Home Markets Weekly Newsletter (FX-Indices-Commodities)

Weekly Newsletter (FX-Indices-Commodities)

Weekly Newsletter (FX-Indices-Commodities)
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EURUSD has a clear downtrend but the double-bottom support at 1.1170 makes a short position doubtful because there will be a small margin for any possible profits. Potential volatility may rise after Thursday due to US news (Durable Good Orders and GDP). Volatility, up to now remains extremely low.


GBPUSD has a decreased volatility, up to 40% the last two weeks. Probably the Brexit delay has calmed down the market anxiety. Downtrend still remains, giving us potential opportunities for short positions when the price action allows it. A break-out of 1.2950 (which GBPUSD has a double bottom) would definitely be a good indication for selling the instrument.


EURCHF has a very strong uptrend that lead the instrument to overbought levels. Last two days retracement, have to the instrument the necessary “breaths” to continue its bullish direction. Possible break-out of 1.1450 would drive EURCHF to the area of 1.15.


EURGBP has turned its trend to an uptrend last week.  Our momentum indicators showed the same thing on a daily chart. a-Quant Currency Explorer shows a strong EUR for all M30, H1, H4 and D1 timeframes. A break-out of 0.8730 would drive the instrument to even higher levels at the area of 0.8840


SP500 rally had a rest last week, most likely due to the Easter low volatility period. It’s very possible for the rally to carry on, even if the momentum of the Index is in a slow-down mode. RSI(14) on the daily chart has never exceed 70 the last months which gives the necessary strength to SP500 for higher levels. Last August’s area of 2945 points is a good challenge for the Index.


DAX30 has a clear and strong uptrend. German banks seem to recover giving extra fuel to the Index. Index is in an overbought area though, which gives us an indication of a pullback while many traders and investors would try to get a Take Profit. Any possible retracement that would lead to a movement of the uptrend would be a great indication for possible buyers.


FTSE100 continued the uptrend rally of the last four months although the volatility has been declined importantly. The crystal-clear uptrend with continuous higher-highs and higher-lows gives a strong indication of trend continuation. First important resistance is 7570 points and above this level the road is open for 7780-7800 points


Gold has crossed below the critical $1300 price. During last week there was an important Gold sell of $1.1 billions but beyond that, the double bottom break-out of $1280 may drive Gold even below $1200. Our daily chart trend and momentum indicators confirm the above.

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