Target Thursdays: SPX500_m, EURUSD & XAGUSD hit target prices

Check out these potential profits that you may have missed from our Daily Market Analysis.

1. SPX500_m bulls deliver 

Back on Monday, we covered the SPX500_m in our trade of the week. Prices were firmly bullish, especially after surging to record highs last Friday. 

• TP hit: YES, the SPX500_m hit the 4900 level

• Why: Investor optimism for strong corporate earnings, rising tech stocks

• Technicals: Intraday breakout above 4870 fuelled upside

2. EURUSD hits resistance ahead of ECB 

It has been a choppy week for the EURUSD as anticipation mounts ahead of the ECB meeting. Nevertheless, prices have hit some of our targets before this big event. 

• TP hit: YES, the EURUSD hit 21-Day EMA and 50% Fib level

• Why: Mixed Eurozone data dampened ECB cut bets, weak US dollar 

• Technicals: Prices in a range waiting for significant breakout

3. XAGUSD eyes 4th target level 

Silver bulls have been busy this morning, cutting through the bullish price targets like a hot knife through butter. 

• TP hit: YES, 3 out of the 4 profit targets have been hit his morning.

• Why: A weaker dollar could be offering support to the precious metal 

• Technicals: Prices are respecting an uptrend on the 15-minute timeframe

The above scenario (XAGUSD) is based on the FXTM Signals that are posted twice a day (before the London and New York sessions) for all FXTM clients to follow. This can found in the MyFXTM profile under Trading Services... FXTM Trading Signals.

SPX500_m Silver EURUSD Technical Analysis