31 October 2018
The AUD Gets Hit, with Stats Putting the EUR, USD and Loonie in Focus
Soft inflation figures and weaker private sector PMI numbers out of China hit the Aussie Dollar, with a busy day ahead on the data front.
Read MoreBitcoin – 10-years in the Making
With Bitcoin’s 10th birthday, another millpond start to the day gives the broader market an opportunity to look back at the rollercoaster ride of crypto…
Read MoreBitcoin Cash, Litecoin and Ripple Daily Analysis – 31/10/18
It’s a range bound, but mixed start to the day, as the market settles from Monday’s sell-off, with a lack of moves leaving many in the red for the week.
Read MoreDASH Technical Analysis – Eyeing Price Resistance – 31/10/18
DASH rallies early on in the day to test the day’s major resistance levels with another run on the cards should key levels be retained.
Read MoreEUR/USD Price Forecast – EUR/USD On Bearish Consolidation Move
The focus is on the Eurozone inflation numbers and the US employment cost index, scheduled for release at 10:00 GMT and 12:30 GMT, respectively.
Read MoreUSD/JPY Forex Technical Analysis – Weekly Outlook Strengthens Over 113.356, Weakens Under 112.978
Based on this week’s price action and the current price at 113.270, the direction of the USD/JPY the rest of the week is likely to be determined by trader reaction to the 50% level at 112.978.
Read MoreNZD/USD Forex Technical Analysis – Weekly Rally Strengthens Over .6611, Weakens Under .6576
Based on this week’s price action, the direction of the NZD/USD the rest of the week is likely to be determined by trader reaction to the 50% level at .6576.
Read MoreGBP/USD Price Forecast – GBP/USD Trading Range Bound near 1.2700 Handle Owing to Brexit Concerns
The Pound is steeply off of recent highs as Brexit concerns pummel investors sentiment.
Read MoreAUD/USD Forex Technical Analysis – Weekly Inside Move Suggests Investor Indecision, Impending Volatility
Based on the price action this week and the inside move, the direction of the AUD/USD the rest of the week is likely to be determined by trader reaction to last week’s high at .7126 and last week’s low at .7020.
Read MoreDAX Index Daily Price Forecast – DAX To Trade Bullish Over Positive Cues From Wall Street & Asian Markets
German equities to trade positive supported by increased risk appetite surrounding equity markets.
Read MoreOil Price Fundamental Daily Forecast – Divergence Between WTI and Brent May Be Signaling Short-Term Bottom
The divergence on the daily chart between December WTI crude oil and January Brent crude oil on Tuesday and technically oversold conditions suggests the market may be ripe for a short-term counter-trend rally. This may be the reason for today’s early strength.
Read MoreRupiah manages to withstand renewed Dollar drive
Improved risk appetite and an improved attitude towards global stock markets have helped support a number of different APAC EM currencies, despite the news of the Dollar edging very close to a new 2018 high.
Read MorePrice of Gold Fundamental Daily Forecast – Dollar Strength Too Much for Gold Buyers to Bear
December Comex Gold prices are likely to continue lower with $1215.30 to $1208.00 the primary downside target. Since the trend is up and this zone represents value, we may see buyers step in on a test of this zone. In order to rally from this zone, the dollar is going to have to weaken and volatility has to return to the stock market.
Read MoreNatural Gas Price Fundamental Daily Forecast – Slight Shift in Weather Outlook Triggers Short-Covering Rally
The spike in prices on Tuesday was a surprise because the weather forecast didn’t change by much. It may have just been a reaction to oversold technical conditions. Despite the rally, the main trend is still down according to the daily swing chart. It will change to up on a move through $3.314. If this occurs then we’ll have to take the rally more seriously.
Read MorePrecious Metals Move Down on Increased Risk Appetite in Equity Markets
Yellow metal loses luster as risk appetite increases in major equity markets across the globe.
Read MoreThree perspective bearish setups
Read MoreBitcoin and Ethereum Price Forecast – BTC Price Stabilises
The prices have stabilised over the last 24 hours but the dangers to the downside continue to remain and dominate the markets
Read MoreEUR/USD Mid-Session Technical Analysis for October 31, 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 yesterday’s close at 1.1345.
