Fed aggression likely to strengthen US30’s retracement resistance
The US30 has retraced to its 61.8% level. It is looking formidable.
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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The US30 has retraced to its 61.8% level. It is looking formidable.
There is an excess demand for oil, which is likely to support price.
Bitcoin bounced off its support pivot. However, the crypto may be running out of steam.
Yesterday, the EURUSD ended the day lower. Bears threaten to follow through today.
The US 10 year yield is overbought. So it will be a boon for stocks if it pulls back in the short term.
EURUSD reacts positively to hawkish comments.
Our market specialists discuss inflation in this week's podcast, specifically PPI's influence on core CPI. The ECB confirms that its APP will conclude in Q3 and Elon Musk makes an unsolicited bid for Twitter. We also talk about USDJPY and its seven weeks of dramatic rise. This week has notable central bankers speaking at the spring meetings of the IMF, and it's an important week for earnings.
TSLA releases its Q1 earnings after market close today, 20 April 2022
The Twitter takeover drama may just be starting.
The PPI spike makes it difficult to call a top to core CPI.
Elon Musk makes offer to acquire Twitter.
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