Russell Shor

Russell Shor

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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  • NAS100 Top-Down Analysis – 01 Dec ’21

    Russell Shor Written by Russell Shor
    Indices

    Weekly Chart The NAS100 weekly chart retains its bullish bias. The shorter-term green moving average is above the mid-term orange moving average, and the mid-term orange moving average is above the longer-term red moving average. This is a bullish formation. Since shortly after the pandemic lows, the index stochastic has also oscillated around its 70th percentile (aqua rectangle), suggesting the presence of underlying bullish momentum. This matched with index appreciation…

  • USDOLLAR Short-Term Analysis – 01 Dec ’21

    Russell Shor Written by Russell Shor
    Forex

    Past Performance: Past Performance is not an indicator of future results. The left chart shows the USDOLLAR daily timeframe. The candlesticks have pulled back but remain in the bullish area, between the upper blue and upper red bands. Yesterday, Fed Chair Powell testified in front of the Banking Senate Committee. The Fed has pivoted. Concerning the word "transitory" in describing inflation, Mr. Powell said that it's "probably a good time…

  • GER30 Weekly Price Action Opens Possibility For Swing Low

    Russell Shor Written by Russell Shor
    Indices

    Weekly Chart Further to our previous article, the GER30 charted a lower low this week at support (blue shaded horizontal). Since hitting this level, bulls have attempted to push the price higher, and the current action is off the low for the week. This has set up a potential swing low. However, for this to take place, short-term candles will need to chart a higher low and close above this…

  • USDOLLAR Top Down Analysis – 30 Nov

    Russell Shor Written by Russell Shor
    Forex

    Weekly Timeframe The below shows the weekly timeframe of FXCM's USDOLLAR basket. We have applied a triple moving average system to assess its trend. The green shorter-term moving average is above the mid-term orange moving average, and the mid-term orange moving average is above the longer red-term moving average. This is a bullish formation. The weekly stochastic is also above 80 (aqua arrow), which suggests underlying bullish momentum. Past Performance:…

  • SPX500 Remains in Long-Term Uptrend

    Russell Shor Written by Russell Shor
    Indices

    Weekly Context Below we have added a triple moving average system to the SPX500 weekly chart. Despite the decline last week, the shorter-term green moving average is above the mid-term orange moving average, and the mid-term orange moving average is above the longer-term red moving average. Last week's pullback took place within this longer-term bullish formation. The weekly stochastic is above 80 and suggests an underlying bullish momentum (aqua arrow).…

  • Gold Daily Lacking Trend Despite New Covid Variant

    Russell Shor Written by Russell Shor
    Commodities

    The XAUUSD daily chart is not trending despite the emergence of the omicron covid variant. The news shook risk markets on Friday, but gold's price action was not able to capitalise. As the risk-off sentiment took hold, bulls pushed gold's price up. However, at the apex, they lost control to the bears, and the price closed well off of Friday's high (aqua arrow). Moreover, we have added a triple moving…

  • Last Week’s GER30 Sell Down Makes For Awkward Weekly Chart

    Russell Shor Written by Russell Shor
    Indices

    GER30 Big Weekly Drop Last week the GER30, FXCM's proxy for the DAX30, dropped 6.4% from open to close. The coronavirus spread in Europe initially rattled the market. However, it was confirmation of a new strain that was the catalyst for the decline. First referred to as "Nu" but amended to "Omicron" by the WHO, research is currently being conducted on the new strain, with evidence suggesting a risk of…

  • USDOLLAR Short-Term Contrarian View

    Russell Shor Written by Russell Shor
    Forex

    Past Performance: Past Performance is not an indicator of future results. The left chart shows the USDOLLAR daily. Its price is in the bullish area, between the upper blue and upper red bands. The right side shows the H1 scale. The greenback has pulled back today. The reaction has been volatile, with the USDOLLAR retracing to the S3 pivot. The reaction is the market reprincing the ability of the Fed…

  • “Nu” Covid Variant Leads to Risk-Off Sentiment

    Russell Shor Written by Russell Shor
    Global Markets

    The GER30 gapped down on open today, as a risk-off sentiment prevails. The catalyst is covid-19 developments. In Europe, countries are starting to reintroduce restrictions to deal with rising infections. On Wednesday, Italy announced new Covid measures, and Germany narrowly avoided another lockdown, preferring to see if stricter Covid passport rules help alleviate the situation. Moreover, concerns over a new Covid variant have added to the fears. The B.1.1.529, or…

  • EURUSD Primary Trend Analysis

    Russell Shor Written by Russell Shor
    Forex

    The Primary Trend The EURUSD monthly below (chart 1) has charted a lower peak followed by a lower trough - the classical definition of a downtrend. Due to the longer time scale, the primary trend for EURUSD is down. Until there is a change in the pair's primary trend, impulse moves down will be stronger than corrective moves up on the lower time frames. The stochastic is heading towards the…

  • Yields Jump On Astounding Initial Jobless Claims Number

    Russell Shor Written by Russell Shor
    Global Markets

    US10Y At Neckline Source: www.tradingview.com Past Performance: Past Performance is not an indicator of future results. The US10-Yr Treasury yield is up sharply for the week, currently trading at 1.68%. The nominal rate is now trading at the neckline of the inverse head and shoulders pattern. A break above the neckline will effectively complete the reversal pattern and signal that the market is pricing in higher real yields, inflation, or…

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