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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Past performance is not an indicator of future results The left chart shows the USDOLLAR daily time frame. It is in an area of strength - between the upper blue and upper red bands. We note that the daily RSI is trending toward overbought but is not there yet (green rectangle). The right chart shows the USDOLLAR hourly time frame. The buck reacted off of resistance at the R1 pivot.…
Past performance is not an indicator of future results Source: www.tradingview.com Salesforce released its Q2 earnings on 25 August. This marks an important inflection point (dashed blue vertical) on the company's price chart. For most of 2021, the stock moved sideways, as did its volume (red dashed horizontal). The lower chart shows the OBV indicator, which shoots upwards, following the Q2 earnings release, as the price takes off. Past performance…
Past performance is not an indicator of future results Source: www.tradingview.com In the monthly chart above we show the long term relative strength between the major financial markets post the pandemic lows (dashed blue vertical): 1. Stocks [represented by the S&P 500 (SPX)]. 2. Bonds [represented by the iShares 7-10 Treasury ETF (IEF)]. 3. Commodities [represented by the Thomson Reuters CRB Index (TRJEFFCRB)]. The top chart shows the relative strength…
Past performance is not an indicator of future results Bitcoin has charted a higher trough followed by a higher peak. This is the technical definition of an uptrend. Price is struggling at the resistance area around 64,000 (red shaded horizontal). To break through this level, bullish momentum must be maintained and the stochastic (blue line) helps in assessing if that momentum is present. The stochastic is a measure of price…
In this article: 1. University of Michigan consumer survey misses consensus. 2. US consumers are gloomy. 3. Inflation is rampant. 4. The Fed may have to pivot on policy. Friday's preliminary consumer sentiment reading from the Univesity of Michigan was sobering. US consumers are hurting. Last month's print was 71.7, and 72.5 was the consensus for Friday's number - it came in at a paltry 66.8. Faced with the prospects…
In this article: 1. Poor consumer sentiment hurts dollar. 2. The greenback finds support on shorter-term chart. 3. Longer-term chart looks bullish. 4. Shorter-term particpants need to sync with longer-term trend USDOLLAR Charts: Past performance is not an indicator of future results Further to Friday's article, the dollar weakened after an exceptionally poor preliminary University of Michigan Consumer Sentiment number. The print came in at 66.8 against a consensus of…
Past performance is not an indicator of future results The left chart shows the USDOLLAR daily. It sits in the area of strength (upper blue and upper red bands). The red Bollingers are expanding as dollar volatility increases. The right chart shows the hourly time frame. Current price action is at a confluence of support [central pivot (P) and price support (blue rectangle)]. We are looking to see if the…
Past performance is not an indicator of future results Previously we suggested that the NAS100 was in a good position for participants to start banking profits. Since then the index has pullback and the overbought condition has normalised. The left chart shows the NAS100 daily. It is trading on the border between the bullish and neutral areas. The hourly chart is on the right. A bullish EMA crossover and stochastic…
Past performance is not an indicator of future results Further to our previous analysis, gold's EMAs are pushing for a more bullish formation. EMAs are trend-following indicators and work under trend conditions. Consolidations tend to lead to whipsaw signals. The shorter-term green EMA has moved into a bullish position, and we are now looking for the mid-term orange EMA to cross above the longer-term red EMA (aqua ellipse). If this…
Past Performance is not an indicator of future results. The weekly EURUSD is examined on several levels: 1. Head and shoulders top (blue rectangles). The positively sloped aqua line shows the pattern's neckline. The vertical aqua line derives the pattern's target following its breakout. The target is 1.1134 and is academic - it may or may not be achieved. However, it does give the sense of bearishness associated with breakdown.…
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