{"id":60394,"date":"2012-08-09T14:58:16","date_gmt":"2012-08-09T04:58:16","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2012\/08\/09\/sp500-stalls-near-1400\/"},"modified":"2012-08-09T14:58:16","modified_gmt":"2012-08-09T04:58:16","slug":"sp500-stalls-near-1400","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2012\/08\/09\/sp500-stalls-near-1400\/","title":{"rendered":"S&P500 Stalls Near 1400"},"content":{"rendered":"

\n\tS&P 500 Stalls Near 1400 Figure As US Dollar Flirts With Key Support<\/strong><\/p>\n

\n\tBy Ilya<\/span> Spivak<\/span>, Currency Strategist, FXCM<\/span><\/p>\n

\n\tTHE TAKEAWAY: The US Dollar is flirting with trend-defining support as the S&P 500 stalls near the 1400 figure, with a turn lower for the stock index likely to boost the greenback.<\/strong><\/p>\n

\n\t
\n\tS&P 500<\/strong> – Prices are stalling having narrowly edged above the 1400 figure to seemingly expose the next upside hurdle at the top of a rising channel set from early June, now at 1415.20. A Hanging Man candlestick warns of ebbing upside momentum and hints bullish conviction may be fleeting. Near-term support lines up at 1392.10, with a break below that exposing a falling trend line established from the March 27 high now at 1385.70.<\/p>\n

\n\t\"\"<\/p>\n

\n\tCRUDE OIL<\/strong> – Prices are testing resistance in the 93.21-90 area marked by the July 19 high and the 50% Fibonacci retracement<\/span>. A break higher exposes the 61.8% Fib at 97.82. Near-term support stands at the psychologically significant 90.00 figure and is reinforced by the 38.2% retracement<\/span> at 89.87. A push below that targets a rising trend line now at 88.01.<\/p>\n

\n\t\"\"<\/p>\n

\n\tGOLD<\/strong> – Prices are testing resistance in the 1620.45-35.70 congestion area after bouncing from support at a rising trend line support set from late June, with a Shooting Star candlestick followed by a Doji<\/span> pointing to fading bullish conviction and hinting a pullback may be ahead. A break to the upside initially exposes 1671.49. Trend line supports line up at 1590.14 and 1572.56.<\/p>\n

\n\t\"\"<\/p>\n

\n\tUS DOLLAR<\/strong> – Prices are testing support at a major rising trend line established from late July 2011, a barrier reinforced by the 76.4% Fibonacci expansion (9995) and the bottom of a falling channel set from early June (9973). A break beyond the latter boundary exposes the 100% expansion at 9925. Near term resistance is at 10038, the 61.8% Fib, with a push above that targeting the channelmidline<\/span> (now at 10074).<\/p>\n

\n\t\"\"<\/p>\n

\tThe views expressed are not FNArena's<\/span> (see our disclaimer).<\/p>\n

\n\tFor real time news and analysis, please visit http:\/\/www.dailyfx.com\/real_time_news<\/p>\n

\n\tDailyFX<\/span> provides forex<\/span> news on the economic reports and political events that influence the currency market. Learn currency trading with a free practice account and charts from FXCM<\/span>.<\/p>\n

\n\tReprinted with permission from the publisher. The original story can be read here:http:\/\/www.dailyfx.com\/forex<\/span>\/technical\/article\/cross-market_technical_update\/2012\/08\/09\/SP_500_Stalls_Near_1400_Figure_as_US_Dollar_Flirts_with_Key_Support.html<\/a><\/p>\n

\n\twww.dailyfx.com<\/p>\n

\n\tDisclaimer<\/strong><\/em><\/p>\n

\n\tForex<\/span> Capital Markets is headquartered at Financial Square 32 Old Slip, 10th<\/span> Floor, New York, NY 10005 USA.<\/u><\/em><\/p>\n

\n\tTrading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before you decide to trade the foreign exchange products offered by Forex<\/span> Capital Markets, LLC, Forex<\/span> Capital Markets Limited, inclusive of all EU branches, FXCM<\/span> Asia Limited, or FXCM<\/span> Australia Limited, any affiliates of aforementioned firms, or other firms under the FXCM<\/span> group of companies [collectively “FXCM<\/span> Group”] you should carefully consider your objectives, financial situation, needs and level of experience. If you decide to trade foreign exchange products offered by FXCM<\/span> Australia Limited you must read and understand the Financial Services Guide and the Product Disclosure Statement. FXCM<\/span> Group may provide general market information and commentary which is not intended to be investment advice and the content of this email must not be construed as personal advice. By trading, you could sustain a total loss of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading in foreign exchange products. Foreign exchange products are only suitable for those customers who fully understand the market risk. FXCM<\/span> recommends you seek advice from a separate financial advisor.<\/em><\/p>\n

\n\tFXCM<\/span> Group assumes no liability for errors, inaccuracies or omissions in these materials and does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXCM<\/span> Group shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. This email is not a solicitation to buy or sell currency. All information contained in this e-mail is strictly confidential and is only intended for use by the recipient. All e-mail sent to or from this address will be received by the FXCM<\/span> corporate e-mail system and is subject to archival and review by someone other than the recipient.”<\/em><\/p>\n

\n\tTechnical limitations<\/strong><\/p>\n

\n\tIf you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we apologise<\/span>, but technical limitations are to blame.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Market analysts at FXCM note the S&P rally has stalled as the US dollar trades around a key support level. They suggest a turn lower for equities could boost the currency.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[29,24,22,26],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/60394"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=60394"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/60394\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=60394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=60394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=60394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}