Stock Index and Forex Daily Financial Spread Betting Technical Analysis Looking at Dow, Dollar/Swiss Franc, Forex
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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 - 19 January 2012
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Indices Technical Analysis
 Dow Jones Index Technical Analysis
The Dow Jones futures market closed higher on Wednesday and the high-range close sets the stage for a steady-to-higher opening on Thursday. 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, 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.
 S&P 500 Index Technical Analysis
The S&P 500 futures market closed higher on Wednesday and the high-range close sets the stage for a steady-to-higher opening on Thursday. 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 87% retracement level of the 2011 decline 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 higher on Wednesday and the high-range close sets the stage for a steady-to-higher opening on Thursday. 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 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 hinting that a low might be in or is near. If it extends the decline off October's high, the 87% retracement level of the 2010-2011 rally on the weekly continuation chart crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted.
 Dollar / Yen Technical Analysis
The USD/JPY closed slightly lower on Wednesday while extending this month's trading range. 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. If it extends the decline off December's high, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing would temper the near-term friendly outlook.
 Sterling / Dollar Technical Analysis
The GBP/USD closed higher due to short covering 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 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 extends the aforementioned decline, weekly support crossing is the next downside target.
 Dollar / Swiss Franc Technical Analysis
The USD/CHF closed lower due to short covering on Wednesday. The low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are bearish signalling that sideways-to-lower prices are possible near-term. Closes below the reaction low crossing are needed to confirm that a high has been posted. If it renews the rally off October's low, weekly resistance crossing is the next upside 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.
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'Stock Index and Forex Daily Financial Spread Betting Technical Analysis Looking at Dow, Dollar/Swiss Franc, Forex' edited by PipTrade, updated 19-Jan-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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