Forex Marketz Daily Forex News – Fully Markets Update
S&P 500 (1979.10)
The market has shot higher and crashed through the technical level at 1963.75. We are now aiming for 1980.00 then 1985.30. A break there can test 1991.59.
Alternatively, a break below 1963.75 targets 1937.00 then 1925.00 and lower.
USD/JPY (103.147)
The Dollar continues to look bullish against the Japanese yen. We have now challenged and broken through the key technical level at ¥103.00. A close above ¥103.05, which is the peak seen in July will open the doors to test ¥103.50.
The alternative view, a break and close below ¥102.70 turns our model back bearish for a test on ¥102.50. While that level should contain losses, a break there opens the doors for ¥101.60.
EUR/USD (1.33061)
The Euro continues its retreat. There are a lot of economic factors here dragging it down. From stagnating economic numbers to geopolitical tensions in the Ukraine. We see short term support at 1.3290 coming up. A break and close below that targets 1.3250.
Should the EUR/USD reverse, a close above 1.3345 opens the gates for a test at 1.3430 then 1.3450. The former level, 1.3430, is the August 8 high.
