Forecasts & Analysis, Page

Based on the early price action, the direction of the June E-mini Dow Jones Industrial Average futures contract is likely to be determined by trader reaction to last week’s close at 26566.

Attempts at a breakout were thwarted once again in the early hours, with the bears looking to seize back control…

Based on the early price action, the direction of the AUD/USD is likely to be determined by trader reaction to the resistance cluster at .7149 and the Fibonacci level at .7153. Overtaking .7153 and sustaining the move will indicate the presence of buyers. A sustained move under .7149 will signal

It’s a bearish start to the week, as the weekend sell-off spills into this morning. Heavier losses could be on the cards should key levels not be reached.

The catalysts behind the movement of the Japanese Yen this week will be the Bank of Japan Outlook Report, Monetary Policy Statement and BOJ Press Conference. Traders expect the BOJ to leave policy unchanged, while warning that it may ease if necessary.

In Australia, traders will get a chance to react to quarterly consumer inflation data. Better-than-expected data will likely buy additional time for the RBA before it has to finally cut rates. Weak data will likely move up the expected rate cut. Quarterly CPI is expected to come in at 0.2%,

Based on last week’s price action, the direction of the June WTI crude oil futures contract on Monday is likely to be determined by trader reaction to the major Fibonacci level at $63.48.

Given the plethora of this week’s U.S. economic reports, it looks as if the direction of the gold market this week is going to be controlled by the U.S. Dollar. This week, the dollar should be impacted mostly by Durable goods with Advance GDP a close second.

Natural gas begins the week at its lowest price level in almost three years. The catalysts behind last week’s steep break is increased shale output, coupled with mild spring weather. However, most of all the rapidly shrinking storage deficit is quickly alleviating fears over a potential supply crunch next winter.

U.S. energy firms last week reduced the number of oil rigs operating for the first time in three weeks as production growth forecasts from shale, the country’s largest oil fields, continue to shrink.

Based on the close at $1276.00 and last week’s price action, the direction of the June Comex gold market on Monday is likely to be determined by trader reaction to the major 50% level at $1272.70.

Based on last week’s price action and the close at .7151, the direction of the AUD/USD on Monday is likely to be determined by trader reaction to the main Fibonacci level at .7153 and the intermediate 50% level at .7150.

It’s been a mixed week for the majors. Bitcoin Cash ABC is on the move early, while Litecoin continues to struggle at $83 levels…

Since the main trend is up and based on the close at 111.936, the direction of the USD/JPY on Monday is likely to be determined by trader reaction to the nearest uptrending Gann angle at 111.718.

Based on the price action the last three sessions and the close at .6687, the direction of the NZD/USD is likely to be determined by trader reaction to the uptrending Gann angle at .6687.

It’s a mixed start to the day for the majors. A move through key levels would be needed to avoid a sell-off later in the day.

The S&P 500 did very little during the trading week, as Friday was a holiday. The volume is very low, and of course we are in the middle of earnings season. Beyond that we are at the top of the market, and of course there is a lot of resistance

Silver markets went back and forth during the week, which probably had quite a bit of trading volume socked out of it due to the Easter holiday coming, and of course the Good Friday holiday Matt that it was only a four day week to begin with.

Crude oil markets continue to go back and forth as this week was no different than the previous week. The resistance just above is causing some issues for the WTI market, while the Brent market seems to be spinning its wheels and waiting for its cousin to come along.

Natural gas markets fell hard during the week, cracking through the $2.50 level on Thursday which was the last trading day of the week. Now that we are in this extreme area, this chart looks very sick.