Read MoreTrading plan for October 31
Find out key levels for today. Get clues on the trading of the US dollar index, USD/JPY, USD/CAD, and EUR/ USD.
Read MoreGold Price Futures (GC) Technical Analysis – October 31, 2018 Forecast
Based on the early trade, the direction of the December Comex Gold futures contract is likely to be determined by trader reaction to the downtrending Gann angle at $1222.00.
Read MoreAUD/USD Forex Technical Analysis – October 31, 2018 Forecast
Based on the early price action, the direction of the AUD/USD on Wednesday is likely to be determined by trader reaction to the Fibonacci level at .7107 and the 50% level at .7090. Basically, look for an upside bias to develop on a sustained move over .7107. Look for a downside bias to develop on a sustained move under .7090.
Read MoreWebinar Analyzing trends with Dow theory
Knowing how to analyze trends is the key skill of a successful Forex trader. FBS analyst Elizabeth Belugina will teach you the theory of trend trading and show some examples from the real market charts.
Read MoreUSD/CAD Daily Price Forecast – USD/CAD is Moving Range Bound Ahead of Canadian GDP & US NFP Employment Updates
Recovery in US Crude oil price and hawkish comments from BOC’s Poloz helped Loonie limit US Greenback’s upside move.
Read MoreCrude Oil Price Update – Strengthens Over $66.79, Weakens Under $66.72
Based on the early price action, the direction of the December WTI crude oil market on Wednesday is likely to be determined by trader reaction to a pair of Gann angles at $66.72 and $66.79.
Read MoreE-mini S&P 500 Index (ES) Futures Technical Analysis – October 31, 2018 Forecast
Based on the early price action, the direction of the December E-mini S&P 500 Index on Wednesday is likely to be determined by trader reaction to the major Fibonacci level at 2701.75.
Read MoreGBP Way for the Upcoming Days
Traders are waiting for the Super Thursday. The Bank of England will release the interest rate. Of course, the market doesn’t anticipate any changes to the rate, however, it will try to catch the mood of the central bank. If the BOE is optimistic, the GBP will be supported.
Read MoreEquities Rebound Despite Slowing Growth, EU Up On Earnings, GM Led Markets In The US
Equity markets in the EU surged more than 1.0% on strength in earnings. Equities around the world continue to rebound in Wednesday trading despite signs of slowing growth in China. Shares of General Motors surged nearly 10% on its blowout earnings report.
Read MoreE-mini Dow Jones Industrial Average (YM) Futures Analysis – October 31, 2018 Forecast
Based on the early trade, the direction of the December E-mini Dow Jones Industrial Average is likely to be determined by trader reaction to the short-term 50% level at 24966.
Read MoreHalloween’s Eve: Markets Moved away From Extreme Fear
On Wednesday, stock markets are developing a rebound. However, the currency markets still demonstrate a demand for the dollar.
Read MoreE-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – October 31, 2018 Forecast
Based on the early price action, the direction of the December E-mini NASDAQ-100 Index on Wednesday is likely to be determined by trader reaction to the major 50% level at 6822.75. This level provided support earlier in the session.
Read MoreNZDUSD: Will Kiwi Stage a Comeback?
The NZDUSD pair is now trading in the bearish channel, but it looks ready to breach above the upper line. The first target for the long position could be at 0.67, although the pair will probably fight a bit at the 100-day moving average.
Read MoreUSDZAR Higher Following Balance of Trade Report
The South African Rand stands at the time of writing as the biggest loser amongst emerging markets currencies today with losses of 1.56%
Read MoreSolid ADP Jobs Growth, Jump in Wages and Salaries Keeps Fed on Path for December Rate Hike
The Fed took a lot of heat earlier in the month from President Trump and CNBC’s Jim Cramer for raising rates too rapidly and being the cause of the initial weakness in the stock market. Looking at today’s solid labor market and wage data, however, indicates the Fed is on the right path so traders are likely to continue to price in a December rate hike of 25 basis points.
