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Technical Analysis Daily: Forex, Equities, Commodities

Posted by Akhilesh Ganti on Oct 29, 2014 8:00:00 PM

October 30, 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  USDCHF  NZDUSD  US Dollar surged after the FOMC announcement that brought Quantitative Easing, a program that was introduced in November 2008 to prop up an economy that was on the verge of collapse, to an end. The market, which seemed to be anticipating a dovish statement, quickly began the process of re-pricing the odds of when the tightening cycle would commence. The phrase that appeared to unnerve doves was the admission that "underutilization of labor resources is gradually diminishing" which is in stark contrast to prior statements which contained "significant underutilization of labor resources". It also suggests that the FED might have some advance knowledge of the next NFP which is scheduled for release on November 07, 2014. As traders were digesting the ramifications of the FOMC, the RBNZ announced the results of their monetary policy meeting and, as expected, chose to stand pat. The Kiwi sold off as they omitted any mention of further policy tightening and reiterated that the level of NZD is unjustified and unsustainable.
Equity China H Shares  EU Stoxx 50  Chinese stocks rose on positive earnings results while European stocks fell.
Commodity  Natural Gas  Gold Gold fell after the FED ended QE. 
  • 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 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 103014

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

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DOLLAR 103014

Topics: Pivot Points, Asian session

 

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