Technical Analysis
MARKET ANALYSIS
EUR/USD – Side-ways move in last 3 sessions suggests the price would move inside the range of 1.3017-1.3120. On the downside, a daily close below 1.3017 would yield re-test of 1.2945. On the upside, above 1.3130/40 would extend gains toward 1.3199.
MARKET ANALYSIS
EUR/USD: As long as 1.3199 (reaction high from 1.2945) holds, downtrend from 1.4940 may resume later this week and a daily breach of 1.3000 would re-test of 2011 low at 1.2860. But as daily indicators would display ‘bullish convergences’ on next decline, support at 1.2774 would contain weakness.
S&P ANALYSIS
The S&P managed to confirm a positive closing despite the drop to confirmed a lower at 1223,10, just above our stop!! We still expect good resistance at the 200 day line at 1245,04; only a daily closing above this line will confirm higher levels!!
DAX ANALYSIS
The DAX formed yesterday a negative day reversal completely reversing the tone we had in the morning. Only a daily closing below 5773 will confirm a s/t top favouring lower levels.
DAX ANALYSIS
The DAX is confirming the expected test of the 200 hours line at 5908; an hourly closing above this line will support an extension of the move up suggesting a 6000 overshooting!!
S&P ANALYSIS
The S&P confirmed a strong closing last night well above the top of the previous sessions suggesting further strength with the 200 days line at 1245,14 now the attraction. We could however see even a direct overshooting!!
BUND ANALYSIS
The BUND confirmed yesterday a session of consolidation interior Friday’s range forming a new inside day with now 138,96 – 137,50 the levels to follow in the coming hours. A daily closing below 137,50 will confirm lower levels!!
S&P ANALYSIS
The S&P confirmed a weak closing below 1200 finding however good support already at 11955,50 form it started a new attempt on the upside. Only a daily closing below 1195,50 will confirm lower levels toward the support line at 1185,50!
STOXX 50 ANALYSIS
The EUROSTOXX 50 confirmed another weak also yesterday but the extension of the decline was limited. Also for this index we have a potential reversed S_H_S formation with the neck line at 2225.
DAX ANALYSIS
The DAX confirmed a weak closing, below the support of the outside day, suggesting further downside risk toward the 5585/35 gap up area!!
GOLD ANALYSIS
Spot gold had a relatively quiet session on Monday with the metal in consolidation mode after the heavy falls of last week. Volumes dropped back sharply with price movements subdued, despite an early fall in Asia following the death of North Korea’s leader Kim Jong Il.
OIL ANALYSIS
Nymex energy markets were relatively calm yesterday on the back of largely static FX markets despite the death of North Korean leader Kim Jong Il, which is triggering some uncertainty around the world.