CFD's Technical Overview: FX, Gold, Silver And Emini

By FxGrowMarket OverviewAug 02, 2017 06:01AM ET

www.investing.com/analysis/ecb-minutes-eyed-apple-continues-struggle-200204813

CFD's Technical Overview: FX, Gold, Silver And Emini

By FxGrow | Aug 02, 2017 06:01AM ET

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CFD's Technical Overview Ahead Of U.S. Data

SEP British Pound Current Price 1.3254

Closing Price: (13225)
Target: 13500?
Resistance: 13265, 13318?, 13400
Support: 13170, 13144, 13074* (Strong point)
Trend: Up
Swing Target: 65.90
Range Reversal: 1.3074

The market is bullish and surge to new highs calls for pressing rallies with a chance for a stretching run to 13500. Trade is poised to extend rallies today. We may near term corrections, but trade should now try to hold inside Friday's inside day range to keep strong bull forces. A drop under 13083 is negative. A close under 13074* is needed for a topping turnover.

SEP Canadian Dollar Current Price: 0.7965

Closing Price: (0.7975)
Target: 0.8114?
Resistance: 0.8008, 8049-62, 8114+/-
Support: 0.7944, 0.7913, 0.7859* (Strong point)
Trend: Sdwys/Up
Swing Target: none
Range Reversal: 0.7859

The market is still bullish, but caught in near term corrective congestion. A pop into a new high should spark a stretching run near 8114. Any back off only hints for another 1-2 corrective days and likely stay over 7944 to maintain the momentum of the drive. A close under 7859* is needed to signal a significant top.

SEP Euro Current Price: 1.1840

Closing price:(1.18305)
Target: 1.1900+
Resistance levels: 1.1900+, 1.2000+/-
Support: 1.1797, 1.1701, 1.1650* (Strong point).
Trend: Up
Swing Target: 79.99
Range Reversal: 1.15685

Overall the market is bullish and Monday's surge up from rising congestion alerts for an extension to 11900, likely fostering a stretch to weekly resistance against 12000+/-. Yesterday's inside day keeps trade poised for rallies. Be careful for a top / pullbacks from 12000+/-. Any corrective dips should hold within Friday's inside day range to keep strong bull forces. A drop under 11701 targets setbacks to 115685*.

SEP Yen Current Price: 0.9049

Closing price: (0.90785)
Target: 0.9100 Achieved
Resistance levels: 0.91925 0.9100+, 9160-
Support: 0.9056-53, 0.9036, 0.90025* (Strong Point)
Trend: Up
Swing Target: 117.27
Range Reversal: 0.89745

The short term trend is bullish and punch to new highs with s close over 9120+ could launch a run near 9200. Yesterday's stall under 9120 cautions for minor corrective congestion, but dips should stabilize in the low 9000's. Only a close under 90025* signals a near term reversing turnover, sending a break to test 89745* support.

SEP Swiss Franc Current Price: 1.0371

Closing Price (1.0381)
Target: 10299-
Resistance: 1.0409-12, 1.0434*
Support: 1.0342-, 1.0299-
Trend: Down
Swing Target: none
Range Reversal: 104.34

Last week's break displays a short term topping downturn and targets a selling wave to challenge under 10299-. Trade is positioned for selloffs. We may again see attempts to consolidate declines in the lower edges of last Thursday's selloff, but tight congestion is starting a bear flag to setup for selloffs. Only a close over 10434* rejects the downturn.

SEP Aussie Current Price: 0.7976

Closing price: (0.7994)
Target: None
Resistance: 0.8006, 0.8038, 0.8061
Support: 0.7944-, 0.7909, 0.7885-0.7870* (Strong Point)
Trend: Up
Swing Target: 105.80
Range Reversal: 0.7870

The market is bullish, but needs a pop over last week's reversal high to spark a fresh bull wave. Last Thursday's reversal and yesterday's reversal alerts for at least a near term peak and could prompt sideways lower corrective days along the low 7900's. A drop under last Wednesday's 7873 low and 7870* will send selloffs into topping retracements under 7800-.

SEP US Dollar Current Price: 92.725

Closing Price: (92.901)
Target: 91.88
Resistance: 0.9306-11, 93.795, 94.09* (Strong Point)
Support: 91.88-
Down Swing Target: 80.93
Range Reversal: 94.88

The market is bearish. The continued slide under 9300- is bearish and alerts for pressing action to test a previous weekly chart swing low at 9188. Any corrections will likely stall within Friday's inside day range if bear forces have control. A close over 9409* is needed to boost a correction phase up around the 9488* resistance.

