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 Tuesday 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 mid-range close sets the stage for a steady-to-lower opening on Wednesday.
S&P 500 Index Technical Analysis
SPI closed lower on Tuesday while extending the trading range, which began last Thursday. The high-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI remain bearish signalling that sideways-to-higher prices are possible near-term.
Nasdaq Index Technical Analysis
NDI closed higher due to profit taking on Tuesday while extending the trading range of the past eight days. The high-range close sets the stage for a steady-to-higher opening on Wednesday. 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 higher on Tuesday as it extends this month's rally. The high-range close sets the stage for a steady-to-higher opening on Wednesday. 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.
Dollar / Yen Technical Analysis
USD/JPY closed higher on Tuesday as it consolidates some of the decline off April's low. The high-range close sets the stage for a steady-to-higher 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 decline off April's high, the 62% retracement level of the 2010-2011-decline crossing is the next upside target. Closes below the 20-day moving average crossing would temper the near-term bullish outlook.
Sterling / Dollar Technical Analysis
GBP/USD closed higher on Tuesday and above the 20-day moving average crossing confirming that a short-term low has been posted. The mid-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off last week's low, April's high crossing is the next upside target. If it renews the decline off March's high, the 50% retracement level of the December-March rally crossing is the next downside target.
Dollar / Swiss Franc Technical Analysis
USD/CHF closed lower on Tuesday consolidating some of the rally off April's low. The low-range close sets the stage for a steady-to-lower opening on Wednesday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off April's low, April's high crossing is the next upside target. Closes below the 20-day moving average crossing are needed to temper the near-term bullish outlook.
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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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