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Euro Selling Off, Nasdaq Propping Equity Futures: Market Forecast

Posted by TopstepTrader on October 27, 2017

The Euro ($6EZ7) is collapsing since yesterday's ECB meeting - with prices falling more than 200 pips in the past 24 hours. Prices really accelerated as futures broke below 1.1750. The next level of support doesn't seem to come into play until below the 1.16 handle.

The S&P 500 ($ESZ7) is taking a back seat to the Nasdaq ($NQZ7) this morning following strong earnings from the tech giants last night. The NQ is up nearly 0.8% since yesterday's settlement, while the S&P has gained just 0.2%. 

Finally, as we look at Crude Oil ($CLZ7) and Gold ($GCZ7), both contracts are down on today's trading - though not as low as they had been prior to the U.S. open. 

Senior Performance Coach John Hoagland runs down all these markets in today's video market forecast.

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Topics: Market Updates