21 July 2018

Below you can find our 21 July 2018 posts archive, organized chronologically.
  • Bitcoin Cash, Litecoin and Ripple Daily Analysis – 21/07/18

    It’s a bad start to the weekend, with only a few majors in positive territory as the bears regained control. A weekend rally would restore confidence.

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  • AUD/USD daily chart, July 23, 2018

    AUD/USD Price Forecast – Australian dollar jumps on Trump comments

    The Australian dollar jumped during the trading session on Friday, after finding support yet again near the 0.7325 handle. Beyond that, President Trump tweeted that he thought of the central banks around the world were taken advantage of keeping interest rates lower while the United States continue to raise theirs. Traders around the world thought this was a signal the perhaps we were stepping away from interest rate hikes at the Federal Reserve, something that the President has no control over.

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  • EUR/USD daily chart, July 23, 2018

    EUR/USD Price Forecast – Euro explodes to the upside after Trump comments

    The EUR/USD pair was having a fairly quiet Friday, that was until President Donald Trump tweeted that the US dollar was being unfairly strengthened due to soft economic policy by the EU, Japan, and many other countries. Ultimately, I find this a bit ironic, considering that he doesn’t have the power to change monetary policy.

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  • GBP/JPY daily chart, July 23, 2018

    GBP/JPY Price Forecast – Sterling finds support

    The British pound fell again during the day on Friday in the Japanese yen terms, as we reached towards a significant support area in the form of ¥146 and uptrend line. At this point, I think that we are trying to build up enough momentum to bounce, but I also recognize how precarious the situation could be.

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  • GBP/USD daily chart, July 23, 2018

    GBP/USD Price Forecast – Sterling takes off after Trump comments

    The GBP/USD pair rallied rather significantly during the trading session on Friday, reaching towards a critical supply area near the 1.3075 handle after Donald Trump tweeted that the US dollar was being unfairly strengthened as interest rates around the world it remained far too low. For some reason, market participants read this as a sign that interest rates were going to be put on hold in the United States. The funny thing is, he doesn’t have that power and just ½ an hour before one of the Federal Reserve governors reiterated the need to continue to raise rates.

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  • GBP/USD daily chart, July 23, 2018

    USD/JPY Price Forecast – Trump dumps the dollar

    The US dollar fell off a cliff during early trading on Friday in the United States, as President Donald Trump suggested that other currencies around the world were far too cheap and that while the United States was raising interest rates, they were keeping interest rates far too low. Traders saw this as an opportunity to sell the US dollar, as perhaps a sign that he would keep interest rates from rising. Here’s a hint: he doesn’t have that power.

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  • Gold daily chart, July 23, 2018

    Gold Price Forecast – Gold markets rally after Trump comments

    Gold markets rally during the trading session on Friday, breaking towards the $1230 level before running into a bit of resistance. The market had been oversold to begin with, so when Donald Trump suggested that interest rates in America needed to stay lower, that sparked a US dollar selloff.

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  • Natural gas daily chart, July 23, 2018

    Natural Gas Price Forecast – natural gas markets flat on Friday

    Natural gas markets were relatively flat on Friday, as we test the $2.78 level. It looks as if the market is ready to roll over a bit as we approached the 200 hour moving average. Beyond that, there seems to be a lot of supply in the neighborhood, and of course we are in a recent downturn.

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  • Crude Oil daily chart, July 23, 2018

    Crude Oil Price Forecast – crude oil markets gapped lower on Friday

    Crude oil markets got pummeled on Friday as the bearish pressure came back into play immediately. We are covering towards the lows of the week, signaling that perhaps we will see continued selling pressure, and at this point I think that rallies will continue to struggle.

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  • Bitcoin Finds Support When It’s Needed The Most

    Bitcoin sees red in the early part of the day, though support at the 23.6% FIB Retracement Level continues to hold Bitcoin back from bigger losses.

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  • Silver daily chart, July 23, 2018

    Silver Price Forecast – Silver rallies on Trump comments

    Silver markets had a bully session on Friday, gaining over 1% by the time I sat down to write this article. The $15.50 level has offered resistance though, and I think it represents a cluster of major supply. Because of this, I don’t know how much farther we go, at least in the short term.

