Daily Market Review - 09/11/2014

U.S. Stock Market


U.S. indices traded in the green yesterday, mostly because of the Apple rebounds following the release of the iPhone 6. The NASDAQ rose by 0.75%, the S&P 500 by 0.36%, and the Dow Jones added 0.32% to its value. Technically, according to the 4-hour chart, the Dow Jones is trading below the resistance of 17,130. Should it succeed in breaching the resistance could lead to a rise to around 17,200, while failure could take it down to around 16,950.



Google shares rose, closing at $583.10. Technically, according to the 8-hour chart, the share is trading in a bullish momentum with MACD indicator above 0. As long as the share is trading above the bullish trend line it may rise towards $600.00. However, crossing below the line may start a retracement to around $570.00.



Gold fell, closing at $1249 an ounce. According to the daily chart, gold is trading in a bearish momentum, supported by the 20-day Moving Average indicator and is struggling to break the support of $1,243. Should it succeed, we might see a fall towards $1,230. However, failing to cross the support may start a trend reversal and a rise to around $1,270.

Crude Oil


Crude Oil fell, closing at $91.72 a barrel, as the Crude Oil Inventories remained unchanged at -1.0M. Technically, according to the daily chart, oil is trading in a bearish momentum supported by the MACD indicator. As long as it maintains these conditions, a fall towards $90.00 is expected. However, breaching the 20 Moving Average line may lead oil towards $95.00 areas.

Euro (EUR)


The euro fell versus the U.S. Dollar, closing at 1.2916. Technically, according to the weekly chart, the EUR/USD is trading in a negative trend with the RSI indicator below 50. Maintaining these conditions may drop the pair towards 1.2800. However, breaching the 10 Moving Average line may lift it to around 1.3100. Today, high volatility is expected following ECB President Mario Draghi’s speech.

Pound (GBP)


The Pound rose versus the U.S. Dollar, closing at 1.6204, as investors focus on the Scottish vote for independence. Technically, according to the 8-hour chart, the pair is trading close to the lower band of the Bollinger Bands indicator and with momentum below 0. Maintaining these conditions may cause to a fall to around 1.6100. However, breaching the upper band may start a retracement to 1.6300.

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