US Dollar Stalling during Resistance, S&P 500 during Risk of Downturn

| 1 april, 2013 | 0 kommentarer

THE TAKEAWAY: The US Dollar continues to case during technical insurgency while SP 500 positioning continues to spirit prices are exposed to a annulment downward.

US DOLLAR TECHNICAL ANALYSIS Prices are contrast descending trend line insurgency during 10473, with a mangle aloft exposing a 23.6% Fibonacci enlargement during 10518. Near-term support is during 10420, a 23.6% retracement level. A dump underneath that aims for a 38.2% symbol during 10324.

Forex_US_Dollar_Stalling_at_Resistance_SP_500_at_Risk_of_Downturn_body_Picture_5.png, US Dollar Stalling during Resistance, Samp;P 500 during Risk of Downturn

Daily Chart – Created Using FXCM Marketscope 2.0

SP 500 TECHNICAL ANALYSIS – Prices pennyless above insurgency during 1565.60, a 38.2% Fibonacci expansion, exposingthe 1575.10-76.10 area noted by a 50% Fib and a index’s record high. A mangle above that aims for a 61.8% turn during 1584.50. Negative RSI dissimilarity continues to advise of a stirring annulment however. The 1565.60 turn has been recast as near-term support, with a pierce behind next that eyeing a Mar 18 low during 1534.90.

Forex_US_Dollar_Stalling_at_Resistance_SP_500_at_Risk_of_Downturn_body_Picture_6.png, US Dollar Stalling during Resistance, Samp;P 500 during Risk of Downturn

Daily Chart – Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices are contrast during a rising trend line set from late Feb (1595.41), with a mangle reduce targeting a 23.6% Fibonacci expansionat 1586.17. Near-term insurgency is during 1616.98, a Mar 21 high. A annulment above that aims for a longer-term descending trend line during 1637.49.

Forex_US_Dollar_Stalling_at_Resistance_SP_500_at_Risk_of_Downturn_body_Picture_7.png, US Dollar Stalling during Resistance, Samp;P 500 during Risk of Downturn

Daily Chart – Created Using FXCM Marketscope 2.0

CRUDE OIL TECHNICAL ANALYSIS Prices are pulling behind from insurgency during 97.67, a 123.6% Fibonacci expansion. Near-term support is during 96.55, a 100% expansion, with a mangle underneath that eyeing a before damaged descending trend line during 96.08. Alternatively, a annulment above insurgency aims for a 138.2% Fib during 98.36.

Forex_US_Dollar_Stalling_at_Resistance_SP_500_at_Risk_of_Downturn_body_Picture_8.png, US Dollar Stalling during Resistance, Samp;P 500 during Risk of Downturn

Daily Chart – Created Using FXCM Marketscope 2.0

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Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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