6 October 2018

Below you can find our 6 October 2018 posts archive, organized chronologically.
  • Bitcoin Cash, Litecoin and Ripple Daily Analysis – 06/10/18

    It’s another morning in the red for the majors, with the bulls in the need of a weekend rally to reverse losses from the week.

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  • bitcoin eth

    Bitcoin – Is That the Bottom? The SEC May Have a Final Say on That

    Bitcoin in the red again, with the SEC’s review of submitted and previously decline Bitcoin ETFs providing little support, uncertainty supporting the bears

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  • AUD/USD daily chart, October 08, 2018

    AUD/USD Price Forecast – the Australian dollar slams around at Lowe’s

    The Australian dollar has been very noisy during the trading session on Friday, initially drifting lower, but turning around to show signs of life. The 0.70 level underneath will continue to be very interesting, and quite frankly a target. The 0.71 level above should be massive resistance.

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  • EUR/USD daily chart, October 08, 2018

    EUR/USD Price Forecast – Euro shows resiliency at large figure

    The Euro fell below the 1.15 level but turned around to show resiliency there again after the jobs number. Because of this, I think that we will continue to respect the overall consolidation between the 1.15 level and the 1.18 level, and other words, we should see more of the same.

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  • GBP/JPY daily chart, October 08, 2018

    GBP/JPY Price Forecast – British pound breaks through round figure

    The British pound rallied significantly during the trading session as a “risk on” trade came into play after the jobs figure in America was released. We broke above the ¥149 level, and although we are starting to see a bit of resistance there, it’s a good sign that we are probably going to go looking towards the ¥150 level given enough time.

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  • GBP/USD daily chart, October 08, 2018

    GBP/USD Price Forecast – British pound finds a lifeline

    The British pound broke higher during the trading session on Friday after the jobs number, and for that matter even started the move previously. The 1.30 level has shown itself to be supportive as it had previously been resistive, and now that we have cleared that psychologically important level, I think we will continue to try to build up bullish pressure.

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  • USD/JPY daily chart, October 08, 2018

    USD/JPY Price Forecast – US dollar drifts lower against Japanese yen

    The US dollar drifted lower against the Japanese yen after the jobs number in America was a bit of a “meh” experience. Because of this, I think that we could get the pullback that we need from this market because of the overbought condition that we had been in.

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  • Gold daily chart, October 08, 2018

    Gold Price Forecast – Gold markets continue to be range bound

    Gold markets were both bullish and bearish during the trading session on Friday after the jobs number, as we continue to bounce around and try to figure out where to go next. The $1200 level of course is a large, round, psychologically significant figure so it makes sense that the market will continue to respect it.

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  • Natural gas daily chart, October 08, 2018

    Natural Gas Price Forecast – natural gas markets pulled back significantly on Friday

    The natural gas markets initially drifted higher during the day on Friday, but then fell rather significantly during the trading session on Friday. I think that the market has gotten a bit overbought, so at this point it makes sense that we would see a pullback to find demand underneath.

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  • Crude Oil daily chart, October 08, 2018

    Crude Oil Price Forecast – crude oil continues to dance around major levels

    Crude oil markets were relatively sideways after the jobs announcement during the day on Friday, as we continue to see a lot of volatility and confusion in the marketplace. On one hand, we have the US dollar working against the value of the crude oil markets, but at the same time we have the Iranian sanctions tightening supply.

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  • Silver daily chart, October 08, 2018

    Silver Price Forecast – Silver markets very noisy on Friday

    Silver markets rallied initially during the trading session on Friday but gave back the gains after the jobs number. This is a market that has rallied shortly, only to turn around and show signs of weakness again. However, the weekly candle shows more confusion than anything else.

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  • U.S. Stock Market

    Stocks Weaken as Investors Continue to Adjust to Rapidly Rising Treasury Yields

    The Labor Department reported the economy added 134K jobs in September versus the 185K estimate while revising August’s nonfarm payroll number up dramatically, to 270,000 form 201,000. In other news, the Bureau of Labor Statistics and the U.S. Census said the U.S. Trade Balance deficit increased $3.2 billion in August to $53.2 billion, a 6.4 percent increase and part of an ongoing trend in 2018.

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  • S & P 500 daily chart, October 08, 2018

    S&P 500 Price Forecast – stock markets take a swan dive on Friday

    The S&P 500 futures contract initially tried to rally in a positive way after the jobs number, but then the sliced through the 2900 level as interest rates rose in the United States. This is a significant break down, and at this point it looks like the sellers are in full force.

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  • AUD/USD weekly chart, October 08, 2018

    AUD/USD Weekly Price Forecast – Australian dollar has very negative week

    The Australian dollar has broken down a bit during the week, slicing through the 0.71 level, and making a fresh, new low. I think at this point, it looks as if the Australian dollar is going to continue to suffer at the hands of the Sino-American trade war.

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  • EUR/USD weekly chart, October 08, 2018

    EUR/USD Weekly Price Forecast – Euro find support at crucial 1.15 handle

    The EUR/USD pair pulled back during the week, but towards the end of the trading week, the market showed signs of resiliency, especially near the 1.1450 level where we surged back above the 1.15 handle, an area that is of course important.

