DOW JONES

Dow is consolidating within narrow range and low-volume trading on Friday, following sell-off on Thursday, triggered by arrest of Huawei CFO.
The fall found footstep just ticks above previous low at 24246 (23 Nov) ahead of strong rebound, which eased downside pressure.
Thursday’s Hammer could be a signal of stronger recovery, but scenario so far lacks further signals which could be generated on lift above a cluster of MA’s at 25021/25156 zone (20/200/10/30SMA), also 50% of 26087/24255 bear-leg and keeps the downside vulnerable.
Bearish daily techs add to negative outlook, but potential attempts lower need clear break below lows of short-term range at 24246/24085 to end 1 ½ month long range-trading and signal extension of pullback from new all-time high at 26962 (03 Oct).
Markets await fresh signals from US NFP data today (200K f/c vs 250K prev / AHE 0.3% f/c vs 0.2% prev) which could confirm the strength of US labor sector, that Fed chief Powell highlighted in his speech on Thursday.

Res: 25021; 25156; 25387; 25491
Sup: 24703; 24255; 24246; 24085

DOW

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD bouncing modestly on disappointing US Consumer Confidence

The shared currency remains pressured by the idea that the ECB will come out with massive stimulus measures in September. US Michigan Consumer Confidence down to 92.1 brakes dollar's gains.

EUR/USD News

GBP/USD retreats sharply after approaching 1.2200

The GBP/USD pair came under selling pressure after flirting with weekly highs, as a dismal US confidence report brought back risk-off. GBP/USD still up for the week and above the critical 1.2100 level.

GBP/USD News

USD/JPY: Greenback makes modest progress against Yen, near 106.30

The demand for Yen as a safe-haven currency has been weak in the last three days. The levels to beat for bulls are at the 106.30 and 106.55 resistances.

USD/JPY News

Four Signs of A Bear Market

I am a believer that the Universe gives you signs. That may sound a bit crazy, but these three charts are three more signs of a bear market. The top chart is the GLD exchange traded fund.

Read more

Gold gives back territory towards a 23.6% retracement

Gold prices were a touch lower by the end of the week, falling -0.68% having travelled between a high of $1,528.00 to a low of $1,503.87, ending the NY session around $1,513. 

Gold News

Majors

Cryptocurrencies

Signatures