Forecasts & Analysis

September West Texas Intermediate crude oil futures are trading slightly higher after recovering from early session weakness. The price action suggests investors are waiting for news from the OPEC/Non-OPEC oil ministers meeting in St. Petersburg, Russia. There is speculation that the Saudi’s will cap crude exports next month, or the oil ministers will agree to … Continue reading Crude Oil Price Update – Reversing to Upside after Earlier Losses

December Comex Gold futures are trading higher shortly before the regular session opening. The market is being supported by a weaker U.S. Dollar, lower Treasury yields, an early decline in equity markets and U.S. political uncertainty. Technical Analysis The main trend is down according to the daily swing chart, however, momentum has been trending higher … Continue reading Gold Price Futures (GC) Technical Analysis – July 24, 2017 Forecast

The EUR/USD struggled after barely taking out last week high before turning lower for the session. There has been no change in the fundamentals or news so the move is likely related to price action. It looks as if the market ran out of buyers shortly before its two-year top. Technical Analysis The main trend … Continue reading EUR/USD Mid-Session Technical Analysis for July 24, 2017

These are the Main Daily Trading Signals for Monday. Here’s how the interbank compares with the technicals at 8 AM GMT. All three time ranges bring different results for the Euro/Dollar, which is mostly bearish in the short-term. The mid-term sees 6 neutral models, and the long-term turns green with 6 studies, matching the more … Continue reading Forex Trading Signals – July 24, 2017

Good morning, traders, the Dukascopy TV team is here with this week’s first Support and Resistance Level Report. Euro/Dollar is trading in the range limited by R1 of 1 1680 and S1 of 1 1640. Price Channel Indicator Upper Line is among the 5 studies for R1, and R2 is a 2 year high with … Continue reading Monday Support and Resistance Levels – July 24, 2017

It looks like the worst is behind us. The flash crash from the 7th of July, cleared few stop loss orders for sure and many buyers were kicked out of the market. That kind of price action often happens and do not surprise experienced traders. What is left on the chart now is a false breakout, … Continue reading Silver is About to Test the Recent Positive Sentiment

The Yen continues to be sold against the U.S Dollar, which is making the Japanese currency stronger in the short term. The Federal Reserve may continue to be dovish on Wednesday. If the Nikkei continues to be cautious too, the Yen may continue to become stronger and see the U.S Dollar sold against the Yen. … Continue reading Tactics and Analysis, July 24, 2017 – Yen Picking Up Strength

The GBP/USD pair is trading at 1.3041, up 0.36% on Monday morning. From the GBP/USD daily chart, it is apparent that the current level of the cable is trading close to the September 23, 2016 level. At that point, the GBP was trading at 1.31207. The fact the the pound remains bullish against the greenback is … Continue reading Slowly But Surely, the Pound Rises Against US Dollar

Gold The gold market was very bullish on Friday’s trade and went above the $1255 level. This is a strong sign of market likely going towards $1300 level. The dollar is trading at 14-month low level is supporting the prices and $1250 will be the support in this market. Buying on pullbacks will be an … Continue reading Commodities Daily Forecast – July 24, 2017

EUR/USD The pair went higher on Fridays’ trade after moving initially in a sideways direction. The pair is still moving strong and is trading in 2 years high level. It has a resistance level of 1.1650 level. Any pullback will provide a good opportunity to go for long position. No support for the dollar will … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 24, 2017

USDCAD continues to trade in a weak manner as there does not seem to be any respite for the dollar. This is expected to continue in the short and medium term as well as the oil prices begin to steady and they are likely to only get stronger in due course of time. Also, the … Continue reading USD/CAD Daily Fundamental Forecast – July 24, 2017

The EUR/USD continues to make higher highs and higher lows that is a sign of  a steady uptrend. At this point the POC zone 1.1605-20 (D L4/L5, 38.2, EMA89, W L3) looks firm and if the price retraces to the zone we might see another push to the upside. Targets are 1.1683 and 1.1720. However, … Continue reading EUR/USD Higher Highs And Higher Lows For Uptrend Continuation

Oil prices inched slightly lower on Monday morning ahead of OPEC meeting on July 24th. The Baker Hughes report has shown that the number of oil active rigs fell by 1 to 764 last week. This suggests signs of moderating domestic production growth. It is likely for the ministers to support the policy in order to maintain the output … Continue reading WTI Crude Oil Daily Analysis – July 24, 2017

Resistance level 1.3104 Pivot Level 1.3030 Support Level 1.2917, 1.2814, and 1.2718 Technical Analysis Daily bias in GBP/USD remains bearish with the 1.3104 resistances intact. A deeper decline is still expected for GBP/USD pair as long as resistances hold the area. The price action stays below resistances so far at this point and the week … Continue reading Weekly Technical Outlook: GBP/USD; Market Forecasts for July 24th – July 28th

Gold is trading slightly lower on Monday morning after it rose to the highest level in the last month. On Wednesday, the Fed is expected to deliver its views on interest rates ahead of U.S. second quarter GDP to be released on Friday. Last Friday, Gold prices rose for a six consecutive day to the largest weekly gain in … Continue reading Gold Daily Analysis – July 24, 2017

EUR/USD: Further Room to Climb The Euro will be watched by investors carefully as its starts trading this week. The European currency is testing long-term highs and the 1.17 resistance level has come into sight against the U.S Dollar. Traders looking for reversals downward may want to reconsider stepping in front of the Euro’s strong … Continue reading Daily Market Forecast, July 24, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

The major U.S. equity indexes are trading slightly lower during the pre-market session. Traders are mostly reacting to lower markets in Asia and Europe. A weaker U.S. Dollar is also putting some pressure on stocks. The primary focus for investors today will be earnings. However, investors will also get the opportunity to react to the … Continue reading S&P 500; US Indexes Fundamental Daily Forecast – Earnings, Politics Key Market Drivers Today

XAUUSD recently broke above the support-turned-resistance trend line at 1237 on its daily chart, indicating that the downside movement from 1295.94 had completed at 1204.77 already. On the upside On the 4-hour chart, the gold price ran in a bullish price channel with support at the bottom trend line at around 1241. As long as … Continue reading Gold Price Broke Above Trend Line Resistance

The DAX index continued to trade weakly on Friday, in line with the rest of the stock markets in Europe. This is likely to continue in the short and medium term as the market comes to terms with all the tapering talk. It has to be noted that the weakness in the DAX has basically … Continue reading DAX Index Daily Fundamental Forecast – July 24, 2017

The Dollar/Yen sold-off early in the session, but is starting to mount a slight comeback as we approach the European opening. The USD/JPY was pressured by weaker U.S. equities and further weakness in the U.S. Dollar. Some investors attributed the Forex pair’s weakness to political uncertainty in the United States. A slight dip in Asian … Continue reading USD/JPY Fundamental Daily Forecast – U.S. Political Uncertainty Leaning on Dollar/Yen