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  • GBP/JPY weekly chart, October 08, 2018

    GBP/JPY Weekly Price Forecast – British pound reaches towards the top of the range

    The British pound reached towards the top of the range after initially pulling back against the Japanese yen this week. It looks as if the ¥150 level is going to offer a bit of resistance, but I do think we eventually slice through there. If we clear that level, it not only is a round and important number out of the way, it shows us breaking above the top of the shooting star from a couple of weeks ago.

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  • GBP/USD weekly chart, October 08, 2018

    GBP/USD Weekly Price Forecast – British pound find buyers during the week

    The British pound broke down during the week, reaching down towards the previous downtrend line, turned around of form a massive hammer. That hammer is a very bullish sign, and of course that should give us some type of hoped-for higher pricing. However, we also have a couple of shooting stars just in front of us.

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  • USD/JPY weekly chart, October 08, 2018

    USD/JPY Weekly Price Forecast – US dollar fails to break out for the week

    The US dollar rallied initially during the week against the Japanese yen but struggled at the ¥114.50 level. This is an area that is massive resistance from we have seen in the past, and we have formed a very bearish candle.

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  • Gold weekly chart, October 08, 2018

    Gold Weekly Price Forecast – Gold markets show signs of stability for the week

    Gold markets went back and forth in the week to show stability yet again as we continue to dance around the $1200 level. This is an area that continues to be of interest, and with the massive amount of support in that area just below, it’ll be interesting to see if we can rally.

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  • Natural gas weekly chart, October 08, 2018

    Natural Gas Weekly Price Forecast – natural gas markets break out

    The natural gas markets broke out during the week, slicing above the $3.10 level, and then eventually the $3.20 level. The candle gave back about half the gains, so although it’s very bullish I think we have maybe seen a bit of a blow off top.

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  • Crude Oil weekly chart, October 08, 2018

    Crude Oil Weekly Price Forecast – crude oil markets test major resistance barrier

    Crude oil markets broke higher during the week, breaking above a major round figure, but have given back quite a bit of the gains. Ultimately, this is a market that should continue to find buyers, but we are obviously a bit overbought.

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  • Silver weekly chart, October 08, 2018

    Silver Weekly Price Forecast – Silver markets go back and forth during the week

    Silver markets went back and forth during the week to form a neutral candle as we continue to grind between two major levels.

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  • S & P 500 weekly chart, October 08, 2018

    S&P 500 Weekly Price Forecast – stock markets take a dive this week

    The S&P 500 initially tried to rally during the week but continues to find plenty of resistance at the 2950 handle. By finding sellers there, the market then rolled over and then on Friday the bloodbath really picked up steam.

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  • Comex Gold

    Fears of Emerging Market Meltdown Underpinning Gold Prices

    The shift in sentiment in the U.S. Dollar Index suggests that investors believe wage inflation is creeping higher, but it has not accelerated as much as the market was fearing. Gold buyers are currently operating under the notion that the fear of a rising dollar is going to cause a huge rout in the emerging markets and investors are going to need gold to hedge that risk. Crude oil prices rebounded into the close as mixed U.S. unemployment data eased concerns about demand in the world’s top oil consumer ahead of a U.S. sanctions deadline on Iranian oil exports.

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  • Oil Barrels

    Oil Price Fundamental Weekly Forecast – Emerging Market Demand Concerns Becoming an Issue

    While the WTI and Brent markets could continue to be underpinned due to the uncertainty ahead of the start of the Iranian sanctions on November 4, we could start to see a sideways to lower trade until then due to the rapidly rising U.S. Dollar and a drop in demand from emerging market countries that can’t afford to buy dollar-denominated crude oil.

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  • Gold Bars and Dollar

    Price of Gold Fundamental Weekly Forecast – Will Emerging Market Stress Trigger Upside Breakout?

    Gold buyers may be betting on an emerging market crisis. It certainly makes sense at this time, but it is still a speculative event. The Fed could control whether this move gains traction. If the Fed continues to press forward with aggressive rate hikes to combat inflation then we could see a huge correction on stocks or further weakness in the emerging markets (they are already in a bear market).

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  • Natural Gas

    Natural Gas Price Fundamental Weekly Forecast – Mixed Demand, Strong Production Could Weigh on Prices

    The good news is that last week’s rally raised the current trading range, suggesting the buying is getting stronger as we head into the winter heating season. This also supports our bullish upside bias. The breakout over the old trading range of $2.75 to $3.08 likely means we could see a pullback into the top of this range, making $3.08 the next downside target.

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  • JPY Notes

    USD/JPY Fundamental Weekly Forecast – Steep Break Coming if US Consumer, Producer Inflation Miss Forecasts

    The price action late in the week suggests we may be looking at a short-term top in the USD/JPY. Although the divergence in monetary policy between the hawkish U.S. Federal Reserve and the dovish Bank of Japan is still bullish for the Dollar/Yen. We may see some position adjustments this week which could weaken the Forex pair.

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  • AUD/USD and NZD/USD

    AUD/USD and NZD/USD Fundamental Weekly Forecast – Focus Will Remain on U.S. Treasury Yields, Inflation Data

    There are no major reports from Australia and New Zealand this week. In the U.S., investors will get the opportunity to react to Producer and Consumer Inflation data. The PPI is expected to show an increase of 0.2%, up from -0.1%. The CPI is forecast to show an increase of 0.2%, up from 0.1%

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