SEP Emini Current Price: 22000

Closing Price: (21935)
Target: 21900 Achieved
Resistance: 22047, 23000+/-
Support: 21880, 21724*, 21615*
Trend: Up
Swing Target: none
Range Reversal: 21615

The market is bullish, extending a breakout move at new highs. The market shows potential for a stretching extreme run to 23000. Any corrective dips should fight to 21724* to keep the upside momentum forces. Only a close under 21615* signals a reversing / topping downturn. Gauge how the market handles the 21900 level for a stall/peak or a surge past 21900 for a blow off to 23000.

SEP Mini Nasdaq 100 Current Price: 5934

Closing Price: (5929.25)
Target: None
Resistance: 595000+, 598900-599575
Support: 589700, 585800-, 582350* (Strong Point)
Trend: Sdwys/Up
Swing Target: 5976.75
Range Reversal: 5823.50

Overall the market is bullish, but last Thursday's outside bear reversal from a new high still alerts for a peak in the drive. Residual bull forces is trying to resume rallies, but a pop over last Thursday's high is needed to rekindle bull trending. Struggling action approaching 595000 warns for selloffs. Key on a close under 582350* to signal a topping turnover that could propel declines below 570000-.

SEP Mini S&P Current Price: 2473.50

Closing Price: (2474.00)
Target: None
Resistance: 248000
Support: 246075-245850, 244925*
Trend: Up
Swing Target: 126.105
Range Reversal: 2449.25

The market is against the 248000 target, cautioning for a shift to corrections. Be ready for another slip and probe along 246000-. Any corrective dips should fight to hold near term upside breakout levels around 245000+. A close under 244925* is needed to alert for a short term turnover into a correction phase. A close over 248000-248500 could spark aggressive rallies towards 250000.

DEC Gold Current Price: 1269.60

Closing Price: (1275.20)
Target: 1283.00
Resistance: 1272.90*, 1278.00, 128300+,
Support: 126750*, 126120*
Trend: Up
Swing Target: 1641.50
Range Reversal: 1261.20

The market is short term bullish and lifting an extension to 128300. A close over 128840 is bullish, but be careful for rallies to stall at 128300+, prompting a setback into corrections. A close under 126750* alerts for near term corrections, but only a close under 126120* highlights a topping turnover.

SEP Silver Current Price: 16.64

Closing Price: (16.695)
Target: 17.16+
Resistance: 16.805, 16.94-16.955, 17.20+
Support: 16.60+, 16.44, 16.13* (Strong Point)
Trend: Sidways/Up
Swing Target: 267.65
Range Reversal: 16.13

The market posture is bullish and the market posture suggests an extension of the drive to 1710-1720. Still be on guard for near term setbacks into 1-2 sideways flagging congestion days. Stable action over 1660+ will keep trade poised for rallies. A roll off through 1644 will send a drop against 1613*. A close under 1613* warns for a sustained retracement / correction phase.

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.90%

Mar 06, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.10%

Apr 01, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

US 30	43,577.0	+142.7	+0.33%
US 500	5,996.5	+40.3	+0.68%
Dow Jones	43,433.12	-188.04	-0.43%
S&P 500	5,956.06	+0.81	+0.01%
Nasdaq	19,075.26	+48.88	+0.26%
S&P 500 VIX	17.89	-1.21	-6.34%
Dollar Index	106.525	+0.196	+0.18%

Crude Oil WTI	69.29	+0.67	+0.98%
Brent Oil	72.77	+0.70	+0.97%
Natural Gas	3.984	+0.025	+0.63%
Gold	2,898.79	-31.81	-1.09%
Silver	32.130	-0.142	-0.44%
Copper	4.6250	+0.0385	+0.84%
US Soybeans	1,030.63	+5.63	+0.55%

U.S. 10Y	4.308	+0.059	+1.39%
U.S. 30Y	4.560	+0.053	+1.18%
U.S. 5Y	4.131	+0.054	+1.32%
U.S. 3M	4.311	+0.010	+0.23%
US 10Y T-Note	110.48	-0.36	-0.32%
Euro Bund	132.57	-0.37	-0.27%
10-2 Yield Spread	17.88	-1.73	-8.82%

Apple	240.36	-6.68	-2.70%
Alphabet A	172.73	-2.69	-1.53%
Tesla	290.80	-12.00	-3.96%
Amazon.com	214.35	+1.55	+0.73%
Netflix	990.06	+12.82	+1.31%
Meta Platforms	673.70	+16.20	+2.46%
Bank of America	43.94	0.00	0.00%

CFD's Technical Overview: FX, Gold, Silver And Emini

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