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Technical Analysis Weekly: Forex, Equities, Commodities

Posted by Akhilesh Ganti on Aug 16, 2014 4:00:00 PM

August 16, 2014 (Weekly)Pivot points, Support & Resistance levels for Equity Indices, Commodities, Dollar Index and Forex pairs offered by WorldWideMarkets and USD, Equity Indices & Commodity weekly performance chart

Market Best Performer Worst Performer Comments
Forex CADJPY GBPCHF  An unexpected drop in wages, which posted the worst reading since 2009, and dovish comments from BOE Governor Carney sent the GBP plummeting against the majors. YEN weakened as traders shorted the currency anticipating more BOJ stimulus as data continues to show the economy under-performing. CAD surged on oil prices rising and as housing starts data showed an unexpected acceleration
Equity Nasdaq 100 EU Stoxx 50 US Stocks surged heading into the weekend as increasing violence in Ukraine sent oil prices and, by proxy, energy producers' stocks higher. European stocks were marginally higher for the week though they lagged their peers as Ukraine/Russia tensions threatened to boil over.  
Commodity US Crude Oil (WTI) Natural Gas  US Crude oil spiked higher as news of an Ukrainian attack on a Russian convoy hit the markets. Lower demand due to a mild summer, especially in the heavily populated north-east, has led to an increase in stockpiles which has brought Natural Gas bears out of hibernation. 
    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 week 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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FOREX 081614 w

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

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DOLLAR 081614 w

Topics: Pivot Points, Asian session, Weekly


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