2 October 2018
Bitcoin Cash, Litecoin and Ripple Daily Analysis – 02/10/18
It’s positive start to the day, while Ripple’s XRP gives up some ground early, investors locking in profits from the September rally.
Read MoreCryptocurrency Startups Send Rental Rates Skyrocketing In Hong Kong
A strong bear market that continues to trigger cryptocurrency uncertainty appears not to have dampened any spirit. Immediate reports indicate that cryptocurrency startups continue to look and occupy premium property in Hong Kong.
Read MoreBitcoin – Stuck in a Rut Again, $6,700 Needed to Get Things Going
Bitcoin recovers from an early loss, but continues to face stern resistance on any run at $6,700 levels, the bears digging in.
Read MorePMI Data: U.S. Manufacturing Operating on All Cylinders, China Barely Above Contraction
If you’re keeping score at home about the impact of the escalating trade dispute between the United States and China then one of the first reports you should be looking at is the monthly PMI. At this time, it looks as if the U.S. is clearly operating from a position of strength. While the U.S. has room to the downside, China doesn’t have that much more room to fall before the manufacturing sector moves into contraction.
Read MoreStellar’s Lumen Technical Analysis – Eyeing Resistance Levels – 02/10/18
Stellar’s Lumen makes an early move, but will need to break back through to $0.26 levels by late morning to support a run at $0.27 levels.
Read MoreEUR/USD Forex Technical Analysis – October 2, 2018 Forecast
Based on Monday’s price action and the close at 1.1579, the direction of the EUR/USD on Tuesday is likely to be determined by trader reaction to the 50% level at 1.1559.
Read MoreAUD/USD Price Forecast – Australian dollar continues to base
The Australian dollar has been a bit choppy during the session on Monday but continues to show us a significant base just below. Because of this, I think we could get increased buying pressure, but obviously we need good news to help push the Aussie higher.
Read MoreEUR/USD Price Forecast – Euro range bound to kick off the week
The Euro has broken down over the last several days, the remains range bound as we trade through the Monday session. It looks as if we continue to see a lot of support underneath, and I certainly think there is some to be found at the 1.15 handle, but right now it doesn’t seem that we can pick up any type of momentum.
Read MoreGBP/JPY Price Forecast – British pound spikes due to false headline
The British pound spiked tired due to a false headline coming across twitter that the British had decided to compromise on the Irish border. Nonetheless, this is a market that was already trying to break out of a triangle anyway, so therefore I think it’s a bit of a moot point.
Read MoreGBP/USD Price Forecast – British pound gets slammed around by Twitter yet again
During the trading session early New York time, a headline came out on twitter that suggested the British were willing to make a compromise on the Irish border. However, that was quickly refuted so we’ve had yet another algorithmic drive higher based upon these headlines.
Read MoreUSD/JPY Price Forecast – US dollar continues to show resilience
The US dollar continued to show resilience to kick off the week, reaching towards the ¥114 level, and I think that we still have about another ¥50 to go before we run into major resistance. However, we are a bit overstretched so I suggest looking for value.
Read MoreGold Price Forecast – Gold markets very choppy on Monday
Gold markets initially rallied during the day on Monday but gave up most of the gains later on. It looks as if we will continue to bounce around between the $1185 level on the bottom, and the $1200 level on the top.
Read MoreNatural Gas Price Forecast – natural gas markets rally to kick off the week
Natural gas markets rally to kick off the week, reaching towards the $3.10 level. Ultimately, the market should continue to be very noisy, as we head into the colder months in the United States.
Read MoreCrude Oil Price Forecast – crude oil markets take off on Monday
Crude oil markets rallied significantly during the day on Monday, breaking above the vital levels as the Iranian sanctions are looming. With a titer oil supply, it makes sense that perhaps we continue to grind even higher.
Read MoreSilver Price Forecast – Silver markets selloff to kick off the week
The Silver markets fell rather drastically to kick off the week on Monday, reaching down towards previous trading ranges again. Remember, silver is highly volatile, and a return trip from the massive move higher shouldn’t be much of a surprise.
Read MoreS&P 500 Price Forecast – S&P 500 celebrates Canadian Deal
The S&P 500 rallied rather significantly as it was announced late Sunday night that the Canadians and Americans came to an agreement, and that the new deal between the United States, Canada, and Mexico was all but done.
