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Weekly Market Snapshot - September 18, 2015: Forex, Stock Indices, Commodities

Posted by Akhilesh Ganti on Sep 18, 2015 7:03:26 PM

September 18, 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_091815.png
Market Best Performer Worst Performer Comments
Forex AUDUSD  EURAUD Antipodean currencies outperformed the other majors as FED inaction and the subsequent dovish tone sparked a short covering rally. Euro and the US Dollar were the laggards.
Equity China  Germany Chinese stocks ended the week higher while German stocks were the worst performers. 
Commodity Silver Heating Oil Crude oil prices fell on Friday offsetting most of the week's gains.
  • 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_091815_w.png
  • Chart of Interest - AUD/USD - Weekly (click to enlarge): The price action suggests that a much needed correction is in the process of unfolding aided by a less pessimistic RBA and a FED that sounded more dovish even though they DID NOT raise rates. A sustained break of 0.7230/50 level is needed to embolden traders to start eyeing the 0.75 area. Conversely, a failure would see the bears re-emerge especially if Chinese issues resurface.Chart_audusd_W_091815.png
  • Global Stock Indices, Commodities & USD -vs- Majors Weekly performance(click to enlarge)DOLLAR_091815_w.png

Topics: Asian session, Pivot Points Weekly


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