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. See our updated Privacy Policy here.

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
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Bullish
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • 🇮🇹 Business Confidence (JUN) Actual: 114.8 Expected: 112 Previous: 110.9 https://www.dailyfx.com/economic-calendar#2021-06-25
  • 🇮🇹 Consumer Confidence (JUN) Actual: 115.1 Expected: 112 Previous: 110.6 https://www.dailyfx.com/economic-calendar#2021-06-25
  • Hang Seng Tech Index Attempts to Break key Resistance - #HSTECH chart https://t.co/zyCoXqgoVz
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.84%, while traders in GBP/JPY are at opposite extremes with 68.93%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/jaai5GlT9Q
  • Heads Up:🇮🇹 Business Confidence (JUN) due at 08:00 GMT (15min) Expected: 112 Previous: 110.2 https://www.dailyfx.com/economic-calendar#2021-06-25
  • Heads Up:🇮🇹 Consumer Confidence (JUN) due at 08:00 GMT (15min) Expected: 112 Previous: 110.6 https://www.dailyfx.com/economic-calendar#2021-06-25
  • Heads Up:🇪🇺 European Council Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-25
  • - Will implement macroprudential measures to fight with inflation if needed
  • Turkish Finance Minister - Turkey to grow more than government forecast in 2021, expecting around 20% growth in Q2 - Central Bank stance on price stability is important
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/txBC7G5EcY
Nasdaq Trades to New Record Highs, S&P 500 Looking to Follow

Nasdaq Trades to New Record Highs, S&P 500 Looking to Follow

Paul Robinson, Strategist

What’s inside:

  • The S&P 500 finds a direction after days of chop
  • The Nasdaq blasts to new highs, S&P 500 new highs likely around the bend
  • Key support and resistance noted, nothing substantial on the US data docket

Yesterday’s FOMC meeting brought a good level of volatility, ending with a skew to the upside as the S&P 500 rallied over 20 handles from prior to the Fed’s release. The S&P had been bottled up in the days leading up to the event, leaving traders without any good directional indications – one day looking like higher, next lower, next higher, etc.

The up-move is seeing some good follow-through thus far today, even taking the S&P above the top-end of resistance we had chalked between 2156 and 2163. Old resistance is now eyed as support on any decline from here. A daily close above this zone is viewed of importance now that we are trading north of it.

The shot higher yesterday pushed the Nasdaq 100 to a new record high, and it now looks as though the S&P 500 will follow suit. We are only about 23 handles or so at this time from achieving a new high, it’s well within reach.

There is minor resistance in the form of an upper parallel in th e mid-2170s, but from there nothing visible until the 2190/94 vicinity.

Support comes in by way of the 2156/63 area discussed, and depending on timing of any decline, the lower parallel rising off the 9/14 low.

Nasdaq Trades to New Record Highs, S&P 500 Looking to Follow

There isn’t anything substantial on the US data docket for today or tomorrow. Next week will bring a couple of key data points with Consumer Confidence on Tuesday and Durable Goods Orders on Wednesday.

Start improving your technical analysis today with one of our free trading guides.

---Written by Paul Robinson, Market Analyst

If you would like to receive articles directly to your inbox, SIGN UP HERE.

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

DISCLOSURES