Forex Marketz Daily Forex News – Fully Markets Update
S&P500 (1960.90)
The market declined sharply as we expected. We note the appearance of an evening star, which is typically bearish in nature then the market pulled back. We do see the strong technical level of 1,900 holding then a push back higher. This means we could retest the strong technical level at 1990.40.
Should the marker continue to push lower, with a close near or below 1,955.50/1,954, then we could push lower to 1,942.80 then 1,940.
USD/JPY (102.324)
The dollar is trying to move higher once again after falling to a 10 day low near ¥102.00. Should we see a daily close above ¥102.50, then we could make a push for ¥102.70/75.
Should the dollar continue its slide here, a close below ¥102.30/29 opens the gates lower for a test of ¥102/102.99 and lower.
EUR/USD (1.33951)
The Euro continues to stay bearish. However, looking at our daily chart below, we note some consolidation above 1.3320 but any bounce was limited near the strong resistance level at 1.3445.
A close below 1.3330 is bearish to target 1.3210 this week. A move back above 1.3445 indicates a bottom in place and will bring a short term bounce for 1.35/1.3502.
