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Weekly Market Snapshot - October 23, 2015: Forex, Stock Indices, Commodities

Posted by Akhilesh Ganti on Oct 24, 2015 5:09:48 PM

October 23, 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_102315.png
Market Best Performer Worst Performer Comments
Forex USDCHF  EURUSD Euro fell sharply after Draghi all but promised more QE. This, coupled with China's rate cut, gave a boost to risk appetite which led to the Japanese Yen weakening while the US Dollar and Aussie strengthened. An unintended consequence of these events is the heightened speculation that the FED is on hold for now as they might not want to further fuel USD strength.
Equity Germany Hong Kong Happy days are here again! ECB chief Draghi's comments that further stimulus is on the way and China's rate cut has major global equity markets, especially the European bourses, in an exuberant mood.
Commodity Gold Natural Gas Chinese rate cut served both as a somber reminder of their sluggish economic performance while also highlighting the dangers to the global economy. This fact was borne out by the decline in crude oil prices.
  • 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_102315_w.png
  • Chart of Interest - Dollar Index - Weekly(click to enlarge)Chart_DXY_W_102315.png
  • Global Stock Indices, Commodities & USD -vs- Majors Weekly performance(click to enlarge)DOLLAR_102315_w.png

Topics: Asian session, Pivot Points Weekly


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