Read MoreAUD/USD Midday Technical Analysis October 31
The Australian dollar has been very noisy over the last several hours, slamming back and forth as we have no sense of grip. The Australian dollar has been a sucker spat, and I don’t think this changes anytime soon.
Read MoreEUR/USD Midday Technical Analysis October 31
The Euro has broken down again during trading on Tuesday, reaching towards the 1.13 level as the Americans jumped on board. I think at this point it’s likely that the Euro is not only going to touch that area, but it looks very likely to break down below there.
Read MoreGBP/JPY Midday Technical Analysis for October 31
The British pound has been extraordinarily volatile as of late due to the Brexit toxin of course a lot of risk appetite issues. This pair is the epitome of where you see risk appetite play out, so at this point I think it’s likely that we continue to see major volatility.
Read MoreGBP/USD Midday Technical Analysis for October 31
The British pound continues to be very volatile, as we go back and forth on what’s going to happen with the Brexit. Ultimately, I believe this is a market that continues to be very noisy, and quite frankly until we get some type of resolution with the Brexit I don’t like buying the British pound because it has already shown that it can’t pick itself up, and yesterday was extraordinarily disappointing as we broke down through a major trendline that could have been supportive.
Read MoreUSD/JPY Midday Technical Analysis October 31
The US dollar has rallied against the Japanese yen during early New York trading, but is facing a significant amount of resistance just above. We are starting to pull back almost immediately, and while if I was going to go against the Japanese yen the US dollar would be the first place I would think of, the reality is that we are a bit overstretched anyway.
Read MoreGold Midday Technical Analysis October 31
Gold markets fell during the trading session on Wednesday, but they look as if they are trying to find a bit of support somewhere near the $1215 level. The $1220 level above should be resistance. If we can break above that level, then I think the market could go much higher. However, we are at a serious inflection point.
Read MoreNatural Gas Midday Technical Analysis October 31
Natural gas markets were choppy again on Wednesday as we continue to reach around towards the $3.27 level in general. The market continues to be very choppy overall, and therefore I think short-term trading back and forth is probably the best way to go.
Read MoreCrude Oil Midday Technical Analysis October 31
Crude oil markets slumped a bit during the trading session even though we got a bullish inventory number, something that should’ve lifted them. The fact that we could not rally after that shows just how bearish this market can be.
Read MoreSilver Midday Technical Analysis October 31
Silver markets fell hard during the day on Wednesday, crashing into the $14.25 level before seeing a little bit of a bounce. That’s an area that of course offers a lot of support based upon the large, round, psychological significance of the figure.
Read MoreS&P 500 Midday Technical Analysis October 31
The S&P 500, along with many other stock indices rallied significantly during the trading session, as a bit of a relief rally continues. However, I like the idea of shorting this market as we are entering a massive resistance barrier.
Read MoreEUR/USD Monthly Forecast – November 2018
The Pairs medium to long term outlook remains in favor of US greenback owing to multiple rate hikes proposed by US Fed but in short term, the price action may go either way owing to volatility influenced by inflation data on both sides of Atlantic and proceedings of geo-political events.
Read MoreUSD/JPY Fundamental Daily Forecast – Dollar/Yen Reverses on Profit-taking Ahead of U.S. Labor Report
Early Wednesday, the Bank of Japan left interest rates unchanged as expected. Additionally, Japan’s central bank chief ruled out a near-term interest rate hike amid risks from global trade disputes, but also raised a firm warning about vulnerabilities in the financial system from years of loose monetary policy. The BOJ also cut its inflation forecasts.
Read MoreU.S. Markets End Volatile Bearish Month on Positive Note
The major stock indices were supported by strong earnings from General Motors and Facebook. U.S. Treasury yields rose on Wednesday after a report showed the private sector of the economy added more jobs in October than estimated. The move helped support the Fed’s plan to raise rates in December. The strong jobs data and the firmer Treasury yields helped send the U.S. Dollar to a 16-month high against a basket of major currencies. The U.S. Dollar Index also finished higher for a seventh straight month.
