News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/RfUWJdNjzk
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/EzdjTZEbx2
  • The Dow Jones, S&P 500 and AUD/USD could be at risk of extending losses as retail investors increase upside exposure. What are key technical levels to watch for? Find out from @ddubrovskyFX here:https://t.co/ivQmFUTGdU https://t.co/KuIoM7g9E3
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/38gTDn8ejP https://t.co/FBT1eSZdjF
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/LRL1iD3JDt
  • Even though the Australian Dollar lost some ground this week, support levels held. Bearish developments are brewing in $AUDUSD and $AUDJPY but remain unconfirmed. What else does #AUD face ahead technically? - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/10/24/Australian-Dollar-Technical-Forecast-AUDUSD-AUDJPY-EURAUD-GBPAUD.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/0gHyXW1vHh
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/LjEjTexrCg https://t.co/9qcanKW0uT
  • Third wave? We haven’t beaten the first wave. Until the virus is under control, the US economy won’t be able to properly heal, plain & simple. The lack of a competent response saps courage. Defeat the virus, then get people back to work. In that order. https://t.co/8R8IyTZejM
  • The British Pound may fall if EU and UK negotiators fail to reach a consensus as the December 31 deadline nears. The third presidential debate is on deck, how might markets react? Find out from @ZabelinDimitri here:https://t.co/kDSYzBDA3t https://t.co/80xL2Hyat7
  • The #Fed b/s hit a record high USD ~7.18T this week! Been awhile since I last did an update so here it is! I smoothened out analysis by using 4W moving averages You can see how into summer #SP500 growth 👇 as the b/s 👇 Since then it flipped until recent fiscal talk jitters https://t.co/4AESBo99dl
Dow Jones, S&P 500 Technical Analysis: Sellers Struggle to Lead the Price

Dow Jones, S&P 500 Technical Analysis: Sellers Struggle to Lead the Price

2019-08-13 14:35:00
Mahmoud Alkudsi, Analyst
Share:

S&P 500, Dow Jones Outlook

  • Dow Jones, S&P500 charts and analysis

Have you seen our newest trading guides for USD, EUR and Gold ? Download for free our latest forecasts

Dow Jones - S&P500 – Market’s Indecision

On August 5, S&P 500 declined and printed 2,777- its lowest level in seven months. However, the index recovered during the week the big majority of its losses then closed the weekly candlestick with a long legged Doji pattern, signaling indecision about the price direction. Similarly, the Dow closed with the same Doji pattern.

Alongside this, the Relative Strength Index (RSI) remained flat around 40 on the Dow and the S&P 500 reflecting the buyer’s lack of momentum to push the price higher.

Just getting started? See our Beginners’ Guide for FX traders

Dow Jones PRICE Daily CHART (Oct 25, 2017 – AUg 13, 2019) Zoomed OUT

Dow Jones, S&P 500 Technical Analysis: Sellers Struggle to Lead the Price

Dow Jones PRICE Daily CHART (April 20 – Aug 13, 2019) Zoomed IN

Dow Jones, S&P 500 Technical Analysis: Sellers Struggle to Lead the Price

Looking at the daily chart, we notice yesterday the Dow pressed to the lower trading zone 25,700 – 25,870. However, the index failed to close below the high end.

Today, the index dropped to the aforementioned trading zone. Hence, a close below the low end could send the price towards 25,440. Although, the weekly support levels underlined on the chart (zoomed in) need to be kept in focus.

Further close below 25,440 could lead the price towards 25,215. The weekly support levels underscored on the chart would be worth monitoring.

It’s worth noting the divergence between the current downtrend and the volume. This reflects an aggressive new short selling and may increase the odds that the downtrend may continue.

On the other hand, any failure to close below the low end of the zone could push the price to the high end. See the chart to know more about the higher trading zone/s with the weekly resistance levels buyers would face in a further bullish scenario.

Having trouble with your trading strategy? Here’s the #1 Mistake That Traders Make

S&P500 PRICE CHART (DEC 20, 2018 – Aug 13, 2019) Zoomed out

Dow Jones, S&P 500 Technical Analysis: Sellers Struggle to Lead the Price

S&P500 PRICE Daily CHART (May 10 – AUG 13, 2019) Zoomed IN

Dow Jones, S&P 500 Technical Analysis: Sellers Struggle to Lead the Price

Looking at the daily chart, we notice yesterday the S&P 500 tumbled to the lower trading zone 2,862 – 2,912. Currently, the index eyes a test of the low end of this zone.

Thus, a close below the low end could send the price towards 2,791. Although, the weekly support levels marked on the chart (zoomed in) should be monitored closely. See the chart to know more about the lower trading zone with the weekly support sellers would encounter in a further bearish move.

On the flip-side, if the price fails to close below the low end of the zone, this could push the index for a test of the high end. Further close above the high end may see the index even higher towards 2,965. Nonetheless, the weekly resistance levels underlined on the chart should be considered.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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

DISCLOSURES