20 December 2018
Bitcoin – Bulls Hit $4,000 but Can’t Hold, Leaving the Week Finely Balanced
Bitcoin’s sitting pretty after 3 days in the green this week, but failing to hold onto $4,000 on Wednesday makes today all the more important.
Read MoreFocus Shifts to GBP, with Retail Sales and the BoE in the Spotlight
A mixed morning for the Kiwi and Aussie Dollar shifts focus to the BoJ and BoE who deliver policy decisions, though neither are likely to deliver a shock.
Read MoreBitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 20/12/18
It’s back in the green for the majors, with momentum favoring the bulls. Key levels will need to be hit later in the day to avoid a reversal.
Read MoreDASH Technical Analysis – Bulls in Control –20/12/18
DASH is on the move, though the bulls will need to hit $75 levels to get another rally going later in the day, else face some pullback.
Read MoreOil Extends Slide to Lowest Level in Over a Year
The crashes seen in the price of crude oil over the past few months has arguably been the biggest story of the year, with the market tumbling by more than a third since the start of October.
Read MoreE-mini Dow Jones Industrial Average (YM) Futures Analysis – Recapturing 23313 Will Signal Return of Buyers
Since sellers have already produced a lower-low on the daily chart during this prolonged sell-off, the direction of the March E-mini Dow Jones Industrial Average futures contract the rest of the session is likely to be determined by trader reaction to yesterday’s close at 23313.
Read MoreEUR/USD Price Forecast – EUR/USD Range Bound Over Fear Of Possible Curve Inversion Renewal
The renewed fears of curve inversion could push the EUR/USD higher
Read MoreGold Price Futures (GC) Technical Analysis – $1253.80 Trigger Point for Potential Acceleration to Upside
Based on the early price action, the direction of the February Comex gold futures contract on Thursday is likely to be determined by trader reaction to the short-term pivot at $1249.40.
Read MoreGBP/USD Price Forecast – GBP/USD On Bullish Price Action Ahead of UK Retail Sales Data
Bulls favor British pound ahead of UK retail sales data as fed statement renewed fears of curve inversion.
Read MoreFXTM Takes the Online Trading Experience to the Next Level with New Mobile App FXTM Trader
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Read MoreDAX Index Daily Price Forecast – Cues From International Market To Drag DAX on Bear’s Path
Fed forward guidance stocked fears of U.S economy’s recession once again influencing a bearish rout in major global equity markets.
Read MoreCrude Oil Price Update – Still Trying to Establish Support Base Above Multi-Year Lows
Based on yesterday’s inside move and the price action from Tuesday, the direction of the February WTI crude oil futures contract on Thursday is likely to be determined by trader reaction to $46.11. Taking out $46.11 then recapturing yesterday’s close at $48.17 will put the market in a position to form a potentially bullish closing price reversal bottom. We could see some short-covering on an intraday basis, but it needs to close over $48.17 to actually form the reversal bottom on the daily chart.
Read MoreDollar Rebounds following Hawkish Fed Rate Hike
Investors seem concerned with the fact that the Fed is signaling further rate hikes despite such unfavorable market conditions and lower economic growth forecasts for 2019
Read MorePrecious Metals Retain Some Level of Positive Price Action on Safe Haven Demand
There is some safe-haven buying supporting gold prices today as fed forward guidance renewed fears of US T.Yield curve inversion
Read MoreCryptoreport for December 20
It seems like cryptomarket started to recover. The oldest cryptocurrency bounced from the $3,222 level on December 15 and continued to move up during the first days of the week
Read MoreUSD/JPY Fundamental Daily Forecast – Pressured by Falling Treasury Yields, Carry Trade Selling
USD/JPY traders are going to continue to be influenced by the direction of U.S. Treasury yields and the stock market volatility. Going into the Fed’s decisions, Dollar/Yen traders were expecting the Fed to announce it would take a pause in its aggressive monetary policy in 2019. In other words, there would be no rate hikes. Additionally, traders expected the Fed to be a little more cautious due to rising uncertainty about global economic growth. However, investors were surprised by the Fed’s commitment to retain the core of its plan to tighten monetary policy.
