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AKFX | News

Market News

US Dollar Index Technical Analysis: DXY under pressure below 96.87 key resistance

Posted on 3/18/2019 8:37:52 PM

DXY daily chart

  • The US Dollar Index (DXY) is trading in a bull trend above its 200-day simple moving average.

 

DXY 4-hour chart

  • DXY is trading below its main SMAs suggesting downward momentum in the medium-term.
  • DXY remains bearish below 96.87 key resistance.
  • Supports to the downside are at 96.10 and 95.82 level.

 

Additional key levels

Dollar Index Spot

Overview:
    Today Last Price: 96.49
    Today Daily change: -6 ticks
    Today Daily change %: -0.06%
    Today Daily Open: 96.55
Trends:
    Daily SMA20: 96.68
    Daily SMA50: 96.35
    Daily SMA100: 96.57
    Daily SMA200: 95.8
Levels:
    Previous Daily High: 96.79
    Previous Daily Low: 96.49
    Previous Weekly High: 97.45
    Previous Weekly Low: 96.38
    Previous Monthly High: 97.37
    Previous Monthly Low: 95.4
    Daily Fibonacci 38.2%: 96.6
    Daily Fibonacci 61.8%: 96.68
    Daily Pivot Point S1: 96.43
    Daily Pivot Point S2: 96.31
    Daily Pivot Point S3: 96.13
    Daily Pivot Point R1: 96.73
    Daily Pivot Point R2: 96.91
    Daily Pivot Point R3: 97.03

 

Wall Street getting set for the Fed this week: DJIA en-route to test the psychological 26000 level

Posted on 3/18/2019 8:34:58 PM

  • The Dow Jones Industrial Average added 65 points, or less than 0.3%, to finish near 25,912, based on preliminary numbers.
  • The Nasdaq Composite climbed 0.3% to end around 7,714. 
  • The S&P 500 rose less than 0.4% to end near 2,833.

US stocks added most gains on Monday as the market waits for the Federal Open Market Committee meeting later this week. To start the day, however, the Dow Jones, especially, was a touch heavy and moved to the downside in the first half of the session on news that US regulators have opened an inquiry into the development of Boeing 737 Max airplanes - Shares of Boeing Co. BA, were down 2% on the news. The index was later finding demand at the 25785 lows and climbed its way back towards the highs of 25924.77 and managed to close higher by 65 points.

Looking ahead to this week's Fed:

One would expect the event to be favourable for U.S. stocks where we will see interest rates left unchanged and the central bank sticking to its “patient” approach to policymaking. Markets will be tuned in to see if there will be any announcements with respect to the balance sheet - Markets are of the informed opinion that “quantitative tightening” is coming to an end and that is where the gravy is for stock prices. 

DJIA levels

Despite the Boeing scenario, the DJIA has added to last week’s winning streak and bulls are headed back towards the 78.6% Fibo target located around the psychological 26000 level. However, failures there opens risk towards a downside target at the 61.8% Fibo level positioned beneath the 25000 psychological level at 24847. A break there brings in the 38.2% Fibo at 24500 and then the 50% Fibo just below the psychological 24000 level.

S&P500 Technical Analysis: Bulls looking at the 2,850.00 level

Posted on 3/18/2019 8:16:01 PM

S&P500 daily chart

  • The S&P500 is trading above its main simple moving average suggesting bullish momentum.


 

S&P500 4-hour chart

  • The S&P500 is trading above its main SMAs suggesting bullish momentum in the medium-term.


 

S&P500 60-minute chart

  • The S&P500 is trading above its main SMAs suggesting bullish momentum in the short-term.
  • The break above 2,830.00 can lead to 2,850.00 and 2,890 resistances.
  • Support is at 2,830.00; 2,820.00 and 2,805.00 level.


Additional key levels

SP 500

Overview:
    Today Last Price: 2834
    Today Daily change: 9.25 points
    Today Daily change %: 0.33%
    Today Daily Open: 2824.75
Trends:
    Daily SMA20: 2787.06
    Daily SMA50: 2727.02
    Daily SMA100: 2679.67
    Daily SMA200: 2754.21
Levels:
    Previous Daily High: 2831
    Previous Daily Low: 2810.25
    Previous Weekly High: 2831
    Previous Weekly Low: 2746.5
    Previous Monthly High: 2814.25
    Previous Monthly Low: 2681.75
    Daily Fibonacci 38.2%: 2823.07
    Daily Fibonacci 61.8%: 2818.18
    Daily Pivot Point S1: 2813
    Daily Pivot Point S2: 2801.25
    Daily Pivot Point S3: 2792.25
    Daily Pivot Point R1: 2833.75
    Daily Pivot Point R2: 2842.75
    Daily Pivot Point R3: 2854.5

 

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