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
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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Get our analysts’ view on the key fundamentals for indices in Q2. Download now. https://t.co/Etdyanp76f https://t.co/n2wxfyMsJt
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/DWm7cBMUg9 https://t.co/5KaUvfGM4I
  • 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/J0EPMD2Cfi https://t.co/9Bjkh5413e
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/FqAsp91Gia
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/cKOUmtj7Dj
  • 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/Yl9vM7kO6a https://t.co/TnL91f7sl7
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/cDcjl3Ue09
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/KWOX5wSipe
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/cwSWCpKtaj
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/zu5hMovbz6
Technical Outlook for S&P 500, Dow Jones, and Nasdaq 100

Technical Outlook for S&P 500, Dow Jones, and Nasdaq 100

Paul Robinson, Strategist

S&P 500/Dow Jones/Nasdaq 100 Technical Highlights:

  • S&P 500 trading at 200-day, price levels still higher
  • Dow Jones eyes price zone around 25825/677
  • Nasdaq 100 is very near the 200-day MA

Check out the forecasts for Global Stock Indices and other markets on the Trading Guides page.

S&P 500 trading at 200-day, price levels still higher

The S&P 500 is trading just a shade below the 200-day MA, and with it around this widely-watched long-term threshold interesting things can happen. Yesterday’s range was extremely small, so look for that as a potential precursor to expanded volatility the next couple of days.

If the 200-day doesn’t put some type of dent in the ascent off the December low, then look for the 2800/16 zone to be a very difficult one to get through. I discuss this regularly in webinars, but there are levels (support/resistance) and then there is price action those levels. So far we not seen anything to suggest the rise is over or at least ready for the market to reverse gears. For now, have to respect bullish momentum until it gets turned on its head.

With global stock market volatility high, see where our analysts see stocks headed in the Q1 Global Equities Forecast.

S&P 500 Daily Chart (200-day, price levels higher)

S&P 500 daily chart, 200-day, price levels higher

Dow Jones eyes price zone around 25825/677

The Dow hesitated at the 200-day but has since risen a few hundred points above. This leaves the index between solid support and below the next levels of resistance in the vicinity of 25825/677. Whether the market can climb to that area without first consolidating or retreating is yet to be seen, but for now the felling is the market is too strong to short and too high to buy.

Dow Daily Chart (Price zone ahead)

Dow Jones daily chart, price zones ahead

Nasdaq 100 is very near the 200-day MA

Like the S&P 500, the Nasdaq 100 is also trading right near its 200-day MA. If it can trade through it won’t be far, though, before price resistance arises from 7100 up to 7200. A pullback looks likely to be near but we’ll need, as discussed with regard to the S&P, to see price action suggest the rise is due for a break or worse.

Nasdaq 100 Daily Chart (200-day)

Nasdaq 100 daily chart, 200-day

To learn more about U.S. indices, check out “The Difference between Dow, Nasdaq, and S&P 500: Major Facts & Opportunities.” You can join me every Wednesday at 10 GMT for live analysis on equity indices and commodities, and for the remaining roster of live events, check out the webinar calendar.

Tools for Forex & CFD Traders

Whether you are a beginning or experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---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