Forecasts & Analysis, Page

It’s a mixed start to the day for the majors. Failure to move through morning highs by late morning will test the bulls…

It’s a mixed start to the day as the majors struggle for direction following Monday’s sell-off. Key levels would need to be hit by late morning for support.

It could be another day in the red for the majors as sentiment towards trade turns sour. Any positive data will be overshadowed by any trade talk…

Atlanta Fed GDPNow Rises

Prices gap lower on bear flag pattern

Gold prices made a timid attempt at a rally on Monday, following a sharp decline on Friday in the wake of the better than expected US jobs numbers. Prices traded in a tight range and formed a doji day which is a sign of indecision. US yields edged slightly lower,

Coffee futures in the March contract is trading sharply higher by another 400 points or 3.21% hitting a 2 year high continuing its bullish momentum on major concerns about a drought developing in the country of Brazil which is the largest producer in the world.

Stock markets were very quiet during the training session on Monday, as we are basically it all-time highs. The S&P 500 continues to benefit from more of a “risk on” attitude.

Silver markets rallied slightly during the trading session on Monday, but really haven’t been able to hang on to gains for any amount of time. At this point, the market is likely to pay attention to the 200 day EMA which is right here.

Crude oil markets initially fell during the trading session on Monday but have turned around to show signs of support. Ultimately, the market looks as if it is trying to reach the top of consolidation.

Natural gas markets gapped lower to kick off the trading session on Monday, showing signs of real weakness as market participants got wind that there had been changes in the idea of temperatures in the middle of December.

Gold markets rallied slightly during the trading session on Monday, showing signs of stability after a major selloff on Friday. That being said, the market is likely to see massive support underneath though based upon structure.

The US dollar has pulled back a bit during the trading session on Monday, reaching towards the ¥108.50 level. This is an area that of course will attract a certain amount of attention due to the fact that it is a large, round, midcentury figure. Beyond that, we have several

The British pound rallied a bit during the trading session on Monday, as we continue to see the traders of the British pound wait for the election. The election on Thursday will decide where we go next.

The British pound has initially tried to rally during the trading session on Monday but has pulled back a bit to show signs of choppiness. Quite frankly, the British pound is going to be waiting on the elections.

The Euro rallied a bit during the trading session on Monday, showing signs of life at the 50 day EMA. At this point, the market remains relatively range bound, but likely to pull back a bit.

The Australian dollar pulled back slightly during the trading session on Monday which of course has been relatively quiet in general. That being the case, the market is likely to continue to see the market being pushed around back and forth due to the US/China trade war.

The Canadian dollar is steady on Monday, after weak Canadian job numbers sent the currency lower on Friday. EUR/GBP has dropped to its lowest level since May 2017, as the pound continues to gain ground.

Risk ON mode is back on the market. Prices of riskier assets are climbing up and safe heavens are drowning. This can especially be seen on gold, when Friday was one of the worst days in the past few weeks.

Based on the early price action and the current price at 3148.00, the direction of the December E-mini S&P 500 Index the rest of the session on Monday is likely to be determined by trader reaction to the downtrending Gann angle at 3148.00.