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  • S & P 500 daily chart, July 23, 2018

    S&P 500 Price Forecast – S&P 500 choppy to end the week

    The S&P 500 was very choppy in the week on Friday, reaching just above where we opened in the CFD market. As I record this, it looks as if the 2810 level is going to offer significant resistance. I think that resistance extends higher, so at this point I don’t think the market is quite ready to take off.

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  • AUD/USD weekly chart, July 23, 2018

    AUD/USD Weekly Price Forecast – Aussie bounces yet again

    The Australian dollar spent most of the week soft but found enough support to turn around of form a hammer yet again. As you can see on the weekly chart, there have been multiple hammers over the last couple of weeks, so it’s obvious to me that there is a massive amount of support just below.

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  • EUR/USD weekly chart, July 23, 2018

    EUR/USD Weekly Price Forecast – Euro finds support again

    The EUR/USD pair spent most of the week falling, but early during the Friday session in New York, President Donald Trump tweeted that he wanted to persuade the Federal Reserve to keep interest rates low. Ultimately, this caused a major surge in the value of the Euro, turning around to form a bit of a hammer.

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  • GBP/JPY weekly chart, July 23, 2018

    GBP/JPY Weekly Price Forecast – Sterling falls but has support underneath

    The British pound fell during the bulk of the week, in terms of Japanese yen. However, there seems to be a significant amount of support just below in the form of the ¥145 level, and we most certainly have not broken below there.

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  • GBP/USD weekly chart, July 23, 2018

    GBP/USD Weekly Price Forecast – Sterling finds support

    The British pound fell initially during the week, reaching below the 1.30 level. However, we have turned around of form a bit of a hammer again, showing just how important this level is. I think that the 1.30 level will continue to be an area where value hunters are willing to step in, and at this point one has to wonder who is left to sell this thing?

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  • USD/JPY weekly chart, July 23, 2018

    USD/JPY Weekly Price Forecast – dollar rallies towards ¥113, but then rolls over

    The US dollar rallied quite a bit during the week, reaching towards the ¥113 level before rolling over. The market found a significant amount of supply in that area, as was seen at the beginning of the year. I believe that the market needed to pull back anyway, it had gotten ahead of itself.

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  • Gold weekly chart, July 23, 2018

    Gold Weekly Price Forecast – Gold markets looking for support

    Gold markets spent the majority of the week falling but got a bit of a reprieve on Friday as Donald Trump suggested that interest rates in the United States should remain low, and perhaps rate hikes should be on hold. Of course, he doesn’t have that power so the market reacting the way it has on Friday is a bit of a head scratcher.

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  • Natural gas weekly chart, July 23, 2018

    Natural Gas Weekly Price Forecast – natural gas market forms a hammer

    Natural gas fell during most of the week but bounced enough off of the $2.70 level to form a hammer, which of course is a bullish sign. This is an area that I have marked as the beginning of significant support extending down to the $2.60 level. I think at this point, we could bounce him here but I also recognize that there is still plenty of selling pressure above.

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  • Crude Oil weekly chart, July 23, 2018

    Crude Oil Weekly Price Forecast – crude oil struggles again

    Crude oil markets fell significantly during the week, reaching down below the lows of the previous week and beyond. However, there are some signs of support below, so I think this next week or two are going to be very crucial as to where we go next in both grades that we follow here at FX Empire.

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  • mortgage rates

    U.S Mortgages – Back in Reverse, But Will It Last?

    Mortgage rates were down again last week, though it remains to be seen whether the downward trend can continue.

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  • Silver weekly chart, July 23, 2018

    Silver Weekly Price Forecast – Silver markets test crucial support for the week

    Silver markets fell during the week, breaking below the $15.00 level, an area that is massive support. Longer-term buyers have come back into the marketplace, and we could not break down below the $15 handle, which I see as the bottom of the “zone.”

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  • S & P 500 weekly chart, July 23, 2018

    S&P 500 Weekly Price Forecast – S&P 500 lackluster during the week

    The S&P 500 has been a bit flat during the week, as we continue to dance around the 2800 level. This is an area that will have a lot of psychological importance attached to it, but I think at this point the overall attitude is one of persistence, so that may win out in the end.

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  • U.S. Stock Market

    Stocks Lower as Trump Threatens to Go All in on Tariffs Against China

    Trump also said the strong gains in the stock market since his election give him the opportunity to wage a trade war, noting: “We’re playing with the bank’s money.” U.S. Treasury yields rose on Friday as investors ignored criticism of U.S. Federal Reserve monetary policy by President Trump.

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