16 July 2018
USD/JPY Fundamental Daily Forecast – U.S. Retail Sales Expected to Rise 0.4%
On Monday, the USD/JPY is going to continue to be sensitive to U.S. Treasury yields and appetite for risk. The Forex pair could continue to climb if tensions rise due to increasing concerns over the trade dispute between the United States and China. This is because investors are treating the dollar like a safe haven asset. Trading is light early Monday because of a bank holiday in Japan. At 1230 GMT, the U.S. is scheduled to release reports on Core Retail Sales, Retail Sales and Empire State Manufacturing Index. At 1400 GMT, Look for a report on Business Inventories.
Read MoreAUD/USD and NZD/USD Fundamental Daily Forecast – Trading Slightly Better Ahead of Slew of Chinese Economic Data
Look for the return of volatility at 0200 GMT when China releases its economic reports. GDP is expected to come in at 6.7%, down slightly from 6.8%. Fixed Asset Investment is expected to come in at 6.0%, down slightly from 6.1%. Industrial Production is estimated to have risen 6.5%, down from 6.8%. Retail Sales are expected to come in at 8.8%, up from 8.5%. Last month’s Unemployment Rate was 4.8%.
Read MoreOil Price Fundamental Daily Forecast – Bloomberg Reporting U.S. Considering Drawing on Strategic Reserve
The trend is now down according to daily chart watchers. What this essentially means it that the sellers are in control and that they are likely to defend the trend by stopping rallies. It also means that they expected to continue to see bearish news that supports their position. Over the week-end, the talk centered on a possible sale of U.S. oil reserves. This would definitely increase supply and weigh on prices. Currently, the United States holds a reserve of about 660 million barrels, and the Trump administration is considering drawing on the country’s oil reserve, according to a Bloomberg report.
Read MoreTrump and U.S Retail Sales Puts the USD in the Spotlight
Softer economic growth in China weighed on risk appetite early in the day, with the U.S – Russia Summit, trade tariff chatter and U.S retail sales figures in focus through the day.
Read MoreBitcoin and Ethereum Price Forecast – BTC Prices Steady
The prices continue to consolidate and range as the lack of fundamentals is clearly showing up in the markets
Read MorePrice of Gold Fundamental Daily Forecast – Focus on Gold’s Relationship with the Dollar Today
If you’re serious about trading the gold market at this time, you have to block out the noise and focus on the price action of the markets that matter. The biggest influences on gold this year have been the U.S. Dollar, interest rates and appetite for risky assets. Geopolitical turmoil has not been a factor.
Read MoreNatural Gas Price Fundamental Daily Forecast – Steady Ahead of New Weather Forecast, Storage Estimates
The market could hold steady on Monday as we approach the May 7 bottom at $2.711. We may not see much action to the downside until the release of the next 10 to 14 day weather forecast and the first round of storage estimates for Thursday’s government report.
Read MoreEUR/USD Daily Price Forecast – EUR/USD Moves Upward Despite ECB Jens Weidmann’s Dovish Comment
The euro continues to trade in a range with the region around 1.16 providing some strong support over the last couple of weeks which has helped it to keep afloat
Read MoreGBP/USD Daily Price Forecast – GBP/USD Continues Upward Movement despite Brexit Woes
The pair has been pretty buoyant which is a surprise considering the fact that the Brexit process is not going exactly to plan
Read MoreBitcoin Cash, Litecoin and Ripple Daily Analysis – 16/07/18
The majors hold on in the early hours following the weekend recovery, with resistance levels in play today as the investors look to break free from the bearish sentiment that has pinned the majors down of late.
Read MoreNew Zealand Dollar Slightly Higher as Inflation Expected to Remain Steady
New Zealand will be releasing its quarterly CPI later tonight. Forecasts point to a 0.5% increase in inflation during the second quarter. The New Zealand Dollar gained 0.07% on Monday morning, trading at 0.6772.
Read MoreDAX Index Forecast – DAX Slows Down Into a Coil
The index has been drawing strength from the global markets and the bottom pickers but the trend appears to be still down
Read MoreForex Daily Outlook – July 16, 2018
Read MoreBitcoin – A Consolidation or Back in the Hands of the Bears
Bitcoin’s looking to consolidate on Sunday’s rally, though much will depend upon the news wires through the day, regulators and governments busy behind the scenes to bring the market into the mainstream on reg front.
Read MoreAUD/USD Forex Technical Analysis – July 16, 2018 Forecast
Based on the early trade, 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 .7422. The main trend is down according to the daily swing chart. However, momentum shifted to the upside with the formation of the secondary higher bottom on July 12. The main trend will change to up on a trade through .7484. A trade through .7360 will signal a resumption of the downtrend.
Read MoreStellar’s Lumen Technical Analysis – Looking Bullish – 16/07/18
A positive start to the day gives the bulls a chance of forming a near-term bullish trend following Stellar’s Lumen bucking the broader market trend last week. The news wires will need to behave though…
Read MoreThe Bancor Hack Aftermath: How Decentralized are Exchanges?
