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Technical Analysis Daily: Forex, Equities, Commodities

Posted by Akhilesh Ganti on Oct 28, 2014 8:00:00 PM

October 29, 2014 (Daily)Pivot points, Support & Resistance levels for Equity Indices, Commodities, Dollar Index and currency pairs offered by WorldWideMarkets and USD, Equity Indices & Commodity daily performance chart. {updated at 00:00:00 UTC}

Market Best Performer Worst Performer Comments
Forex CADJPY USDCAD  US Dollar was marginally weaker again ahead of the FOMC decision, where the remaining $ 15 Billion is expected to be tapered thus bringing an end to QE, with the Loonie being the prime beneficiary. Once again the post meeting statement will be thoroughly scrutinized for an deviation in the wording that might offer clues about future policy initiatives. Consensus is for the missive to retain the phrases "considerable time" with regards to interest rates and "significant underutilization of labor resources" with regards to employment.
Equity DAX 30 ASX 200   Companies posting solid earnings and the "promise" of further ECB stimulus boosts German & European stocks. Factor in that global markets are becoming more comfortable with the notion that US will not embark on a tightening cycle any time soon and you have an enviroment that appears conducive for equities to remain buoyant.
Commodity Natural Gas Gold Another day... another forecast which brings to mind the old market aphorism "God created economists to make the weather forecasters look good". This time we have NY meteorologists predicting cooler than average temperatures, which contradicts yesterday's forecast from another "expert" group. Couple this with a contract rollover and the net result was a rise in natural gas prices.
    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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FOREX 102914

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

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DOLLAR 102914

Topics: Pivot Points, Asian session


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