Forex Marketz Daily Forex News – Fully Markets Update
S&P 500 (1,988.40)
This market continues to push higher. We have now cleared the cluster resistance area which was at 1985.35 to 1991.50. Buyers are now looking to challenge 2,000 then 2006.50. If we continue to move higher we will challenge 2020.00.
There is an alternative view should 2000 hold. We could push back below 1985.35. If this happens then we could open the doors for 1963.50 then 1960.00 once again.
USD/JPY (104.187)
The dollar is moving aggressively higher against the yen. We are now at seven month highs. The pair is now testing near term resistance at ¥104.18. A break and daily close above this level aims for ¥105.00 then ¥105.20.
A reversal and fall below ¥102.80 opens the doors to retest the key support, former resistance level at ¥102.50.
EUR/USD (1.32060)
The euro has now hit an 11 month low versus the dollar. Should we close below the congestion area at 1.3205 to 1.3180, then we will open the gates to test 1.3150 and lower.
A defend at this level and move back above 1.3250 opens the door for an up move to 1.3290.
