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OPINION

Fed rise ‘fairly soon’

Fed rise ‘fairly soon’
February 23, 2017
Fed rise ‘fairly soon’

DAX 30

Making little headway at the psychological 12000 even as the 2-year Schatz yield sets a new record low of minus 92 basis points.

SHORT TERM TRADER: Square.

POSITION TAKER: Square.

FTSE 100

Such tiny little daily candles but yesterday was a shooting star – another small sign of instability close to the record high.

SHORT TERM TRADER: Small short at 7265; stop above 7355. Target 6950.

POSITION TAKER: Square.

S&P 500

Consolidating at the record high and horribly overbought on the RSI.

SHORT TERM TRADER: Square.

POSITION TAKER: Square.

BRITISH POUND/US DOLLAR

Move along now as there’s nothing to see here.

SHORT TERM TRADER: Small long at 1.2535; stop below 1.2400. Target 1.2730.

POSITION TAKER: Square.

EURO/US DOLLAR

Holding against support at 1.0500 with a small doji candle. In theory it ought to recover from here. Keep an eye on coverage of the upcoming Dutch election.

SHORT TERM TRADER: Small long at 1.0625; stop below 1.0500. Target 1.0730/1.0800.

POSITION TAKER: Square.

GOLD

Zero momentum and prices are going nowhere.

SHORT TERM TRADER: Small short at 1222 and getting very fed up holding this boring position; stop above 1255. Target 1180.

POSITION TAKER: Square.

MORE FROM NICOLE ELLIOTT...

Nicole Elliott is a longstanding Member of the Society of Technical Analysts and provides the IC's trading coverage. She is regularly interviewed and quoted by the financial media, is a conference speaker and author of several books on charting.

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