2 July 2018
EUR/USD Monthly Forecast – July 2018
The pair has been under a lot of pressure but has been finding support in the 1.15 region
Read MoreGold Monthly Forecast – July 2018
The XAUUSD lost ground against US Greenback hitting new 2018 lows as Dollar gained strength in the broad market despite trade war woes and investors choose to abandon gold as a safe haven, opting for safe-haven currencies over the prospect of better interest rates with cheaper investments.
Read MoreOil Monthly Forecast – July 2018
Crude Oil market saw one of its most volatile price actions during the month of June 2018. The discount between international Crude benchmark Brent and US Crude WTI reached three years high to $11 per barrel in the first half of month but narrowed to nearly $5 per barrel which is proof of volatile market environment.
Read MoreBitcoin and Ethereum Price Forecast – BTC Prices Recover
The crypto markets have rebounded a bit but continue to be in range
Read MoreUSD/JPY Fundamental Daily Forecast – Technical Buying, Firmer Treasury Yields Underpinning Dollar/Yen
The USD/JPY will continue to move higher if the ISM Manufacturing PMI report comes in better than expected. Gains could be limited, or prices could retreat on a weaker number, however, the entire rally is not likely to be derailed unless the number declines enough to raise questions about the pace of Fed rate hikes this year.
Read MoreAUD/USD and NZD/USD Fundamental Daily Forecast – Pressured by Weaker Global Equity Markets
Based on the early price action on Monday, it looks like the direction of the AUD/USD and NZD/USD will be determined by investor demand for risk. The Forex pairs are likely to remain under pressure all session as long as global equity markets continue to fall.
Read MoreDAX Index Forecast – DAX Continues to Consolidate
The index has been unable to push through and close above the 12300 region
Read MoreOil Price Fundamental Daily Forecast – Pressured by Increased Saudi Production, Possible Lower Asian Demand
Volatility will be at heightened levels today because the news is affecting both the supply and demand sides of the equation. Futures are under pressure early Monday amid an increase in supply from top exporter Saudi Arabia. Traders were also reacting to signs of an economic slowdown in Asia, which could hurt demand.
Read MorePrice of Gold Fundamental Daily Forecast – Pressured by Safe-Haven Demand for Dollar, Treasurys
The catalyst behind the flight-to-safety buying is likely to be demand for risk. Therefore, the key indicator of direction today is likely to be the movement in the U.S. equity markets.Taking out last week’s low at $1246.90 will signal a resumption of the downtrend. This would put the market in a position to challenge a bottom not seen since July 7, 2017 at $1230.70.
Read MoreEUR/USD Price Forecast – EUR/USD Opened Dovish for the Week amid Political Conflicts in Germany
The pair has come under pressure due to geopolitical developments
Read MoreNatural Gas Price Fundamental Daily Forecast – Sellers Going After Series of Bottoms in Anticipation of Cooler Temps
The price action early Monday suggests that traders anticipated the heat for the first week of July, making the spot market well-supplied. Potentially pressuring prices were forecasts which showed heat in the short- and medium-term easing off by mid-July.
Read MoreGBP/USD Price Forecast – GBP/USD on Bear’s Grip over Brexit Related Weekend Headlines
The volatility in this pair could pick up in the coming week
Read MoreForex Daily Outlook – July 2, 2018
Read MoreA Bullish Case for the USD
Read MoreBitcoin Cash, Litecoin and Ripple Daily Analysis – 02/07/18
It’s another poor start to the day, with the majors seeing red early on following last week’s losses, though there could be a bounce later in the day should the news wires remain investor friendly.
Read MoreBitcoin – Does Red at the Start of the 3rd Quarter Spell Trouble?
Bitcoin is eyeing a possible second consecutive day of losses at the start of the 3rd quarter, with the Bitcoin bears still firmly in control and likely to remain so through the early part of the month. Avoiding sub-$6,000 levels will be key this week.
