Forecasts & Analysis

EUR/USD: A Re-Test of Highs? The Euro gained upon the publication of the U.S Federal Reserve’s Meeting Minutes, which showed the U.S central bank’s debate regarding inflation has escalated. The Euro is near the 1.18 level against the U.S Dollar. Investors may continue to look for upside potential from the Euro in the near term … Continue reading Daily Market Forecast, August 17, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

Good morning, traders, you’re watching the Support and Resistance Level Report for Thursday. Euro/Dollar has recovered some lost ground and now stands between R1 of 1 1790 and S1 of 1 1750. The lowest resistance line has found 9 matches, while R2 is a 2 year high with 7 confirmations. Price Channel Indicator Upper Line … Continue reading Thursday Support and Resistance Levels – August 17, 2017

After breaking below the May 2016 low of 1.2460 support, USDCAD rebounded strongly from 1.2413 and moved above the bearish trend line on its daily chart. However, the bounce from 1.2413 would possibly be consolidation of the downtrend from 1.3793, another fall towards 1.1500 is still possible after the consolidation. On the downside USDCAD broke … Continue reading USD/CAD Broke Above Bearish Trend Line

Gold futures are trading higher early Thursday as investors continue to respond to yesterday’s rebound in the market that was fueled by a sudden drop in U.S. Treasury yields, a weaker U.S. Dollar and lower demand for higher-risk assets. At 0630 GMT, December Comex Gold futures are trading at $1293.50, up $10.60 or +0.83%. The … Continue reading Price of Gold Fundamental Daily Forecast – Political Turmoil, Fed Minutes Continue to Be Supportive

The DAX index recovered slightly during the course of the day yesterday as the risk sentiment continued to improve across the world. The tension between North Korea and the US continued to subside, which is something that is expected considering the costs of war in this day and age. North Korea and US have a … Continue reading DAX Index Daily Fundamental Forecast – August 17, 2017

The German index rallied significantly during the day on Wednesday, touching the 12,300 level. We pull back from there, and I think that we will go looking for some type of support underneath. I don’t see the reason to go long quite yet, but I will be watching for some type of bounce or supportive … Continue reading DAX Index Price Forecast August 17, 2017, Technical Analysis

Dow Jones 30 The Dow Jones 30 had a choppy session on Wednesday, but found the 22,000 level to be supportive, especially after the Federal Reserve released its meeting minutes, which seems to show a bit of confusion. Ultimately, the market should continue to go higher, and that being the case I think that we … Continue reading Dow Jones 30 and NASDAQ 100 Price Forecast August 17, 2017, Technical Analysis

The S&P 500 rallied during the day on Wednesday, reaching towards the 2475 handle. That’s an area where we have seen resistance, and it makes sense that we pull back from there. The 2460 level underneath should offer support, and I think that the market is getting ready to make a move one way or … Continue reading S&P 500 Price Forecast August 17, 2017, Technical Analysis

The FTSE 100 broke higher during the trading session on Wednesday, clearing the 7400 level. The market now looks as if it is going to continue to go higher, perhaps trying to fill the gap from several sessions ago. That means that we should go looking towards the 7500 level, and that will be exacerbated … Continue reading FTSE 100 Price Forecast August 17, 2017, Technical Analysis

Silver markets rally during the day on Wednesday after initially going sideways. However, the $17 level above will continue to offer resistance, and I think it extends to the $17.20 level. And exhaustive candle is an opportunity to start selling again, and I believe that the market will go down to the $16.50 level under … Continue reading Silver Price Forecast August 17, 2017, Technical Analysis

WTI Crude Oil The WTI Crude Oil market fell significantly during the session on Wednesday, as the Federal Reserve Meeting Minutes were much more dovish than anticipated. This suggests that perhaps not all is right in the economy, and that would be yet another problem for crude oil. Because of this, the market is very … Continue reading Crude Oil Price Forecast August 17, 2017, Technical Analysis

Natural gas markets continue to look very volatile, because quite frankly there is a lot of headlines that the markets will be paying attention to. The $2.85 level below should be supportive, and I think that given enough time we will probably not only reach down towards that area, but quite possibly go looking to … Continue reading Natural Gas Price Forecast August 17, 2017, Technical Analysis

As expected, after making a corrective move towards $3800, the bitcoin prices have since shot up higher during the course of the last 24 hours and we have had a test of the highs around the $4400 region during this morning which has basically formed a double top, technically, as of now. But considering the … Continue reading Bitcoin and Ethereum Price Forecast – Bitcoin Awaits Next Direction As ETH Consolidates

Gold markets went sideways during the session on Wednesday, breaking above the $1275 level eventually. That being the case, the market found resistance above there, and I think that the short-term pop will more than likely find sellers. I believe that a move to the $1265 level is probably the next move, and then perhaps … Continue reading Gold Price Forecast August 17, 2017, Technical Analysis

The US dollar rallied a bit during the day on Wednesday, going into the FOMC Meeting Minutes. We initially reached towards the 111 handle, but then pulled back to find bits of support. I think the market is trying to break out to the upside, and perhaps go looking towards the 112.50 level. Ultimately, this … Continue reading USD/JPY Price Forecast August 17, 2017, Technical Analysis

The USD/CAD pair fell significantly during the session on Wednesday at the open, but the 1.27 level has been offering a bit of support. At this point, I would anticipate that the buyers may return to the market, but we have the FOMC Meeting Minutes coming out later in the session, and that could have … Continue reading USD/CAD Price Forecast August 17, 2017, Technical Analysis

The New Zealand dollar broke higher during the day on Wednesday, but found a bit of resistance near the 0.7250 handle. This was previous support, so that makes sense. If the FOMC looks to reaffirm tightening or at least a slowdown of the balance sheet at the Federal Reserve, this pair should go lower. We … Continue reading NZD/USD Price Forecast August 17, 2017, Technical Analysis

The British pound went sideways during most of the session on Wednesday, hugging the 1.2850 level. The market is waiting to see with the Federal Reserve is thinking, and the Meeting Minutes could have a lot to do with where we go next. If we break down below the bottom of the daily range, then … Continue reading GBP/USD Price Forecast August 17, 2017, Technical Analysis

The British pound initially shot higher, but then pulled back against the Japanese yen later in the day on Wednesday. I think we are starting to see a bit of support here though, but quite frankly you’re going to have to pay attention to the GBP/USD pair to get an idea as to what direction … Continue reading GBP/JPY Price Forecast August 17, 2017, Technical Analysis

The EUR/USD pair fell during the trading session on Wednesday, testing the 1.17 level underneath. This is an area that should continue to offer a bit of interest, but with the FOMC Meeting Minutes coming out, it’s possible that we may see a bit of volatility. Ultimately, this market I think will find buyers, the … Continue reading EUR/USD Price Forecast August 17, 2017, Technical Analysis