Dailyfx | Jan 29, 2015 02:07AM ET
Talking Points:
US DOLLAR TECHNICAL ANALYSIS – Prices may be readying to turn lower after producing a bearish Evening Star candlestick pattern. A daily close below the intersection of the 14.6% Fibonacci retracement and a rising trend line at 11725 exposes the 23.6% level at 11640. Alternatively, a reversal above the 11854-88 area marked by the March 2009 high and the 38.2% level opens the door for a challenge of the 50% Fib at 11983.
S&P 500 TECHNICAL ANALYSIS – Prices declined as expected after putting in a bearish Evening Star candlestick pattern. A daily close below 1996.10, the intersection of the 61.8% Fibonacci expansion and a rising trend line, exposes the 76.4% level at 1979.10. Alternatively, a turn back above the 50% Fib at 2009.80 aims for the 38.2% expansion at 2023.60.
GOLD TECHNICAL ANALYSIS – Prices continue to consolidate after finding resistance above the $1300/oz figure. A daily close below the 23.6% Fibonacci retracement at 1274.30 exposes the 1253.77-55.20 area marked by the October 21 high and the 38.2% level. Alternatively, a push above the 14.6% Fib expansion at 1292.73 targets the 23.6% threshold at 1305.39.
CRUDE OIL TECHNICAL ANALYSIS – Prices are stalling having attempted to recover as expected. A daily close above the 14.6% Fibonacci retracement at 50.49 exposes the 23.6% level at 53.77. Alternatively, a reversal below the 14.6% Fib expansion at 47.07 targets the 23.6% threshold at 43.79.
Original post
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.