Daily FX Market Reviews - Pheme news live

Daily FX Market Reviews - Pheme news live 

US Stock Market – U.S. indices finished in the green and the S&P 500 ends at record high, as optimism grew that a debt deal would be reached with Greece and as bond prices sold off. The NASDAQ rose by 0.11%, the S&P 500 rose by 0.16%, and the Dow Jones added 0.16% to its value. Technically, according to the 1-hour chart, the NASDAQ is trading bullish supported by the RSI indicator above 50. Maintaining these conditions may lead the index to rise towards new highs, at 4,450 areas. However, crossing below the bullish trend line can cause to a reversal momentum and dropping to 4,300 can be expected.

Yahoo (YHOO) – Yahoo shares fell, closing at $43.53 a share. Technically, according to the Daily chart, the share is trading below the moving averages 20 and with MACD indicator below 0. Holding below these levels may drop the share to $40.00 areas soon.  However, breaching above the MACD line can cause a reversal momentum and retracement towards the $50.00 once again.

Last: 43.47

Resistance	44.00	45.00	46.00
Support	42.50	41.00	40.00

U.S. Dollar (USD) – The U.S. Dollar traded mostly low as recent downbeat U.S. data continued to weigh on the greenback and investors eyed a fresh batch of U.S. economic reports due later in the day. The Empire State Manufacturing Index report came at 7.8 vs.8.9 forecast and the NAHB Housing Market Index published at 55 vs. 58 expected. Today, high volatility is expected when the Building Permits and the PPI will publish.

Gold – Gold declined yesterday, closing at $1209 an ounce. According to the daily chart, gold has broken below the support level, located at $1,217 and with Momentum indicator below 0. As long as gold maintains this condition, a fall towards $1,180 is expected. However, breaching above the resistance may lift it to around $1,220 areas.

Gold – Last: 1,209

Resistance	1215	1225	1235
Support	1200	1190	1185

Crude Oil – Crude Oil fell, closing at $53.25 a barrel. Technically, according to the 1- hour chart, oil has failed to breach the resistance at $54.00 once again. Should oil succeed in breaching the resistance, with RSI indicator above 50, we might see a rise towards $55.00 areas. However, a failure may take oil down towards $50.00.

Crude Oil – Last: 53.18

Resistance	54.00	55.00	56.00
Support	52.00	51.00	50.00

Euro (EUR) – The euro rose versus the U.S. Dollar, closing at 1.1407 but remained supported by hopes for an agreement on a new financing arrangement for Greece and after upbeat German economic sentiment data earlier in the day. Technically, according to the 1-hour chart the EUR/USD is trading in a channel between 1.1270 and 1.1440.  Breaching the upper level of the channel may take the pair towards 1.1500. However, failing to do so may take it to the lower level of the chart. Today, Greek Presidential Elections is expected.

EUR/USD – Last: 1.1408

                            

Resistance	1.1450	1.1500	1.1550
Support	1.1350	1.1300	1.1250

British Pound (GBP) - The Pound slightly fell versus the U.S. Dollar, closing at 1.5349 after data showed that consumer price inflation in the U.K. slowed to a record-low in January, although sentiment on the greenback remained vulnerable after a recent string of downbeat U.S. economic reports. Technically, according to the 4-hour chart, the pair is holding above the bullish trend line. Falling and breaking below the bullish trend line may take the “cable” towards 1.5250 areas. However, maintaining above this level can cause to soar to around 1.5500 soon. Today, high volatility is expected when the Average Earnings Index, the Claimant Count Change and the MPC Official Bank Rate Votes are about to publish later that day.

GBP/USD - Last: 1.5344

Resistance	1.5400	1.5450	1.5500
Support	1.5300	1.5250	1.5200

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