Daily Market Review & Financial Analysis

Manufacturing Slowdown Damages Dollar

May 27, 2019

U.S. Stock Market

U.S. stocks traded higher on Friday after President Donald Trump toned down his attacks on Huawei. The Dow Jones rose by 0.7%, the S&P 500 went up by 0.6%, and the NASDAQ added 0.6% to its value. Technically, according to the 4-hour chart, the Dow is trading below the bearish trendline. As long as it stays there, a drop to around 25,500 is expected. However, crossing above the line could take it back up to around 25,800.

Facebook (FB)

Last : 181.05

Facebook shares rose 0.09%, closing at $181.05. On the daily chart, the stock is holding above the bullish trend line, which should push the price up to around $190.00. Dropping below the line, however, could set off a decline towards $170.00.

Resistance 182.00 186.00 190.00
Support 180.00 175.00 170.00

U.S. Dollar (USD)

The U.S. dollar traded weakly against its rivals after American manufacturing activity hit its lowest level in almost a decade, which could mean the U.S. economy is slowing down.


Last : 1,284

The price of Gold was up, closing at $1,284. According to the 4-hour-chart, the metal is trading above the Simple Moving Average. This may lead to a rise towards $1,294, while breaking below the line could mark the start of a fall to around $1,274.

Resistance 1,286 1,290 1,294
Support 1,282 1,278 1,274

Crude Oil

Last : 58.8

Crude Oil rose, closing at $58.80. On the 8-hour chart, “black gold” is holding above the support, and could now rise towards $61.00. Dipping below the line, on the other hand, might cause it to drop to around $57.50.

Resistance 59.0 59.5 60.0
Support 58.5 58.0 57.5

Euro (EUR)

Last : 1.1205

The euro traded higher versus the dollar, closing at 1.1205. On the 2-hour chart, the EUR/USD is holding below the resistance. Under these conditions, the pair is expected to continue falling to around 1.1130 but breaching above the line might lift it towards 1.1280.

Resistance 1.1220 1.1250 1.1280
Support 1.1190 1.1160 1.1130

British Pound (GBP)

Last : 1.272

The pound traded higher against the dollar, closing at 1.2720. On the 4-hour chart, the GBP/USD is trading below a bearish trend line. This level of performance could cause it to fall towards 1.2600. However, breaching above the line may take the Cable up to around 1.2820.

Resistance 1.273 1.277 1.282
Support 1.270 1.265 1.260

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