Stock Market Indices and Currency Spread Betting Technical Analysis Reviewing FX, USD/JPY, USD/CHF
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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 - 20 January 2012
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Indices Technical Analysis
 Dow Jones Index Technical Analysis
The Dow Jones futures market closed higher on Thursday and the high-range close sets the stage for a steady-to-higher opening on Friday. 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 Thursday and the high-range close sets the stage for a steady opening on Friday. 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 higher on Thursday as it extends the rally off October's low. The high-range close sets the stage for a steady-to-higher opening on Friday. 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 Thursday and above the 20day moving average crossing confirming that a short-term low has been posted. The high-range close sets the stage for a steady-to-higher opening on Friday. Stochastics and the RSI are turning bullish signalling that sideways-to-higher prices are possible near-term. If it renews 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.
 Dollar / Yen Technical Analysis
The USD/JPY closed sharply higher on Thursday while extending this month's trading range. The high-range close sets the stage for a steady-to-higher opening on Friday. 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 Thursday as it consolidated some of the decline off October's high. The high-range close sets the stage for a steady-to-higher opening on Friday. Stochastics and the RSI are turning 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 renews the aforementioned decline, weekly support crossing is the next downside target.
 Dollar / Swiss Franc Technical Analysis
The USD/CHF closed lower on Thursday and below the 20day moving average crossing. The low-range close sets the stage for a steady-to-lower opening on Friday. 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 Market Indices and Currency Spread Betting Technical Analysis Reviewing FX, USD/JPY, USD/CHF' edited by PipTrade, updated 20-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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