OctaFX | OctaFX Forex Broker
Open trading account

US stocks end lower ahead of earnings reports

FXStreet (Córdoba) - Wall Street closed in the red after quite a choppy session. The Dow Jones Industrial Average lost 50 points and closed the day at 17,081.89, whilst the Nasdaq gave back 42 points and the S&P lost 0.68%.

The indexes opened lower amid weak China trade data, but bounced back to post some slight intraday gains as investors continue looking ahead to major earning reports this week.

DJIA technical perspective

“Oil prices late decline however, sent shares back lower, and the DJIA daily chart shows that the 100 DMA continued to cap the upside with a strong bearish slope, whilst the technical indicators are barely retreating from oversold levels”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the technical indicators extended their declines and are about to cross their mid-lines towards the downside, whilst the index is now below its 20 SMA that lost its bullish strength, all of which supports a continued decline for this Wednesday. The daily low was established at 17,013 and is now the support to break to confirm the bearish continuation, towards the 16,850 region”.

EUR/USD bulls maintain ground with eyes on 1.1400

EUR/USD is currently trading at 1.1380 with a high of 1.1382 and low of 1.1377. EUR/USD has been better bid on a mixed dollar in the US session, but staying true to the form set in the European markets as the euro attracted bids on short covering.
Read more Previous

RBNZ's Wheeler comes over all dovish

RBNZ's Wheeler explained that some further easing was likely while adding that China is the biggest concern to their economy.
Read more Next
Start livechat