Read MoreHawkish Fed hike Crush hopes of Santa Rally: Dollar Softens
US equities collapsed like a house of cards after the Fed sounded less dovish than expected with the downside momentum infecting Asian stocks this morning
Read MoreAUD/USD and NZD/USD Fundamental Daily Forecast – Looking for Two-Sided Trade as Investors Adjust to Fed’s Decisions
Yesterday and earlier today, the AUD/USD and NZD/USD responded to the hawkish side of the Fed’s monetary policy decisions. Today’s intraday reversal to the upside could be position-adjusting related to the dovish side of the Fed’s monetary policy decisions. Traders could continue to generate a volatile two-sided trade until all the necessary position-adjustments are made. Once completed, the trend traders will resume control.
Read MoreTrading plan for December 20
The main events from the economic calendar for today are related to Great Britain. At first, we anticipate the release of retail sales at 11:30 MT time
Read MoreAUD/USD Forex Technical Analysis – December 20, 2018 Forecast
Based on the early price action, the direction of the AUD/USD is likely to be determined by trader reaction to yesterday’s close at .7108. The main trend is down according to the daily swing chart. However, momentum may be getting ready to shift to the upside with the formation of a potentially bullish closing price reversal bottom.
Read MoreOil Price Fundamental Daily Forecast – Pressured by Supply/Demand Concerns, Stock Market Weakness
Prices are likely to remain under pressure on Thursday unless there is a technical adjustment such as a closing price reversal bottom chart pattern. Fundamentally, it would take a surprise supply adjustment to put in a bottom. A turnaround in demand for higher risk assets like stocks could contribute to bottoming action as well as a steep drop in the U.S. Dollar.
Read MoreUSD/CAD Daily Price Forecast – USD/CAD Likely To Continue Bullish Price Action Supported By Fed Rate Hike
The USD fails to build on the post-FOMC rebound but remains bullish as loonie is weighed down by declining crude oil price in broad market.
Read MorePrice of Gold Fundamental Daily Forecast – Bullish Traders Betting Fed Has It Wrong With Eyes Set on $1284.10
Gold is at a key area on the charts. The trend is up and momentum is building. Although the February Comex gold market stopped at $1262.20 on Wednesday, I don’t think this level is resistance. I think investors stopped buying due to confusion over the Fed. I don’t see any true resistance until $1284.10 so there is plenty of room to the upside.
Read MoreBitcoin And Ethereum Daily Price Forecast – BTC & ETH Breach Critical Price Levels Hinting at Positive Price Action For Reminder of the Week
Bitcoin and legacy crypto’s see solid progress in ongoing Santa rally.
Read MoreHow did Powell Upset the Markets?
Despite many signs of global economic growth slowing, the Fed does not seem to be very concerned at this stage suggesting that monetary policy will continue to tighten albeit at a slower pace than previously projected
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Read MoreGlobal Stocks Fall as the Fed Surprises Markets
The Fed raised the key interest rate as widely expected. But despite the fact that most of the market participants were ready for this scenario, the surprises could not be avoided.
Read MoreNatural Gas Price Fundamental Daily Forecast – EIA Estimates Point to Withdrawal in Low to Mid-130 Range
A sustained move over $3.775 will indicate the short-covering is getting stronger. If this generates enough upside momentum then look for the rally to possibly extend into the 50% level at $3.980. Overtaking this level could trigger an acceleration to the upside as this move would likely scare a lot of the weaker shorts out of the market.
Read MoreEUR/USD Mid-Session Technical Analysis for December 20, 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 major 50% level at 1.1447.
