INDICES

Technical Analysis – GER30 index closes above the 50-SMA and downtrend line

Posted on August 19, 2019 at 3:22 pm GMT

The GER30 index put in a rally, pushing upwards off the 11,266 low of August 15. The price surpassed 11,580, which is the 23.6% Fibo of the down leg from 12,600 to 11,266 and near the resistance of 11,607 from June 3. More importantly the appreciation of price moved above the 50-period simple moving average (SMA) and downtrend line to enter the Ichimoku cloud. Although the momentum indicators suggest a short-term positive directional trend in place, traders should be cautious [..]

Technical Analysis – US Dollar index pushes north again

Posted on August 19, 2019 at 12:57 pm GMT

The US dollar index moved north from the 100-day simple moving average (SMA) as buyers dominated, taking back most of the losses produced from the high of 98.67 on August 1. The price has come to settle above 97.90, which is the 23.6% Fibonacci retracement level of the up-leg from 95.34 to 98.67, and slightly below the May peak of 98.23. The momentum indicators are reflecting a bullish bias as the MACD is ascending again above its red trigger line [..]

Technical Analysis – US500 index grows bullishly; eyes 2,940 resistance

Posted on August 19, 2019 at 11:15 am GMT

The US 500 stock index (cash) is looking increasingly positive in the short term, having surpassed its 50-period simple moving average (SMA) and the Ichimoku cloud and given the positive direction in the RSI and the MACD. The bulls, however, may need to lift the index above the 2,940 barrier to confirm further upside, while a significant break above the 200-period SMA (2,960) may increase buying interest towards the 3,000 level. Should the price retreat below the cloud, traders could search for immediate [..]

Technical Analysis – US 30 index caught in no-man’s land

Posted on August 13, 2019 at 11:36 am GMT

The US 30 index suffered some losses in early August, but managed to recover part of them, and currently sits between its 50- and 200-day simple moving averages (SMAs). The near-term bias therefore seems neutral, with a break of either SMA needed to provide a directional signal. Short-term momentum indicators paint a flat-to-negative picture. The RSI is flattening above its 30 line, though the MACD seems to be moving deeper into the negative territory. Further declines could encounter support near [..]

Technical Analysis – US500 index slips to retest 50-SMA but bullish bias not faded yet

Posted on August 9, 2019 at 10:26 am GMT

The US500 stock index managed to restore more than half of the losses it recorded after reaching a new record high last week, and even though it failed to hold above the 50-period simple moving average (SMA), the bullish forces have not fully faded yet. The MACD continues to pick up strength in positive territory and comfortably above its signal line, the RSI continues to consolidate in bullish area, while in Ichimoku indicators, the red Tenkan-sen is flattening above the [..]

Technical Analysis – US dollar index turns south from new multi-month high; halts at the 100-SMA

Posted on August 7, 2019 at 1:16 pm GMT

The US dollar index produced a new twenty-six-month high of 98.67. Sellers took control and logged a correction from the high on August 1 toppling the price to the 97.00 hurdle. The level is the 50.0% Fibo retracement of the up move from 95.34 to 98.67, coupled with the 100-day simple moving average (SMA). The MACD and the RSI are suggesting that a revival of the bullish directional momentum could evolve, as the RSI has rebounded off the 50 level [..]

Technical Analysis – JP225 index slumps to oversold area; key support ahead

Posted on August 5, 2019 at 1:18 pm GMT

Japan’s 225 stock index has been unable to clear the heavy resistance around the 50% Fibonacci extension of the long donwleg from 24,472 to 19,239, with the price falling forcefully below its simple moving averages (SMA) and the Ichimoku cloud over the past week. The RSI and the Stochastics suggest that negative momentum could stall in the short-term as both indicators have slumped into oversold territory, but according to the MACD any price reversal may not last for long as the index seems to have [..]

Technical Analysis – GER30 index needs a break above 20-SMA

Posted on August 1, 2019 at 1:19 pm GMT

The GER30 index put breaks on Wednesday’s sell-off and geared up to move-off one-month lows but the 20-period simple moving average (SMA) in the four-hour chart did not let the recovery to continue. In the short-term the bulls could revisit the 20-period SMA if the RSI and the MACD keep improving. Any significant step higher and above the 38.2% Fibonacci of 12,279 of the downleg from 12,661 to 12,043 could open the door for the 50% Fibonacci of 12,534 and [..]

Technical Analysis – US dollar index jumps above the upper Bollinger band; prints new high

Posted on August 1, 2019 at 9:39 am GMT

The US dollar index produced a new ten-week high of 98.67. The buyers clearly overwhelmed the sellers from the last swing, pushing up from the 96.30 level after the price tested the middle Bollinger band multiple times in a sideways move during July. It is worth mentioning that once after the price bounced off the mid band and rallied up, of the last nine days only two red neutral candles formed, confirming a volatile move north. Momentum indicators are currently [..]

Technical Analysis – US30 index turns sideways after making new highs

Posted on July 31, 2019 at 12:13 pm GMT

US30 stock index has pushed higher, making higher highs, after breaching the 26,708 high from May 1. The two-month run up from the low of 24,606 produced the 27,403 all-time-high, but the price has currently paused and moved into a short-term sideways market. The MACD is below its red trigger line in the positive region, whilst the RSI hovers midway between the neutral and over bought levels. The ADX is currently showing weakness and the absence of a trend in [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms