 Hello and welcome to the weekly round-up video with me David Madden. Today's date is Tuesday the 19th of March 2019 and the time has just gone 1150 GMT This week we've seen a fairly decent start to the European equity session Many of the major European equity markets are continuing on the push the rally that we've seen in recent weeks And many European markets have reached five month highs today We saw multi month high being reached in the hang saying overnight as I said many of the major markets hit levels not seen Many of the major European markets have reached levels not seen since October last year And it would appear that the US equity markets are also going to be opening at multi-month highs There hasn't been a whole lot in terms of actual news flow It's been a continuation of the politics end to move that we've seen in global equity markets in recent weeks one of the things the trailer is thinking out for is the the Fed reserve's two-day meeting begins today with the announcement tomorrow Now the Fed reserve Are expected to keep the module policy unchanged And on top of that some traders are expecting that the commentary will get from the Fed reserve will be optimistic But a bit on the the neutral side in recent weeks and months The US central bank have kind of rolled back on their previous hawkish commentary and if I kind of moved towards a more of a middle of the road position and Traders and some some traders are expecting that line to be that line to be continued whereby the Federal Reserve is on one hand Optimistic and hopeful for the US economy and talk about the positive aspects of it, but maybe potentially as well discussing some of the software economic indicators and then also possibly using More kind of wait-and-see language as opposed to actually hawkish language which would suggest we're going to see more rate hikes in 2019 we're going to see rate hikes in 2019 We did have some positive economic news from the UK today on employment to trap to 3.9% 11 us since the 1970s Whereas economists are expected to remain Remain unchanged at 4% We did see the wages numbers were decent Month-on-month average UK wages on a weekly basis Excluding bonuses remained at 3.4% Meeting forecast so British workers are getting a decent real increase in wages whereby what that means is the Rate of which wages are increasing is is constantly outstripping the inflation rate So they're getting a real increase. They're getting a real as economists say they're getting a real increase in pay. So That's added to the Optimistic sentiment and the German ZAW economic sentiment update Relying to in contraction territory remain came in a negative 3.4 1. That's 12 consecutive months in a row Remain it was in negative territory, but it was an improvement on the month-on-month basis And it's certainly better than the negative 11 reading that economists were predicting Take a look now at some of the major European markets starting off with the FTSE 100 Yes, it's better similar story the major European market markets have reached levels not seen since October So we can see here its continuation of the last five hours back we've seen since late December As I said the FTSE 100 Level not seen since early October. We're comfortably above the 200 day movie average We should mark closed above yesterday The market does continue to push on higher from here. You could be looking at the 7,400 region Speak psychological number. I was using consolidation in around that area back in September and October last year And I think all beyond that you could be looking heading towards the late September high of up towards 7,558 If you do manage to pull back and retrace some of the most recent upward move support might be found from this red line here the 200 day movie average which comes into play at 7,244 you notice how not too far away from that level That level coincides with the mid-febri-high so mid-febri-high The impact of resistance there So that entire region may act as support should the market drift a bit lower and even if he does like to drift a bit below That support might be found in around the 7,200 mark And it's only if really if we take out the late February low of it in around this area here 7,040 could potentially we see Further further moves to the downside. I'll take a look now. What's going on in the DAX the German market Simulation the DAX German market reach a level not seen since October which obviously is quite significant But I think is actually more significant is the fact that this area here, which is just shy of 11,711 thousand 690 views areas here That actually that's very decent support Last well last February March and last February March last year. I did that managed active resistance again That's a support back then a much active resistance in early November So now that we're actually moved firmly above that where we're about 70 or 80 points beyond that currently that Metric may act as support going forward So keep an eye out for the kind of 711,700 region and we're currently trading at 11,760 They're about if you continue to press on higher from here. We could be looking at Targeting just they're heading up towards the to remove the average which comes to play in 11,784 And then if you go beyond that keep an eye for the kind of big psychological number of 12,000 If you do manage to see to shift a bit lower and head back below the 11,700 level 11,690 mark if you do manage to drift below that Support might be found from this region here in around 11,400 Continue with the kind of bullish team the S&P 500 is also tipped to open at a level not seen That level has not seen since October. So once again, we're expecting the S&P 500 to reach a Open at about a five month high. It's been a steady upper trend since late December Nice series of higher highs and higher lows As I mentioned in the second, we all look at the DAX talking about how the DAX Managed to get above a fairly level that was a fairly significant to get around 11,700 taking a look at the S&P 500 the 2,817 2,820 mark this region here did manage to act as a fairly significant level back in October in November and December and also yet again Early in February and early March now we're well above that metric. We're about 2,843 at the moment So we're good 20 or 24 points north of that metric and if you could hold above 2,820 We're good to the market press on higher from here. We could see a head up towards This region here in around 2,865 and if you go beyond that we could be looking at targeting 2,900 If you do manage to see any pullbacks Like I said support might be found around the 2,817,820 mark Or even down as low as the 2,800 figure itself It's of course, it's a big psychological number and even if you drop below that This this red line here at the 20 moving average like you would play 2,753 Take a look now what's going on over in the gold market It's a gold I said in terms of Price and movement that you've been relatively quiet after the last couple of weeks And we've had a fairly set size will sell off It's kind of mid mid to late February and we've kind of been recuperating the ground ever since there The market's back above 1,300 big psychological number But if you can press on higher from 1,300 this area here, we could really get targeting at 1,320 If you go beyond that you could be heading up looking heading up towards 1,346 or 1,350 If the market does balance to drift a bit lower As long as we hold above the most recent lows which committed into play around kind of 1280, 1276 Support might be found in those areas, but if you do see a break below 1276 That could be a sign that this is the beginning of a new kind of downward trend And if you make a size of break below 1276 We could be linking heading back down toward heading back down towards the kind of 1260 region Take a look now what's going on in the old market The last number of months has been a reasonably strong correlation between global equities and oil And it's largely ties into the fact that if the global economy is doing well The amount for oil would be high, so it's a not really major major surprise You see global equity markets at multi-month highs And we've also seen in this case Brent oil Heading level not seen since October sorry not seen since November So we're looking at reaching four-month highs on the oil contract Granted the volatility and the size of the move you've been seeing And oil has been fairly low recently, but nonetheless it's reached multi-month high So the market's clearly pushing to the upside And if you take out the mid-November high at 6063, it's about 36 It could take us up towards the psychology born $70 per barrel level Which actually coincides nicely with the tour de moving average, this red line here If you do see a move to the downside in Brent oil The support might be found in around the $65 a barrel region This blue line here the 50 moving average which comes to play at 63 spot 78 It's a similar situation for WTI or about WTI Has racked up a level once again not seen since November So we're talking four-month highs and WTI the market's creating multiple highs So you know the trend is to the upside So if you continue pressing on high from here We could be looking at directly the $60 a market, it's a big psychological number Actually we go beyond that So the next level to keep an eye for might be this red line here The tour de moving average which comes to play at 61 spot 92 And even to the downside by finding some support from this area here It's a 58 spot 10 Actually we go below that we could be looking at it back down towards the $56 a barrel region We saw quite a bit of consolidation in around the 56 region on WTI in the past So that makes it like more likely that it could do as a board again in the near term Keeping an eye on what's going on on the euro versus the US dollar So since mid-January Eurodont has been a nice classic example of the downward trend A nice series of lower lows and lower highs In fact the level that we saw only as she already marched Last week was actually back to a level that hasn't been seen Since June 2017 so give indication of how negative sentiment on the euro has been recently Like I said, we've seen a series of lower lows and lower highs So if that is just kind of textbook example of the downward trend would continue We may not see this push higher take out the recent high and the recent high comes to play At one spot 14 19 one spot 14 20 So we may find some resistance coming to play in on the kind of one spot 14 one spot 14 20 area If the the wider downward trend does continue We could be looking at heading heading heading lower again and looking at retesting or possibly taking out the recent lows at one spot 1176 How should we go below that we could be looking at heading back down towards one spot 11 10 It's only really if you get a seismic break above the kind of say they got a 115 area here and north of the Trinity moving average which comes to the play at one spot 14 85 It's only really if you have a size of break beyond that because then we can look Then we kind of start to feel that the recent downward trend has come to an end Take a look now at pound u.s. Dollar It's the pound dollar despite all of us going on a brexit and lobby The big political talk the pound has been doing quite well The pound has been a solid upward trend against against the u.s. Dollar For over three months now. It's been December. So my series of higher highs and higher lows granted Volatility has been high. So if you are trading cable, please keep an eye out for the high levels of volatility Some of the daily ranges have been quite large on the pound u.s. Dollar recently If you look to print take out the recent highs or in around the one spot 30 One spot 33 62 region or the most recent I one spot 33 into if you take the take on that Hi, we could be looking at any back up towards the The the The highs of early June 2018 we should commit to play in around one spot 34 72 or up towards 135 Most of the downside in pound dollar might find some support from the one spot 32 area or down That is low as a one spot 30 area and that's a once about 30. It's a big psychological number But it also sort of coincides with the turn we would be average this red line here Taking a look at the week ahead The week ahead article can be found on our website if you go to cmcmarkets.com But under news and analysis most of the updates come with satellite and the other analysts post Our our our Updating updates to the news site somewhere posted on insights which will show you in a second But take a look at the week ahead So later today that today after the close fedex the us to every company will report their third quarter figures We've already covered the we've already covered one portion of it We have us earnings and also that's our uk earnings and use consumer price index cpi So the inflation figures are out tomorrow from the uk as I mentioned the the fed reserves Today meeting begins today, but we have the announcement tomorrow On thursday keep stick with the center bank theme. We've been updated from the bank of england Uh on thursday, we have full year figures from next as we do ted baker We've third quarter figures from likey the u.s fashion house and the eu council meeting on thursday and friday in really and finishing off the week uh friday on on friday, we have the The various different pmi reports the purchasing manager's index reports coming out And also on friday, we have canadian retail sales and canadian the cpi On our platform on few hundred market posts for the second option down you get market insights Some of the updates that we do get posted to the website some of the updates that we do throughout the day get posted to Insights so if you're on a trading platform, please keep an eye out for market insights Also, please keep an eye out for a chart forum, which is the third option down on on Uh market posts So chart forum is essentially just a quick snapshot of a particular chart and uh seven the analysts updated You know out of daily basis and anybody with a cmc account Can actually up come up can update it and it's just takes a snapshot Of a chart and write some comment about what they think the price action is going to do Uh, that's all for me this week. 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