Forecasts & Analysis, Page

Based on the early price action, the direction of the September E-mini S&P 500 Index is likely to be determined by trader reaction to the short-term 50% level at 2902.50.

Gold is in a long-term bull market but from time to time the market will go through periods of profit-taking and position-squaring. Additionally, traders are not always going to chase the market higher.

Based on the early price action and the current price at 1.1104, the direction of the EUR/USD on Wednesday is likely to be determined by trader reaction to the uptrending Gann angle at 1.1097.

The volatility on the market dropped recently and the reason for that seems to be in the Jackson Hole symposium later this week.

At 14:30 GMT, the EIA will release its weekly inventories report. It is expected to show a 1.4 million barrel draw down. We could see above average volatility with the release of today’s numbers since we are nearing the end of peak U.S. driving season.

Based on the early price action and the current price at 7732.25, the direction of the September E-mini NASDAQ-100 Index on Wednesday is likely to be determined by trader reaction to the downtrending Gann angle at 7731.75 and the short-term Fibonacci level at 7735.75.

The British pound jumped higher yesterday after some positive Brexit comments from German Chancellor Angela Merkel.

Markets are choppy this week, avoiding sustained impulses and strong movements. After three days of growth, the U.S. markets turned to decline yesterday, losing about 0.8%. At the same time, it is difficult to say whether the news background has significantly deteriorated over the past day.

The fundamentals appear to have reached a stalemate, which supports the sideways-to-higher chart pattern. Since the technicals tend to precede the fundamentals, where likely to see the next move determined by chart watchers.

EUR/USD caught a bid from support on Tuesday to end a 5-day consecutive decline. Volatility is expected in the session ahead as the Fed will release minutes from their latest meeting.

Based on the early price action and the current price at .6782, the direction of the AUD/USD on Wednesday is likely to be determined by trader reaction to the uptrending Gann angle at .6777.

Based on the early price action and the current price at 98.175, the direction of the September U.S. Dollar Index futures contract is likely to be determined by trader reaction to the Fibonacci level at 98.045.

Asian stocks are following their US counterparts lower, with markets reluctant to get ahead of themselves in hoping for a near-term resolution to the US-China conflict.

The Bitcoin bears take another bite through the early morning. A move back through to $10,400 levels would signal a rebound…

Apologies for the essay, but I was writing to a client about things that keep me up at night, other than an 11-month old, and it got a little out of hand. The central theme is that the big issue is that the global economy is bearing the impact of

The S&P500 fell Tuesday, down 0.8%, and U.S. 10-year Treasury yields fell 5bps to 1.55%. The market seems to have paid little attention to the U.S. president indicating he would explore” various tax reductions” to help stimulate growth, for example. Instead, investors succumbed to apprehension in rates and trade talks.

Based on the price action the past two sessions and today’s current price at $56.31, the direction of the October WTI crude oil futures contract on Wednesday is likely to be determined by trader reaction to the main 50% level at $55.72.

The major focus for the day would remain over the July Canadian CPI data release and FOMC minutes. Since the start of August, the USD/CAD had hardly made a move below the Ichimoku Clouds until today.

Based on the early price action and the current price at $1512.10, the direction of the December Comex gold futures contract on Wednesday is likely to be determined by trader reaction to the pivot at $1517.50.

The USD/JPY is currently trading inside the August 13 wide range for a sixth straight trading session. This indicates investor indecision and impending volatility. The price action is being controlled by Treasury yields and demand for risk.