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.
Indices Technical Analysis Dow Jones Index Technical Analysis
DJI closed lower on Friday while extending this week's trading range. Closes below last Thursday's low crossing would renew this month's decline while opening the door for a possible test of the 38% retracement level of the March-May rally crossing. The low-range close sets the stage for a steady-to-lower opening on Monday.
S&P 500 Index Technical Analysis
SPI closed lower due to profit taking on Friday while extending the trading range, which began last Thursday. The low-range close sets the stage for a steady-to-lower opening on Monday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term.
Nasdaq Index Technical Analysis
NDI closed lower due to profit taking on Friday while extending the trading range of the past eight days. The low-range close sets the stage for a steady-to-lower opening on Monday. Stochastics and the RSI are bearish signalling that sideways-to-lower prices are possible near-term.
Forex Technical Analysis Euro / Dollar Technical Analysis
EUR/USD closed lower on Friday and below the 38% retracement level of this year's rally crossing as it extends this month's decline. The low-range close sets the stage for a steady-to-lower opening on Monday. Stochastics and the RSI are bearish signalling that sideways-to-lower prices are possible near-term. If it extends this month's decline, the 50% retracement level of this year's rally crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.
Dollar / Yen Technical Analysis
USD/JPY closed lower due to short covering on Friday and the mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bullish hinting that a short-term bottom might be in or is near. Closes above the 20-day moving average crossing are needed to confirm that a short-term bottom has been posted. If it renews this spring's decline, the 75% retracement level of the rally off March's low crossing is the next downside target.
Sterling / Dollar Technical Analysis
GBP/USD closed lower on Friday and below this year's uptrend line crossing confirming that a trend change has taken place. The low-range close sets the stage for a steady-to-lower opening on Monday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends this month's decline, the 50% retracement level of this year's rally crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.
Dollar / Swiss Franc Technical Analysis
USD/CHF closed higher on Friday as it extends this month's rally. The high-range close sets the stage for a steady-to-higher opening on Monday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. If it extends this month's rally, this year's downtrend line crossing is the next upside target. Closes below the 10-day moving average crossing would confirm that a short-term high has been posted.
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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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