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Technical Analysis Weekly: Forex, Equities, Commodities

Posted by Akhilesh Ganti on Aug 30, 2014 5:15:00 PM

August 30, 2014 (Weeky)Pivot points, Support & Resistance levels for Equity Indices, Commodities, Dollar Index and currency pairs offered by WorldWideMarkets online FOREX trading and USD, Equity Indices & Commodity weekly performance chart.

Market Best Performer Worst Performer Comments
Forex  CADJPY EURCAD US Dollar was modestly stronger across the board as data and market sentiment continues to support the notion that the FOMC hawks are beginning to find their voice. The possibility that rate hikes might happen sooner than had been priced in so far has been the impetus for the Dollar's rally. Euro continues to make multi-month lows -vs- the Dollar as traders focus on the divergent monetary policies. An increase in M&A activity has supported the CAD
Equity EU Stoxx 50 Hang Seng European stocks continued to outperform most global indices as investors speculate that ECB will resort to asset purchases (QE) to stimulate the EU economy. Robust economic data propelled the S&P500 to close above 2000 for the first time ever. Profit taking hit Hong Kong stocks after they made 6-year highs' as investors eye Chinese data for signs of economic resurgence.
Commodity Natural Gas Silver Natural gas continued to rise as inventories expanded at a slower pace even as temperatures revert to their summer norms.
  • PIVOT POINTS
    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.

(click to enlarge)

FOREX 083014 w

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

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DOLLAR 083014 w

Topics: Pivot Points, Asian session, Weekly

 

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