GER30 bouncing in longer-term downtrend
Although, the daily chart is showing signs of resilience, caution is still needed.
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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Although, the daily chart is showing signs of resilience, caution is still needed.
In this week's " Crypt Minute," we consider bitcoin and ethereum. Both are trading in their respective neutral areas, with ethereum showing slight relative weakness. In addition, we discuss the implication of the EU parliament defeating a motion to ban proof-of-work.
In today's "Morning Market Review," gold has dropped markedly so far this week. Capital looks to be rotating back into the risk markets as participants shop for bargains. The oil market has resistance above but also has ambiguous tidings to it.
FXCM's Dow Jones Industrial Average CFD, US30, is in the weak zone of its daily chart, between the lower blue and red bands. Therefore, it will be positive if it moves up into the neutral area, between the blue bands (green arrow). However, the hourly chart on the right needs to continue with its bullishness to make this progress. The hourly EMAs and stochastic have crossed bullishly (black ellipses). Still,…
Yesterday, the European Parliament's economic and monetary affairs committees defeated a motion to limit the use of the energy intensive proof-of-work.
Today's "Morning Market Review" considers oil's exhaustion, with markets challenging to read right now. Yields are increasing with market participants focusing on the Fed meeting tom. Risk markets have pulled back but so have the havens.
The US30 hourly is battling short-term overhead resistance. The daily chart will move into a more bullish area if it can beat it.
In today's "Morning Market Review," we discuss the sharp rise in yields. We also consider the moderation in gold and forward momentum in the GER30. Lastly, we examine the UKOil chart for possible direction flow. Market's are starting the week with a risk-off sentiment, hoping for progress in talk between Ukraine and Russia.
Bitcoin remains neutral on the daily and is battling a key level on the hourly.
Markets react to Putin comment that "[t]here are certain positive shifts, negotiators on our side tell me."
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