Daily Analysis December 5, 2014

US Stock Market – There was a slight drop in the US Indices, which resulted in an overall negative performance. The Dow Jones fell by 0.07%, the S&P 500 fell by 0.12% and the NASDAQ fell by 0.11%. Analysis shows that the S&P 500 is above the support of 2,050 with an MACD above 0.

US Dollar – The US Dollar was traded mixed against its major counterparts, following the release of the Unemployment Claims report. There are expectations for high volatility due to the release of the Non-Farm Employment Change.

EUR/USD – The Euro went up against the US Dollar and closed at a rate of 1.2380 following the European Central Bank`s decision to leave interest rates as they are. Analysis shows that the pair has entered into a strong bearish trend, with an RSI below 50.

GBP/USD – The Pound lost ground to the US Dollar and closed at a rate of 1.5673 following the unchanged interest rates by the Bank of England. Analysis shows that the pair is above the support of 1.5630 and with a Momentum indicator above 0.

Gold – The price of gold dropped and is going at a rate close to 1203.00. There are some fluctuations expected due to the upcoming publication of data on US salaries.