Forecasts & Analysis

Gold prices moved higher but hit resistance near the 50-day moving average at 1,249.  Gold was buoyed by a rising Euro which surged following a perception of a hawkish tone from the ECB on Thursday. Draghi told the markets that the ECB would evaluate QE in the fall to determine if it is needed beyond … Continue reading Gold Price Prediction for July 21, 2017

Natural gas prices surged higher making a fresh high for July but was unable to break through resistance near 3.11, and fell into the close. Prices generated an outside day with a higher high a lower low and a lower close.  The decline comes despite a smaller than expected increase in natural gas inventories. Support … Continue reading Natural Gas Price Analysis for July 21, 2017

Crude rallied to $47.55, a two-week high, from $46.67 following the EIA inventory data which showed a 4.7-million-barrel fall in crude stocks. The street had been expecting a 2.5-million-barrel decrease, though the API reported a surprise 1.6 million stock build after the close on Tuesday. Meanwhile, gasoline supplies, seen down 0.5 million barrels actually fell … Continue reading Crude Oil Price Analysis for July 21, 2017

The EUR/USD broke out to fresh 23-month highs following the ECB commentary following their interest rate decision. While many interpreted Draghi’s comments as dovish, he announced that the ECB would look at reducing QE volume in the fall. They did not say they would make a change. Initially, Bunds jumped in price but then reversed … Continue reading EUR/USD Daily Technical Analysis for July 21, 2017

September E-mini NASDAQ-100 Index futures are trading higher. Low interest rates in the U.S. are providing some of the firepower for the rally. Strong earnings are also helping to drive the index higher. Technically, the main trend is up and there is no resistance. Top-pickers and those traders selling new highs because of useless overbought … Continue reading E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – July 20, 2017 Forecast

September E-mini S&P 500 Index futures are called slightly higher shortly before the cash market opening. There is no resistance and the current rally is being driven by momentum. The momentum has been provided by diminishing odds of a third Fed rate hike later this year. Fed Chair Janet Yellen’s comments about muted inflation being … Continue reading E-mini S&P 500 Index (ES) Futures Technical Analysis – July 20, 2017 Forecast

Euro/Dollar’s gradual decline has resulted in the pair moving below the 1 15 level. Turnover is average and sentiment of the traders is neutral, 7% short. Gradual downtrend has provided profit opportunities for those who were short. Pound/Dollar has declined by a total of 100 pips and the pair was point 64% South of the … Continue reading Midday Forex Snapshot – July 20, 2017

Nothing last forever, even the depreciation of the American Dollar. For the last two days USD is finally correcting recent weakness, which actually creates a great opportunity for the trend followers. They can enter the market with better prices. GBPUSD drops sharply even despite the fact that we got better Retail Sales data. We are … Continue reading Waiting for the ECB

September West Texas Intermediate crude oil futures are inching higher on Thursday shortly before the regular session opening. The catalyst behind the rally is yesterday’s bullish U.S. Energy Information Administration report. According to the EIA, crude oil inventories declined larger-than-expected. A larger-than-expected drop in gasoline inventories also helped drive prices higher as well as an … Continue reading Crude Oil Price Update – Turns Extremely Bullish On Sustained Move Over $47.83

December Comex Gold futures are trading lower shortly before the European Central Bank interest rate decision and monetary policy statement. Since these events affect the U.S. Dollar, gold traders are paying close attention to what the central bank and ECB President Mario Draghi have to say about the tapering of stimulus and the direction of … Continue reading Gold Price Futures (GC) Technical Analysis – July 20, 2017 Forecast

The EUR/USD is trading lower shortly before the release of the European Central Bank interest rate decision and monetary policy decision. Investors will be looking for clues from the ECB on tapering of its stimulus. Traders are hoping the central bank lays out the groundwork for a fall shift, emphasizing improved growth while trying to … Continue reading EUR/USD Mid-Session Technical Analysis for July 20, 2017

The GBP/JPY has been rejected from the W L4 level and at this point we see an intraday downtrend in the GBP/JPY with clear double bottom support. Price action shows both up and down movement but to me it looks like a potential momentum change especially because the price is below W L4 that makes … Continue reading GBP/JPY Possible Momentum Change Due to M Pattern

USD/CAD Irrespective of the USDCAD’s latest bounce from 1.2575, a week-long descending trend-line presently confines the pair’s recovery around 1.2635. Considering the USD weakness, chances of the 1.2600 and the 1.2575 come-back are high, breaking which 61.8% FE level of 1.2555 and the 1.2500 mark might give rise to expectations of a short-covering. Should Bears … Continue reading Technical Overview For USDCAD, EURCAD, GBPCAD & CADJPY: 20.07.2017

Periodically, equity markets will undergo sector rotation where money moves from one sector of the economy to another. Since equity markets are forward-looking, the individuals managing large sums of money, like hedge funds, mutual funds, and institutions, will rebalance or change exposure levels to certain sectors in a fairly discernable manner in anticipation of new … Continue reading Sector Rotation in US Equities

Find out how the interbank compares with the technicals at 8 AM GMT. These are the Main Daily Trading Signals. Bearish signals prevail on Euro/Dollar’s short and mid-term charts, but the long-term scale turns green with 5 models, and it is supported by the more than 15% long interbank. Next up is the Cable with … Continue reading Forex Trading Signals – July 20, 2017

The Pound will experience a fast and volatile trading day as it stands in the shadow of the European Central Bank’s monetary policy outlook. The Pound has seen early downside pressure against the U.S Dollar and traders may look for upside potential. Risk management is crucial today. Pound Will Face Volatility Today The Pound has … Continue reading Tactics and Analysis, July 20, 2017 – Pound Support Being Tested

On Thursday, Gold prices edge lower ahead of the European central bank critical meeting. Gold was trading at $1237.25, down 0.38% as of 09:00 GMT. Gold has been well supported during the last week as concerns over the US & EU next rate hike are in focus. Technical Outlook Gold prices retraced to hit the previous support … Continue reading Gold Daily Analysis – July 20, 2017

S&P 500 The S&P 500 went sideways initially during the day on Wednesday, then shot through the 2460 handle rather handily. It’s very likely that the market will continue to go towards the 2500 level, which is my longer-term target. I believe that short-term pullbacks will be buying opportunities, as the uptrend is very strong. … Continue reading Major US Indices Forecast, July 20, 2017, Technical Analysis

EUR/USD: Consolidation Will Disappear The European Central Bank’s Minimum Bid Rate publication and its Press Conference which will follow are certain to move the Euro against the U.S Dollar today. The European currency traded in a stubborn range on Wednesday. However, consolidation for the Euro against the U.S Dollar will disappear as ECB President Mario … Continue reading Daily Market Forecast, July 20, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

Good morning traders, our team brings you another Support and Resistance Level Report. Euro/Dollar has been trending lower, and it now stands between R1 of 1 1530 and S1 of 1 15. The lowest resistance line has found 5 matches. R2 is confirmed by Price Channel Indicator Upper Line, Bollinger Upper Band and another model, … Continue reading Thursday Support and Resistance Levels – July 20, 2017