Technical Analysis

16 October 2018
  • 09:52

    SP500 Forms a Consolidation Triangle


    US stock markets dropped on Monday, but the dip was bought and the SP500 index was 0.50 per cent stronger during the London session on Tuesday, trading near 2,760 USD.

    It seems as if the price is moving in a consolidation triangle pattern, which could be traded on both sides. Should an upside breakout occur, it could mean that the latest sell-off might be over. However, if the price breaks down from this triangle, the decline could resume.

    The upper line of this triangle is currently near 2,770 USD and if the price jumps above, we could see an upward move toward 2,800 USD.

    On the downside, the lower line of the triangle is near 2,750 USD and if this is broken, further decline from last week's lows of 2,710 USD could occur.

    Therefore, the near future of the SP500 index will most likely be decided when this triangle is broken on either side, with volatility expected to rise soon after.

    Disclaimer:

    Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.

  • 09:29

    AUDUSD: Aussie Fails at Resistance, Slides on Tuesday



    The Australian Dollar slipped on Tuesday and the AUDUSD pair was 0.20 per cent weaker during the London session. The pair traded at around 0.7110.

    The important resistance was at previous lows at 0.7150 and the pair remained at this level on Monday and then quickly reversed. This zone is still the major resistance and bears should defend it, because if the Aussie jumps beyond this level, we could see a bigger relief rally toward the long-term bearish trend line, which is currently at around 0.7220. From the intraday perspective, another selling zone might be near 0.7130, where previous highs are located.

    A more negative fact for bulls to consider, is that the pair has dropped below the short-term bullish trend line and that similar development has occurred on the RSI indicator too, suggesting further selling pressure may arise over the next few hours.

    The support could be located at the 0.71/0.7090 region and if broken, further deterioration toward the current cycle lows at 0.7050 might occur. As long as the pair trades below 0.7130, the short-term outlook seems bearish.

    Disclaimer:

    Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.

16 October 2018
Market Focus
  • Earnings Season in U.S.: Major Reports of the Week
  • Swiss Producer and Import Price Index fell in September 2018 by 0.2% compared with the previous month
  • Fed's Quarles Calls for Predictable, Gradual Policy Normalization
  • Trump Says He Doesn't Want to Fire the Fed Chair. It Isn't Clear If He Could
Quotes
Symbol Bid Ask Time
EURUSD
GBPUSD
XAUUSD
USDCHF
AUDUSD
NZDUSD
USDCAD
USDJPY
XAGUSD
XAGEUR

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.
37 International Awards
Have a question?

We are ready to assist you in every step of your trading experience
by providing 24/5 multilingual customer support.

Follow us

Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.

© 2011-2018 TeleTrade-DJ International Consulting Ltd

TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.

Please read our full Terms of Use.

To maximise our visitors' browsing experience, TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more.

TeleTrade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.

Choose your language/location