A Weekly Report
A Recent Weekly FX/Stock Indices Report
Produced each Wednesday this covers the major currency pairings such as EURO/USD, GBP/USD, USD/JPY, and two stock indices, the Dow and FTSE. It gives a broad technical outlook for these influential markets.
There is an extract of a recent report below.
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SPOT EURO/US DOLLAR
While the medium term Euro bearish outlook is undisturbed with lower targets still readable in the weeks ahead, shorter term trends have again flattened out with values consolidating within a fresh range.
Expect immediate weakness to again uncover support starting in the 1.2350/70 area with a clear and sustained break beneath here required to regenerate downward momentum and confirm targets in and around 1.2040/60. Until/unless achieved further choppy two-way activity is to be anticipated with local resistance visible at initially 1.2600/30 with a decisive move above here needed to trigger better corrective gains.
TRADING STRATEGY: Would continue to utilise corrective bounces to probe the short side of the Euro.
DOW JONES – SPOT INDEX
Overall bullish patterns remain firmly in force with little evidence of a top as yet. Expect prices to challenge the 18000 area in the days ahead where resistance should be encountered and at least a pause for breath experienced. Believe the speed…..