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27 July 2018

Below you can find our 27 July 2018 posts archive, organized chronologically.
  • U.S. Stock Market

    Early U.S. Trade: Stock Futures Higher After Mixed Amazon Earnings, Ahead of U.S. GDP Report

    After the close, Amazon reported mixed results for its second-quarter earnings. Earnings blew away the estimates, but revenue narrowly missed to the downside. Third-quarter sales guidance also fell short of street estimates. Despite the mixed results, shares of Amazon were trading about 3 percent higher during the extended trading session.

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  • AUD/USD daily chart, July 27, 2018

    AUD/USD Price Forecast – Australian dollar falls significantly on Thursday

    The Australian dollar fell significantly during the trading session on Thursday, reaching towards the 0.74 level. The market continues to be very volatile overall, as it is a proxy for Asian markets. I believe that the market will continue to offer plenty of opportunities though, and the recent breakout will probably continue to show the struggles going forward as we have completely wiped it out.

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  • EUR/USD daily chart, July 27, 2018

    EUR/USD Price Forecast – Euro falls from resistance ahead of ECB meeting

    The Euro fell after initially trying to break above the 1.1750 level. That’s an area that offered a significant amount of resistance, not only during the session on Thursday, but at previous times before. Because of this, I think we continue to struggle overall but it looks as if we are trying to form some type of bottoming pattern.

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  • GBP/JPY daily chart, July 27, 2018

    GBP/JPY Price Forecast – British pound continues to hover

    The British pound continues to hover around the ¥146 level, as an area of interest. We are at extremely low levels, but I think at this point we are trying to form a basing pattern and I still believe that it’s only a matter time before “The Dragon” bounces from here and goes much higher. That doesn’t mean it will happen overnight, but we certainly should see value hunters continue to come into this market.

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  • GBP/USD daily chart, July 27, 2018

    GBP/USD Price Forecast – British pound pulls back from round number

    The British pound has pulled back from the 1.32 level, an area that of course will have a psychological bit of resistance billed and as it is a large, round, whole number. However, I think that the true significant resistance is probably closer to the 1.3250 level.

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  • USD/JPY daily chart, July 27, 2018

    USD/JPY Price Forecast – US dollar bounces during Thursday session

    The US dollar bounced a bit during the trading session on Thursday near the ¥110.50 level. The market looks as if it is trying to find some type of bottom here, but obviously we will have some work to do. I believe that the ¥110 level underneath there is even more supportive.

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  • Gold daily chart, July 27, 2018

    Gold Price Forecast – Gold continues to follow trend line

    Gold markets were slightly negative during the trading session on Thursday, reaching towards the hourly trend line that has been pushing prices higher. I believe the Gold markets are probably a bit oversold, but I also recognize that there is much more support from a psychological standpoint at the $1200 level.

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  • It’s Another Dollar Day with 2nd Quarter Growth in Focus

    It’s all about the USD today, with GDP numbers north of 4% likely to see a jump in the USD and U.S equity markets. Sub-4% and Trump might blame the FED.

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  • Natural gas daily chart, July 27, 2018

    Natural Gas Price Forecast – natural gas markets pulled back from rally

    Natural gas markets initially tried to rally during the trading session on Thursday, reaching towards the $2.79 level where we found sellers to push the market back down. This is a region that I think is very resistive, and I think there is plenty of supply in this area. In fact, we have already started to roll back over.

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  • Crude Oil daily chart, July 27, 2018

    Crude Oil Price Forecast – crude oil markets flat during Thursday trading

    Crude oil markets were relatively flat during trading on Thursday, as we are pressing against significant resistance just above. Because of this, I think that the market may take a bit of a breather before making its next move.

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  • Silver daily chart, July 27, 2018

    Silver Price Forecast – Silver markets testing uptrend line

    The silver market fell a bit during the trading session on Thursday, reaching down towards the uptrend line. The uptrend line on the hourly chart has been somewhat reliable sense we bounced from the lows, and I think it’s likely that this market will be reacting.

