- 
- 
- 
Welcome,
Guest!
News
Forex Brokers
Trading Tools |
Global Market Wrap: Market Indecisive During Asian Session
0
votes
Market Indecisive During Asian Session Equity Futures: Dow -11.00. S&P -1.80. NASDAQ -2.25. Japanese Nikkei -80.00. German Dax +20.00 Stock markets were trading in a mixed fashion during the Asian session. The Japanese Nikkei was dropping 74 points while the Australian S&P/ASX has gained 10 points and the MSCI Asia Pacific Index has declined 0.07 points. Nearly 170 stocks on the Nikkei 225 were declining during the trading day. Exporters such as automobile manufacturers were leading the declines with Isuzu Motors falling by as much as 6.2 percent and Mitsubishi Motors dropped 4.58 percent. Trade Plan of the Day: TheLFB Trade Plan is Usd/Cad, one of the six that are available to members on the major pairs each day, plus four Jpy based cross pairs, S&P futures, oil, gold, and the dollar index. The MSCI Asia Pacific Index has lost 0.07 points or 0.05 percent during the session. Overnight, the Japanese Nikkei has declined 74.12 points (0.77%) to 9,602.68. The Australian S&P/Asx has advanced 10.70 points (0.23%) to 4,749.70. Crude oil was recently trading at $79.61 per barrel, higher by $0.03. The commodity found support near the 20 day moving average at 78.90. Gold was recently trading higher by $1.10 to $1,142.20. The precious metal has found support near the 1140 area.
Gold is still trading higher and searching for the resistance in our blue wave V leg of a Long red wave 5). Gold is reflecting the weak U.S. dollar sentiment, and traders may see an important bounce higher on the U.S. dollar currency, once the gold finishes the near-term Long wave count. Traders should wait on a short break of the 1100 support zone, of a blue wave IV, before the market confirms a bearish reversal. Until that happens, a move up into much higher levels around 1165 may still easily be achieved, especially if U.S. dollar index breaks through the 74.70 support zone. The Eur/Usd pair traded lower on Tuesday, into the 1.4800 region as expected. The lows were hit at 1.4807 area, around the lower support line of the channel where the recent turning point appeared. From this area, euro may start to trade higher again, to approach to 1.5062 zone, following the A), B), C) corrective count shown on the 4 hour chart. To confirm this, the market needs to trade above the black wave B)/II) 1.5000 area. The market is still trapped in the bear channel, which means that move lower into the black wave III shown will be easily achieved if the 1.4800 support zone fails to hold as support. The instigator may be another test and failure at the 1.5000 region.
Content Provided by
LFB Forex
Based in the US, London and Europe, TheLFB team is determined to make a difference in the lives of as many traders as possible through their market insights and professional approach. The team’s initial goals for new members include creating a sense of community while instilling confidence and a sense of well-being at the trading station. |
TheLFB-Forex.com
TheLFB Charting:
TheLFB Charting
TheLFB Charting:
  |
|
|
|
