22 September 2018

Below you can find our 22 September 2018 posts archive, organized chronologically.
  • Interest Rates

    US Treasury Yields Dip Ahead of Next Week’s FOMC Rate Decision

    On September 26, the Fed is widely expected to raise the federal funds rate by a quarter-point. This will push the funds target to 2 percent to 2.25 percent, where it last was more than 10 years ago. It was a light day on Friday as far as U.S. economic data was concerned. Flash Manufacturing PMI came in better-than-expected. Flash Services PMI was below the forecast. The flash reading of IHS Markit’s U.S. Composite PMI Output Index for September was 53.4, down from 54.7 last month and the lowest it has been in 17 months.

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  • Cryptocurrencies July

    Bitcoin Cash, Litecoin and Ripple Daily Analysis – 22/09/18

    It’s a sea of red in the early hours as investors look to lock in profits, an afternoon recovery dependent upon the news wires through the day.

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  • bitcoin eth

    Bitcoin – Bulls Look for a Weekend Rally and $7,000 Levels

    Bitcoin hits resistance at $6,800 in the early hours to pullback to $6,700 levels as the bulls go in search of $7,000.

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  • AUD/USD daily chart, September 24, 2018

    AUD/USD Price Forecast – Australian dollar dips to end the week

    The Australian dollar has rallied over the last several days but did see a lot of negativity heading into the US session on Friday. With the dip, we tested the 0.7250 region, before finding a little bit of buying pressure.

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  • EUR/USD daily chart, September 24, 2018

    EUR/USD Price Forecast – Euro fails at major resistance

    The Euro fails at major resistance during the early hours on Friday, as we continue to see the 1.18 level offer major supply.

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  • GBP/JPY daily chart, September 24, 2018

    GBP/JPY Price Forecast – British pound collapses on Friday

    The British pound collapsed on Friday, slicing through the previous downtrend line that had been resistance. By wiping out as much value as we have, it shows just how fickle the markets are going to be to headlines.

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  • GBP/USD daily chart, September 24, 2018

    GBP/USD Price Forecast – British pound collapses on Friday as May stands tough

    The British pound fell apart during the trading session on Friday, as Teresa May stated that she was sticking with her plan and wasn’t willing to bend watch when it comes to dealing with the European Union. With that being the case, the market looks very likely to continue to be very volatile.

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  • USD/JPY daily chart, September 24, 2018

    USD/JPY Price Forecast – US dollar quiet against Japanese yen

    The US dollar was relatively quiet during the trading session on Friday, after initially rallying. The pair tends to be correlated to the stock markets overall, which had been a bit more positive early in the day.

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  • Gold daily chart, September 24, 2018

    Gold Price Forecast – Gold markets get hammered on US dollar strength

    Gold markets got hammered during the trading session on Friday, as the $1215 level has offered too much in the way of resistance. Ultimately, this is a market that is reacting to the US dollar in general, which of course got a lift after volatility in the British pound.

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  • Natural gas daily chart, September 24, 2018

    Natural Gas Price Forecast – natural gas markets continue to grind higher

    Natural gas markets continue to grind higher on Friday, reaching towards the $2.97 level where we are starting to see more resistance come into play. As we go into the weekend, I suspect a lot of people don’t want to put money to work beyond what’s already out there.

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  • Crude Oil daily chart, September 24, 2018

    Crude Oil Price Forecast – crude oil markets all over the place on Friday

    Crude oil markets were all over the place on Friday, based upon a lot of different moving pieces. Not the least of which would have been a searching US dollar.

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  • Silver daily chart, September 24, 2018

    Silver Price Forecast – Silver markets volatile and skittish on Friday

    Silver markets dropped rather drastically during the day on Friday as the US dollar strengthened against the British pound. This was because of the Teresa May statement that there might be a no deal Brexit, and that of course spooked a lot of currency traders. The rising dollar of course work against the value of silver, but then we turned around and bounce just as violently on the opposite direction.

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  • S & P 500 daily chart, September 24, 2018

    S&P 500 Price Forecast – stock markets quiet through quadruple witching

    With the quadruple witching on Friday, there are a lot of options expiring. Because of this, I think a lot of people simply stayed out of the market, which quite frankly was probably the best move.

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  • AUD/USD weekly chart, September 24, 2018

    AUD/USD Weekly Price Forecast – Australian dollar rallies for the week

    The Australian dollar has exploded to the upside during the trading week, reaching towards the 0.73 handle. We have broken above the top of the previous couple of weeks, and I think it allows this market a little bit of bullish momentum going forward.

