US Stock Market –
U.S. stocks was closed yesterday, due to president day. At Friday
the NASDAQ rose by 0.75%, the S&P 500 rose by 0.41%, and the Dow
Jones added 0.26% from its value. Technically, according
to the weekly chart, the Dow Jones is trading bullish with RSI
indicator above 50. As long as the index maintaining these conditions it
is expected to rise towards 18,500 soon. However, falling below the
bullish trend line may drop the index towards 17,000
areas once again.
JPMorgan (JPM)
–
JPMorgan
shares rose by 0.17%, closing at $59.67 a share. Technically, according
to the 1-hour chart, the share is trading bullish, and with momentum
indicator
above 0 it is expected to rise towards $62.00 areas. However, if the
share will fall and the momentum will change to a negative, a
retracement towards $56.00 can be expected.
Last: 59.58
U.S. Dollar (USD) –
The U.S. Dollar traded mostly low against most major currencies after disappointing economic data on Friday. Yesterday U.S. markets closed for the Presidents'
Day Holiday. Today, NAHB Housing Market Index is expected to publish at 58 vs. 57 previously.
Gold
–
Gold rose at Friday,
closing at $1232 an ounce. According to the Daily chart, gold is
trading positive with MACD indicator above 0. As long as the precious
metal maintaining the positive momentum it is expected to rise and
breach above
the resistance of $1,240. However, failing to do so, may take the
precious metal down towards $1,210 areas.
Gold – Last: 1,232
Crude Oil –
Crude
Oil fell, closing at $52.78 a barrel. Technically, according to the
1-hours chart, oil is trading in a bullish momentum with RSI indicator
above 50. Should oil
succeed in breaching the resistance of 54.00, we might see a rise
towards $55.00. However, failing to do so can cause a reversal momentum
and dropping towards $48.00 can be expected.
Crude Oil – Last: 52.66
Euro (EUR)
–
The euro fell versus the U.S. Dollar, closing at 1.1353, as talks between Greece and euro zone finance
ministers reached an impasse, setting the stage for the current bailout agreement to lapse at the end of the month.
Technically, according to the daily- chart the EUR/USD is trading above
the support level of 1.1270. As long
as the pair is maintaining above this level with Momentum indicator
above 0, it is expected to rise towards 1.1400 soon. However, breaking
below the support level may cause a reversal momentum and take it down
to around 1.1300. Today, the German ZEW Economic
Sentiment is expected at 55.4 vs. 48.4, the ZEW Economic Sentiment at
51.3 vs. 45.2 previously.
EUR/USD – Last: 1.1334
British Pound (GBP) - The Pound fell versus the U.S. Dollar, closing at 1.5362 in quiet trade
on Monday,
as sentiment on the greenback remained vulnerable after a recent string
of downbeat U.S. data. Technically, according to the 4-hour chart, the
pair is trading bullish, supported by the RSI indicator above 50.
Maintaining these conditions may take
the “cable” towards 1.5400 areas. However, dropping and breaking below
the bullish trend line may change the momentum, and falling towards
1.5300 can be expected. Today, high volatility is expected when the CPI
will publish, expected at 0.3% vs. 0.5% previously,
PPI Input expected at -2.5% vs. -2.4% and RPI at 1.2% vs. 1.6%.
GBP/USD - Last: 1.5352
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