Currency and Stock Index Spread Betting Analysis Looking at Currencies, USD/JPY, S&P 500 for 02 August 2012

02 Aug 2012 Currency and Stock Index Spread Betting Analysis Looking at Currencies, USD/JPY, S&P 500

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 - 2 August 2012

Indices Technical Analysis

Dow Jones Index Technical Analysis

The Dow Jones futures market closed lower due to profit taking on Wednesday as it consolidated some of the rally off June's low. Today's low-range close sets the stage for a steady-to-lower opening on Thursday. If the Dow renews the aforementioned rally, the 87% retracement level of the May-June decline crossing it the next upside target. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted.

S&P 500 Index Technical Analysis

The S&P 500 futures market closed lower due to profit taking on Wednesday as it consolidated some of the rally off June's low. The low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it renews the aforementioned rally, May's high crossing is the next upside target.

Nasdaq Index Technical Analysis

The Nasdaq futures market closed lower on Wednesday and the low-range close sets the stage for a steady-to-lower opening when Thursday's session begins trading. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it renews the rally off last Wednesday's low, the reaction high crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted.

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 EUR/USD closed lower on Wednesday as it extends the trading range of the past three days. The low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it renews last week's rally, the reaction high crossing is the next upside target. If it renews this year's decline, monthly support crossing is the next downside target.

Dollar / Yen Technical Analysis

The USD/JPY closed higher on Wednesday and the high-range close sets the stage for a steady-to-higher opening when Thursday's session begins trading. Stochastics and the RSI are turning neutral-to-bullish hinting that a short-term bottom might be in or is near. Closes above the 20 day moving average crossing would confirm that a short-term bottom has been posted. If it extends this month's decline, June's low crossing is the next downside target.

Sterling / Dollar Technical Analysis

The GBP/USD closed lower on Wednesday and below the 20 day moving average crossing confirming that a short-term top has been posted. The low-range close sets the stage for a steady-to-lower opening when Thursday's session begins trading. Stochastics and the RSI are turning neutral signalling that a short-term top might be in or is near.

Dollar / Swiss Franc Technical Analysis

The USD/CHF closed higher on Wednesday and the high-range close sets the stage for a steady-to-higher opening when Thursday's session begins trading. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it renews last week's decline, the reaction low crossing is the next downside target. If it renews this year's rally, monthly resistance crossing is the next upside target.

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.

The contents of this report are for information purposes only. It is not intended as a recommendation to trade. Neither CleanFinancial.com nor PipTrade accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.

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'02 Aug 2012 Currency and Stock Index Spread Betting Analysis Looking at Currencies, USD/JPY, S&P 500' edited by PipTrade, updated 02-Aug-12

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