SPX500 _m in “impasse” after stunning rally

  • SPX500_m printed a doji candlestick on Monday
     
  • Doji candlestick reveals traders' indecision
     
  • Bulls see impasse as calm before surge to 4400
     
  • Countertrend opportunity beckons for bears
     
  • Benchmark stock index still exposed to US Treasury yields moves

 

Technical Analysis SPX500_m

Trade of the Week: Gold hovers near $2k ahead of Powell

  • Gold kicks off Monday on shaky note amid risk-on mood
  • Fed speeches + Powell may influence precious metal

  • Gold bullish but RSI overbought on daily charts

  • Key levels of interest at $1968, $2000 and $2010

Gold Federal Reserve Powell RSI MACD USD

Week Ahead: EURUSD bear flag waits for fresh catalyst

Will BOE help Sterling break out of downtrend?

  • Bank of England unlikely to change benchmark rate today
     
  • "Hawkish hold" could keep Sterling supported, though still stuck in downtrend
     
  • GBPUSD bulls must first conquer 21-day SMA resistance
     
  • 1.2130 region offering support since late-September
GBPUSD Bank of England

Fed/Treasury announcements may trigger USDInd breakout

  • Fed/Treasury announcements today may spike FX volatility

  • USInd has climbed 3 months in a row

  • Bullish momentum stalling as traders await new catalyst for breakout

  • Dollar bulls will look to extend uptrend by 265 points

  • Dollar bears hoping for potential 120 point move south

USD index Dollar index Federal Reserve Treasury yields

Crude oil bears dominate the scene

  • Crude oil under pressure on D1 timeframe
  • H4 timeframe confirms that bears are in control
  • Keep eye on Parabolic SAR and MACD
  • Three potential bearish targets identified on H4 chart
  • If the 83.94 level broken, H4 bearish scenario invalidated

Oil prices remain dominated by bears on the daily timeframe as the global commodity creates a lower top followed by a lower bottom.

This represents a downtrend that could send prices toward the weekly support level of 80.45.

WTI Crude MACD Technical Analysis

Trade of the Week: Can SPX500_m recover from technical correction?

  • S&P 500 is now 10% below its end-July peak; set for third straight monthly drop
     
  • Relief for equity bulls may depend on 4 key events in first 3 days of November
     
  • Events watchlist: US Treasury announcement, FOMC decision, Apple earnings, US jobs report
     
  • Current technical pullback may be short-lived; bulls need fundamental boost
SPX500_m Federal Reserve Treasury yields Apple Earnings technical correction

Week Ahead: US dollar set for scary rollercoaster ride?

  • High-risk events could “trick or treat” investors next week
  • Watch out for central bank decisions, key data & earnings
  • US dollar to be influenced by Fed decision & NFP
  • USDInd trapped within a range on daily chart
  • Key levels of interest at 105.50 and 107.20

An exceptional list of high-risk events could "trick or treat" investors in the week ahead.

USD Federal Reserve NFP inflation Rates MACD SMA

Euro shaky ahead of ECB meeting

  • ECB expected to pause on rate hikes
  • Inflationary pressures have eased in Europe
  • However, economic outlook paints gloomy picture
  • Hawkish messaging may leave doors open to December hike
  • EURUSD back within range, potential breakout on horizon.

As far as markets are concerned, the European Cen

ECB EURUSD MACD Rates inflation

Mid-Week Technical Outlook: Commodities & Indices

  • Crude falls below 50-day SMA
  • Brent wobbles above $88
  • SPX500_m slips below 200-day SMA
  • NQ100_m back within range

Asian markets rose on Wednesday after Chinese authorities approved a whopping 1 trillion yuan in government bonds to support its economy.

commodities indices Brent Crude SPX500_m NQ100m China
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