Daily Market Review & Financial Analysis

Shaky Housing Data Damages Dollar

November 20, 2018

U.S. Stock Market

Losses for Technology, Consumer Services and Industrials stocks forced U.S. indices lower on Monday, with the Dow Jones falling 56%, the S&P 500 dropping 1.66% and the NADSAQ losing 3.03% of its value. Technically, according to the 1-hour chart, the Dow is trading above the bullish trend line, a level of performance which could take it up as high as 25,150. However, breaking below the line may lead to a minor retracement back to the region of 24,900.

Netflix (NFLX)

Last : 272.97

Netflix shares fell to close at $272.97 but on the 1-hour chart, the stock is trading above the support line at $270.00 and if it holds there, we might yet see a reversal and a rise towards $275.00. Breaking below the line, however may push the price down towards $270.00.

Resistance 273.00 274.00 275.00
Support 272.00 271.00 270.00

U.S. Dollar (USD)

The dollar fell against its rivals Monday after soft homes data pointed to a continued slowdown in the U.S. housing market.

Gold

Last : 1,224

Gold rose, closing at $1,224 an ounce. According to the 1-hour chart, the metal is holding above the bullish trend line, which could take it up towards $1,230, although breaking below the line may take it down in the direction of $1,220.

Resistance 1,226 1,228 1,230
Support 1,223 1,221 1,220

Crude Oil

Last : 57.32

Crude Oil rose, closing at $57.32 a barrel. On the 1-hour chart, the commodity is trading above the 20-day Moving Average and if these conditions continue, the price could rise towards $58.50. However, a drop below the SMA may lead the price down as low as $56.00.

Resistance 57.50 58.00 58.50
Support 57.00 56.50 56.00

Euro (EUR)

Last : 1.1451

The euro rose versus the U.S. dollar, closing at 1.1451. On the 8-hour chart, the pair is trading below the bearish trend line, which may cause the price to fall towards 1.1300. However, crossing above the line could lead it up to around 1.1600.

Resistance 1.1500 1.1550 1.1600
Support 1.1400 1.1350 1.1300

British Pound (GBP)

Last : 1.2852

The pound rose against the U.S. dollar, closing at 1.2852. On the 1-hour chart, the pair is holding above the SMA. These conditions may cause the price to rise towards 1.3000 but breaking below the 20-day line could cause a reversal towards 1.2700.

Resistance 1.2900 1.2950 1.3000
Support 1.2800 1.2750 1.2700

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