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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FXCM's dollar basket, the USDOLLAR, has charted another higher trough followed by a higher peak in its series. This pattern is a continuation of the greenback's uptrend. We also note that the weekly stochastic has turned up – we are interested in seeing if it hits the 80+ region and holds (green rectangle). The underlying momentum will suggest further upside for the buck if it does. This strength comes before…
In today's "Morning Market Review", we ponder the question of runaway vs exhaustive gaps. The former has dire consequences regarding stagflation. We also consider if there is value in the GER30 at current levels and use the MACD histogram to make inferences regarding its recent decline.
Bitcoin fades yesterday's strength.
In today's "Morning Market Review", we start by looking at the pullback in gold. We also discuss the possibility of an exhaustion gap in oil and the current bounce in risk markets. Finally, we end off the webinar by looking at bitcoin.
Stagflation describes an economy experiencing higher inflation pressures at the same time that growth is declining.
Gold has pulled back today, giving the weekly candle an inverted hammer appearance. The weekly candle is still to open, but the selling tail does coincide with an overbought condition.
In today's "Morning Market Review," we explore oil's reaction to President Biden's announcement that the US will ban imports of Russian oil. We also consider the jump in the GER30 during a down-trending market.
The hourly FXCM CFD for the Dow Jones Industrial Average (US30) contends with the overhead resistance confluence. The index is near 33,025, with the central pivot overlapping price resistance horizontal. The hourly trend following indicators have crossed positive, and the stochastic is making its way towards the 80+ areas. If the stochastic can maintain the upper quintile, an underlying bullish momentum may help lift the index.
In this "Morning Market Review," we discuss the possibilities around stagflation and gold. Then, we consider FXCM's DAX CFD, GER30. Markets are oversold, but oscillators may stay at extremes for longer than usual, given the solid risk-off sentiment.
Oil gapped up on open, with Brent crude reaching $130.67 and WTI's high at $127.53. The price jumps reflect fears of supply disruptions due to the Russian invasion of Ukraine, with the possibility of a ban on Russian oil and natural gas now being considered.
The inverted yield curve is a cause for concern. Therefore, we offer a possible scenario in which it may steepen.
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