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Technical Analysis Daily: Forex, Equities, Commodities

Posted by Akhilesh Ganti on Jul 23, 2014 5:45:00 PM

July 24, 2014 (Daily)Pivot points, Support & Resistance levels for Equity Indices, Commodities, Dollar Index and Forex pairs offered by WorldWideMarkets and USD, Equity Indices & Commodity daily performance chart

Market Best Performer Worst Performer Comments
Forex  AUDNZD NZDUSD  As expected, RBNZ raised the Overnight Cash Rate(OCR) by 25bp to 3.50% but appeared to imply that they would stay on hold for a bit to see the effects of the previous raises. This, and their usual warning about their currency's strength, sent the NZD sharply lower across the board.  AUD was stronger -vs- its peers as the rise in inflation coupled with RBA Governor Stevens contentment with current monetary policy all but removes the prospects of any further rate cuts while bringing the possibility of rate hikes into traders consciousness .  
Equity CHINA H Shares NIFTY 50 Chinese stocks continue to rise on speculation that more government stimulus is in the offing. 
Commodity US OIL (WTI) SILVER US Crude Oil (WTI) rose after a report showed a decline in inventories.
    A technical analysis indicator used to try and determine the short-term trend of the market. The pivot point is the average of the high, low and closing prices from the previous trading day. If the market in the following day trades above the pivot point it is thought to be exhibiting bullish sentiment, whereas trading below the pivot point is seen as bearish.

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  • Equity Indices, Commodities & USD -vs- Majors Daily performance

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