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  • EUR/USD weekly chart, September 24, 2018

    EUR/USD Weekly Price Forecast – Euro breaks through the downtrend line

    The Euro broke through a downtrend line during the week, testing the vital 1.18 level above. That’s an area that has been the top of the overall consolidation, so it makes sense that it caused a little bit of resistance. I believe at this point it’s likely that participants are taking a bit of a breather more than anything else.

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  • GBP/JPY weekly chart, September 24, 2018

    GBP/JPY Weekly Price Forecast – British pound turns around drastically

    The British pound turned around rather drastically on Friday, as Teresa May announced that the end result of the Brexit negotiations may be no deal.

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  • GBP/USD weekly chart, September 24, 2018

    GBP/USD Weekly Price Forecast – the British pound gets pummeled at the end of the week

    The British pound initially tried to rally during the week, reaching towards the 1.33 level before pulling back to form a massive shooting star. This was in a negative sign, and I think it shows that we continue to follow the occasional headline as to where to go next. It looks as if the British pound is ready to roll over for a while, as Teresa May has suggested that the Brexit may be without a deal.

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  • USD/JPY weekly chart, September 24, 2018

    USD/JPY Weekly Price Forecast – US dollar pressing downtrend line

    The US dollar is pressing the downtrend line from a larger consolidation area in the form of a symmetrical triangle. If we can break above the weekly candle stick, that could be a very good sign. However, in the current trade war environment it’s hard to tell whether that’s going to happen or not.

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  • Gold weekly chart, September 24, 2018

    Gold Weekly Price Forecast – Gold markets struggle during the week again

    Gold markets tried to rally during the week but found the $1215 level to be too resistive to go higher. In fact, we have formed a shooting star for the second week in a row, and that does suggest that we are really starting to try to break down from here.

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  • Natural gas weekly chart, September 24, 2018

    Natural Gas Weekly Price Forecast – natural gas markets rally towards resistance during the week

    Natural gas markets exploded to the upside during the week, reaching towards the vital $3.00 level. This is an area that has offered plenty of resistance in the past, so it’s likely that we could see some selling pressure again.

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  • Crude Oil weekly chart, September 24, 2018

    Crude Oil Weekly Forecast – crude oil markets continue to push higher

    Crude oil markets continue to grind higher, reaching towards the major resistance, but by the time we closed out the week, it looks as if we are still struggling in general.

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  • Silver weekly chart, September 24, 2018

    Silver Weekly Price Forecast – Silver markets looking for support

    Silver markets have rallied during the week, despite the fact that we saw so much in volatility during the day on Friday, ultimately, this is a very choppy market and of course is very dangerous if you get it wrong. However, we are sitting on the top of the major support, so that’s something to pay attention to.

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  • S & P 500 weekly chart, September 24, 2018

    S&P 500 Weekly Price Forecast – stock markets continue to show strength

    The S&P 500 initially fell during the week but continues to find support as we bounced back above the 2900 level, forming a bullish looking candle with high-volume by the end of the week.

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  • Crude Oil

    China Cancels Trade Meeting, OPEC May Raise Production by 500K

    China dropped a potential bombshell late Friday when it canceled planned trade discussions with the United States. Gold prices edged lower on Friday as the U.S. Dollar firmed on renewed concerns over escalating trade tensions between the United States and China. A report showed OPEC and its allies were considering a coordinated increase in crude production.

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  • US Dollar 5

    Receding Risk Aversion Drives Dollar Lower Against Most Major Currencies

    The U.S. Dollar finished lower against a basket of major currencies last week after an easing of tensions over the trade dispute between the United States and China encouraged investors to lift dollar hedges. The Reserve Bank of Australia (RBA) warned on risks to its outlook from U.S.-China trade tensions and weak wages, while reaffirming its next interest rate move would likely be a hike. The New Zealand Dollar was boosted after data showed its economy grew at a faster pace than expected in the second quarter. The Bank of Japan (BOJ) reiterated last Wednesday that it would keep interest rates extremely low “for an extended period,” holding to forward guidance it first introduced in July.

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  • New Zealand Notes

    NZD/USD Forex Technical Analysis – Trade Through .6667 Confirms Reversal Top, Targets .6600

    Based on Friday’s close at .6680, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the 50% level at .6675. Late Friday, China canceled the trade talks with the U.S. This is potentially bearish so watch the downside early Monday.

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    USD/JPY Forex Technical Analysis – Risk Off Session Could Pressure Dollar/Yen Early

    Based on Friday’s close at 112.548 and the late session selling pressure, the direction of the USD/JPY on Monday is likely to be determined by trader reaction to Friday’s low at 112.430. The USD/JPY could feel some pressure early Monday so be prepared. Late Friday, China announced it would not continue trade talks with the U.S. This raises the stakes in the trade dispute. We could be looking at a “risk off” day.

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