DAX short-term traders not aligned with longer term participants
DAX short-term traders not aligned with longer term participants.
Senior Market Specialist
Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.
DAX short-term traders not aligned with longer term participants.
The weekly chart shows a downside bias. However, support is holding. If the hourly chart develops bearish signals, support may be tested and if longer term downside momentum holds, support is likely to be broken.
Amazon weekly chart analysis indicates an overbought condition at significant resistance.
GameStop (GME.us) shares are set to gap lower on today's gap cash open, after the videogame retailer reported worse-than-expected revenue for its fourth quarter ended January. Adjusted EPS came in at 22 cents, with analysts forecasting 30 cents per share. Sales were also below the consensus of $2.05 billion at $1.79 billion. Hardware and accessories sales fell to $1.09 billion, down from $1.24 billion, and software sales declined 31% to…
Bitcoin is rising today and is trading above $71,100, putting its recent high in sight. The cryptocurrency is up 5.8% so far for this week and is getting closer to its all time high near the $74,000 level, which was reached two weeks back.
The EURUSD is slipping as we enter this week’s trading period. Its green 5-week EMA is crossing below its orange 10-week EMA (black ellipse) as a sign of potential weakness. Its weekly RSI has dipped below 50 (green rectangle). The longer this indicator maintains on the bearish side of 50, the greater downside momentum pressure the EURUSD currency pair will face.
Over the course of this year, the 10-year real rate has charted a higher trough, suggesting support for yields. This may raise some eyebrows as the narrative surrounding rates has changed, which may, in turn, impact on the financial markets.
Apple is in talks with Google to use Gemini artificial intelligence in the iPhone. Gemini is Google’s suite of generative AI tools and may be integrated into iPhone software later this year - Apple may release iOS 18 at its June Worldwide Developer’s Conference.
JPMorgan Chase will pay almost $350 million to bank regulators because of surveillance failures on billions of trades over the last decade. JPM discovered the record-keeping shortfalls and reported them to the Federal Reserve and the Office of the Comptroller of Currency. The Fed penalised the bank to the tune of $98m and the OCC will receive $250m.
Nvidia’s trading this week has been choppy. Notably, it charted a rare bearish outside day on Friday, in a day of high volatility, where the range from its high to low was $108. This hot-bloodedness comes just before its developer’s event, which kicks off on Monday.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.