DAX 30
No surprises from the ECB yesterday as all key rates were kept unchanged and bond purchases will reduce to ‘just’ €60 billion monthly in April, as agreed late last year.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
FTSE 100
A decent hammer candle yesterday means prices should hold roughly between 7300 and 7400 today as we watch for US payroll data this afternoon.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
S&P 500
Holding at the 2360 area and thereby managing to keep momentum bullish.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
Clinging rather desperately to Fibonacci 76.4 per cent support. PM May in Brussels for what is expected to be her last summit there before Brexit is triggered.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
EURO/US DOLLAR
Picking up to the higher levels of the last three weeks so that the MACD turns a tad more bullish.
SHORT TERM TRADER: Long at 1.0595; stop below 1.0500. Target 1.0750.
POSITION TAKER: Square.
GOLD
Dipping below the psychological 1200 level this morning as the MACD becomes more bearish. Watch today’s close for a potential medium and long term topping candle pattern.
SHORT TERM TRADER: Short; stop above 1220 with a second target at 1185.
POSITION TAKER: Will sell on a weekly close below 1220 and again below 1200.
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.
