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New Blog Post: Forex 101: Understanding Charts (Infographic)

Forex 101: Understanding Charts (Infographic)

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Forex 101: Understanding Charts…

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You wont find any other charting software doing this! PremiereTrade AI 7.0 allows you to use the break out function to populate multiple screens each with the full functionality of PremiereTrade.

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The Momentum indicator will always have an equilibrium or median line drawn across it. When the momentum indicator is above the equilibrium line, the current price is greater than the price N days earlier. When momentum falls below the…

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WorldWide Markets Trading Blog

Technical Analysis Weekly: FX, Stocks, Commodities; Chart of Interest

April 25, 2015 (Weekly)Pivot points, Support & Resistance levels, Fibonacci Reversal levels, Chart of Interest, Dollar Index, Equity Indices & Commodity weekly performance chart by WorldWideMarkets. {updated at 00:00:00 UTC}

Market Best Performer Worst Performer
Forex GBPCHF NZDUSD
Equity Nasdaq 100 Nifty 50
Commodity Heating Oil Silver
  • Pivot Points & Fibonacci Retracement Levels
    A technical analysis indicator used to try and determine the short-term trend of the market. The pivot point is the average of the high, low and closing prices from the previous trading period. If the market on the following period trades above the pivot point it is thought to be exhibiting bullish sentiment, whereas trading below the pivot point is seen as bearish. The Fibonacci retracement is the potential reversal of a financial instrument's original move in price.
    (click to enlarge)

FOREX 042515 w
  • Chart of Interest- {WorldWideMarkets} > AUD/NZD (Weekly) /strong>
    (
    click to enlarge)

Chart audnzd W 042515
  • Equity Indices, Commodities & USD -vs- Majors Weekly performance
    (click to enlarge)

DOLLAR 042515 w

Durable Goods Orders Rise but Business Investment and Shipments Decline

Orders for U.S. durable goods climbed to an eight month high, but key measures of business investment and spending fell underlining the fragility of economic growth as the first quarter ended. 

New orders for goods designed to last more than three years rose 4 percent in March but the increase was largely propelled by higher demand for automobiles, commercial aircraft and an increase in defense spending. Analysts had forecast a 0.6 percent gain. 

The report from the Commerce Department on Friday came after recent weaker than expected if not actually negative data in retail sales, wholesale sales, employment, construction spending, industrial production, capacity utilization and housing starts that indicated first quarter GDP will likely be below 1.5 percent and exhibited little momentum headed into the second quarter.

The Atlanta Federal Reserve revised its GDPNow estimate of the first quarter annual rate of down to 0.1 percent after incorporating durable goods data.

Federal Reserve officials have said that any increase in the Fed Funds rate will be ‘data dependent’. Insufficient economic growth heading into the June or September FOMC meeting could prevent the central bank from raising interest rates until later in the year if at all. 

There has also been weakness in manufacturing sentiment surveys from the Institute of Supply Management and several Federal Reserve districts. 

A key gauge of business investment, 'capital goods orders non-defense ex-aircraft' that is capital goods not including defense spending or civilian aircraft and parts, also called 'core capital goods' fell 0.5 percent for the seventh monthly drop in a row. Economists had predicted a 0.3 percent increase. Orders for February were revised down to -2.2 percent from -1.4 percent. It was the largest decline since July 2013. 

Shipments of these same ‘core capital goods' shrank 0.4 percent in March well below the 0.3 percent forecast. This is the category that is used by the Commerce Department to help determine GDP. February’s result was adjusted down to 0.1 percent from 0.2 percent for leaving it as the only positive month in the first quarter. Orders fell 0.6 percent in January.  

The dollar slipped against the euro and the yen and versus a basket of currencies after the report. Treasury prices rose, with the benchmark 10 year note losing 5 basis point to 1.91 percent. The Dow gained 21.45 point to close at 18,080.14.

Joseph Trevisani

Chief Market Strategist

WorldWideMarkets Online Trading

Charts: Bloomberg

goods april 24

cap goods april 24

cap ship april 24

 
 
 

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