Stock Market Index and Forex Technical Analysis with US Stock Markets, EUR/USD, GBP/USD
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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 - 18 January 2012
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Indices Technical Analysis
 Dow Jones Index Technical Analysis
The Dow Jones futures market closed higher on Tuesday and the low-range close sets the stage for a steady-to-lower opening on Wednesday. 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 lower on Tuesday and the low-range close sets the stage for a steady-to-lower 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 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 Tuesday and the mid-range close sets the stage for a steady 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 December's low, last July's high 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 Tuesday and the mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain neutral-to-bearish signalling that additional weakness is possible near-term. 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 higher on Tuesday. The high-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. Closes above the 20day moving average crossing would temper the near-term friendly outlook. If it extends 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 Tuesday and the low-range close sets the stage for a steady-to-lower opening on Wednesday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, weekly support 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 / Swiss Franc Technical Analysis
The USD/CHF closed on Tuesday. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI have turned 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.
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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 Market Index and Forex Technical Analysis with US Stock Markets, EUR/USD, GBP/USD' edited by PipTrade, updated 18-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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