Select the account you'd like to open


Chart Signals - Weds Oct 21

Chart Signals - Weds Oct 21

Asia Pacific Indices

Australia 200 is bouncing around 5,245 a Fibonacci level trading between 5,210 and 5,260 in a normal consolidation. RSI holding above 50 indicates underlying upward momentum intact.

Japan 225 is holding steady near 18,210 a Fibonacci level, trading between 18,150 and 18,270 with RSI sitting on 50 confirming sideways momentum.

Hong Kong 43 is hovering around 23,000 trading between 22,840 and 23,200 while digesting an overbought RSI that developed toward the end of the recent rally.

Hong Kong China H is bouncing around between 10,540 and 10,725 consolidating recent gains above 10,390 a Fibonacci level. Next upside resistance near the 11,000 round number.

India 50 remains in an uptrend but appears to be pausing to consolidate in the 8,200 to 8,280 range having moved up from 8,080 with next resistance near 8,325 the bottom of a gap. RSI confirms a pause underway within an ongoing uptrend.  

North American and European Indices

US 30 has levelled off in the 17,150 to 17,270 range trading around 17,195 a 62% retracement of its previous retreat. RSI suggests a pause in the current uptrend.

US NDAQ 100 is bouncing around between 4,420 and 4,460 below its September high having moved with next resistance possible near the 4,500 round number and next support near 4,400.

US SPX 500 is consolidating in the 2,025 to 2,040 range between 2,015 Fibonacci support and 2,040 resistance. RSI flattening out suggests a normal pause underway to digest recent gains.

Germany 30 is holding steady trading between 10,080 and 10,190 around its 50-day average near 10,100. RSI also indicates momentum levelling off and going sideways while the market consolidates recent gains.

UK 100 is drifting downward within a 6,250 to 6,450 sideways trading range, currently trading between 6,320 and 6,380.  

Commodities Gold has found support at a higher low near $1,170 keeping its emerging uptrend intact while it consolidates its recent rally. Upside resistance possible near $1,180 then $1,188 a Fibonacci level and recent peak followed by $1,200 on a breakout.

Crude Oil WTI has slipped back under $46.60 into the $45.40 to $46.40 range with next potential support near the $45.00 round number. RSI sliding under 50 suggests momentum turning downward.  

FX US Dollar Index remains in a downtrend, unable to break through 95.00 resistance, setting a lower high on trend. Support in place near 94.60 then 94.00. Falling RSI confirms downward momentum increasing.

USDCAD has resumed its downtrend, falling back under $1.3000 and retesting it as new resistance on its way toward $1.2970 after topping out near $1.3045. Next downside support possible near $1.2935 then $1.2900.

NZDUSD continues to drop back in a steep but normal trading correction of a rally that had left the pair overbought on the RSI. It has fallen from $0.6840 toward $67.30 a recent breakout point that has held as new support so far. A breakdown would open the door to a potential retest of $0.6620.

AUDUSD has started to rebound up off of $0.7240, where support has emerged at a higher level. Initial resistance possible near $0.7300 then $0.7390. RSI falling back toward 50 suggests a downshift in momentum to sideways may be underway.

USDJPY is bumping up against 120.00 retesting a broken round number and former support line as new resistance, so far confirming the recent breakdown and moving average death cross. RSI testing 50 where remaining below would confirm but a breakout would signal an upturn.

EURUSD remains in an uptrend having confirmed higher support with a successful retest of $1.1300 on the pair and 50 on the RSI. The pair has rallied back up toward $1.1380 as it continues to form an ascending triangle below $1.1475.

EURJPY has climbed back into the upper half of a $133.00 to $137.20 sideways trading range, rallying up from $135.20 toward 136.20. RSI lifting off 50 suggests momentum turning upward.

CADJPY has resumed its advance after the election, rallying up off of 91.50 toward 92.60 before settling back toward 92.20. next upside resistance appears near 93.80 an old support level. RSI holding 50 signals underlying uptrend intact.

USDSGD is on a technical rebound, retaking $1.3890 to call off a recent breakdown, but it really needs to clear $1.4000 to suggest this is any more than a trading bounce with initial resistance near $1.3930. RSI suggests downward pressure levelling off but no upturn yet.  

Sign up for market update emails