Charts Today – 22 August 2019 – Stocks steady in quiet markets
- Dollar Index just holding bullish including against the Yen.
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Eurodollar kicks up starting to look short term bullish.
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Sterling running out of steam in recent short term rise.
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Bitcoin back below $10,000.
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US stock indices wandering into short term bullish territory slowly moving off daily cloud support.
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Russell 2000 index also looking better short term.
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US indices set for flat opening today based on US futures.
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UK blue chips and midcaps drift lower.
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Germany and French stock indices moving to short term bullish.
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Asian stock mixed overnight.
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Crude oil moves higher, short term bullish.
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Gold and silver short term bearish.
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European banks up but their charts look dire.
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EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
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GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
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Week ahead – US GDP and BoJ decision on top of next week’s agenda
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