Russell Shor

Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

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  • USDOLLAR Starts Week With Short-term Support Holding

    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…

  • USDOLLAR At Key Support On Hourly

    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…

  • NAS100 Excess Has Cleared On Daily; Possible Dip in Uptrend

    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…

  • Gold EMAs Surprisingly Look To Form Bullishly

    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…

  • EURUSD Weekly Analysis

    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.…

  • MSFT Is Overbought But Fundamentals Make Pullbacks Compelling

    The MSFT weekly chart is overbought (blue rectangle). At some stage, the RSI will need to normalise. However, weekly conditions are tricky because it may take weeks or even months before correcting. The last overbought condition took two months before clearing (blue verticals). The stochastic has also been showing tremendous strength and has been in the upper region since mid-June (red rectangle). Past Performance: Past Performance is not an indicator…

  • USDOLLAR Charts Higher Peak On Weekly Chart

    Past performance is not an indicator of future results Following our previous analysis, the USDOLLAR has built off of its reference low. This week's price action has charted the next higher peak in a series of higher troughs followed by higher peaks. The USDOLLAR is in a defined uptrend. Furthermore, the greenback's momentum has increased throughout 2021. This is evident by the shift up in gradient from the green trendline…

  • Nominal Yields Adjust Off CPI Print

    Yesterday, the US headline CPI beat the forecast of 5.8% y/y, coming in at 6.2%. The core CPI, which strips out volatile items such as energy and food also beat at 4.6% (4.3% forecast). As such, nominal yields are adjusting. Past performance is not an indicator of future results Source: www.tradingview.com The chart above shows the Heiken Ashi US10Y. Its yield is a nominal yield i.e. it has an inflation…

  • GBPUSD Hurt By GDP Miss

    Past performance is not an indicator of future results The GBPUSD has charted a lower peak followed by a lower trough on a weekly time frame. This is the definition of a downtrend and is considered cable's primary trend. Moreover, the weekly stochastic is rolling over (aqua ellipse); a movement towards the lower quintile (aqua arrow) will be off of GBPUSD weakness. Giving momentum to cable's primary price trend, UK…

  • UK100 Breakout As Wall Street Heavyweight Upgrades UK Shares

    Past performance is not an indicator of future results The UK100, FXCM's proxy for the FTSE 100, has consolidated since May (blue rectangle). However, the index has broken out. The weekly stochastic has moved into the upper quintile (aqua ellipse), and as long as it holds these levels, an underlying bullish momentum is likely to be present. This, as JPMorgan upgrades UK shares to "overweight." The bank maintains that current…

  • AAPL is a Value Creating Machine

    Past performance is not an indicator of future results It's been almost 2 weeks since Apple (AAPL) released its Q4 earnings (we note that AAPL's financial year-end is 29 September). The market was disappointed with the revenue number, which fell short of consensus. CEO Tim Cook attributed this to larger-than-expected supply constraints. Since then, the stock has traded sideways (blue rectangle). However, AAPL is fundamentally a very strong company. Its…

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