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Weekly Market Snapshot - October 09, 2015: Forex, Stock Indices, Commodities

Posted by Akhilesh Ganti on Oct 9, 2015 7:13:51 PM

October 09, 2015 - (Weekly) Pivot points, Support, Resistance & Fibonacci retracement levels for Currency pairs, Dollar Index, Global Stock Indices & Commodities offered by WorldWideMarkets and a Chart of Interest. {updated end of week}

  • Weekly Currency Performance (Strongest to Weakest)FX_Strength_100915.png
Market Best Performer Worst Performer Comments
Forex AUDJPY EURAUD A growing belief in the financial markets that, despite protestations to the contrary, the FED has no choice but to stay on hold for the foreseeable future and a surge in commodities, apparently aided by a resurgence in risk appetite, has given a bid to the "com-dolls". Predictably, this has seen the US Dollar and the Japanese Yen end the week as the weakest performing majors.
Equity China  Nasdaq 100  Major global indices collectively had their best week in recent memory as the notion of continuing easier monetary policy emboldened investors to embrace risk.
Commodity US Crude Oil (WTI) Gold Bullish price forecasts coupled with further oil rig closings saw crude have its best performance in 6 weeks. 
  • Pivot Points & Fibonacci Retracement Levels
    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 period. If the market on the following period trades above the pivot point it is thought to be exhibiting bullish sentiment, whereas trading below the pivot point is seen as bearish. The Fibonacci retracement is the potential reversal of a financial instrument's original move in price.(click to enlarge)FOREX_100915_w.png
  • Chart of Interest - Crude Oil (WTI) - Weekly(click to enlarge) The corrective rebound of the last few weeks finally saw a test of the $50 level. A breach could see tests of $54.50 and possibly $61.50 in the coming weeks. While the short term trend has bullish overtones, the longer term trend is still down as the issues that plagued this commodity - oversupply, global economic concerns, etc. - are still prevalent.Chart_CrudeOil_W_100915.png
  • Global Stock Indices, Commodities & USD -vs- Majors Weekly performance(click to enlarge)DOLLAR_100915_w.png

Topics: Asian session, Pivot Points Weekly

 

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