Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia. He runs training, analysis and resource workshops for retail and professional financial market traders involved in stocks, CFDs, warrants, derivatives, futures and commodities in China, Malaysia, Singapore and Australia. He has his own trading company, guppytraders.com. He is a special consultant to AxiCorp.
The best and most stable index is the NASDAQ and this is clearly seen in the monthly chart.
The current downside target is $1,180. Failure to hold at this support level sets a target near $1,050.
Rather than trade gold there are more effective and profitable ways to trade this rebound.
Its too early to know which direction the Aussie will break but when it does, there's a high probability it will move towards projection targets.
The prospect of a Donald Trump or Hillary Clinton victory in the U.S. election isn't seeming to induce any jitters in the dollar index.
The trend is bullish despite a pause for the Shanghai Composite index, technical analyst Daryl Guppy says.
There's no question that the Aussie strength is a direct consequence of weakness in the U.S. dollar, Daryl Guppy writes.
The U.S. dollar index is testing a critical support level of a long-running trading band that is likely to hold for now.
The Shanghai index is developing some of the characteristics of a trend reversal, Daryl Guppy writes.