S&P500(SPX) attempts to hold on
The S&P500(SPX) saw another fall from grace as prices attempt to hang onto the recent high. With bulls hoping for another run, sentiment could follow if prices can stay afloat at 5200. The slow, choppy grind to the upside could continue if prices pop above 5450. With the recent moves firmly waiting on the next speech from Donald Trump, a fall below 5000 could see a deep sell-off, which could open the door to 4750 and 4500.
USDJPY hits multi-month low
The US dollar turned to another downside as price action moved towards the psychological level of 140.00. Prices now seem at a crossroads as the RSI sank into new territory. A bullish divergence suggests a possible move to the upside with a tentative bounce off the daily low of 141.70. 142.50 is the immediate resistance on the hourly chart, and then 142.00 is the second hurdle the bulls will need to overcome.
EURGBP remains choppy
The euro fell from its recent peak as overall sentiment remains cautious. The pair hovers above the recent bottom at 0.8530. The RSI’s move towards the neutral area attracted some bargain hunters, but bulls will need to push past 0.8650 before they can hope for a broader recovery above the recent spike at 0.8730. Otherwise, the choppy movement could see buyers heading for the exit as 0.8570 and 0.8500 open up.
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