We wanted to take the opportunity to take a closer look at some interesting long term charts, index, price levels, diagramformationer and other important observations.
It is generally important to be aware of what’s happening on the higher time frames. We will also explain important concepts, understand the trends and momentum and other technical analysis concepts.
The S & P 500 (Standard & Poor’s 500)
The S & P 500 is a stock index of 500 large publicly-traded companies that are traded in the united states, where trendstrukturen is very clear. The shares included in the index are traded on the New York Stock Exchange or the NASDAQ and are selected by a committee that will select the shares so that the index must be representative of the U.S. industry.
Example: the price stays above the 20 SMA (which is our trend filter).
The downside is 2400 which is an important support / motståndszon. Before we break 2400 and the 20SMA, there is no reason to question the hausfulla momentum.
The US Dollar Index
The USD is the official currency of the united states. It is published by the USA’s central bank – the Federal Reserve (FRB). Dollar is the largest currency in the world and accounts for more than 60% of the market. This is because the united states has the largest economy in the world and the most liquid markets, and because many countries have foreign exchange reserves in dollars.
USD-index has been sold in several months and it is an important supportzon at 92.00 – 93.20. We have seen many reactions here in the past.
There is a good chance that the index will remain but keep in mind that the first week in August is NFP week and the level can be broken. Good figures could lead to another bullish bounce on current support and start a new rally.
The DAX (German stock Index) consists of the 30 largest German companies traded on the frankfurt stock exchange.
DAX is in a transitional phase and the market turns from uptrend to downtrend.
What we have seen here recently is pointing more towards bearishness:
20 SMA has been broken
20 SMA has over the last 3 weeks looked like a strong pressing of the early shorts
Lower tops and bottoms, 12.400 has been broken again
This early stage shows a change in the buyer’s säljbalans and the bulls seem to have lost their interest, and the sellers take over.
EUR / USD
EUR / USD is the most traded currency pair. EUR is the symbol for the euro and the USD is the symbol for the american dollar.
EUR / USD broke the resistance 1.162 and we see a bullish.
If the support on the USD, we keep afloat, we can expect a turning back during the resistance – or perhaps a återtest.
The next level is at 1.197 and the price can be stopped.
AUD / USD (australian dollar and american dollar)
Now the AUD / USD has broken out of its range at 0.78, and found resistance at 0.805. Lower timeframe is showing a stronger support at the 0,854.
Again, this depends a lot on next week and its intensity. But Gold has also accumulated in recent years and this has helped a lot. As we will see later, is gold also faced an important obstacle that now will be played out in the AUD / USD development.
CAD / JPY (canadian dollar and japonska yen)
CAD / JPY chart is in an indefinite status after the price has reached the important motståndsområdet at 88.99 3. We can see that price is approaching the level with a lot of bullishness (long and strong light).
It means, of course, not that we will see a short overtaking and it just shows that investors pause. The best thing you can do here is to wait and observe.
An outbreak is the most likely scenario, which confirms the continuation of the uptrend.
USD / CAD
Last week, the light was extremely strong and closed in the very low level, which confirmed the bearishnessen.
If the momentum continues, we can expect a movement towards 1,18 which is a strong efterfrågningszon. We don’t know how long it can take. Remember – the price has a tendency to move towards the high levels (round numbers, all-time-highs / lows and major support / resistance areas).
GBP / USD (british pound and australian dollar)
GBP / USD has consolidated in close to a year and the price has come back to the support trend line 2 weeks ago. Last week, we saw only a Doji which means a break of inactivity.
An outbreak can lead to more bearishness and the founder trendlinjeavbrotten is good signals. A bounce from the trend line could lead to a hausstarkt move.
GBP / JPY
GBP / USD gives us a triangle. Remember – the price point becomes less and less. An outbreak can be a good signal.
The triangle shows the higher declines which indicates that the buyers go faster. Break over 148 will turn the price up again to 152.
The closing was strong, suggesting hausseffekt. Break above the level could lead to the round level of 1300 – very important level.