Cookies help us deliver our services. By using our services, you agree to our use of cookies.
Learn more Got it
Dakar 2017
Home / Analytics / Forex analysis & forecasts / Market Overview / Morning Call. Market Overview for 08.08.2016
Ask a question
Did not find the information you need? Ask your questions and get answers online!
Enter chat
Or enter your phone number in the form below and we will call you right away.
Call back




Morning Call. Market Overview for 08.08.2016

08.08.2016

The Big Picture:

 
The pre-election rally on US Indices continues. Since June of this year, US Markets have been trending positive. Friday´s better than expected US Data continuing this trend. The Nasdaq 100 is trading 20 points shy of its all-time high of 4816.50 from the 31st of March 2000. The Dax is profiting from the US markets positive trend. In spite of negative data from Allianz the DAX was able to move higher. The next important resistance in the DAX is at 10 500 . Should this line get taken, we see further potential to the upside. The USD $ gained against the Euro on the positive US data. In the big picture it is trading in a sideways trend between 1,0822 and 1,1429. The USD against the Yen formed a tripple bottom. The biggest support coming in at 100,31. Gold has, in the short term, formed a double top. Oil is trading a short term technical reaction.

Pre-Market direction of US Futures (07.00 CET)


The S&P is up 0.19%
 
DAX

The DAX has returned to its upward trend.Main resistance is seen at 10,500. A breach of this level will see  more potential to the upside.



 

Euro / USD


The Euro is trading sideways in a large trend. Support is at 1,0822, resistance at 1,1429.
 


 

JPY / USD


The USD has turned positive against the Yen. Biggest support will be found at 100,31.
 


 

Gold


Gold is trending upwards. The next major resistance is at 1375.
 

 
 

WTI Oil


Oil is trading a technical bounce. The midterm downward trend is intact.




Overnight 

 
Prices profited due to strong US payrolls on Friday. 
Asian markets are following positive US markets. The Nikkei 225 is trading up 2.1%. The weak Yen against the USD underpinning the up move. Toyota, gaining 3.1%. The USD is trading slightly weaker against the Euro this morning, Gold and Oil, slightly positive.

Today´s numbers (CET)

 
08:00: German Industrial Production.
 

Company news :

 
USA: Quarterly results from Allergen, amongst others


RoboForex Analytical Department
 

Dear reader!

Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.