WorldWideMarkets Community

Forex Trading, Market News & Technical Analysis

Technical Analysis Daily: Forex, Equities, Commodities

Posted by Akhilesh Ganti on Jan 15, 2015 7:00:00 PM

January 16, 2015 (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 CHFJPY EURCHF The major news that the SNB would no longer support the 1.20 EUR/CHF peg caused the Swiss franc to appreciate dramatically across the board and generated the kind of volatility that could roil global markets. In hindsight, yesterday's decision by the European Court of Justice (ECJ) to uphold the legality of potential QE implementation by the ECB appears to be the catalyst that forced the SNB's hand. With the assumption that more pressure would be brought to bear on the Euro, the increasing cost associated with defending this peg was probably the deciding factor behind the SNB's decision.
Equity Nifty 50 Nasdaq 100 A surprise rate cut by the Reserve Bank of India (RBI) gave a boost to Indian stocks while US equities, paced by the tech heavy Nasdaq, fell again, a move that investors hope is just a much needed correction.
Commodity Gold US Crude Oil (WTI) Gold was higher as it benefited from a safe-haven bid. Weaker demand projections from OPEC led to decline in crude oil.
  • 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.

(click to enlarge)

FOREX 011615

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

(click to enlarge)

DOLLAR 011615

Topics: Pivot Points, Asian session

 

Tools & Educational Resources

Forex 101LEARN MORE >>
Learn the basics of Forex and how to practice trading the markets.

GlossaryLEARN MORE >>
Confused by the language? Click here and search for key trading terms.

FAQ CenterLEARN MORE >>
Browse our frequently asked questions and find your answers right away.

VideosLEARN MORE >>
Access to the educational lessons, webinars and platform walkthroughs.

READY TO TRY THE MARKETS?

Get started with a FREE $10,000 Demo Account and experience the Forex Market RISK FREE!