March 14, 2019Market review and metrics for Forex, Oil, S&P500 & Yields.

Pivot points, Support, Resistance & Fibonacci Reversal levels; Chart of Interest – <GBPUSD>. {updated 5PM EST }

FX Performance (Strongest to Weakest)
Strongest Weakest
USD CHF EUR CAD AUD NZD JPY GBP
Best Performer Worst Performer
EURGBP GBPUSD
  • Market performance (DAILY)

    Market Performance (click to enlarge)

Market Comments
Forex US Dollar was the best performer while the British Pound under performed the rest of its major brethren. Members of Parliament completed the sequence of votes and they went according to market expectations. Now its up to the EU to grant the request for delay and, if this is granted, then the focus returns to the MP’s to decide as to how they will BREXIT.
S&P500  S&P500 index ended the session marginally lower on uncertainty over the depth of progress in US – China trade deal negotiations.  Also the 4 day rally propelled the market to  upper end of the 2800-20 zone, a level that has earned the moniker of “strong resistance”, and investors might have pared exposure a bit as they await fresh stimuli.
Oil & Yields
 Crude oil was up but gains were muted as the spectre of global economic slowdown looms.
  • Chart of Interest – GBPUSD (Daily) 

    (click to enlarge)

  • Pivot Points & Fibonacci Retracement Levels
    A technical analysis indicator used to try and determine the short-term trend of the market. The pivot point is calculated from the previous trading periods’ price action. If the market on the following period trades above the pivot point it is thought to be exhibiting bullish sentiment, whereas trading below the pivot point is seen as bearish. The Fibonacci retracement is the potential reversal of a financial instrument’s original move in price.

    Market Metrics (click to enlarge)