The minimal drop yesterday, which came with thin trading conditions, held the Dow Jones Industrial Average within a small trading range of simply 48 points on Tuesday finally finishing 17.90 points, or 0.15%, lower at 12018.63. The Standard & Poor’s 500-stock index fell 4.61 points, or 0.36%, to 1293.77 and the Nasdaq Composite dropped 8.22 points, or 0.31%, to 2683.87. The stall happens following a three day rally during which the Dow accumulated 3.5% and gotten back the 12000 mark for the first time since the March 11 Japan earthquake.
The current rally was stimulated by strengthening geopolitical developments plus a big merger announcement on AT&T’s deal to acquire T-Mobile USA from Deutsche Telekom.
The forex currency trading market is more risk averse this morning as opposed to the stock markets. The traditional safe haven foreign currencies are enjoying this small drop in risk appetite, namely the USD, the JPY and the Swiss Franc.
EUR/USD forex signals predictions: The upper 20-day Bolli Band at 1.4230 is beginning to rise under the euro’s strain. The EUR traded at 1.4249 yesterday, yet some delay is most likely as the single currency confronts 2 key resistances ahead – 1.4283 Nov. 4 high and the mental 1.4300. The market structure is favorable although a modest USD recover towards 1.41 may perhaps be looming as the EUR/USD rally wanes. Opinion is higher.
GBP/USD fx signals: A very similar picture to the EUR/USD couple is noticed on this chart. The upper Bolli band, at 1.6402 currently, is ascending very well permitting the GBP more gains. However, a failure at 1.6400 psychological resistance might encourage a few forex traders to take profits subsequent an impressive run from 1.6000 only four sessions ago. RSI is at 60 comfortably south of the overbought mark of 70. MACD is in a bullish cross. The bigger picture calls for additional advances subsequent to a short term retreat.
USD/JPY forex alerts: The 20-day MA, presently at 81.60, is capping the topside. A burst above may probably propel the USD near to 84.00. RSI and MACD have diverged with the MACD striving to hang on to the bullish look, while RSI is struggling to preserve the momentum higher and decisively appears southward this morning. Bias is neutral.
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