Nasdaq Points Up; USDTRY Getting Ready For More Weakness

Intermediate

NASDAQ should remain in uptrend, because we don’t see a completed five-wave cycle yet, so current three-wave decline can be only part of a corrective wave iv that can find support ideally around previous wave iii) swing high and 7600 – 7595 levels and from where may see a continuation higher for wave v of v) towards 7800 area. Invalidation level remains at 7550.

NASDAQ, 30Min

nasdaq

USDTRY might be ready for FOMC after that nice bearish setup from the highs. Watch out for a drop back to the lows, which should be made by five waves, but keep in mind that bears can be confirmed only below 5.75 region. If from any reason price goes back above 5.92 invalidation level, then we will have to adjust the view.

USDTRY, 1h

usdtry

Comments on this analysis

Your email address will not be published. Required fields are marked *


Latest News

S&P 500
Stocks firm after the Fed Meeting (S&P500)

The Fed cut rates as many forecasters had expected on Wednesday 18th September by 0.25%. However, they also signalled that they are now likely on hold, with another rate cut probably unlikely in 2019. Global equity averages initially turned lower, but then US markets staged strong rebounds into the close on Wednesday, though have drifted … Continued

S&P 500
S&P500, German DAX and USDNOK Intra-day Updates

E-mini SP500 futures are slightly turning down at the start of the US sessions, but may not be nothing exciting ahead of the FOMC decisions when real bears may show up if our technical view is correct. German Dax can be in similar path. S&P500, 1h German DAX, 1h USDNOK remains trapped in consolidation; looking … Continued

USDJPY Chart
USDJPY stays strong into the Fed Meeting

USDJPY keeps plugging higher, despite the modest shift back towards a risk off environment this week in the wake of the weekend attacks in the Middle East and the surge (and subsequent setback) in the oil price. However, this has NOT seen the Japanese Yen as the main, go to safe haven, with the US … Continued

EURUSD Monthly Chart 2019-09-17
EURUSD and USDCAD spot recap – 2019-09-17

EURUSD holding 1.0985/80 allows a recovery to 1.1020 & strong resistance at 1.1040/50. Try shorts with stops above 1.1065. Next target & strong resistance at 1.1090/99, shorts need stops above 1.1115. A break higher is an important buy signal targeting 1.1130/35 & 1.1165/70 with strong resistance at 1.1180/90. A break below 1.0980 targets 1.0970/60 & … Continued


Forex Brokers in your location