Read MoreAUD/USD and NZD/USD Fundamental Daily Forecast – Weak China PMI, Strong U.S. ADP Report Weigh on Aussie, Kiwi
The weak Australian consumer inflation data likely means the Reserve Bank of Australia is likely to continue to hold rates at current levels. It is not expected to raise rates until 2020. Low business confidence in New Zealand is raising concerns that the Reserve Bank of New Zealand will cut interest rates. Weak data from China will continue to slow economic growth in both Australia and New Zealand.
Read MoreNZD/USD Forex Technical Analysis – Strengthens Over .6516, Weakens Under .6493
Based on Wednesday’s price action, the direction of the NZD/USD on Thursday is likely to be determined by trader reaction to the short-term 50% level at .6515.
Read MoreEUR/USD Forex Technical Analysis – Taking out 1.1301 Could Trigger Sharp Break into 1.1185
Based on this week’s price action, the direction of the EUR/USD the rest of the week is likely to be determined by trader reaction to the steep downtrending Gann angle at 1.1616.
Read MoreUSD/JPY Forex Technical Analysis – Weekly Tone Strengthens Over 113.356, Weakens Under 112.978
Based on the price action this week, the direction of the USD/JPY into Friday’s close is likely to be determined by trader reaction to the short-term 50% level at 112.978.
Read MoreE-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Daily Tone Strengthens Over 7067.50, Weakens Under 6874.50
Based on Wednesday’s price action, the direction of the December E-mini NASDAQ-100 Index on Thursday is likely to be determined by trader reaction to the short-term 50% level at 6974.50.
Read MoreE-mini S&P 500 Index (ES) Futures Technical Analysis – Main Trend Down, but Momentum Shifted to Upside
Based on Wednesday’s price action, the direction of the December E-mini S&P 500 Index on Thursday is likely to be determined by trader reaction to the major Fibonacci level at 2701.75.
Read MoreE-mini Dow Jones Industrial Average (YM) Futures Analysis – Strengthens Over 25233, Weakens Under 24824
Based on Wednesday’s close and the price action, the direction of the December E-mini Dow Jones Industrial Average on Thursday is likely to be determined by trader reaction to 24824 to 25233.
Read MoreCrude Oil Price Update – Market Testing Major Retracement Zone at $65.45 to $62.79 but No Sign of Bottoming
Based on Wednesday’s price action, the direction of the December WTI crude oil futures contract on Thursday is likely to be determined by trader reaction to the main 50% level at $65.45.
Read MoreGold Price Futures (GC) Technical Analysis – In Position to Test Key Retracement Zone at $1215.20 to $1207.90
Based on Wednesday’s close and the price action, the direction of the December Comex Gold market on Thursday is likely to be determined by trader reaction to the main 50% level at $1215.20.
Read MoreWas the October Sell-off Position-Trimming Ahead of November Elections?
As far as the November 6 mid-term elections are concerned, I have to agree with President Trump. On Wednesday when he said, “I think you’re going to lose a lot of money” if Republicans perform poorly in Tuesday’s elections.
Read MoreAUD/USD Forex Technical Analysis – Strengthens Over .7090, Weakens Under .7071
Based on Wednesday’s price action, the direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the short-term 50% level at .7090.
Read MoreE-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – In Position to Post Weekly Closing Price Reversal Bottom
Based on the price action this week, the direction of the December E-mini NASDAQ-100 Index into Friday’s close is likely to be determined by trader reaction to last week’s close at 6893.25.
Read MoreE-mini Dow Jones Industrial Average (YM) Futures Analysis – Straddling Weekly Retracement Zone at 24824 to 25233
Based on the price action this week, the direction of the December E-mini Dow Jones Industrial Average the rest of the week is likely to be determined by trader reaction to last week’s close at 24746.
Read MoreE-mini S&P 500 Index (ES) Futures Technical Analysis – Could Be Setting Up for Weekly Closing Price Reversal Bottom
With the December E-mini S&P 500 Index currently in a position to form a weekly closing price reversal bottom, the key level to watch the rest of the week is 2669.50.
Read MoreCrude Oil Price Update – Testing Weekly 50% Level at $64.97, Could Act Like Pivot
Based on this week’s price action, the direction of the December WTI crude oil futures contract into Friday’s close is likely to be determined by trader reaction to the major 50% level at $64.97.
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