Forecasts & Analysis, Page

Sellers have dominated EUR/USD for much of the first half of the month. The highly anticipated Fed meeting, scheduled later today, stands to change that, however, the bar has been set high.

It’s a sea of green for Asian equities and currencies on Wednesday after US President Donald Trump said that he will hold “extended talks” with Chinese President Xi Jinping at the G20 summit on June 28-29.

In my cynical view, when it comes to OPEC+ supply discipline, it’s is all about price. So with prices languishing at the bottom of the current ranges, OPEC and co continue to move closer to extending supply cuts as a precarious fortnight for oil markets has forced OPEC+ who have

Fundamentally, traders are gearing up for another triple digit build in Thursday’s government storage report, according to the early estimates. However, the main concern for traders is the divergence in the European and American weather models. The American model sees a heat wave coming, but the European model does not.

Based on the early trade, the direction of the September E-mini Dow Jones Industrial Average futures contract on Wednesday is likely to be determined by trader reaction to the short-term uptrending Gann angle at 26409.

Based on the early price action, the direction of the September U.S. Dollar Index on Wednesday is likely to be determined by trader reaction to the downtrending Gann angle at 97.120. The dollar index could weaken if the Fed comes across as excessively dovish. This means it signals rate cuts

Based on the early price action, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at .6862. The short-covering rally could continue if the Fed comes across as excessively dovish. However, gains are likely to be

As our research team continues to pour over the charts and look for any signs of direction regarding tomorrow’s Fed news, we put together a couple the charts that may highlight some expectations and in at what the markets may do the rest of the week.

Key HighlightsNEM’s XEM slid by 4.96% on Tuesday. Reversing a 3.46% gain from Monday, NEM’s XEM ended the day at $0.08613.A start of a day intraday high $0.09095 saw NEM’s XEM fall short of the first major resistance level at $0.0934.A late intraday low $0.08486 saw NEM’s XEM fall through

It’s back into the green for the majors. A hold onto key levels and a move by late morning would support the recovery of Tuesday’s losses.

Futures point to another slow start to the day. With all eyes on the FED and no material stats to distract, it could be a testy day ahead.

Stocks surge ahead of Fed

Prices are poised to test the June lows

Traders now await the Fed decision

Based on today’s price action and the current price at $1349.90, the direction of the August Comex gold futures contract into the close will be determined by trader reaction to the 50% level at $1349.40 and the Fibonacci level at $1352.40.

Based on the early price action and the current price at $53.94, the direction of the August WTI crude oil futures contract the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at $54.03.

Based on the early price action and the current price at 2929.75, the direction of the September E-mini S&P 500 Index futures contract is likely to be determined by trader reaction to the downtrending Gann angle at 2934.25.

If the upside momentum continues then look for a breakout over the intraday high at 26550. If this move creates enough upside momentum then look for a potential rally into the April 23 main top at 26710. If investors start to square positions or take profits ahead of Wednesday’s Fed

The stock markets rallied significantly around the world as the ECB talks of stimulus, and now we are heading towards the FOMC Statement which of course will continue to give hope for more stimulus here.

Silver markets rallied on Tuesday, reaching towards the $15.00 level. At that point, we are at a large, round, psychologically significant number that will of course attract a lot of attention.