Indices

The German index is mixed today, following a two-week rebound, having achieved its best performance of the year, during the last one

Short-term traders need to align with the daily participants for the index to appreciate further.

US30 moves into bullish area, but caution is suggested given market headwinds.

Although, the daily chart is showing signs of resilience, caution is still needed.

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,…

The US30 hourly is battling short-term overhead resistance. The daily chart will move into a more bullish area if it can beat it.

The Dow Jones Industrial Average (DJI) is looking decisively bearish ahead of its cash open. The chart below shows the US30, FXCM's CFD for the DJI. Its trend-following indicators have crossed bearishly (black ellipse), with the shorter green EMA below the slower orange EMA. Of concern, the stochastic is below 20 (blue arrow). This area is indicative of solid momentum, albeit to the downside. The longer the stochastic remains at…

The German index made a very poor start to the week, but has been recovering since Tuesday, as markets continue to monitor the situation in Ukraine

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.

The fact that the bears have not been able to take the US30 lower, given the invasion of Ukraine, and the emotion of fear associated with a risk-off sentiment, is intriguing. As such, we continue to monitor for bullish follow-through. A swing low will have charted if the price does take out last week's high. This appreciation would be considered a bullish development. However, caution will still be the order…

Investors continue to follow the Russia-Ukraine conflict and brace for Mr Powell’s testimony in Congress later today