Daily Forex Trading News from Valutrades

US30 - Settles Around Key 28000 Level as Fed Meets

on September 16, 2020 | By Stuart McPhee | DJIA, US30

In the last week or so, the US30 index has slowly but steadily rallied back to the key 28000 level after having dropped sharply from its six month high above 29000 back to a one month low near 27000 in the week prior. Any support received at 28000 was convincingly broken after having provided some support for a few days. It had previously broke through the key 28000 level which provided stiff resistance for more than one week, on its way to the high, and this level it provide some resistance currently after the recent rally. In the two weeks leading up to the resistance at 28000 around mid-August, the US30 index moved steadily higher reaching a then six month high just above 28000.

Market Recap: 7 - 11 September

on September 14, 2020 | By Stuart McPhee | AUDUSD, DJIA, GBPUSD, XAUUSD, US30, Gold

On Tuesday last week we covered the AUDUSD which spent the remainder of the week trading in a narrow range above the key 0.7250 level. In the previous week the AUDUSD eased away from a two year high above 0.74 where it met some reversal signals in the form of doji candlesticks, indicating significant selling pressure above that level for the time being. In the week leading up to the high the AUDUSD was able to push through the resistance at 0.7250, which had been placing downward pressure on the currency pair, and this level is now supporting the AUDUSD, which it has done in the last few days.

US30 - Drops to One Month Low near 27000 as Fed Locked in with Low Rates

on September 9, 2020 | By Stuart McPhee | DJIA, US30

In the last week or so, the US30 index has dropped sharply from its six month higher above 29000 back to a one month low near 27000. Any support received at 28000 was convincingly broken after having provided some support for a few days. It had previously broke through the key 28000 level which provided stiff resistance for more than one week, on its way to the high, and this level may provide some resistance again should the US30 index rally. In the two weeks leading up to the resistance at 28000, the US30 index moved steadily higher reaching a then six month high just above 28000.

Market Recap: 31 August - 4 September

on September 7, 2020 | By Stuart McPhee | EURUSD, USDJPY, DJIA, UKOil, US30

On Tuesday last week we covered UK Oil which spent the remainder of the week falling sharply back below the key $43 level down to a five week low. In the last four weeks or so UK Oil has ever so slightly moved higher reaching a six month high above $46 in the process, in a period of very low volatility, before its recent drop. It very slowly moved through the key level at $43 in July and has since ever so slightly crept higher, and in the last few weeks, it has enjoyed some support from the $43 level. In early June UK Oil made two solid runs towards a then three month high and met stiff resistance at $43 on both occasions. Rather than breaking strongly through this level, it was very subtle.

US30 - Settles Around 28600 as Fed to Approach Inflation Differently

on September 2, 2020 | By Stuart McPhee | DJIA, US30

In the last week or so, the US30 index has settled in a narrow range around 28600 after breaking through the key resistance level at 28000 and reaching a six month high. Having met such stiff resistance at 28000, it may well now enjoy some support from this level now, should it decline a little from its current range. In the last previous two weeks the US30 index met a concrete wall in resistance from the key 28000 level which had kept a firm lid on any advances from the index. In the two weeks leading up to the resistance, the US30 index moved steadily higher reaching a then six month high just above 28000, forming a solid reversal bar showing a rejection of anything above 28000 as it was sold off quickly moving it back down below this key level.

Market Recap: 24 - 28 August

on August 31, 2020 | By Stuart McPhee | AUDUSD, DJIA, GBPUSD, XAUUSD, US30, Gold

On Tuesday last week we covered the AUDUSD which spent the remainder of the week climbing higher before surging higher to its highest level in 18 months above 0.7350. In the last few weeks the AUDUSD has been able to push strongly through the key 0.7050 level and reach a then 18 month high above 0.7250 before consolidating and trading in a narrow range in the last two weeks. The 0.7050 level has played a key role in the last few months first providing resistance to the AUDUSD and more recently supporting price. Should the support at 0.7050 fail, this level may reverse roles and provide some resistance again.

US30 - Breaks Through Resistance at 28000 after Fed Minutes

on August 26, 2020 | By Stuart McPhee | DJIA, US30

In the last day or so the US30 index has eased a little after breaking through the key resistance level at 28000 and reaching a four week high. Having met such stiff resistance at 28000, it may well now enjoy some support from this level now. In the last two weeks the US30 index met a concrete wall in resistance from the key 28000 level which had kept a firm lid on any advances from the index. In the two weeks leading up to the resistance, the US30 index moved steadily higher reaching a six month high just above 28000, forming a solid reversal bar showing a rejection of anything above 28000 as it was sold off quickly moving it back down below this key level. For a few weeks in July the US30 index meet resistance at another key level of 27000 whilst bouncing off support at 26000.

Market Recap: 17 - 21 August

on August 24, 2020 | By Stuart McPhee | EURUSD, USDJPY, DJIA, UKOil, US30

On Tuesday last week we covered UK Oil which spent the remainder of the week continuing to move very little around $45. In the last four weeks or so UK Oil has traded in a very narrow range right around and above what has become a key level at $43, after slowly but surely moving through this level. In the last few weeks, it has enjoyed some support from the $43 level, and in early June UK Oil made two solid runs towards a then three month high and met stiff resistance at $43 on both occasions. UK Oil was forming a textbook ascending triangle with the upper level at the resistance around $43 whilst forming higher troughs throughout June and July, however rather than breaking strongly through this level, it was very subtle.

US30 - Resistance at 28000 Stands Tall ahead of Fed Minutes

on August 19, 2020 | By Stuart McPhee | DJIA, US30

In the last week the US30 index has met a concrete wall in resistance from the key 28000 level which has kept a firm lid on any advances from the index. In the two weeks leading up to the resistance, the US30 index moved steadily higher reaching a six month high just above 28000, forming a solid reversal bar showing a rejection of anything above 28000 as it was sold off quickly moving it back down below this key level. For a few weeks in July the US30 index meet resistance at another key level of 27000 whilst bouncing off support at 26000. For the most part of the last two months, the US30 index has traded in a range between support at 25000 and resistance at 28000, with the 27000 level applying significant pressure in more recent weeks.

Market Recap: 10 - 14 August

on August 17, 2020 | By Stuart McPhee | AUDUSD, DJIA, GBPUSD, XAUUSD, US30, Gold

On Tuesday last week we covered the AUDUSD which spent the remainder of the week trading in a narrow range around 0.7150. In the last few weeks the AUDUSD has been able to push strongly through the key 0.7050 level and reach an 18 month high near 0.7250 before easing throughout the last week back to 0.7150. Since that time it has enjoyed some support from the key 0.7050 level keeping the AUDUSD above that level and near the highs. Should the support at 0.7050 fail, this level may reverse roles and provide some resistance again.

US30 - Settles Around Key 28000 Level as Fed Meets

Market Recap: 7 - 11 September

US30 - Drops to One Month Low near 27000 as Fed Locked in with Low Rates

Market Recap: 31 August - 4 September

US30 - Settles Around 28600 as Fed to Approach Inflation Differently

Market Recap: 24 - 28 August

US30 - Breaks Through Resistance at 28000 after Fed Minutes

Market Recap: 17 - 21 August

US30 - Resistance at 28000 Stands Tall ahead of Fed Minutes

Market Recap: 10 - 14 August

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