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  • S & P 500 daily chart, July 27, 2018

    S&P 500 Price Forecast – buyers continue to return

    The S&P 500 went flat initially in the CFD markets ahead of US trading, but the buyers came back to push the market to the upside again. It looks as if we are ready to try to break out to the upside and continue the longer-term uptrend, and therefore I believe that the market continues to be a bit of a “buy on the dips” scenario.

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  • Alt Coins daily chart, June 08, 2018

    Bitcoin Cash, Litecoin and Ripple Daily Analysis – 27/07/18

    It’s a slow start to the day, but there should be some support through the day, following Thursday’s reversal, the news not bad enough to justify the moves.

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  • AUD/USD

    AUD/USD Forex Technical Analysis – Strengthens Over .7397, Weakens Under .7374

    Based on the early trade, the direction of the AUD/USD on Friday is likely to be determined by trader reaction to the short-term Fibonacci level at .7374. The main trend is up according to the daily swing chart, however, the lack of follow-through to the upside after the change in trend earlier in the week, suggests the buying has been fueled by buy stops rather than aggressive investors willing to buy strength.

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  • Three Things to Know Before You Buy

    Bitcoin – The Reversal Complete, Almost…

    SEC ruling on a Bitcoin ETF request hits Bitcoin and the broader markets, though the news was not bad enough to fully reverse the week’s gains.

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  • New Zealand Kiwi Dollar

    NZD/USD Forex Technical Analysis – Strengthens Over .6773, Weakens Under .6765

    Based on the early price action, the direction of the NZD/USD is likely to be determined by trader reaction to the 50% level at .6773. The main trend is up according to the daily swing chart. It turned up on Thursday when buyers took out .6851. The lack of follow-through to the upside, however, suggests that the buying may have been fueled by short-covering and buy stops rather than aggressive new buying. Yesterday’s rally also fell short of the next main top at .6859, which looks more important on the daily chart. The main trend may be up, but momentum shifted to the downside with the formation of the closing price reversal top at .6851.

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  • crypto

    NEO Technical Analysis – Eyeing Resistance Levels – 270718

    NEO sits in positive territory early on but is going to need to break back to $35 levels to support the start of a weekend rally.

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  • USD/JPY

    USD/JPY Forex Technical Analysis – Strengthens Over 111.250, Weakens Under 110.868

    Based on the early trade, the direction of the USD/JPY today is likely to be determined by trader reaction to 111.250 and 110.868. Despite the current sharp sell-off, the main trend is still up according to the daily swing chart. However, momentum is trending lower. A trade through 110.280 will change the main trend to down with 109.360 the next potential target.

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  • Bitcoin Friday

    Bitcoin and Ethereum Price Forecast – BTC Prices Correct

    The BTC prices fell below the $8000 region as a form of a correction of the move higher that we have been seeing over the last week or so

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  • Euro

    EUR/USD Daily Price Forecast – EUR/USD Drops Post Comment from Draghi on Interest Rate

    The bullishness that the euro had got from the fair progress in the trade talks with the US has not lasted long

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  • Crude Oil

    Oil Price Fundamental Daily Forecast – GDP Over 4.1 Could Trigger Spike to Upside

    Traders will likely react to today’s U.S. second-quarter Gross Domestic Production report at 1230 GMT. It is expected to show the economy grew by 4.0%, up from 2.0%. Anything north of 4.0% could be bullish for prices because strong economic growth will mean greater demand for crude oil.

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  • GBPUSD Friday

    GBP/USD Daily Price Forecast – GBP/USD Holds Steady at 1.31 Handle despite Steep Fall in Price Movement

    The pair has been able to hold on to its range and the support region at 1.30 despite uncertainty and confusion

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  • Comex Gold

    Price of Gold Fundamental Daily Forecast – GDP Number Over 4.1 Percent Could Crush Gold Prices

    Remember that according to government trading data, money managers are now net short. At this point, they can either continue to build a short position, or aggressive counter-trend buyers could step in. However, there is going to have to be a major shift in U.S. interest rates, the Dollar and demand for risky assets in order at attract enough buyers to change sentiment.

