Technical Analysis 10 September 2010
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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, Gold, Oil, the Dow Jones, S&P 500 and NASDAQ.
Supplied and sponsored by PipTrade.
For today’s report see: Technical Analysis.
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Technical Analysis - 10 September 2010
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Indices Technical Analysis
 Dow Jones Index Technical Analysis
DJI closed higher on Thursday as it extends the rally off August's low. Profit taking tempered early gains and the mid-range close sets the stage for a steady-to-lower opening on Friday. Stochastics and the RSI are overbought but remain neutral-to-bullish signalling that additional strength is possible near-term.
 S&P 500 Index Technical Analysis
SPI closed higher on Thursday as it extended the rally off August's low. The mid-range close sets the stage for a steady-to-lower opening on Friday. Stochastics and the RSI are overbought but remain neutral bullish signalling that additional gains are possible near-term.
 Nasdaq Index Technical Analysis
NDI closed higher on Thursday as it extends the rally off August's low. The mid-range close sets the stage for a steady-to-higher opening on Friday. Stochastics and the RSI are overbought but remain neutral-to-bullish signalling that additional gains are possible near-term.
Forex Technical Analysis
 EUR/USD Technical Analysis
EUR/USD closed lower on Thursday as it consolidates below the 10-day moving average. The low-range close sets the stage for a steady-to-lower opening on Friday. Stochastics and the RSI are turning bearish signalling that additional weakness is possible near-term. Closes below the reaction low crossing would renew the decline off August's high. If it renews last week's rally, the reaction high crossing is the next upside target.
 USD/JPY Technical Analysis
USD/JPY closed lower on Thursday but the high-range close sets the stage for a steady-to-higher opening on Friday. Stochastics and the RSI are 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 low has been posted.
 GBP/USD Technical Analysis
GBP/USD closed lower on Thursday as it consolidates above the 38% retracement level of the May-August rally crossing. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are turning bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing would temper the near-term bearish outlook. If it renews the decline off August's high, the reaction low crossing is the next downside target.
Commodities Technical Analysis
 Gold Technical Analysis
Gold closed lower due to profit taking on Thursday as it consolidates some of the rally off July's low. Stochastics and the RSI are overbought, diverging and are turning bearish hinting that a short-term top might be in or is near. If it extends the rally off July's low, June's high crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a double top with June's high has been posted.
 Crude Oil Technical Analysis
Crude Oil closed lower on Thursday due to profit taking 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 Friday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. Closes above the reaction high crossing are needed to confirm that a short-term low has been posted. If it renews the decline off August's high, May's low crossing is the next downside target.
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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'Technical Analysis 10 September 2010' edited by paddypowertrader, updated 10-Sep-10
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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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