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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In this article, we use two Bollinger bands and a stochastic as yardsticks to measure the progression of a bear market in the S&P 500. It is worth noting that the analysis will be subject to a time-period bias. We will be using the global financial crisis (GFC) to detail the measures and then apply them to current market conditions. Nevertheless, the inferences from the GFC will likely be helpful…
As Friday closed for trading, imposed sanctions seemed underwhelming. This tone changed on Saturday as some Russian Banks were excluded from SWIFT, and the Russian central bank was sanctioned. Geopolitical risks intensify as Russia continues its invasion of Ukraine. Wednesday and Thursday, Fed Chair Jerome Powell testifies before the House Financial Services and Senate Banking Committees. The RBA will announce its cash rate on Tuesday with no change expected, and…
Gold, being a haven and considered a store of value, maintains a bid as geopolitical tensions escalate following further sanctions on Russia.
Yesterday's price action sets up for potentially bullish "buy the dip" action today.
Immediate overhead resistance is currently keeping the dollar in check.
This escalation to military conflict has led to a risk-off sentiment in the financial markets.
The weekly charts below show the: * US02-Yr Treasury (top). * US10-Yr Treasury (middle). * 10/02 Yield curve (bottom). The spread between the 10/02 has declined to 0.371%. I.e., the yield curve has flattened remarkably since the middle of last year (red rectangle). The reason is the sharp increase in the US02-Yr (blue rectangle) vs. the shallower incline of the US10-Yr note (green rectangle). The steepness of the shorter maturity…
Oil Technicals Oil prices have appreciated as the tensions between Russia and Ukraine have intensified. The chart on the left below shows the USOil weekly heikin ashi chart. These candles are trend-following indicators and are trading in USOil's strength zone, between the upper blue and red bands. I.e., the two trend-following systems are reinforcing one another. The weekly RSI is within regular readings, implying that there is still potential scope…
Oil Technicals Oil prices have appreciated as the tensions between Russia and Ukraine have intensified. The chart on the left below shows the USOil weekly heikin ashi chart. These candles are trend-following indicators and are trading in USOil's strength zone, between the upper blue and red bands. I.e., the two trend-following systems are reinforcing one another. The weekly RSI is within regular readings, implying that there is still potential scope…
USDOLLAR Weekly Trend The chart below shows FXCM's dollar basket, USDOLLAR. First, price indicates a series of higher troughs followed by higher peaks, which is the classical definition of an uptrend. Next, we assess if the candle ending 11 Feb is the next higher trough in the series (HT?). To this end, last week's candle (green arrow) did not close above the aqua horizontal, which is our requirement for a…
Today's NFP trade ended with a 6.9 pip loss. However, the SL was reduced from 20 pips of risk to 6.9 pips. After the initial kick, volatility declined for a slow grind into the conclusion.
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