DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1) Yesterday’s candle is somewhat of a mixed message however the DAX bulls still have eyes on the all-time highs. An intraday all time high of just 3 ticks could not be sustained, closing above resistance at 12,790 but with a mildly negative daily candle.…
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Market Overview The recovery in the price of oil in the last week has been a boost to market sentiment and this has come with the dollar coming under increasing corrective pressure amidst data disappointment and more concern over Trump. Weaker US data is gradually becoming a trend, as the New York Fed manufacturing dropped…
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DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1) The market continues to consolidate but with a bullish bias, but will this last? Recent sessions have once more been consolidating the breakout with the market moving into neutral mode. However the medium to longer term momentum signals remain strongly bullish and corrective moves…
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Market Overview Global markets remain cautious as traders continue to ponder the implications of the surprise firing of FBI Director Comey by President Trump. How does this impact on the prospects for Trump’s fiscal plans? Will the divisions and scepticism in Congress grow deeper, and how will it impact on Fed monetary policy? The moves…
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DAX futures (JUNE 2017 contract is FDXM7, continuation chart is FDXc1) Consolidation in the wake of the latest upside break continues. A second successive inside day reflects a market settling down. Although the market managed to complete an all-time closing high last night, there are now lower daily highs in place as the market has…
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Market Overview It has been a while since Donald Trump did something controversial, so perhaps he got an itch that he just needed to scratch? Trump fired FBI Director James Comey by letter last night in a surprise move that shocked the markets. This was significant as Comey was investigating the claims of the Russian…
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DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1) The market is consolidating as the initial slip back from the highs is now settling down. Technically the daily chart retains strong momentum, but still looks a touch stretched. The RSI is at 75 with the Stochastics just beginning to drift a touch lower…
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DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1) Is the DAX set once more for a consolidation following a strong breakout? It seems that time and time again throughout this trend higher, the breakouts are followed by consolidation, with the trend struggling to retain traction. This continues to give renewed chance to…
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Richard Perry appeared on Tip TV again this morning to discuss the impact of last night’s Fed announcement and how the French election could impact on markets. Richard’s key focus was on the technical analysis of charts such as EUR/USD which has a big base pattern, USD/JPY which appears to be breaking higher and Gold…
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Richard Perry was interviewed on Bloomberg TV in Turkey where he was discussing the outlook for US growth and FOMC monetary policy. In the interview, recorded on Monday, he talked about the impact of deteriorating US economic data and the Atlanta Fed GDPNow forecast. He also discussed the prospects for Fed monetary policy with the…
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