30 October 2018
Bitcoin Cash, Litecoin and Ripple Daily Analysis – 30/10/18
It’s a positive start to the day as the cryptobulls look to reverse Monday’s losses, the sell-off having come off the back of another crypto theft.
Bitcoin – Why Did MapleChange Spook Bitcoin Investors?
Bitcoin eyes $6,400 early in a bid to move back to its pre-Monday sell-off ranges, which would ease some of the negative bias hitting the broader market.
USD/JPY Fundamental Daily Forecast – Global Market Recovery Pressuring Demand for Safe-Haven Yen
The early price action on Tuesday suggests short-covering in the USD/JPY is taking place due to the strong recovery overnight in global equity markets. This is driving up demand for higher-risk assets, driving down demand for the safe-haven Japanese Yen.
GBP/USD Price Forecast – Sterling Continues To Face Bearish Pressure from Brexit Woes
A data-thin calendar for the day will see continued emphasis placed on Brexit headlines, as well as potential broad-market moves following the EU’s GDP reading.
AUD/USD and NZD/USD Fundamental Daily Forecast – Boosted by Positive Developments in China, Aussie Traders Prepare for CPI Report
The early trade suggests the positive developments in China and the rebound in the global equity markets will be the news driving the price action early Tuesday. Continued strength in the U.S. equity markets will also be a positive for the Aussie and Kiwi because it will indicate increasing demand for higher-yielding assets.
Oil Price Fundamental Daily Forecast – Chart Pattern Suggests Prepare for Surprise News
The bearish news is piling up but prices haven’t moved much since last week’s steep plunge, which suggests the bad news may already be baked into the price. The sideways chart pattern suggests the worst may be over and speculators are waiting for bullish news.
Price of Gold Fundamental Daily Forecast – Investor Sentiment Turns Bearish, Technical Support Fails
Since stock market weakness was the catalyst behind gold surge in October, we’re going to keep an eye on equities today because firmer equity markets could take gold prices lower. The daily chart indicates sellers are taking control. Earlier in the session, key trend line support was broken at $1228.30. If the downside momentum continues, we’re likely to see the selling to extend into $1222.70.
Global Equity Markets Rebound after China’s Regulator Said It Wants to Improve Market Liquidity
The major U.S. stock indexes were helped early Monday by the announcement of IBM’s acquisition of Red Hat and the news that German Chancellor Angela Merkel would not seek a fifth term as Germany’s leader.However, conditions turned sour following a Bloomberg News report that said the United States is preparing new tariffs against all remaining Chinese imports.
Natural Gas Price Fundamental Daily Forecast – Warmer Temps Could Drive Prices into $3.125 to $3.057
The current weather forecast is calling for milder temperatures until November 12-13. After that, colder temperatures are expected to arrive. Prices could be under pressure until then because traders are still unsure about the weather pattern.
EUR/USD Mid-Session Technical Analysis for October 30, 2018
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the minor pivot at 1.1379.
How Has Inflation Affected Pension Funds?
Given that pensions are such a crucial preparation for retirement, it is worth looking at how they can be affected by changes in the rate of inflation, so here are some points worth considering.
Bitcoin 2.0: What will Breathe Life into Crypto Market?
Search queries analysis indicates a drop in the number of the Bitcoin searches to the levels of spring 2017 and Bitcoin struggles to rise again. What will Breathe Life into Bitcoin?
AUD/USD Forex Technical Analysis – October 30, 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 short-term 50% level at .7090.
Asia Rebounds, EU GDP Missed Expectation, Earnings To Dominate US Session
EU markets were mixed at midday after a barrage of news washed over the market, US markets set to open higher in the early pre-opening session. EU 3rd quarter GDP which came in well below expectations.
Gold Price Futures (GC) Technical Analysis – October 30, 2018 Forecast
Based on the early price action, the direction of the December Comex Gold futures contract is likely to be determined by trader reaction to the 50% level at $1222.70.
AUD/USD Price Forecast – Australian dollar traders continue to press
Australian dollar traders continue to press higher overall, after a major bounce. However, keep in mind that the Australian dollar is highly leveraged to the Chinese economy, which of course we have a lot of questions about right now.
EUR/USD Price Forecast – Euro looking for support
The Euro fell again during trading on Tuesday but looks as if it is trying to find support near the 1.1350 region, the beginning of a previous support zone down to the 1.13 handle. If this area can hold, I think the pair may get a short-term bounce.
GBP/JPY Price Forecast – British pound pulls back against yen
The British pound pulled back against the Japanese yen during trading on Tuesday, after initially rallying a bit during early trading. The market of course has bounced of the last couple of days so I think that the market is trying to make a bit of a comeback. The resistance above is probably going to be difficult.
GBP/USD Price Forecast – potential decision day for the pound the
The British pound broke down significantly during early trading on Tuesday, slicing through the 1.2750 level, but now the question is whether or not we can hang below there? If we do break down below that level, and stay below there, then the market could unwind rather drastically. I suspect that the daily close is going to be crucial at this point.
USD/JPY Price Forecast – US dollar breaks out against yen
The US dollar broke out during the trading session on Tuesday, clearing the 100 will ¥0.75 level. Ultimately, this is a good sign, but I also see a lot of resistance above.
Gold Price Forecast – Gold markets pulled back looking for support
Gold markets pulled back a little bit during the trading session on Tuesday, as we continue to try to build up momentum to the upside and break above the major resistance level at $1250.
Natural Gas Price Forecast – natural gas markets bounce
Natural gas markets broke higher during the trading session on Tuesday, slicing above the $3.20 level. At this point, the market continues to struggle above though, as we have seen a lot of resistance recently. This snap higher of course was a good sign, but we’ve already given back some of the gains.
Crude Oil Price Forecast – crude oil markets fall a bit
Crude oil markets continue to drift a bit lower during the trading session on Tuesday, slicing through some scenes of support. We continue to see a lot of bearish pressure, and of course the strengthening US dollar isn’t helping.
Silver Price Forecast – Silver markets fall a bit to find support
Silver markets fell a bit during the trading session on Tuesday, reaching towards the $14.50 level before finding buyers. By doing so, it looks as if we are continuing the overall sideways trade that we have seen for some time, and if the US dollar softens a bit, we could perhaps see a bit of a return towards the $14.90 handle.
S&P 500 Price Forecast – stock markets rebound slightly on Tuesday
In what we seen before, the market is trying to pick up its feet a bit after a severe fall. However, I don’t see any convincing action at this point Annie think we are going to continue to drift a bit lower. It’s not necessarily that I think we are going to collapse, rather we just don’t have the momentum.
E-mini Dow Jones Industrial Average (YM) Futures Analysis – October 30, 2018 Forecast
Based on the early price action, the direction of the December E-mini Dow Jones Industrial Average is likely to be determined by trader reaction to the price cluster at 24534 to 24547.
E-mini S&P 500 Index (ES) Futures Technical Analysis – October 30, 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 2636.50. This angle provided support last Friday and earlier today. Basically, look for an upside bias to develop over 2680.25 and for a downside bias to develop under 2636.50.
E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – October 30, 2018 Forecast
Based on the early price action, the direction of the December E-mini NASDAQ-100 Index into the close is likely to be determined by trader reaction to the uptrending Gann angle at 6752.00. The market has been straddling this angle all session.
U.S. Stocks Up Ahead of Close, but Treading Water on Investor Lack of Conviction
Positive performances in several sectors helped pull the S&P 500 Index out of correction territory, or a loss of 10 percent from its recent high. These sectors included real estate, communications and materials.