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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  • SPX500 Remains in Long-Term Uptrend

    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

    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

    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

    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

    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

    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

    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…

  • NAS100 Bears Lost Control To Bulls At Yesterday’s Low

    Daily Chart Past Performance: Past Performance is not an indicator of future results. The NAS100's momentum has declined, as per the slow stochastic slipping below 80 (blue rectangle). This, as the index closed lower over the last two consecutive days. However, we do note that yesterday's candle closed well off of its low. I.e., the bears lost control at the low point as bulls took over. Today's price action will…

  • UKOil Top-Down Analysis

    Weekly Chart Past Performance: Past Performance is not an indicator of future results. The chart above is FXCM's proxy for Brent, UKOil, on a weekly scale. From the mid-August low to the mid-October high, UKOil appreciated around 32%. We have used this impulse move for our reference trough (T) and reference peak (P). Since reaching P, UKOil has retraced to the 38.2% Fibonacci level (black horizontal). This level is currently…

  • Economics 101 And The Turkish Lira

    The Turkish lira has capitulated over the last two months. In this article, we will consider a basic monetary economic model to explain the USDTRY's movements over this time frame. The Quantity Theory of Money One of the earliest models of monetary economics is the quantity theory of money (QTM). It can be traced back to Copernicus in the 16th century but was popularised by Friedman and Schwartz in the…

  • Meta Fundamentals Have Improved But Look Stretched at Current Price

    Facebook announced on 28 October that it had changed its name to Meta Platforms. Please note that the stock ticker will change from FB to MVRS, effective 1 December. The company is currently trading at a PE of 24.4. This is lower than the Nasdaq multiple of 36.08. Past Performance: Past Performance is not an indicator of future results. The histogram denotes the company's ROIC (calculated using NOPAT, net PP&E…

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