Currency and Stock Market Indices Daily Spread Trading Analysis: Analysis of USD/JPY, Nasdaq 100, FX
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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 - 24 January 2012
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Indices Technical Analysis
 Dow Jones Index Technical Analysis
The Dow Jones futures market closed lower on Monday and the mid-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near term. If the Dow extends the rally off October's low, last May's high crossing is the next upside target. Closes below the 20day 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 slightly higher on Monday and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near term. If it extends the rally off December's low, the reaction high crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a short-term top has been posted.
 Nasdaq Index Technical Analysis
The Nasdaq futures market closed slightly higher on Monday and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near term. If it extends the rally off December's low, weekly resistance crossing is the next upside target. Closes below the 20day moving average crossing would confirm that short term top has been posted.
Forex Technical Analysis
 Euro / Dollar Technical Analysis
The EUR/USD closed higher on Monday and the high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. If it extends last week's rally, the 38% retracement level of the aforementioned decline crossing is the next upside target. Closes below the 10day moving average crossing would temper the near-term friendly outlook.
 Dollar / Yen Technical Analysis
The USD/JPY closed unchanged on Monday and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI have turned bullish hinting that a short term bottom might be in or is near. Closes above the 20day moving average crossing would confirm that a short-term top has been posted. If it renews the decline off December's high, the reaction low crossing is the next downside target.
 Sterling / Dollar Technical Analysis
The GBP/USD closed higher on Monday and the high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off this month's low, the reaction high crossing is the next upside target. Closes below the 10day moving average crossing at would temper the near-term friendly outlook.
 Dollar / Swiss Franc Technical Analysis
The USD/CHF closed lower on Monday as it extends last week's breakout below the 20day moving average crossing. The low-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. Today's close below the reaction low crossing confirms that a high has been posted. Closes above the 10day moving average crossing would temper the near-term friendly outlook.
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 Indices Daily Spread Trading Analysis: Analysis of USD/JPY, Nasdaq 100, FX' edited by PipTrade, updated 24-Jan-12
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