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7 July 2018

Below you can find our 7 July 2018 posts archive, organized chronologically.
  • AUD/USD daily chart, July 09, 2018

    AUD/USD Price Forecast – Aussie dollar rallies right into resistance

    The Australian dollar rallied after the jobs never came out during the trading session on Friday, as the Americans added 219,000 to the payrolls on June. This gave us a bit of a “risk on” scenario, but the 0.7450 level has offered resistance, just as the 0.75 level will above there. Because of this, I am very leery about going long in this market and suspect that people will be concerned about holding this position over the weekend.

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  • EUR/USD daily chart, July 09, 2018

    EUR/USD Price Forecast – euro rallies after strong jobs number

    The EUR/USD pair rallied significantly after the strong jobs number out of the United States, as the Americans added 219,000 jobs for the month of June. As I record this, the market is attempting to cross the 1.1750 level, an area that has been important in the past on short term charts.

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  • GBP/JPY daily chart, July 09, 2018

    GBP/JPY Price Forecast – British pound rally slightly against Japanese yen on Friday

    The British pound rally slightly against the Japanese yen during trading on Friday after the positive job report of the United States which kicked off a bit of a “risk on” attitude. However, there is a significant amount of resistance above in the form of the top of the shooting star from Thursday, and at this point it does not look like we are going to be able to break above that.

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  • GBP/USD daily chart, July 09, 2018

    GBP/USD Price Forecast – Goldilocks job report brings risk appetite back

    During the Friday session, the United States added 219,000 jobs, perhaps suggesting to some traders out there that the Federal Reserve would have to slow down its rate hike schedule. Whether this is true or not remains to be seen, but certainly it appears that the initial reaction to these numbers will continue to support a softer US dollar.

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  • USD/JPY daily chart, July 09, 2018

    USD/JPY Price Forecast – US dollar choppy against yen

    The greenback made a slight gain against the Japanese yen during Friday’s trading session after the 219,000 jobs for the month of June report was released. However, this point it looks very likely that we continue to be an around sideways, as is typical during the sessions.

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  • Gold daily chart, July 09, 2018

    Gold Price Forecast – gold finding support at crucial level

    Gold markets fell initially during the trading session on Friday but have turned around for a hammer. The $1250 level, an area that I have mentioned more than once, looks to be offering support. This is a good sign.

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  • Natural gas daily chart, July 09, 2018

    Natural Gas Price Forecast – natural gas continues to look sluggish

    Natural gas markets did rally a bit during the day on Friday and gaining about 0.5% as a record this video. However, there are several shooting stars ahead, showing just how hard it has been to keep the gains in this market. That’s not a huge surprise though, weather reports are pointing toward lower temperatures in North America, and that of course will drive down demand.

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  • Crude Oil daily chart, July 09, 2018

    Crude Oil Price Forecast – crude oil continues to slump on Friday

    Crude oil markets pullback to be during the day on Friday, but this isn’t to say that I am bearish. Quite the opposite, I believe that this is a pullback that was necessary, and I think it should offer plenty of value given enough time. When the market gets overdone like we had seen, I love seeing these pullbacks as it offers a nice trading opportunity.

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  • Silver daily chart, July 09, 2018

    Silver Price Forecast – Silver markets drift lower but find support

    Silver markets drifted a little bit lower during the trading session on Friday but found support underneath as the $16 level continues to be an area of interest. I also believe that there is even more support underneath, and therefore this is a market that I have no interest in shorting. Ultimately, I believe that the market will eventually find a reason to rally, and once it does we will see a move towards the top of overall consolidation.

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  • S & P 500 daily chart, July 09, 2018

    S&P 500 Price Forecast – boost after the jobs report continues recovery

    The S&P 500 got a little bit of a boost during the trading session on Friday, as we have broken above the 2740 level after the jobs number four June came out. By adding 219,000 jobs to the marketplace, the American economy looks as if it is still in significantly bullish form.

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  • AUD/USD weekly chart, July 09, 2018

    AUD/USD Weekly Price Forecast – Aussie dollar forms yet another hammer

    The Australian dollar fell initially during the week again, has made a fresh new low, and then turned around and form a hammer for the third week in a row. This shows just how resilient this pair is going to be, and it makes quite a bit of sense considering that there are so many conflicting headlines.

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  • EUR/USD weekly chart, July 09, 2018

    EUR/USD Weekly Price Forecast – Euro rallies after initially falling during the week

    The Euro rallied after initially falling during the week, showing signs of life yet again. It looks as if after the jobs number on Friday the trading community is looking to the EUR as a potential way to pick up a bit of profit.

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  • GBP/JPY weekly chart, July 09, 2018

    GBP/JPY Weekly Price Forecast – continued sideways action

    The British pound has done very little against the Japanese yen during the week, which of course makes a lot of sense as there was a major “risk” event coming out on Friday in the forms of the US jobs number, but also, we have a lot of concerns when it comes to the Asian markets with potential trade wars.