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  • Gold Friday

    Precious Metals Stable Slightly Above Yesterday’s Lows

    The gold prices have come under pressure once again over the last few hours

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  • Natural Gas

    Natural Gas Price Fundamental Daily Forecast – Hedgers Could Allow Market to Hit $2.831 Before New Shorts Take Over

    This week’s price action indicates that a few of the weaker short-sellers have been taken out of the market. For week’s investors had shrugged off weak storage numbers, but Thursday’s reaction was different. I don’t expect the current rally to last very long. In our opinion, it’s just a matter of whether the major players allow prices to rally into the nearest resistance zone at $2.831 to $2.869 before new shorts are placed. Given the current conditions, I don’t think the major short-sellers will be too interested in selling weakness.

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  • DAX Friday

    DAX Index Forecast – DAX On a Strong Footing

    The index has moved above the 12800 region as the impact of the smooth progress of the trade talks continue to be felt

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  • EUR/USD

    EUR/USD Mid-Session Technical Analysis for July 27, 2018

    Based on the early price action, the direction of the EUR/USD is likely to be determined by trader reaction to the Fibonacci level at 1.1643. Watch for volatility at 1230 GMT with the release of the U.S. GDP report. The estimate is 4.0 percent. The EUR/USD could break sharply if the number comes in above 4.1 percent.

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  • USDCAD Weekly

    USD/CAD Daily Price Forecast – USD/CAD Moved To Mid 1.30 Handle Amid Soft USD Greenback

    The pair has been trying to build a base over the last couple of days in order to try and move back higher

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  • Comex Gold

    Gold Price Futures (GC) Technical Analysis – July 28, 2018 Forecast

    Based on the early trade, the direction of the December Comex Gold market today will be determined by trader reaction to the pivot at $1232.90. At 1230 GMT, look for heightened volatility as investors react to the GDP data. If the GDP number comes in higher than expected then gold could break sharply with the psychological $1200.00 level the next target.

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  • Crude Oil

    Crude Oil Price Update – Strengthens Over $70.42, Weakens Under $69.64

    Based on the early price action, the direction of the September WTI crude oil market is likely to be determined by trader reaction to the 50% level at $69.64. Traders will likely react to today’s U.S. second-quarter Gross Domestic Production report at 1230 GMT. It is expected to show the economy grew by 4.0 percent, up from 2.0 percent. Anything north of 4.1 percent could be bullish for prices because strong economic growth will mean greater demand for crude oil.

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  • King Dollar stands tall ahead of GDP fxtm academy

    Global risk sentiment remains somewhat supported by easing trade tensions between Washington and Brussels with stock markets poised to conclude the trading week on a firm footing.

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  • E-mini S&P 500 Index

    E-mini S&P 500 Index (ES) Futures Technical Analysis – July 27, 2018 Forecast

    Based on the early trade, the direction of the September E-mini S&P 500 Index on Friday will be determined by trader reaction to 2849.50. Taking out 2849.50 then breaking back under 2841.25 will indicate the selling is greater than the buying at current price levels. This could lead to the formation of a potentially bearish closing price reversal top.

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  • E-mini Dow Jones Industrial Average

    E-mini Dow Jones Industrial Average (YM) Futures Analysis – July 27, 2018 Forecast

    Based on the early price action, the direction of the September E-mini Dow Jones Industrial Average futures contract is likely to be determined by trader reaction to 25555. The Dow is also susceptible to a possible closing price reversal top. A trade under yesterday’s close at 25525 will put the market in a position to form a reversal top. This move will not mean the trend is getting ready to turn lower, but it will indicate the selling is greater than the buying at current price levels.

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  • E-mini NASDAQ-100 Index

    E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – July 27, 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 50% level at 7420.75. Despite Thursday’s steep sell-off, the index is still in a position to close higher for the week.

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  • US Economy

    US GDP Grows at Fastest Pace Since 2014; Stocks Weaken as Twitter, Intel Disappoint

    The 4.1 percent pace represents the fastest rate of growth since the 4.9 percent in the third quarter of 2014 and the third-best growth rate since the Great Recession. U.S. consumer sentiment declined in July according to the University of Michigan. The index fell to 97.9 from 98.2 in June, as both the assessment of current economic conditions and expectations fell. Economists had forecast a 97.3 reading. The major U.S. equity markets are trading lower shortly before the close on Friday as the strong U.S. economic growth report took a backseat to poor earnings from Intel and Twitter.

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