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Technical Analysis Daily: Forex, Equities, Commodities

Posted by Akhilesh Ganti on Mar 18, 2015 8:00:00 PM

March 19, 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 NZDUSD USDCHF The FED dropped the word "patience" from the minutes statement, a move that was widely anitcipated, but also downgraded their economic and inflation outlook and drastically reduced interest rate projections. This resulted in the US Dollar getting hammered across the board with the Euro being the main beneficiary. The common currency rose by about 450 pips with the last 200+ pips coming in about a 5 minute span as the rate touched 1.1040. The pace and magnitude of the move suggests that this was a classic stop loss driven event as a lot of long term shorts probably liquidated their positions. The subsequent retracement, which saw the rate trade back to the low 1.08 level, supports the liquidation hypothesis and also hints at new short positions being reestablished as the market reevaluates FED policy vis-a-vis the one adopted by the ECB.
Equity ASX 200 DAX 30 British stocks rose after the government budget met expectations while German stocks ended lower for the second consecutive session.
Commodity Heating Oil Gold A weaker Dollar helped commodity prices rise.
    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 031915

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

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DOLLAR 031915

Topics: Pivot Points, Asian session


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