29 December 2018
Dollar Dives as Investors Take Protection in Yen, Swiss Franc
Investors took shelter in the Yen despite soft domestic data, a decline in benchmark Japanese bond yields and dovish remarks from the Bank of Japan. Money also flowed into the Swiss Franc which suggests investors were taking some insurance against extended volatility in the stock market.
Read MoreBitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 29/12/18
It’s another bearish start to the day for the majors, but it’s not the first time the majors have been in the red early on in the morning…
Read MoreBitcoin – Bulls Fight Back, but Can They Hold on?
Bitcoin moves back into the red early on, with a hold onto $4,000 levels key for the Bitcoin bulls through the weekend.
Read MoreGold Futures Shine, but EIA Reports Fail to Help Crude Oil, Natural Gas
End-of-the-year profit-taking and position-squaring helped U.S. West Texas Intermediate and international-benchmark crude oil finish higher on Friday although the move was not enough to prevent a third straight week of losses. Natural gas futures fell on Friday after a report from the EIA showed that domestic supplies of natural gas fell by 48 billion cubic feet for the week-ended December 21. Gold futures reached their highest level since June 26 on Friday, underpinned by a weaker U.S. Dollar, concerns over a possible recession and heightened volatility in the U.S. equity markets.
Read MoreAUD/USD Forex Technical Analysis – Daily Chart Strengthens Over .7078, Weakens Under .7016
Based on last week’s price action and the close at .7039, the direction of the market on Monday is likely to be determined by trader reaction to last week’s low at .7016. Due to the prolonged move down in terms of price and time, the AUD/USD is inside the window of time for a potentially bullish closing price reversal bottom.
Read MoreNZD/USD Forex Technical Analysis – Strengthens Over .6718, Weakens Under .6697
Based on Friday’s price action and close at .6707, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the 50% levels at .6718 and .6697.
Read MoreUSD/JPY Forex Technical Analysis – Closed on Bearish Side of 110.584 to 111.347 Retracement Zone
Based on Friday’s close at 110.294, the direction of the USD/JPY on Monday is likely to be determined by trader reaction to the Fibonacci level at 110.584.
Read MoreEUR/USD Forex Technical Analysis – Strengthens Over 1.1447, Breakouts Over 1.1501
Based on Friday’s price action and the close at 1.1442, the direction of the EUR/USD on Monday is likely to be determined by trader reaction to the major 50% level at 1.1447.
Read MoreNatural Gas Price Futures (NG) Technical Analysis – Strengthens Over $3.384, Weakens Under $3.109
Based on Friday’s weak close at $3.148, the direction of the March natural gas futures market on Monday is likely to be determined by trader reaction to the closing price reversal bottom at $3.109.
Read MoreCrude Oil Price Update – Needs to Hold $44.68 Pivot to Generate Any Upside Momentum
Based on last week’s price action and Friday’s close at $45.33, the direction of the February WTI crude oil market on Monday is likely to be determined by trader reaction to the short-term pivot at $44.68.
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