- S&P 500 becomes even more extended in week 2; economic calendar light in week ahead
- DAX struggles on euro strength with breakthrough in German coalition talks
- FTSE remains persistently strong; CPI due out on Tuesday
Start boosting your knowledge today with DailyFX Trading Guides & Forecasts
Looking ahead to next week on the fundamental-front the docket is absent of any ‘high’ impact data events until Friday when UofM Sentiment is due out. For a list of all data releases, see the economic calendar. To start the week, the market is will be closed on Monday in observance of Martin Luther King Jr. Day. General risk trends and earnings season will likely dominate sentiment.
The S&P 500 concluded the second week of the year on a strong note, pushing the market further into record territory. It’s a difficult spot for those on the sideline right now, as fresh long entries are at risk of a pullback, but initiating shorts holds even less appeal. Until we see how the market reacts to the recent run-up, risk/reward in either direction isn’t favorable. The top of the recently breached channel is viewed as the first source of support.
S&P 500: Daily
Looking ahead to next week, just as is the case in most parts of the globe, key economic data will be lacking. Last week, there was a breakthrough on the development of a German coalition, but strength from the euro was a negative weighing on equities. The euro will continue to be a focus as it probes three-year highs and puts pressure on European stock markets.
The DAX was mostly negative throughout the week after breaking above December’s high on Monday. The pullback was fairly aggressive, but nothing which is viewed at this time as derailing the German index. Strong visible support is lacking at the moment. For starters focus will be on the Thursday low at 13151. Resistance may come in at a developing trend-line off the November high, but the more important level is last week’s high at 13425.
Struggling with confidence right now? You’re not alone. See this guide for ideas on how to Build Confidence in Trading.
Looking ahead to next week, the only ‘high’ impact data event on the calendar is CPI on Tuesday. ‘Brexit’ news is always a potential source of volatility, but generally risk trends are favorable. For the full release of data, check out the economic calendar.
The FTSE continued its impressive surge last week and is closing in on the projected target zone of 7850/900 based on the size of the range which dominated the second-half of 2017. Similar to the S&P 500, we have reached a point where both sides of the tape don’t hold great appeal, as the market becomes increasingly likely to experience a set-back, but yet still shows no true signs of letting up. Waiting for a better set-up looks to be the prudent course to take for now.
—Written by Paul Robinson, Market Analyst
To receive Paul’s analysis directly via email, please SIGN UP HERE
You can follow Paul on Twitter at@PaulRobinsonFX
online futures trading ,forex trading australia ,forex trading uk ,forex daytrading ,online foreign exchange trading ,forex australia ,forex online broker ,foreign currency exchange trading ,currency stock trading ,trading options ,trade currency online ,cfd trading ,online forex trading platform ,forex world money exchange ,forex t ,currency trading account ,forex trading tools ,fx currency trading ,forex handel ,online currency trading ,forex trading software ,forex stock trading ,online trading platforms ,currency trading charts ,forex cfd ,best online stock trading ,trading platforms ,forex trading brokers ,foreign currency trader ,broker forex trading ,automatic forex trading ,forex trading how to ,online stock trading ,stock market trading ,currency trader ,for ex trading ,fx trading ,trading in currency ,best online trading ,online broker ,online currency trader ,forex trend trading ,best forex trading platform ,currency trading forex ,trading stocks ,best forex trading software ,best forex trader ,فوركس كوم ,forex trading online ,option trading software ,day trading online ,day trading software ,metatrader broker ,forex on line ,forex trading services ,start trading forex ,forex broker ,trading currency ,forex market trading ,forex demo trading ,forex trading platforms ,currency trading online ,stock trading software ,forex introducing broker ,cfd ,cfd forex ,online trading software ,trading online ,trading on line ,fxtrading ,forex swing trading ,i forex trading ,traders forex ,stock trading ,forex trading account ,make money forex ,trade forex online ,auto forex trading ,day trading forex ,online forex trader ,trading the forex market ,online trading currency ,currency trading platforms ,online fx ,currency exchange trading ,stock trader ,forex trading charts ,automated currency trading ,fx online trading ,day trading courses ,forex trading today ,practice forex trading ,forex platforms ,day trade forex ,forex brokers ,forex trading website ,currency trading ,futures trading software ,fx account ,forex uk ,online trading forex ,forex traders ,learn currency trading ,trading the forex ,best forex platform ,forex trading systems ,options trading ,foreign currency trading ,software forex trading ,online trading ,what is fx trading ,managed forex accounts ,currency broker ,how to trade currency online ,forex metatrader ,forex trading sites ,forex day trading ,trade fx ,forex trading programs ,metatrader 4 ,futures trading system ,forex spread ,forex platform ,لفوركس ,stock market trading software ,forex trading ,fx trading account ,trade online ,forex trading news ,day trading system ,forex trading mentor ,daytrading ,money trading online ,forex trading demo ,forex trading made easy ,forex live trading ,trade on forex ,forex practice account ,easy forex trading ,forex robot trading ,best forex software ,forex trading techniques ,fx options trading ,currency market trading ,trading commodities ,forex demo account ,online forex brokers ,trading on forex ,mobile forex trading ,currency day trading ,forex charting software ,fx trading station ,online day trading ,forex currency trading ,forex online trading ,4 x trading ,forex news trading ,currency trading brokers ,forex trading broker ,demo forex ,forex trading club ,fx trading forex ,forex trading simulator ,forex trading secrets ,stock market forex ,trading with forex ,learn how to trade forex ,forex trading market ,automated forex trading ,forex ecn ,forex share market ,metatrader ,stock trading system ,forex trading wiki ,forex mini account ,forex account ,forex trading program ,foreign exchange trading ,currency trading courses ,best forex broker ,forex trading times ,currency trading market ,fx forex trading ,learn to trade forex ,how to trade forex online ,us forex com ,mt4 forex ,mt4 ,how to forex trade ,foreign exchange trader ,trade foreign currency ,forex trading analysis ,money trading forex ,forex trading system ,forex malaysia ,current forex ,forex exchange trading ,forex trader ,forex mt4 ,free forex trading ,automated trading forex ,www forex com pk open market ,automated forex trading software ,how to trade foreign currency ,forex trade signals ,forextrading ,metatrader 5 ,forex affiliate ,best broker forex ,foreign exchange broker ,forex trading advice ,forex dealing ,ecn forex ,forex trading forum ,live forex trading ,commodity futures trading ,trading foreign currency ,valuta trading ,online forex trading ,how to trade fx ,learn forex trading ,demo forex trading ,forex trading companies ,forex trading for beginners ,where to trade forex ,currency trading software ,trading software ,forex trading currency ,foreign exchange currency trading ,forex automated trading ,learn forex trading online ,spot forex trading ,forex trading reviews ,investing forex news ,best online forex trading ,online forex broker ,online forex trading course ,forex trade online ,stock day trading ,online commodity trading ,what is a currency trader ,day trading ,forex broker comparison ,trading system forex ,forex futures ,forex trading courses ,foreign exchange market trading ,forex trading methods ,forex easy ,gold trading ,forex trading strategies ,forex system trading ,broker forex ,futures trading ,trading futures ,how to start trading forex ,how to trade forex ,fx options ,4x trading ,make money forex trading ,forex demo ,trade and forex ,currency trading broker ,how to trade in forex market ,how to forex trading ,best forex traders ,fx trader ,forex charting ,hedging forex ,automated trading ,forex market maker ,foreign exchange online trading ,forex trading signals ,forex hedging ,forex trading information ,forex profit ,trading forex ,fx quotes ,forex company ,forex managed accounts ,foreign exchange trade ,forex trading strategy ,currency forex trading ,forex arbitrage ,share trading ,www forex trading com ,forex tv ,how do you trade forex ,online trading account ,currency futures trading ,online share trading ,trading strategies forex ,forex trading school ,automated forex software ,forex trading seminar ,market trading ,trade market ,forex investment ,stock market day trading ,forex trading for dummies ,forex real time ,forex trading hours ,forex strategie ,forex auto trading ,cmc forex ,trading account ,فوريكس ,online forex market ,what is forex trader ,forex trading course ,foreign currency trading online ,forex global market ,forex trading com ,gold forex ,forex how to ,trading foreign exchange ,forex currency market ,free forex trading course ,forex online ,forex online training ,the forex market ,currency trading for dummies ,trading in forex ,action forex ,forexworld ,forex megadroid ,forex trading what is it ,online forex trading companies ,automated forex trading system ,x forex ,top forex brokers ,how to invest in forex market ,forex trading robot ,reuters fx ,forex broker reviews ,swiss forex ,forex day trading strategies ,learn day trading ,forex futures trading ,stock trading strategies ,day trading stocks ,forex charts live ,live forex charts ,online forex charts ,best forex ,currency options trading ,how to trade currency ,business forex ,forex learning ,forex market today ,forex charts online ,best forex trading system ,mercado forex ,spread trading ,forex live charts ,how to trade on forex market ,forex training course ,forex stock market ,live forex market ,acm forex ,day trader ,earnforex ,site forex ,forex software ,forex historical data ,trading courses ,currency trading strategies ,forex pros ,how trade forex ,forex made easy ,forex trading basics ,trading in forex market ,spread forex ,trade ,learning forex trading ,forex for beginners ,forex trading training ,forex pairs ,commodity trading ,currency trading basics ,forex margin ,forex training ,trading en forex ,4x exchange ,best fx ,stock forex ,forex course ,system forex ,forex trading alerts ,interbank fx ,how to do forex trading ,forex trading indicators ,currency trading site ,learn forex ,forex download ,forex market ,mini forex ,forex canada ,forex charts ,online money trading ,forex system ,how to trade in currency market ,day trading strategies ,oanda forex ,forex pip ,forex gold ,fibonacci forex trading ,forex mentor ,forex price ,forex quotes ,forex seminar