Forecasts & Analysis

GOLD My Bias: Long towards 1550 Wave Structure: ZigZag correction to the upside. Long term wave count: Topping in wave (B) at 1550 Important risk events: USD: CB Consumer Confidence.  Gold has spent the days to hover around the resistance/support level at 1254.63. Today’s high reached 1258.75 which is a solid break of resistance and adds weight to the bullish case … Continue reading Elliott Wave Outlook for GOLD and USD/JPY

Gold The market is trying to go higher in every trading session. The market fell initially but found enough support around the $1250 level and turned around to break above the $1255 level. Dips should be considered a good opportunity to buy into the market as trouble in the dollar will continue for some time … Continue reading Commodities Daily Forecast – July 25, 2017

EUR/USD The pair went through sideways movements on yesterday’s trade and went down towards 1.1625 level which is a support zone also. The market is consolidating before beginning any upward movement. The market will provide traders with a opportunity to buy in dips as the market seems fairly overbought. The 1.15 level is a strong … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 25, 2017

Gold prices were almost unaffected over the good economic data just before the Federal Reserve’s policy meeting later this week. Gold holds near one month high on Tuesday morning at $1254.75. As the Federal Reserve’s policy meeting is scheduled for Wednesday, analysts expect the Fed to keep rates unchanged. Technical Outlook The 100-day moving average crossed above … Continue reading Gold Daily Analysis – July 25, 2017

S&P 500 The S&P 500 initially fell on Monday, but continue to find support near the 2465 handle. Because of this, I think the market will bounce eventually, as this is an area that should be well supported. I think that the market will probably go looking towards the 2470 handle, and then the 2475 … Continue reading Major US Indices Forecast, July 25, 2017, Technical Analysis

The USDCNH pair failed to settle above 6.8450 resistance and pulled back to 6.7400 area, facing the previous low support at 6.7210. As mentioned before, the pullback would possibly be correction of the uptrend from 6.7210. On the downside The pair stays below a descending trend line on its 4-hour chart, with resistance at around … Continue reading USD/CNH Is Facing 6.7210 Support

You’re watching the Support and Resistance Level Report for Tuesday. Here’s how our in-house model tests out. Euro/Dollar is trading in the range limited by R1 of 1 1670 and S1 of 1 1630. Price Channel Indicator Upper Line is among the 8 studies for R1, while R2 is a 2 year high with 2 … Continue reading Tuesday Support and Resistance Levels – July 25, 2017

GBP/USD: Reversal Opportunities Today The Pound has continued to hold it higher ground against the U.S Dollar above the 1.30 level. Growth numbers will come from the U.K on Wednesday and in combination with the U.S Federal Reserve’s monetary policy tomorrow, the Pound may continue to see a rather tight range in the coming twenty … Continue reading Daily Market Forecast, July 25, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

U.S. equity markets are trading lower during the pre-market session as investors digest the earnings report from Alphabet, Google’s parent, which were released after the close on Monday. Investors are also preparing for Wednesday’s Fed interest rate decision and monetary policy statement. Investors widely expect the central bank to leave interest rates unchanged, but are … Continue reading S&P 500; US Indexes Fundamental Daily Forecast – Big Week for Earnings including Facebook and Amazon

Oil extended gains after the OPEC meeting yesterday as the members decided to limit Nigerian oil output. In addition, Saudi Energy Minister Khalid al-Falih has sparked concerns as he said that the country will limit crude oil exports next month to curb global oversupply. The American Petroleum Institute is due to release its weekly oil data later … Continue reading WTI Crude Oil Daily Analysis – July 25, 2017

The USDCAD pair continues to weaken over the last 24 hours and despite the fact that the dollar did try to make some sort of a recovery against certain other currencies, it has not been able to do anything against the CAD and continues to get slaughtered. The pair is clearly oversold but those in … Continue reading USD/CAD Daily Fundamental Forecast – July 25, 2017

The DAX index corrected further yesterday and for a brief while, it seemed as though the index would be totally routed as it dipped below the 12200 support mark. But some strong buying later in the day helped it to recover above the 1220 mark by the end of the day and this has helped … Continue reading DAX Index Daily Fundamental Forecast – July 25, 2017

We had mentioned in our forecast yesterday that the bitcoin prices are likely to consolidate and range near their range highs in the short term and that is what has been happening over the past 24 hours. We are back near the highs of its range, where we were at the beginning of the month, … Continue reading Bitcoin and Ethereum Price Forecast – Prices Continue Consolidation

The German index fell initially during the day on Monday, but found enough support to bounce again. However, we are starting to see selling pressure again and it looks as if we’re going to chop around with a negative bias. There is a massive amount of support near the €12,000 level, and a breakdown below … Continue reading DAX Index Price Forecast July 25, 2017, Technical Analysis

Dow Jones 30 The Dow Jones 30 market sold off initially on Monday, but interestingly enough found enough support at the 21,500 level to turn around and form a bit of a supportive candle on the hourly chart. I believe we are going to see a lot of bullish pressure in this area, or at … Continue reading Dow Jones 30 and NASDAQ 100 Forecast July 25, 2017, Technical Analysis

The S&P 500 initially fell on Monday, but continue to find support near the 2465 handle. Because of this, I think the market will bounce eventually, as this is an area that should be well supported. I think that the market will probably go looking towards the 2470 handle, and then the 2475 handle. Remember, … Continue reading S&P 500 Price Forecast July 25, 2017, Technical Analysis

The FTSE 100 fell hard during the Monday session, slicing through the 7400 level, and reaching towards the 7350 level. It looks as if the FTSE 100 will continue to try to break down, but I see a significant amount of support near the 7300 level. If we broke above the 7220 level, at that … Continue reading FTSE 100 Price Forecast July 25, 2017, Technical Analysis

Silver markets continue to bounce around the $16.50 level during the day on Monday, as traders came back from the weekend. The market still looks very bullish, and the 24-hour exponential moving average continues to offer dynamic support. Ultimately, the market should continue to grind its way to the upside as the US dollar is … Continue reading Silver Price Forecast July 25, 2017, Technical Analysis

The GBPUSD pair has consolidated and ranged over the past 24 hours but so far, it looks to be well supported. This could imply that the pair is getting ready to make a move upwards as we are seeing some strong support in the 1.30 region but with the month end looming ahead and with … Continue reading GBP/USD Daily Fundamental Forecast – July 25, 2017

WTI Crude Oil The WTI Crude Oil market went sideways initially on Monday, but then bounced as it was announced that the sallies were anticipating cutting back on production drastically. This caused the market to rally rather significantly midmorning in Europe, and the market has hung on to the game since then. However, it is … Continue reading Crude Oil Price Forecast July 25, 2017, Technical Analysis