Forecasts & Analysis

Natural gas prices moved lower on Friday despite a larger than expected draw in inventories reported on Thursday by the Department of Energy. Prices dipped toward support near the 10-day moving average at 3.01.  Resistance is seen near the July highs at 3.11. Positive momentum is decelerating as the MACD (moving average convergence divergence) histogram … Continue reading Natural Gas Price Analysis for July 24, 2017

Gold prices continued to rise on Friday, pushing above resistance which is now short term support near the 50-day moving average at 1,249.  The decline in the dollar, following the ECB’s monetary policy meeting on Thursday has given gold prices a boost.  Until Draghi walks back their perceived hawkish commentary, the yellow metal will remain … Continue reading Gold Price Prediction for July 24, 2017

WTI crude prices are down showing a 1.5% loss. Weakness in the dollar was unable to help keep oil prices buoyed, while the breach in the Brent benchmark above $50.0 over the last day was seen as bullish-affirming price action. The looming OPEC-led meeting of major oil producers on Monday in St. Petersburg is an … Continue reading Crude Oil Price Analysis for July 24, 2017

With the Euro sitting near a two-year on Friday, I don’t expect the September U.S. Dollar Index to move much. Because of its weighting in the index, the Euro controls the direction. We could see some volatility today after the European markets close because a few of the big banks controlling the long side will … Continue reading US Dollar Index (DX) Futures Technical Analysis – July 21, 2017 Forecast

The EUR/USD moved higher on Friday following Thursday’s ECB meeting where forex traders lifted the currency pair to fresh 14-month highs.  There appears to be a divergence in how the markets viewed the Draghi commentary following the ECB meeting. While forex markets are focusing on upbeat economic comments from Draghi on Thursday and push the … Continue reading EUR/USD Daily Technical Analysis for July 24, 2017

September E-mini Dow Jones Industrial Average futures are trading lower shortly before the cash market opening. The market is trading inside yesterday range, which suggests investor indecision and impending volatility. The Dow is also trading inside last week’s range, which may be a function of the below average volume, sector rotation, the lack of exposure … Continue reading E-mini Dow Jones Industrial Average (YM) Futures Analysis – July 21, 2017 Forecast

September E-mini NASDAQ-100 Index futures are trading flat-to-lower shortly before the cash market opening. The market is also trading inside yesterday’s range, which suggests investor indecision and impending volatility. The main trend is up according to the daily swing chart. A trade through 5938.50 will signal a resumption of the uptrend. A trade through 5897.00 … Continue reading E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – July 21, 2017 Forecast

September E-mini S&P 500 Index futures are trading flat-to-lower shortly before the cash market opening. The market is also trading inside yesterday’s range, suggesting investor indecision and impending volatility. The market continues to be driven by momentum and news. The price action has been bullish this week based on the higher-high, higher-low formation but it … Continue reading E-mini S&P 500 Index (ES) Futures Technical Analysis – July 21, 2017 Forecast

GOLD Gold’s reversal from $1205-04 support-zone is presently being questioned by 50-day & 100-day SMA confluence region of $1248-49, which if can’t compress the yellow metal’s recovery might flash $1260 on the chart. During the Bullion’s additional up-moves beyond $1260, the $1271 and the $1283 are likely important levels, breaking which $1295-96 “Double-Top” comes into … Continue reading Technical Checks For Gold, Silver & WTI Crude Oil: 21.07.2017

December Comex gold futures are trading higher shortly before the cash market opening. The market is being supported once again by the weaker U.S. Dollar. Gold will be supported today by lower Treasury yields and a weaker dollar. However, gains will be limited by a rise in U.S. equity indexes. This is because increased demand … Continue reading Gold Price Futures (GC) Technical Analysis – July 21, 2017 Forecast

September West Texas Intermediate crude oil futures are trading slightly higher shortly before the cash market opening. The market is also trading inside yesterday’s range, suggesting investor indecision and impending volatility. After a bullish U.S. Energy Information Administration inventories report sent the futures market to its highest level since June 7 early Thursday, sellers came … Continue reading Crude Oil Price Update – Investors Squaring Positions Ahead of Meeting; $46.81 Trigger Point for Breakdown

The EUR/USD is trading higher shortly before the U.S. opening. The Forex pair is being supported by yesterday’s hawkish comments from European Central Bank President Mario Draghi. Although the ECB left interest rates unchanged and sounded the dovish alarm when it said it stands ready to provide more stimulus if necessary, Euro traders ignored this … Continue reading EUR/USD Mid-Session Technical Analysis for July 21, 2017

These are the Main Daily Trading Signals for Friday. Here’s how the interbank compares with the technicals at 8 AM GMT. 5 studies point South on Euro/Dollar’s hourly chart, but the mid and long-term scales turn overwhelmingly bullish with 6 and 7 studies, respectively, and they are in line with the more than 16% long … Continue reading Forex Trading Signals – July 21, 2017

The USDCAD pair continues to struggle during the course of the last 24 hours and has been in the tight grip of the bears. Though there was a brief look over 1.26 as the pair tried to make a break, it could not get past the 1.2630 region and fell back below 1.26 where it … Continue reading USD/CAD Daily Fundamental Forecast – July 21, 2017

Gold Weakness in the dollar has helped the gold to zip through the $1240 level on Thursday’s trade. For now, buying on dips will be the preferred way to enter the market which is expecting a resistance around the level $1250 and $1235 will act as good support region. In Long term,  gold prices will target … Continue reading Commodities Daily Forecast – July 21, 2017

Natural gas futures are trading lower early Friday on low volume. There has been no follow-through to the downside after yesterday’s steep sell-off. This suggests the selling may have been overdone, or investors are waiting for more information. At 0730 GMT, September Natural Gas futures are trading $3.017, down $0.16 or -0.49%. Prices rose slightly … Continue reading Natural Gas Price Fundamental Daily Forecast – Less Cooling Demand Expected Next Week

EUR/USD The pair shot up during the Thursday’s trade after reports from the US suggesting the investigators expanding the search into Donald Trump’s global companies for collusion with Russia. The pair went up to 1.16 level during the day and closed around that level only. The pair had a good support on 1.15 level and … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 21, 2017

Good morning, traders, the team is here with this week’s last Support and Resistance Level Report. Euro/Dollar saw quite a rise yesterday, and it now has R1 of 1 1660 and S1 of 1 1610. The lower two resistance lines have found 2 matches each, including Price Channel Indicator Upper Line for R1 and a … Continue reading Friday Support and Resistance Levels – July 21, 2017

Gold is trending higher early Friday and nearing a three-week high, helped by a weaker U.S. Dollar and lingering U.S. political uncertainty. At 0700 GMT, December Comex Gold is trading at $1253.10, up $1.00 or +0.08%. A steep rise in the Euro to nearly a two-year high on Thursday sent the U.S. Dollar plunging against … Continue reading Price of Gold Fundamental Daily Forecast – Reaction to $1258.30 to $1269.40 Will Determine Longer-term Direction

U.S. West Texas Intermediate and international-favorite Brent crude oil are trading flat-to-mixed as investors square positions ahead of the week-end and a key meeting of major oil producing nations next week in St. Petersburg Russia. At 0625 GMT, September WTI crude oil is trading $46.89, down $0.03 or -0.06% and October Brent crude oil is … Continue reading Oil Price Fundamental Daily Forecast – Flat Ahead of OPEC, Non-OPEC Production Discussions in Russia