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US30 - Eases Back Towards 26500 after Fed Chairman Powell Speech

 

 
In the last few days the US30 index has consolidated a little before easing back today however it is the last few weeks that is significant. A few weeks ago the US30 index rallied strongly to return to back above the 25000 level and continue beyond another key level in 26000 to reach a one month high, before consolidating a little and enjoying some support from 26000. It then surged higher again to get very close to its all time high set last year.
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Market Recap: 17 - 21 June

 

 
On Tuesday last week we covered the AUDUSD which finished the week moving solidly higher off the support level at 0.6850. Just in the week prior, the AUDUSD dropped sharply to its lowest levels for 2019 briefly pushing through any support that may have been present around 0.6850. It had enjoyed a solid few weeks rallying higher to a three week high poking its head just above 0.70, however it has now returned all of those gains and if it doesn’t maintain its recent rally, it could reverse and threaten the support at 0.6850 again.
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US30 - Remains Well Supported by 26000 as Fed’s Williams Calls for Strategy Change

 

 
After consolidating a little in the last week above the key support level at 26000, the US30 index has surged higher to a one month high above 26500 in the last 24 hours. In the week leading up to the consolidation, the US30 index rallied strongly to return to back above the 25000 level and continue beyond another key level in 26000 to reach a one month high. Given the significance of the 26000 level, there was little surprise that the index enjoyed some support from this level as it consolidated.
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Market Recap: 10 - 14 June

 

 
On Tuesday last week we covered the EURUSD which finished the week falling sharply back to the key 1.12 level. In doing so, the 1.13 level offered no support whatsoever as it fell sharply through it. This was a complete reversal from the previous week which saw the EURUSD surge higher to its highest levels in three months and pushing through the resistance at the key level of 1.13.
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US30 - Rallies through 26000 as Mnuchin Expresses Optimism over U.S. Economy

 
In the last week or so the US30 index has rallied strongly to return to back above the 25000 level and continue beyond another key level in 26000 to reach a one month high. Given the significance of the 26000 level, the index may now enjoy some support from this level as it consolidates. In the couple of weeks prior to the strong rally, the index had reversed and eased lower again falling to a four month low around 24600.
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Market Recap: 3 - 7 June

 

 
On Tuesday last week we covered XAUUSD which finished the week surging higher to its highest levels in more than 12 months near $1350. It had been content for the week or so prior to enjoy support from the $1270 level, a level which had ably support the precious metal for the last six weeks or so, despite its best efforts to push lower. 
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US30 - Rallies up to 25500 as Fed Watches Closely

 

 
In the last few days the US30 index has rallied strongly to return to back above the 25000 level and reach a one week high around 25500. In the couple of weeks prior, the index had reversed and eased lower again falling to a four month low around 24600 before the recent rally. Despite its recent excursion below this level, the 25000 level still remains likely to offer some support to the index.
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Valutrades Market Blast 4 June 2019

Welcome to this week’s Market Blast.

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Market Recap: 27 - 31 May

 

 
On Tuesday last week we covered the GBPUSD which finished the week off rallying a little and trying to stop the rot of its large declines. It has however remained below the current key level of 1.27. In the last few weeks the GBPUSD has fallen sharply from the key level at 1.32 down to a five month low near 1.2560. It had previously done well to rally from a two month low up to the 1.32 level before sellers jumped in and turned the sterling away strongly.
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US30 - Eases Towards Four Month Low Below 25500 as U.S. Economy is on ‘recession watch’

 

 
In the last week or the US30 index has reversed and eased lower again as it looks poised to move down through 25200 and reach its lowest level in four months. The 25000 level is the next most likely support level. Only in the week or prior, the index had done well to reverse and rally back towards the key 26000 level which as expected offered resistance again given its history this year. 
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