Daily Market Review & Financial Analysis

Stocks Rise Around the World

August 20, 2019

U.S. Stock Market

Pivot : 7,620 Last : 7,719

Review:

U.S. stocks were higher on Monday, thanks to gains in the Oil & Gas, Technology and Consumer Services sectors. The Dow Jones rose by 0.96%, the S&P 500 was up 1.21% and the NASDAQ increased by 1.35%.

Technical comment:

(Researched by Trading Central): the RSI is bullish and calls for further upside.

Preference scenario:

Long positions above 7,620.00 with targets at 7,780.00 and 7,850.00 in extension.

Alternative scenario:

Below 7,620.00, look for further downside with 7,532.00 and 7,430.50 as targets.

Resistance 7,780 7,850 8,000
Support 7,620 7,532 7,431

Japanese Yen

Pivot : 106.4 Last : 106.6

Review:

The USD/JPY fell on Monday, closing at 106.60.

Technical comment:

(Researched by Trading Central): the RSI is above its neutrality area at 50.

Preference scenario:

Long positions above 106.40 with targets at 106.70 and 106.95 in extension.

Alternative scenario:

Below 106.40, look for further downside with 106.15 and 105.95 as targets.

Resistance 106.7 107.0 107.3
Support 106.4 106.2 106.0

Gold

Pivot : 1,503.0 Last : 1,496.2

Review:

Gold traded lower on Monday, after a good day for stocks around the world.

Technical comment:

(Researched by Trading Central): the RSI is mixed to bearish.

Preference scenario:

Short positions below 1,503.00 with targets at 1,492.00 and 1485.00 in extension.

Alternative scenario:

Above 1,503.00, look for further upside with 1,510.00 and 1,515.00 as targets.

Resistance 1,515.0 1,510.0 1,503.0
Support 1,492.0 1,485.0 1,480.0

Crude Oil

Pivot : 55.5 Last : 56.1

Review:

Oil prices rose on Monday, closing at $56.10.

Technical comment:

(Researched by Trading Central): the RSI is bullish and calls for further gains.

Preference scenario:

Short positions below 55.30 with targets at 54.05 and 53.55 in extension.

Alternative scenario:

Below 55.50, look for further downside with 55.05 and 54.45 as targets.

Resistance 56.6 57.3 58.0
Support 55.5 55.1 54.5

Euro (EUR)

Pivot : 1.1100 Last : 1.1084

Review:

The EUR/USD moved higher as investors bet on positive results from fiscal stimulus despite persistent concerns that both Germany and the U.S. could be headed towards recession.

Technical comment:

(Researched by Trading Central): as long as the resistance at 1.1100 is not surpassed, the risk of a break below 1.1065 remains high.

Preference scenario:

Short positions below 1.1100 with targets at 1.1065 and 1.1050 in extension.

Alternative scenario:

Above 1.1100 look for further upside with 1.1115 and 1.1135 as targets.

Resistance 1.1100 1.1115 1.1135
Support 1.1065 1.1050 1.1030

British Pound (GBP)

Pivot : 1.2130 Last : 1.2145

Review:

The British pound traded higher on Monday, closing at 1.2130.

Technical comment:

(Researched by Trading Central): as long as 1.2145 is the resistance, a decline to around 1.2110 is likely.

Preference scenario:

Short positions below 1.2145 with targets at 1.2110 and 1.2090 in extension.

Alternative scenario:

Above 1.2145, look for further upside with 1.2170 and 1.2190 as targets.

Resistance 1.2145 1.2170 1.2190
Support 1.2110 1.2090 1.2075

Disclaimer: The charts are provided by Trading Central, which is a respected third party research provider. The information provided should not be considered as trading advice. UFX provides Trading Central chart analysis to support clients in their trades, which should be independently evaluated. Past performance is not a reliable indicator of future results. UFX cannot be held liable for any information provided by Trading Central. UFX makes no representation and assumes no liability as to the accuracy or completeness of the information provided nor any loss arising from any investment based on this material, forecast or other information supplied by an employee of UFX, a third party or otherwise.