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Home / Analytics / Forex analysis & forecasts / Market Overview / US Open. Market Overview for 26.10.2016
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US Open. Market Overview for 26.10.2016

26.10.2016

Pre-Market

The S&P 500 is down 0.36% in premarket trading. German stocks have weakened markedly since the beginning of the week. The DAX index loses 0.77% today. Bayer is amongst the losing stocks, despite reporting very good quarterly numbers. In this quarter profit rose by 6 % to 2.7 billion Euro, Analysts had expected 2.5 Billion on average. The Monsanto takeover is still viewed negatively. Monsanto reported a profit drop of 42% in the past year. The DAX was not able to maintain its year high from yesterday, viewed technically this can be viewed as a false break out, which is to be interpreted negatively. Premarket Apple trades ca. 2 % lower after yesterday´s numbers. Gold is 0.19% softer, whilst WTI Oil loses 1.6%. The USD loses against the Euro and gains slightly to the Yen. We expect a weaker open on Wall Street.

S&P 500

The S&P 500 is in a sideways trend. Resistance is seen at 2200, support at 2115.




Nasdaq 100

The Nasdaq 100 is in a sideways trend. Resistance is seen at 4900, support at 4800.




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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.