Market Recap: A Great Day For Greenback Bulls
Matt Simpson | Apr 09, 2014 02:17AM ET
Not a great day for Greenback bulls whilst US Tech Investors decided 3-days of losses were enough.
AUD/USD Trading above our 0.9350 target for the most bullish day in 4 weeks
EUR/USD Trading just beneath 1.380 leading into Asia, sandwiched between Weekly R1 and Monthly Pivot
GBP/USD Manufacturing increased for a 3rd month to sit at a 5-month high (1% vs 0.3% expected); Cable closed up 0.8% and its most bullish day since the beginning of Feb
USD/CAD Sits on our 1.091 target after firmly rejecting 1.10 resistance; Housing Starts and Building Permist both fell short of expectations with housing starts at a 4-year low;
USD/CHF back near last week's lows and a 2nd consecutive bearish close
USD/JPY Broke below 102 support for a -12% loss, the biggest single day loss in 3 months
NASDAQ saw the most bullish action but remains as an inside day; potential interim bottom is forming
S&P Near-term is bullish above 1830 support
DJI Riskshaw Man Doji and closed above 16460 support
Gold reached a daily high of $1314 but since retraced and formed support above $1308; Near-term outlook remains bullish
Silver is failing to receive the same bullish attention as Gold and still looks fragile below $20
Copper output has risen to see the metal gain 1% by close and remains above $300 support
WTI continues to build bullish momentum and trading at a 5-week high
Brent firmly back within a longer-term triangle after rejecting $104 lows Approaching $108 resistance
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