Read MoreGlobal Stocks Fall On Fed Fear, EU Hits Two-Year Low, Santa Has No Love For Wall St. This Year
Asian markets fell in Thursday trading in the wake of the Wednesday’s FOMC meeting. Early Thursday futures action had the indices holding steady near Wednesday’s closing prices but there is little hope Santa Claus is coming to town this year.
Read MoreE-mini S&P 500 Index (ES) Futures Technical Analysis – December 20, 2018 Forecast
Based on the early price action, the direction of the March E-mini S&P 500 Index on Thursday is likely to be determined by trader reaction to yesterday’s close at 2504.50. Due to the prolonged move down in terms of price and time, the index is also in the window of time for a closing price reversal bottom. This chart pattern won’t change the trend to up, but it could fuel the start of a 2 to 3 day counter-trend rally.
Read MoreE-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – December 20, 2018 Forecast
Based on the early price action, the direction of the March E-mini NASDAQ-100 Index on Thursday is likely to be determined by trader reaction to yesterday’s close at 6352.25. Due to the prolonged move down in terms of price and time, the index is also in the window of time for a closing price reversal bottom. This chart pattern won’t change the trend to up, but it could fuel the start of a 2 to 3 day counter-trend rally.
Read MoreAUD/USD Price Forecast – the Australian dollar slumps
The Australian dollar slumped a bit during the trading session on Wednesday but did find a little bit of support during the Thursday session. However, it continues to slope overall, as we reach towards the 0.70 level underneath.
Read MoreEUR/USD Price Forecast – the Euro runs into resistance
The Euro rallied initially during the trading session on Thursday but ran into a brick wall in the form of the 1.15 level. That’s an area that has been massive resistance in the past, and so far it looks like it’s going to continue going forward.
Read MoreGBP/JPY Price Forecast – British pound falls against yen
The British pound fell against the Japanese yen during the trading session on Thursday again, reaching towards the ¥141 level. The British pound continues to get hammered a bit against most currencies, as we worry about the Brexit.
Read MoreGBP/USD Price Forecast – British pound fails at resistance
The British pound rallied significantly during the trading session on Thursday, testing the 1.27 handle. However, there is a significant amount of resistance at that area, as it had previously been support.
Read MoreUSD/JPY Price Forecast – US dollar on the precipice
The US dollar broke down significantly during the trading session on Thursday, reaching down towards the ¥111.50 level by the time the Americans came on board. Quite frankly, this is the trade that people are looking at for next year, as the Japanese yen is expected to strengthen due to global fear. The session on Thursday screams “risk off.”
Read MoreGold Price Forecast – Gold markets form bullish candle
Gold markets rallied significantly during the trading session on Thursday as we continue to see a lot of concern around the world. I think at this point, gold is showing us that it may be getting a bit of a safety bid, and it looks as if it’s breaking major resistance.
Read MoreNatural Gas Price Forecast – natural gas markets continue to show resistance
The natural gas markets initially tried to rally during the day on Thursday but found resistance at the 50 day EMA on the chart. We have rolled over to form a bit of a shooting star like candle by the time money started flowing into the open cry session, and it now looks as if we still have a lot of sellers.
Read MoreCrude Oil Price Forecast – crude oil markets continue to show weakness
Crude oil markets as you can see on the daily charts continue to see sellers, as we have completely broken down. Quite frankly, I think the bearish pressure and the bearish move has been bigger than what we expected.
Read MoreSilver Price Forecast – Silver markets continue to show resiliency
Silver markets rallied a bit during the trading session on Thursday as the 50 day EMA continues offer support. However, we have a lot of resistance above, and we will most certainly be paying attention to it. Because of this, we will probably have a lot of noise more than anything else.
Read MoreS&P 500 Price Forecast – stock markets continue to fall apart
The S&P 500 continues to show signs of weakness during the day on Thursday, as the Federal Reserve has shocked the market by not being “dovish enough.” At this point, it looks like we are going to fulfill a technical move to the downside.
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