The major stock indices are moving to new lows as the Fed Chair says the call was a closer call with risk two-sided. That helped to push the USD higher as well.
The Dow is donw -0.83% while the S&p and the Nasdaq are down over 1%
The S&P is currently down -1.04% and the Nasdaq is down -1.16% after trading down as much as -1.30%.
For the Nasdaq index, it is approaching its rising 100 hour moving average of 19760.11. Getting below that level would have traders looking toward the 200-hour moving average at 19410.19.
For the S&P index, the price is below its 100 and 200 hour MAs at 6057.47 and then the 200 hour MA at 6006.31.
This article was written by Greg Michalowski at www.forexlive.com.
The Dow is donw -0.83% while the S&p and the Nasdaq are down over 1%
The S&P is currently down -1.04% and the Nasdaq is down -1.16% after trading down as much as -1.30%.
For the Nasdaq index, it is approaching its rising 100 hour moving average of 19760.11. Getting below that level would have traders looking toward the 200-hour moving average at 19410.19.
For the S&P index, the price is below its 100 and 200 hour MAs at 6057.47 and then the 200 hour MA at 6006.31.
This article was written by Greg Michalowski at www.forexlive.com.