD: 0.26% 🇯🇵JPY: 0.06% 🇪🇺EUR: 0.01% 🇨🇭CHF: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tQBbKmNDlP
  • RT @biancoresearch: The Fed is not expected to move rates. Powell is likely to repeat the economy is in a “good place” and get tons of ques…
  • Join @DailyFX and @DailyFXTeam for an all-night UK election market coverage with our very own market expert @JMcQueenFX live-tweeting results and market moves starting today. Need a quick recap before you dive into monitoring the market? Get it here: https://t.co/b3z1px72nL https://t.co/9dyrf0jWe5
  • My equally-weighted Aussie Dollar Index posted its biggest single-day rally since Aug 13th and the fourth biggest upswell this year https://t.co/BYZHFz7hOa
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: US 500: 0.05% Germany 30: -0.12% France 40: -0.14% Wall Street: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/9j7a30v0id
S&P 500, DAX & FTSE: Will Headlines Trump Summer Doldrums?

S&P 500, DAX & FTSE: Will Headlines Trump Summer Doldrums?

2018-08-17 18:59:00
Paul Robinson, Currency Strategist
Share:
S&P500

Talking Points:

  • FOMC minutes and Jackson Hole; S&P 500 trying to hang tough near highs
  • No big data next week; DAX below important long-term trend-line
  • FTSE remains generally choppy, but with a downward tilt

For forecasts, trade ideas, and educational guides, check out the DailyFX Trading Guides.

S&P 500

Next week brings the FOMC minutes and Jackson Hole CB Symposium on Wednesday and Friday respectfully, but it is unclear that these will have any real market-moving effects. It may be worth noting that this is Powell’s first time in Jackson Hole as Chairman of the Fed. Continued threats will come from Trade War headlines along with the Turkey situation.

Recent trade has brought with it some indecision as the market tries to figure out whether it can break out to news highs or roll over. If headlines are relatively quiet then look for summer trading conditions to keep the pace somewhat slow. Obvious resistance clocks in at recent highs up to the record peak at 2872, while support lies down around the 2800-line. If we see a breakdown from around current levels through 2800 a head-and-shoulders pattern will come into play, but not until then as it isn’t a developed formation.

S&P 500: Daily

S&P 500, DAX & FTSE: Will Headlines Trump Summer Doldrums?

DAX

Next week doesn’t hold any big data releases. Risk trends could be a factor here, but not sure how much upside we’ll see even if risk shows strength given how weak the DAX has been as of late. The euro has lost its impact as either helping or hurting the index as the two are now correlated, so looking to that has lost its edge.

The big development for the DAX these days is the break this past week below the February 2016 trend-line. A drop below 12104 will have the index making a lower low from June and towards the neckline of the year+ long head-and-shoulders. The DAX is a go-to right now for those looking to short a major global index.

Check out this guide for 4 ideas on how to Build Confidence in Trading.

DAX: Daily

S&P 500, DAX & FTSE: Will Headlines Trump Summer Doldrums?

FTSE

No big data on the docket for next week. As per usual ongoing ‘Brexit’ headline risk will remain a theme along with perhaps risk trends if they become a dominant factor.

The technical posturing of the FTSE is growing increasingly precarious, with the possibility of not only furthering a lower low from June but also kicking into high gear the macro-topping pattern discussed the other day. As is the case with the DAX, the FTSE is another index which traders may want to keep an eye on from the short-side.

FTSE: Daily

S&P 500, DAX & FTSE: Will Headlines Trump Summer Doldrums?

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at@PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.