Read MoreThe Biggest Trading Opportunities of September You Shouldn’t Have Missed
There were some interesting events in crypto markets in September. We wanted to underline the two very different but equally attractive opportunities for day traders that happened in September.
Read MoreRBA Holds on Rates, Focus Shifting to Trump and His Next Trade Target
A mixed start to the day, the effects of the U.S – China trade war evident in the Chinese numbers, while the U.S economy powers ahead.
Read MoreGold Price Futures (GC) Technical Analysis – Trade Through $1198.00 Confirms Closing Price Reversal Bottom
Based on today’s early price action, the direction of the December Comex Gold market the rest of the session is likely to be determined by trader reaction to the 50% level at $1193.90.
Read MoreCrude Oil Price Update – Momentum Driven Market Needs to Sustain Move Over $75.77
Based on Monday’s close at $75.30 and since the rally is being driven by momentum, the direction of the November WTI Crude Oil futures contract on Tuesday is likely to be determined by trader reaction to yesterday’s high at $75.77.
Read MoreAUD/USD Forex Technical Analysis – Watch for Counter-Trend Buyers Inside .7200 to .7172
Based on the current price at .7207 and the downside momentum, the direction of the AUD/USD the rest of the day is likely to be determined by trader reaction to the main 50% level at .7200.
Read MoreAUD/USD and NZD/USD Fundamental Daily Forecast – Weak NZ Business Confidence Opens Door to Possible Rate Cut
Driving the price action in the Australian Dollar today is the RBA’s interest rate decision. The central bank held its cash rate steady at 1.50 percent on Tuesday as widely expected. It also reiterated comfort with policy settings while noting weakness in the housing market as well as tighter credit conditions. In New Zealand, the Kiwi was being pressured by a report that showed business confidence sank to a nine-year low in the third quarter.
Read MoreEUR/USD Daily Price Forecast – EUR/USD Weakens Towards 1.15
The pair is under pressure around the 1.15 region and the bulls need to make sure that they will hold it
Read MoreUSD/JPY Fundamental Daily Forecast – Profit-Taking Could Pressure Dollar/Yen Under 113.745
Demand for risky assets is likely to continue to drive the price action in the USD/JPY on Tuesday. Traders are also likely to react to the direction of U.S. Treasury yields. However, due to the recent prolonged rally in terms of price and time, the Forex pair may be due for a short-term correction due to overbought technical factors.
Read MoreGBP/USD Daily Price Forecast – GBP/USD Sticking to the 1.30 Region
The pair holds on to the 1.30 region as we wait for further developments in the UK surrounding the Brexit process
Read MoreUSD/CNY: Trade War Turned into a Currency War and Escalates the Relationships Between the US and China
The US-China trade war has turned into a currency war. The latest manufacturing numbers released by China’s National Bureau of Statistics yesterday show the first hard evidence that US President Donald Trump has weakened Chinese President Xi Jinping’s hand in the nine-month-long trade war between the two economic superpowers. In the face of escalating US tariffs against Chinese goods, Chinese factory orders have declined after 15 months of expansion.
Read MoreIs NZD/USD in the Horizontal Channel?
The downtrend of the NZD/USD started in the middle of April and had been continuing until the middle of August. However, moves of the past recent weeks signal the forming of the horizontal channel. Does it mean that the NZD got chances to recover or it’s fake signs?
Read MoreWill Bitcoin Fall Further?
It is crucial to keep an eye on how the price will behave over the next few days or weeks and, observe on which side of this triangle Bitcoin will break. This could be the major moment for the upcoming future.
Read MoreNatural Gas Price Fundamental Daily Forecast – Maintenance, Weather Driving Surprise Short-Term Rally
We’re in a news and technical momentum driven market with prices not seen in months. However, it’s still too early for this kind of move so chasing prices higher at this time of year carries some huge risks. The weather we can deal with and once the nuclear power stations finish their maintenance, supply is expected to increase so we think the best opportunity will be on the short side, once a short-term top is reached.
Read MoreDAX Index Daily Price Forecast – DAX Buoyant as it Tries to Find Support
The DAX finished higher for the day yeterday and it is likely to be generally buoyant for the short term
Read MoreOil Price Fundamental Daily Forecast – Vertical Price Action Suggests Speculators Taking Control
Traders still don’t know how much oil will be taken off the market. They still aren’t sure how many countries are going to go along with the U.S. order to boycott Iranian oil and thirdly, no one knows if Saudi Arabia and Russia will produce enough oil to offset any lost supply.