The Bancor hack event has once again called into question the extent to which the Ethereum DAPPs is truly decentralized. This is because Bancor, like many other DAPP developers, has programmed the smart contracts underlying their applications to grant them some degree of authority.
Read MoreGold Price Futures (GC) Technical Analysis – July 16, 2018 Forecast
Based on the early trade, the direction of the August Comex Gold market today is likely to be determined by trader reaction to the steep downtrending Gann angle at $1246.90. Holding inside Friday’s range of $1236.20 to $1248.50 will indicate investor indecision and impending volatility. Look for the price action in the dollar to control the movement in gold futures today.
Read MoreCoinbase Looking Forward and Expand Their Services
Although the crypto market has been disappointing this past year, Coinbase is still expanding its business with new services and working towards to bring institutional customers in the cryptosystem.
Read MoreGold Moves up from 7 Month Low But Risk for Decline Continues to Exist
Gold prices nudged higher in early trade on Monday amid a softer U.S. dollar and slightly weaker Asian shares, after sliding to their lowest in seven months in the previous session.
Read MoreCrude Oil Price Update – Inside Move Suggests Investor Indecision, Impending Volatility
Based on the early price action, the direction of the September WTI crude oil market the rest of the session is likely to be determined by trader reaction to the steep downtrending Gann angle at $68.98. The market is being supported by concerns over spare capacity after the International Energy Agency (IEA) warned that due to increased production from Saudi Arabia and Russia, there is very little room for a major supply disruption. However, pressuring prices is the added supply due to a resumption of Libyan export activities.
Read MoreWhy Banks and Fintech Firms Should Team Up Rather Than Compete With Each Other
While the numbers quoted until now suggest that banks do have something to worry about, truth is that traditional financial institutions continue to be widely used and profitable. However, this doesn’t mean that the existing banking network isn’t flawed. This is why banks need to collabarate with Fintech companies.
Read MoreCould ILPs Be A Viable Alternative To Initial Coin Offerings?
Following the uncertain nature of ICOs, the market has led to the hunt for a better alternative. There is a potential game changer coming up called Initial Loan Procurements (ILPs) that is causing quite a buzz.
Read MoreEUR/USD Mid-Session Technical Analysis for July 16, 2018
Based on the early trade, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the support cluster at 1.1679 to 1.1680. This is being formed by a combination of an uptrending Gann angle and a 50% level. The single-currency is following through to the upside, following Friday’s closing price reversal bottom and subsequent confirmation earlier today. This could trigger a minimum 2 to 3 day rally.
Read MoreUSD/CAD Daily Price Forecast – USD/CAD Loses Ground As Greenback Feels Pressure Ahead of Trump-Putin Summit
The pair has been chopping around and looking for direction over the last few days
Read MoreWeekly Forex Outlook: July 16-20
The US dollar started playing the role of a safe haven amid the increased trade tensions between the United States and China. In addition, American inflation data allows expecting that the Federal Reserve will raise rates 4 times this year. If the USD index rises above 95.00, the next resistance level will be at 96.00. Support is 94.15.
Read MoreTrump: Summit with Putin Off to “Very Good Start for Everybody”
U.S. retail sales posted a firm gain in June, helped by increases in purchases of motor vehicles and a range of other goods, solidifying expectations for robust economic growth in the second quarter. U.S. West Texas Intermediate crude oil futures plunged below $69, dropping a whopping 3 percent after Treasury Secretary Steven Mnuchin said some oil buyers could get waivers to continue buying Iranian supplies despite American sanctions on the Middle Eastern country.
Read MoreE-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – July 16, 2018 Forecast
Based on the inside move chart pattern, which suggests investor indecision and impending volatility, the direction of the September E-mini NASDAQ-100 Index the rest of the session will be determined by trader reaction to 7414.25 and 7367.00. The short-term range is 7204.50 to 7414.25. If the selling picks up momentum under 7367.00, we could see a break into its 50% level or pivot at 7309.25.
Read MoreE-mini S&P 500 Index (ES) Futures Technical Analysis – July 16, 2018 Forecast
Based on the early higher-high chart pattern and the prolonged move up in terms of price and time, the direction of the September E-mini S&P 500 Index the rest of the session is likely to be determined by trader reaction to Friday’s close at 2803.25. Watch the price action and read the order flow at 2803.25 all session. We’re either going to close over this level and continue the uptrend, or the selling will be strong enough to hold prices below this level and form a closing price reversal top.
Read MoreBest Deals – Amazon Prime Day
Read MoreE-mini Dow Jones Industrial Average (YM) Futures Analysis – July 16, 2018 Forecast
Based on the early price action, the direction of the September E-mini Dow Jones Industrial Average the rest of the session should be determined by trader reaction to Friday’s close at 25004. Based on the earlier higher-high, the direction of the Dow futures contract the rest of the session will be determined by trader reaction to Friday’s close at 25004. Trader reaction to this price will determine whether we’ll move higher, or form a closing price reversal top.
Read More