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  • GBP/USD weekly chart, July 09, 2018

    GBP/USD Weekly Price Forecast – British pound rally slightly during the week

    The British pound continues to be very noisy in general, as we have around the 1.32 level in general. It looks as of the 1.30 level underneath is trying to for some type of significant support barrier, and at this point I think it’s very difficult to imagine that this market will break down below it. In fact, I think the only thing keeping this market down is the uncertainty between the UK and the EU.

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  • USD/JPY weekly chart, July 09, 2018

    USD/JPY Weekly Price Forecast – US dollar struggles against Japanese yen

    The US dollar struggled against the Japanese yen during the week, initially trying to break out to the upside but found the ¥111 level be far too much yet again. Because of this, it looks as if we continue the sideways action. However, I do see some signs of positivity.

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  • Gold weekly chart, July 09, 2018

    Gold Weekly Price Forecast – supportive looking week

    Gold markets finally found a bit of a bottom at the $1240 level during the week and have rallied quite nicely to form a nice-looking hammer. At this point, I think that the market may turn around and a break above the $1260 level could be the key to go higher.

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  • Natural gas weekly chart, July 09, 2018

    Natural Gas Weekly Price Forecast – natural gas falls for most of the week

    Natural gas markets fell during most of the week over the last five sessions, which of course is no massive surprise as we continue to see temperatures moderate in the United States, driving down demand. However, there is a significant support level just below so this we could be rather choppy.

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  • Crude Oil weekly chart, July 09, 2018

    Crude Oil Weekly Price Forecast – crude oil running out of momentum?

    Crude oil markets have been on an absolute terror lately, but this past week have seemed to find a bit of resistance and perhaps have gotten a little ahead of themselves. At this point, I think that the market is probably due for a correction, but it should be just that: a correction.

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  • Silver weekly chart, July 09, 2018

    Silver Weekly Price Forecast – Silver markets find support

    Silver markets initially fell during the week but have found enough support around the $16 level to form a hammer. This is impressive, because it’s exactly where you need to see it to have some faith in this market recovering.

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  • S & P 500 weekly chart, July 09, 2018

    S&P 500 Weekly Price Forecast – S&P 500 bounces for the week

    The S&P 500 initially fell during the week, reaching down towards the 2700 level. However, that support level has offered enough support to turn things around and form a bullish candle. The jobs report on Friday help the situation as well.

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  • consensus

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

    It’s a mixed start to the day and, while some of the majors are in positive territory for the week, a weekend rally is going to need to kick in to avoid a reversal that could leave the majors in the red by the end of Sunday.

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  • BTC/USD daily chart, June 18, 2018

    Bitcoin – Can a Weekend Rally Deliver $7,000?

    It’s a slow start to the weekend and the Bitcoin bulls are going to have to come out of hiding for the prospects of a bearish trend reversal to begin forming. The near-term target continues to be a hold at $6,700 levels.

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  • Yield Curve

    Stocks Finish Week Higher, but Yield Curve Suggests Recession on the Horizon

    Although the performance in the U.S. equity markets suggests investors are not too concerned about escalating trade tensions between the United States and its major trading partners in China and the European Union, the price action in the Treasury markets indicates investors are being cautious and taking some protection against a possible economic downturn.

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  • eur/usd

    Led by Strong Euro, Dollar Tumbles Against Basket of Major Currencies

    Concerns over a fourth rate hike in 2018 and safe-haven buying due to the escalation of the trade dispute between the United States and China, drove U.S. Treasury yields lower. This made the U.S. Dollar a less attractive investment against the Australian, New Zealand and Canadian Dollars. Additionally, the tightening of the spread between U.S. Government bond yields and Japanese Government bond yields, pressured the USD/JPY last week.

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  • Crude Oil

    Oil Price Fundamental Weekly Forecast – Supply Issues Leave Little Room for Error

    How much oil is supplied or taken off the market will determine whether WTI crude oil surges to $80 per barrel, or plunges to $62 – $63 per barrel.

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  • Gold Bars and Dollar

    Price of Gold Fundamental Weekly Forecast – Falling Yields, Weaker Dollar Underpinning Gold Prices

    The fear is that the flattening yield curve could invert, meaning that short-term rates would exceed longer-term yields. This action is typically viewed as a recession signal. A recession signal itself may not be enough to derail the Fed’s plans to raise interest rates two more times this year, but it could mean they cut back to just one. This would likely lead to an extension of the rally in gold.

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  • Natural Gas

    Natural Gas Price Fundamental Weekly Forecast – Strengthens Over $2.885, Bearish Under $2.848

    This week, prices could rise if the heat dome currently dominating most of the U.S. continues beyond mid-month. However, the initial phase of any rally is likely to be fueled by short-covering. This means it won’t last and may not even be enough to recapture the psychological $3.00 level.

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