Index and Commodities Trading Week Beginning 18/03/2024
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- March 17, 2024
XJO WEEKLY Price structure: Remains Bullish The small weekly range indicates the market has moved into balance during the last week of the Quarter. Strong support is indicated between the 7000 and 7070 midpoint from the March impulsive range. Historically, October remains a bullish month, with a closing price over this current inside range (IPd)
READ MOREXJO WEEKLY Price structure: Overall, the view remains Bullish An expanding range to the downside with the test below the 7000 level finding buyers willing to lift the index back towards the 7070 midpoint level. Consolidation continues with the sellers unable to take the market lower and buyers not willing to take the market higher.
READ MOREXJO WEEKLY Price structure: Overall, the view remains Bullish A bullish reversal last week will set the stage for a further move higher; the first resistance level of 7370 may provide some initial resistance and will remain the first support level should the market move over this level. The second key observation is the current
READ MOREXJO WEEKLY Price structure: Overall view remains Bullish Last week saw a higher low and higher high than the previous week; however, the solid close below the 7200 level is a further bearish signal with extended consolidation remaining in the overall technical view. With the closing value in the lower 20% of the overall range,
READ MOREXJO WEEKLY Price structure: Overall view remains Bullish The small range mentioned last week has become the market consolidation point, with last week posting a strong range low to high and, importantly, closing over the 7200 level, a very bullish signal for further gains. Although the closing price remains midway in the consolidation range of
READ MOREXJO WEEKLY Price structure: Remains Bullish A solid trading range lower without moving over the important 7370 level has set up the retest of the trendline. This week, only a trading range and next Friday’s close back over the 7200 level would confirm a breakout higher. This type of Weekly range is often a precursor
READ MOREYour weekly outlook of technical patterns and structure delivered directly to your inbox. The Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: US Dollar Index Exploring Space North of Trendline Resistance Daily Timeframe – Following the release of Wednesday’s FOMC minutes, the US dollar was bid. This helped
READ MOREECB MEETINGS OF 2020 SHOULD REALLY BE CALLED ECB ‘STRATEGY REVIEWS’.
Newly minted Chair Christine Lagarde clearly wanted to give herself ‘room’ having ordered a review to consider all aspects of its mandates, targets specifically inflation, performance, operational tools, communication and policy setting, plus others. It clearly leaves the ECB in a holding pattern, but that holding pattern means its highly unconventional policies setting won’t change until the Strategy Review is complete.
ECB MEETINGS OF 2020 SHOULD REALLY BE CALLED ECB ‘STRATEGY REVIEWS’.
Newly minted Chair Christine Lagarde clearly wanted to give herself ‘room’ having ordered a review to consider all aspects of its mandates, targets specifically inflation, performance, operational tools, communication and policy setting, plus others. It clearly leaves the ECB in a holding pattern, but that holding pattern means its highly unconventional policies setting won’t change until the Strategy Review is complete.
ECB MEETINGS OF 2020 SHOULD REALLY BE CALLED ECB ‘STRATEGY REVIEWS’.
Newly minted Chair Christine Lagarde clearly wanted to give herself ‘room’ having ordered a review to consider all aspects of its mandates, targets specifically inflation, performance, operational tools, communication and policy setting, plus others. It clearly leaves the ECB in a holding pattern, but that holding pattern means its highly unconventional policies setting won’t change until the Strategy Review is complete.
ECB MEETINGS OF 2020 SHOULD REALLY BE CALLED ECB ‘STRATEGY REVIEWS’.
Newly minted Chair Christine Lagarde clearly wanted to give herself ‘room’ having ordered a review to consider all aspects of its mandates, targets specifically inflation, performance, operational tools, communication and policy setting, plus others. It clearly leaves the ECB in a holding pattern, but that holding pattern means its highly unconventional policies setting won’t change until the Strategy Review is complete.
ECB MEETINGS OF 2020 SHOULD REALLY BE CALLED ECB ‘STRATEGY REVIEWS’.
Newly minted Chair Christine Lagarde clearly wanted to give herself ‘room’ having ordered a review to consider all aspects of its mandates, targets specifically inflation, performance, operational tools, communication and policy setting, plus others. It clearly leaves the ECB in a holding pattern, but that holding pattern means its highly unconventional policies setting won’t change until the Strategy Review is complete.