Currency and Stock Market Index Trading Technical Analysis Covering USD/JPY, Dollar/Swiss Franc, US Indices
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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.
Supplied and sponsored by PipTrade.
Today’s Technical Analysis:
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Technical Analysis - 5 April 2012
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Indices Technical Analysis
Dow Jones Index Technical Analysis
The Dow Jones futures market closed lower on Wednesday as it extends the trading range of the past two weeks. The low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If the Dow renews this winter's rally, the 2007 high crossing is the next upside target. Closes below the reaction low crossing would confirm that a short-term top has been posted.
S&P 500 Index Technical Analysis
There is no S&P 500 analysis for today.
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 night session begins trading. Stochastics and the RSI are turning neutral-to-bearish hinting that a short-term top might be in or is near. Closes below the 20 day moving average crossing are needed to confirm that short-term top has been posted. If it extends the rally off December's low, weekly resistance crossing is the next upside target.
Forex Technical Analysis
Euro / Dollar Technical Analysis
The EUR/USD closed lower on Wednesday and the low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are turning bearish signalling that sideways-to-lower prices are possible near-term. If it extends today's decline, March's low crossing is the next downside target. If it renews the rally off March's low, February's high crossing is the next upside target.
Dollar / Yen Technical Analysis
The USD/JPY closed lower on Wednesday and the mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. Closes below the reaction high crossing are needed to confirm that a short-term high has been posted. If it renews the rally off February's low, the April 2011 high crossing is the next upside target.
Sterling / Dollar Technical Analysis
The GBP/USD closed lower on Wednesday and the mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI are turning neutral-to-bearish hinting that a short-term top might be in or is near. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted. If it renews the rally off January's low, last October's high crossing is the next upside target.
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 on Thursday. Stochastics and the RSI are turning neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends today's rally, March's high crossing is the next upside target. If it extends the decline off March's high, February's low crossing is the next downside target.
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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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.
Article approved/supplied by PipTrade which is a trading name Henyep Capital Markets (UK) Limited which is authorised and regulated by the Financial Services Authority. Register No: 186171.
'Currency and Stock Market Index Trading Technical Analysis Covering USD/JPY, Dollar/Swiss Franc, US Indices' edited by PipTrade, updated 05-Apr-12
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Technical Analysis Index - an Index of Daily Technical Analysis articles covering Trends, Supports and Resistance Levels for some of the major Forex markets as well as US Stock Market Indices like the Dow, NASDAQ 100 and S&P 500.
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