ommentary by Nial Fuller and Larry K.
Daily Member’s Market Commentary: 7-18-14
In the U.S. markets today, stocks gained ground, rebounding after the S&P 500 suffered its worst drop since April 10th yesterday.
The Dow added 123.37 points or 0.73 percent, the S&P 500 gained 20.10 points or 1.03 percent, and the Nasdaq gained 68.70 points or 1.57 percent.
Currency Commentary:
In the currency markets today, the euro dipped below $1.3500 for the first time since February following global tensions after a Malaysian airliner was shot down near eastern Ukraine and Israel escalated its ground assault in Gaza.
The U.S. dollar gained 0.2 percent on the yen while the euro fell about 0.1 percent against it.
Chart commentary:
Nial’s views on the Charts (this is not advice or a recommendation, it is educational and general information only, all charts are the daily time frame unless marked otherwise.)
EURUSD – The EURUSD dipped below 1.3500 key support today briefly, before ending the day basically unchanged after paring most of its early-session losses. Overall, momentum has been bearish in this market recently, and we will look to sell next week if the market rallies back up to resistance near 1.3575 – 1.3590 area. Traders can keep an eye on that resistance zone for price action sell signals next week, to trade back in-line with the bearish momentum in this market.
ommentary by Nial Fuller and Larry K.
Daily Member’s Market Commentary: 7-18-14
In the U.S. markets today, stocks gained ground, rebounding after the S&P 500 suffered its worst drop since April 10th yesterday.
The Dow added 123.37 points or 0.73 percent, the S&P 500 gained 20.10 points or 1.03 percent, and the Nasdaq gained 68.70 points or 1.57 percent.
Currency Commentary:
In the currency markets today, the euro dipped below $1.3500 for the first time since February following global tensions after a Malaysian airliner was shot down near eastern Ukraine and Israel escalated its ground assault in Gaza.
The U.S. dollar gained 0.2 percent on the yen while the euro fell about 0.1 percent against it.
Chart commentary:
Nial’s views on the Charts (this is not advice or a recommendation, it is educational and general information only, all charts are the daily time frame unless marked otherwise.)
EURUSD – The EURUSD dipped below 1.3500 key support today briefly, before ending the day basically unchanged after paring most of its early-session losses. Overall, momentum has been bearish in this market recently, and we will look to sell next week if the market rallies back up to resistance near 1.3575 – 1.3590 area. Traders can keep an eye on that resistance zone for price action sell signals next week, to trade back in-line with the bearish momentum in this market.
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