Technical Factors Could Trigger Stock Market Rally
Stock indices could rally today following yesterdayâ€™s
closing price reversal bottom. A friendly Fed statement and an upbeat speech
from Obama could be the catalyst behind this rally.Investor confidence seems to have been
restored which has once again generated interest in higher risk assets.
The March E-mini S&P 500 has formed a range between
1148.00 to 1078.50. This makes 1113.25 to 1121.50 a potential upside
target.The charts are also indicating a
possible rally to 1842.00 to 1855.50 in the March E-mini NASDAQ and to 10371 to
10445 in the March E-mini Dow.
Demand for higher yields is pressuring the March Treasury
Bonds and March Treasury Notes overnight. Yesterdayâ€™s Fed report signals that
it is getting closer to hiking interest rates.The news that the Fed is going to end its quantitative easing program on
schedule at the end of March could put upside pressure on yields. Tuesdayâ€™s
closing price reversal top which started inside a major retracement zone is
helping to pressure the March Bonds. All indications are for a possible break
back to 116â€™06.
February Gold dipped lower overnight, but buyers stepped in
when the Dollar weakened. The trend is up in the Dollar which should keep
pressure on gold, although oversold conditions make this market ripe for a
short-covering rally back to $1119.10.A
break under $1075.20 could trigger an acceleration to the downside.
March Crude Oil found support overnight ahead of the
December bottom at 72.53. The test of this price encouraged shorts to cover
positions while attracting bottom pickers. The fundamentals are still bearish
because of low demand and higher inventories. Renewed interest in higher risk
assets could trigger a short-covering rally however.The charts indicate there is plenty of room
to the upside with 78.99 a potential upside target.
The U.S. Dollar is trading flat with a slight bias to the
downside after yesterdayâ€™s upbeat Fed statement and last nightâ€™s State of the
Union address from President Obama.
Traders are reacting to the Fedâ€™s statement calling for a
â€śmoderateâ€ť economy rather than a weak economy. President Obamaâ€™s call for a
jobs plan and political unification is giving investors confidence to take on a
little more risk.
Technical factors may also be playing a major role in the
developing weakness in the Dollar since many markets reached oversold status
after nearing old bottoms or major retracement levels.
Todayâ€™s Durable Goods and Jobless Claims Reports should
offer a little more insight into the condition of the U.S. economy.Durable Goods are expected to be better at
1.6%. Jobless Claims should show a seasonally adjusted increase of 36,000 to
The March Euro continued to weaken overnight after taking
out stops under the psychological 1.40 level. Regaining this level will be a
sign of strength, but the trend will not turn to up until it crosses 1.4194.
The British Pound continues to build a support base with a
bias to the upside. Although the U.K. economy showed weakness earlier this week
after it was reported the GDP rose less than expected, investors seem confident
that the economy has turned the corner.
The March Japanese Yen is trading lower overnight following
the friendly news from the Fed and the upbeat speech from President Obama.
Technically, this market tested a major 50% level at 1.1227 which brought in
fresh sellers and triggered a profit-taking break.The current chart pattern suggests a possible
retracement to 1.0952 to 1.0888.
Oversold conditions and profit-taking is helping to support
the March Canadian Dollar. Short traders finally gave up their positions after
a key resistance angle failed overnight. Demand for higher risk assets, such as
equities and commodities, is also helping to drive the Canadian Dollar higher.
Higher stocks, gold and crude oil could support a rally today. The chart
indicates a correction to .9566 to .9617 is likely over the short-run.
Overnight, the March Swiss Franc continued its down
move with a trade through the December low at .9522.A new main top has been formed at .9647.This market is rapidly approaching oversold
status and could begin a correction at any time. Watch for a closing price
reversal to signal the formation of a bottom
Forex Trading News
Daily Forex Market News Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Forex News Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."
Actionable trading levels delivered LIVE to YOUR charts
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
looking for your first broker or do you need of a new one? There are
more critical things to consider than you might have thought.
We were trading long before there were online brokers. Global-View
has been directly involved with the industry since its infancy. We've
seen everything and are up-to-data with recent regulatory changes.
The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.
The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.
Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.
The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.
Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.
Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.
Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.
WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES
CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN
EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE
PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE
INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC
REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL
SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR
SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.