Currency and Stock Market Index Daily Trading Market Analysis: Analysis of USD/JPY, Nasdaq, FX for 07 December 2011

07 Dec 2011 Currency and Stock Market Index Daily Trading Market Analysis: Analysis of USD/JPY, Nasdaq, FX

Indices Technical Analysis
	Dow Jones Index
	S&P 500 Index
	Nasdaq Index
Forex Technical Analysis
	Euro / Dollar
	Dollar / Yen
	Sterling / Dollar
	Dollar / Swiss Franc
Commodities Technical Analysis
	Commodities Analysis

Daily Technical Analysis report discussing Support and Resistance Levels and Indicators such as Stochastics and the RSI for major FX markets, the Dow Jones, S&P 500 and NASDAQ.

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Today’s Technical Analysis:

Technical Analysis - 7 December 2011

Indices Technical Analysis

Dow Jones Index Technical Analysis

Dow Jones Futures closed higher on Tuesday as it extends the rally off November's low. The high range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. If the Dow extends the aforementioned rally, October's high crossing is the next upside target. Closes below the 10day moving average crossing would temper the near-term friendly outlook.

S&P 500 Index Technical Analysis

S&P 500 Futures closed steady on Tuesday as it consolidated some of the rally off November's low. The low range close sets the stage for a steady-to-lower opening when Wednesday's night session begins trading. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off November's low, the reaction high crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a short-term top has been posted.

Nasdaq Index Technical Analysis

NASDAQ Futures posted an inside day with a lower close on Tuesday as it consolidated some of the rally off November's low. The low range close sets the stage for a steady-to-lower opening when Wednesday's night session begins trading. Stochastics and the RSI remains bullish signalling that sideways-to-higher prices are possible near-term. If it extends last week's rally, the reaction high crossing is the next upside target. Closes below the 10day moving average crossing would temper the near-term friendly outlook.

For another view also see Indices Trading News
For more information on speculating on indices see Indices Spread Trading

Forex Technical Analysis

Euro / Dollar Technical Analysis

The EURO closed higher on Tuesday and the high range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI are bullish hinting that a low might be in or is near. Closes above last Friday's high crossing are needed to confirm that a short-term low has been posted. If it renews the decline off October's high, October's low crossing is the next downside target.

Dollar / Yen Technical Analysis

The YEN closed higher due to short covering on Tuesday and the high range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off November's low, October's high crossing is the next upside target. Close below the 20day moving average crossing would temper the near-term bullish outlook.

Sterling / Dollar Technical Analysis

STERLING closed lower on Tuesday but remains above the 10day moving average crossing. The midrange close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are neutral-to-bullish hinting that a low might be in or is near. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted. If it renews the decline off October's high, the reaction low crossing is the next downside target.

Dollar / Swiss Franc Technical Analysis

The SWISS FRANC closed higher on Tuesday and the midrange close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI are turning neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it renews the rally off October's low, weekly support crossing is the next upside target. Closes below last week's low crossing are needed to confirm that a high has been posted.

For another view also see Forex Trading News
For more information on speculating on forex see Forex Spread Trading

Spread Trading and CFDs carry a high level of risk and you may lose more than your initial investment. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.

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'07 Dec 2011 Currency and Stock Market Index Daily Trading Market Analysis: Analysis of USD/JPY, Nasdaq, FX' edited by PipTrade, updated 07-Dec-11

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