Read MoreEUR/USD Mid-Session Technical Analysis for July 2, 2018
Based on the current price at 1.1641, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at 1.1649. Trader reaction to 1.1649 will tell us if aggressive counter-trend buyers are coming into the market, or if sellers are increasing pressure.
Read MoreMonero Technical Analysis – Looking to Make a Move – 02/07/18
Monero’s XMR is looking to buck the trend, following solid gains last week, but with investors quick to lock in profits, the broader market reversal at the start of the week may ultimately take its toll.
Read MoreGold Slips On Positive US Inflation Data
Gold prices edged lower on Monday as the dollar firmed after last week’s U.S. inflation data supported the Federal Reserve’s outlook for future interest rate increases.
Read MoreNew Book Leads To Speculation About the Return Of Bitcoin Founder Satoshi Nakamoto
There has been a cloud of mystery behind Satoshi Nakamoto, the man or organization that set the cryptocurrency ball rolling and the media had given up on uncovering the real identity. However, those hopes have been revived this week following rumors that Satoshi is writing a book.
Read MoreRisk off to Start the Week as Germany’s Coalition Strains, Global Stocks in the Red
Political tension in Germany is dominating the headlines as we start a new week. Global stocks trade lower; the Euro, Yuan and Mexican Peso fall on trade war fears.
Read MoreAUD/USD Forex Technical Analysis – July 2, 2018 Forecast
Based on the early price action and the current trade at .7367, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the pivot at .7386. It’s also a risk-off day with Chinese stock markets down about 2.5 percent. In the U.S., the Dow is down triple-digits. This is helping to drive investors into the safety of the U.S. Dollar and U.S. Treasury yields.
Read MoreUSD/CAD Price Forecast – USD/CAD Capped Below 1.32 Handle As Recovery Move Failed
The USDCAD rebounds a bit but unlikely to go far
Read MoreE-mini S&P 500 Index (ES) Futures Technical Analysis – July 2, 2018 Forecast
Based on the early trade, the direction of the September E-mini S&P 500 Index is likely to be determined by trader reaction to the 50% level at 2695.75. The Fibonacci level at 2672.25 is very important because it is the trigger point for an acceleration to the downside. The next main bottom under this level is 2595.75.
Read MoreCrude Oil Price Update – Set-Up for Rally, or Closing Price Reversal Top?
Based on the early price action, the direction of the August WTI Crude Oil futures market will be determined by trader reaction to the steep uptrending Gann angle at $73.40. This angle, moving up at a rate of $1.00 per day, has been guiding the market higher since the June 18 main bottom at $63.40.
Read MoreGold Price Futures (GC) Technical Analysis – July 2, 2018 Forecast
Based on the early trade, the direction of the August Comex Gold futures contract is likely to be determined by trader reaction to the steep downtrending Gann angle at $1254.40. A trade through $1257.10 will confirm the closing price reversal bottom. If this occurs, we could see the start of a 2 to 3 day counter-trend rally.
Read MoreE-mini Dow Jones Industrial Average (YM) Futures Analysis – July 2, 2018 Forecast
Based on the early trade, the direction of the Dow the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at 24156.
Read MoreE-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – July 2, 2018 Forecast
Based on the early price action, the direction of the September E-mini NASDAQ-100 Index is likely to be determined by trader reaction to the Fib level at 7047.75. A trade through 6956.00 will negate the closing price reversal bottom and signal a resumption of the downtrend. The minor trend will change to up on a move through 7123.75. This will also confirm the shift in momentum to the upside.
Read MoreStock Markets in Asia, Europe Already Feeling the Tariffs Pinch
We’re going to continue to see reactions and counter-trend reactions in the U.S. stock markets because the direct economic damage from the tariffs imposed on the U.S. appears to be relatively contained, at least for now. However, stock markets in Asia and Europe are likely to start feeling selling pressure now.
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