Forecasts & Analysis

September West Texas Intermediate crude oil futures reached an 8-week high on Thursday, closing higher for a fourth straight session. Support continued to be provided by last week’s huge inventory draw down as reported in Tuesday’s American Petroleum Institute’s report and Wednesday’s U.S. Energy Information Administration’s inventories report. Buyers also like Saudi Arabia’s plan to … Continue reading Crude Oil Price Update – Holding Above $48.52 Will Indicate the Presence of Strong Buyers

Natural gas prices moved higher on Thursday getting a lift following a smaller than expected build in natural gas inventories reported by the Energy Information Administration.  Prices rebounded 2.33%, pushing up to resistance near the 10-day moving average at 2.99. Support is seen near the weekly lows at 2.88. Momentum is neutral as the MACD … Continue reading Natural Gas Price Analysis for July 28, 2017

Gold prices formed a doji day which is one of indecision as conflicting forces drove prices.  While equities dropped generated short-term fear, the dollar gained traction following a stronger than expected U.S. durable goods report. Prices remain in a short term uptrend with resistance near the June highs at 1,296.  Support on the yellow metal … Continue reading Gold Price Prediction for July 28, 2017

Crude oil prices continued to move higher on Thursday following Wednesday reported from the Department of Energy that showed large drawdown of U.S. inventories, which was a catalyst for the latest rally. Upside risk remains however, following Saudi Arabia’s plan to cut its exports by up to 1,0 million barrels per day going forward, beginning … Continue reading Crude Oil Price Analysis for July 28, 2017

European core yields moved lower, which weighed on the EUR/USD despite a record high on German consumer confidence as the Fed’s reluctance to commit to a time for an unwind to the balance sheet beyond “relatively soon”. EMU money supply came in as expected adding little to the inflation argument. U.S. trade numbers came in … Continue reading EUR/USD Daily Technical Analysis for July 28, 2017

September E-mini Dow Jones Industrial Average futures are trading higher shortly after the opening. Everyone saw this coming because the blue chip market was trading firm in the pre-market session. The rally actually began yesterday after the close when Facebook’s results blew away the estimates. Today’s price action will be dictated by momentum and news. … Continue reading E-mini Dow Jones Industrial Average (YM) Futures Analysis – July 27, 2017 Forecast

September E-mini NASDAQ-100 Index futures are expected to open higher based on the pre-market session. The futures contract hit an all-time high earlier in the session on the back of blowout results from Facebook. The main and minor trends are up and upside momentum is strong. Investors are locked in on earnings and shrugging off … Continue reading E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – July 27, 2017 Forecast

September E-mini S&P 500 Index futures are expected to open higher. Traders are shrugging off today’s economic data and the Fed news is in the rearview mirror. The main focus remains on earnings so we’re basically in a new driven market. The main trend is up according to the daily swing chart. The index hit … Continue reading E-mini S&P 500 Index (ES) Futures Technical Analysis – July 27, 2017 Forecast

December Comex gold futures are trading higher, but mostly flat during the pre-market session. A stronger U.S. Dollar is helping to limit the market’s gains. U.S. stock index futures are also called higher. Increased demand for higher risk assets could limit demand for gold. Technical Analysis The main trend is up according to the daily … Continue reading Gold Price Futures (GC) Technical Analysis – July 27, 2017 Forecast

The USD/CAD has been dropping significantly without any substantial retrace, finally hitting the 1.2400 zone support. On H4 chart the pair is showing the bullish divergence so there could be a push to the upside. Above 1.2450 we might see a bullish price action towards 1.2536. Sellers should be waiting at the POC and if … Continue reading USD/CAD Bullish Divergence Could Push The Price Up

The EUR/USD is trading lower on Thursday. The intraday chart pattern indicates a potentially bearish closing price reversal top may be forming. This doesn’t mean the trend is getting ready to turn lower, but it could be an early indication that the selling is greater than the buying at current price levels. It confirmed, this … Continue reading EUR/USD Mid-Session Technical Analysis for July 27, 2017

FOMC was perceived dovish by traders worldwide, that is why we do have a come back to the main trends, so weaker dollar, stronger EM, higher stocks and commodities. Gold climbed back above the 1258 USD/oz resistance. Currently that will be the closest support. That breakout creates a nice buying opportunity with the desired – … Continue reading What to trade after the FOMC? Gold, NZD/JPY and USD/CNH

U.S. stock indexes are trading firm during the pre-market session. All three major indexes hit new contract highs during the early session with the September E-mini NASDAQ-100 Index posting the best performance. Currently, it is sitting just under the psychological 6000 level, boosted by a strong performance by Facebook. Facebook stock is expected to gap … Continue reading S&P 500; US Indexes Fundamental Daily Forecast – Higher Opening Expected on Facebook Beat

Good morning, traders, you’re watching the Primary Daily Trading Signals. Euro/Dollar’s hourly chart is split between red and neutral models, whereas the 4 and 24-hour scales turn bullish with 4 and 5 studies, respectively, matching the more than 18% long interbank. Neutral signals prevail on the Cable’s short-term chart. The mid and long-term scales bring … Continue reading Forex Trading Signals – July 27, 2017

Throughout 2017 the US Dollar Index (USD) performed a steady, methodical downtrend. USD is a weighted index representing the US dollar’s value relative to a basket of other global currencies. Its largest constituent, the Euro (EURUSD), represents around 57% of the index and has been in an uptrend since the start of the year. Accordingly, strength … Continue reading US Dollar at Critical Juncture

The Euro continues to attract buyers. It made big gains against the U.S Dollar after the Federal Reserve’s rather dovish policy statement on Wednesday. Resistance levels have been broken through by the upwards advance of the Euro and it is trading near highs made a couple of years ago. Euro Testing High Water Marks The … Continue reading Tactics and Analysis, July 26, 2017 – Euro Making News with Solid Highs

Gold The gold market drifted a bit lower to bounce back around the $1250 level. The calmness in the market can be guessed due to outcome before FOMC statement. The market will take a cue from here and decide on the course of direction to follow. Hawkish statement from FOMC will drive the price lower … Continue reading Commodities Daily Forecast – July 27, 2017

After three consecutive days of gains, oil prices hover near eight-weeks high on Thursday morning as U.S. inventory data raised concerns of lower stockpiles. According to the Energy Information Administration – the increase in production output led to the fall in U.S. crude stocks last week. Based on the inputs of industry players about the slowing of U.S. … Continue reading WTI Crude Oil Daily Analysis – July 26, 2017

EUR/USD The pair went on a sideways movement during the Wednesday’s trade and seems to consolidate between the 1.1625 level and 1.17 level. The mildly dovish FOMC statement will lift the market higher and aim for the target 1.1850 levels. Over a couple of days of trading, the market seems to have made 1.15 level … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 27, 2017

S&P 500 S&P 500 traders initially tried to rally during the day on Wednesday, but then pulled back as we got close to the FOMC statement. In a nutshell, the statement said absolutely nothing new, and this seemed to have offered a bit of comfort for traders as we rallied again. It looks as if … Continue reading Major US Indices Forecast, July 27, 2017, Technical Analysis