Read MoreUSD is great again!
Read MoreRescued NAFTA Deal Fails to Lift Global Risk Appetite
Global investors remained defensive on Tuesday despite the U.S. and Canada agree to a new trade deal ending months of uncertainty and providing a lift to specific assets including the Canadian Dollar and Mexican Peso
Read MorePrice of Gold Fundamental Daily Forecast – Price Action Being Driven by Technical Factors, Who is Buying?
It looks like the focus should be on the technical side of the gold market today. The reason for the early strength may be found out later in the session. The key area to watch is the psychological $1200 level. This could be the pivot price that determines whether the next move is $15 higher or $15 lower.
Read MoreBitcoin and Ethereum Price Forecast – BTC Prices Still in Range
The BTC prices have continued within the range for another day yesterday and there are no signs of a breakout as yet
Read More“Crypto Sign of Hope”: Legal Uncertainty Suppresses Volatility, But ETH Volumes Are Encouraging
The crypto market opened October unchanged, however, the volume is at highest levels since the beginning of the year, provide hope for cryptocurrencies.
Read MoreGold Just Below $1200 and Looking Higher
Gold prices have been trading in a strong manner over the last few days and it seems as though the prices are trying to form a base.
Read MoreVibrant US Economy and Optimism Around NAFTA Motivate Crude Oil Rally; European Stocks Lower on Italy’s Debt Crisis
European stocks trade mostly lower on Tuesday morning as the Italian debt crisis weighs on the markets. Oil prices rally continues.
Read MoreEUR/USD Mid-Session Technical Analysis for October 2, 2018
Based on the early price action and the current price at 1.1519, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the Fibonacci level at 1.1498.
Read MoreE-mini S&P 500 Index (ES) Futures Technical Analysis – October 2, 2018 Forecast
Based on the early price action, the direction of the December E-mini S&P 500 Index the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at 2923.50.
Read MoreAUD/USD Forex Technical Analysis – October 2, 2018 Forecast
Based on the early price action, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at .7160. Basically, look for the downside pressure to resume on a trade through .7172. A sustained move over .7200 will likely lead to further short-covering.
Read MoreE-mini Dow Jones Industrial Average (YM) Futures Analysis – October 2, 2018 Forecast
Based on the early price action, the direction of the December E-mini Dow Jones Industrial Average futures contract on Tuesday is likely to be determined by trader reaction to the short-term pivot at 26584.
Read MoreLukman’s Week Ahead: Market themes to watch out for – Webinar October 15
Take an in-depth look at the latest developments in the global financial markets with FXTM’s Research Analyst, Lukman Otunuga. An authority on the markets, Lukman is frequently quoted by leading media across the globe
Read MoreGold Price Futures (GC) Technical Analysis – October 2, 2018 Forecast
Based on the early price action, the direction of the December Comex Gold futures contract today is likely to be determined by trader reaction to the intermediate 50% level at $1193.90.
Read MoreE-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – October 2, 2018 Forecast
The short-term range is 7422.25 to 7728.75. If the selling pressure continues then look for a move into its retracement zone at 7575.50 to 7539.25. Since the main trend is up, buyers are likely to come in on a test of this area.
Read MoreCrude Oil Price Update – Could Be Setting Up Closing Price Reversal Top with Downside Target $73.79 to $73.69
Based on the early price action, the direction of the November WTI Crude Oil market on Tuesday is likely to be determined by trader reaction to yesterday’s close at $75.30.
Read MoreWill Powell Reiterate His Comment that He Does Not See Inflation Surprising to Upside?
We have Powell saying he doesn’t expect a surprise jump in inflation and Kashkari saying the economy may not yet be at full employment. These represent the Fed’s mandates, which are inflation at 2% and unemployment at 5 percent or lower. It seems to me that perhaps the Fed should consider taking its foot off the gas at least in December especially if the trade dispute between the U.S. and China is still a major issue. At some point, the impact of the tariffs are going to have to hit home.
Read MoreRisk Appetite Dwindles as NAFTA Cheer Fades
Asian stocks ended mostly lower while European equities are a sea of red this afternoon amid the lack of appetite for riskier assets. Although the new United States-Mexico-Canada (USMCA) deal came as a relief to markets
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