Forecasts & Analysis

In a way, it was a typical week for the EURUSD pair. The traders had to get it into their head that the pair is in a clear uptrend. Any other thought would just spoil their participation in the party that the euro bulls have been having over the last few weeks. Last week, we … Continue reading EUR/USD Fundamental Analysis – week of July 24, 2017

The German index fell significantly during the week, slicing through the €12,500 level. Not only that, we are testing a significant area of that appears on the chart from several weeks ago. The gap in that area should send this market looking for support, and we have filled the gap, so it’s likely that buyers … Continue reading DAX Index forecast for the week of July 24, 2017, Technical Analysis

Dow Jones 30 The Dow Jones 30 initially fell during the week but found enough support underneath the 21,500 level to bounce and form a bit of a hammer. I believe that the market will continue to go higher, as stock markets continue to benefit from a weaker US dollar. Ultimately, I believe that this … Continue reading Dow Jones 30 and NASDAQ 100 forecast for the week of July 24, 2017, Technical Analysis

The S&P 500 initially fell during the week but found enough support of the 2450 level to turn around and bounce higher. The fact that we have done this suggests to me that we are going to continue to go higher, perhaps reaching towards the 2500 level above. I have no interest in shorting this … Continue reading S&P 500 forecast for the week of July 24, 2017, Technical Analysis

The FTSE 100 had a slightly positive week as we initially tried to reach above the 7500 level, but found too much in the way of resistance above there. However, as the week wore on the British pound lost some strength and that of course is good for exports when it comes out of the … Continue reading FTSE 100 Index forecast for the week of July 24, 2017, Technical Analysis

Silver markets broke higher during the week, slamming into the $16.50 level. That’s an area that should continue to offer resistance, but I think we will eventually break above there. Longer-term, looks as if Silver is trying to form some type of floor, and that of course takes several attempts to prove the supportive nature … Continue reading Silver forecast for the week of July 24, 2017, Technical Analysis

WTI Crude Oil The WTI Crude Oil market initially tried to rally during the week, but found enough resistance near the $47.50 level to turn around and form a shooting star. The shooting star is a negative sign, and I believe that we are going to fall from here. In fact, I believe that we … Continue reading Crude oil forecast for the week of July 24, 2017, Technical Analysis

Natural Gas markets initially tried to rally during the week but found the area near the $3.10 level to be far too resistive yet again. By the time we started to close out on Friday, we had formed a massive shooting star that sits just below the $3 level. This is a very bearish sign, … Continue reading Natural Gas forecast for the week of July 24, 2017, Technical Analysis

Gold markets rallied during the week, slicing through the $1250 level, showing signs of real strength. Currently, I believe that the market is essentially consolidating between the $1200 level on the bottom, and the $1300 level on the top. I think we’re going to continue to reach towards that area, so therefore I am bullish … Continue reading Gold forecast for the week of July 24, 2017, Technical Analysis

The USD/JPY pair fell during the week, slicing through the 112 level rather handily. The market looks likely to find support at the 110 handle though, and I think that buyers will continue to be attracted to this level, and I’m willing to buy close to the 110 handle. I believe that a supportive candle … Continue reading USD/JPY forecast for the week of July 24, 2017, Technical Analysis

The USD/CAD pair fell slightly during the week, testing the 1.25 handle. We continue to see a massive downtrend move, but we are getting a bit overextended. A bounce from the 1.25 level would make a lot of sense, as it is a large, round, psychologically significant number. Regardless, there is a massive uptrend line … Continue reading USD/CAD forecast for the week of July 24, 2017, Technical Analysis

The New Zealand dollar initially fell during the week but found enough support near the 0.7250 level to turn around and finally break out above the 0.7350 handle. The 0.75 level above is the next target, and I believe that it is a substantial area that the markets will be paying attention to. I think … Continue reading NZD/USD forecast for the week of July 24, 2017, Technical Analysis

The British pound fell slightly during the week, as we sliced below the 1.30 level. There is a significant amount of resistance just above, and extending to the 1.3450 level. I think that we may try to bounce towards that area again, but it is going to take a significant amount of work, and it’s … Continue reading GBP/USD forecast for the week of July 24, 2017, Technical Analysis

The British pound fell significantly against the Japanese yen during the week, slicing through the 145 handle on Friday. We break down below the bottom of the hammer from the previous week as well, and this suggests that perhaps we are starting to see a failure of the attempt to go higher. However, I think … Continue reading GBP/JPY forecast for the week of July 24, 2017, Technical Analysis

The EUR/USD pair initially fell during the week but sliced through the all-important 1.15 handle. This is a very bullish sign, and it suggests that we are getting ready to break out of a massive consolidation area. We have been stuck between the 1.15 level and the 1.05 level over the last almost 3 years, … Continue reading EUR/USD forecast for the week of July 24, 2017, Technical Analysis

The EUR/GBP pair broke out to the upside during the week, slicing through the 0.88 level yet again. As we are closing towards the top of the candle, it looks likely that we are not only going to test the 0.90 level, but we may be able to break above it this time. Because of … Continue reading EUR/GBP forecast for the week of July 24, 2017, Technical Analysis

The Australian dollar had an explosive week during the past several sessions, slamming into the 0.80 level. However, that area continues to be resistive, so having said that I think that it is a potential turnaround area. I don’t think that were to break down for any significant amount of time though, I think that … Continue reading AUD/USD forecast for the week of July 24, 2017, Technical Analysis

The German index fell rather significantly during the day on Friday, as the EUR/USD pair continues to show signs of strength. This puts a lot of concern in the market about the possibility of German exports being too expensive for the people to buy, and that will continue to weigh upon the DAX. However, I … Continue reading DAX Index Forecast July 24, 2017, Technical Analysis

Dow Jones 30 The Dow Jones 30 initially went sideways during the day on Friday, but fell significantly to reach down towards the 21,500 level. The market bounced from there significantly, and it now looks as if we are going to continue to go higher. I think that longer-term, the 21,500 level should offer support, … Continue reading Dow Jones 30 and NASDAQ 100 Forecast July 24, 2017, Technical Analysis

The S&P 500 eventually went sideways during the session on Friday, but then fell significantly to reach down towards the 2460 handle. However, we have bounced a bit and I believe that the S&P 500 will continue to benefit from the overall bullish attitude. I believe that we will break out to a fresh, new … Continue reading S&P 500 Forecast July 24, 2017, Technical Analysis