Forecasts & Analysis
Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 27/01/20
The majors make an early move to bring resistance levels into play. A move back through early highs would be needed, however, to support further upside.
EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 27/01/20
It’s a bullish start to the day as Sunday’s late rally spilled into this morning. A move back through early highs would support a breakout…
Price of Gold Fundamental Weekly Forecast – Fed Decisions Take Backseat to Coronavirus Fears
Since the Fed is not likely to offer any surprises, the focus this week will remain on the economic impact of the coronavirus.
Oil Price Fundamental Weekly Forecast – Coronavirus Fears Likely to Keep Pressure on Prices
Since the coronavirus conditions worsened over the weekend, we expect the WTI and Brent crude oil markets to open sharply lower.
Natural Gas Price Fundamental Weekly Forecast – Not Much in Forecasts to Suggest Return of Cold Temps
According to the CFTC Commitments of Traders report for the week ended January 21, net shorts for natural gas futures rose.
USD/JPY Fundamental Weekly Forecast – Likely to Plunge on Coronavirus Fears
The emphasis this week will be on safety. Given the worsening coronavirus problem, I expect global stock markets to open sharply lower and the Japanese Yen to spike higher as investors seek safe-haven protection.
AUD/USD and NZD/USD Fundamental Weekly Forecast – Impact of Coronavirus May Force Central Banks to Cut Rates
Traders are going to continue to debate whether the RBA and RBNZ should cut rates in February, but last week’s economic data has cooled thoughts of automatic cuts.
Crude Oil Price Update – Downside Momentum Targets $50.18 By End of Week
A combination of long-liquidation and short-selling is driving prices lower so I don’t expect smart buyers to just step in front of the downside momentum.
Gold Price Futures (GC) Technical Analysis – Big Test for Buyers This Week at $1581.20 to $1590.30
The early direction on Monday will be determined by trader reaction to the short-term 50% level at $1581.20.