Forecasts & Analysis

It’s time for this week’s last Support and Resistance Level Report. Here’s how our in-house model tests out. Euro/Dollar has inched lower and now has R1 of 1 1710 and S1 of 1 1670. Bollinger Upper Band is among the 3 studies for R2. R1 is a former 2 year high with 2 models, whereas … Continue reading Friday Support and Resistance Levels – July 28, 2017

The Dollar/Yen posted a two-sided trade on Thursday before closing lower. The early rally was supported by upbeat U.S. economic data. The sell-off into the close was fueled by the carry trade as investors shed risky assets in the stock market and bought the Yen for protection. The USD/JPY settled at 111.260, up 0.093 or … Continue reading USD/JPY Fundamental Daily Forecast – Should Rally on Upbeat GDP, Limited Gains if Stocks Weaken

The Australian and New Zealand Dollars were hit hard on Thursday as investors reacted to technically overbought conditions and a recovery in the U.S. Dollar. Some traders felt the rally, fueled by Wednesday’s dovish U.S. Federal Reserve monetary policy statement, was overdone since most of the news was already baked into the prices. Furthermore, investors … Continue reading AUD/USD and NZD/USD Fundamental Daily Forecast – Strong U.S. GDP Data Could Deliver Another Blow to Aussie, Kiwi

Gold futures fell from their six-week high on Thursday, pressured by a rebound in the U.S. Dollar against a group of major currencies and solid economic data. Investors also continued to digest the Fed’s monetary policy statement while assessing the impact of its plan to begin trimming its massive debt “relatively soon” in a sign … Continue reading Price of Gold Fundamental Daily Forecast – U.S. Quarterly GDP Will Set the Tone Today

The DAX index continued to stay weak but the bulls are trying hard to make a stand here and reverse the overwhelming sentiment. The trigger for the move in the markets yesterday was strength in tthe US economic data which brought into the view again, the possibility of another rate hike in the US sometime … Continue reading DAX Index Daily Fundamental Forecast – July 28, 2017

Natural gas futures spiked to the upside on Thursday in reaction to a government report that showed domestic supplies in storage rose less than anticipated last week. The rally was a normal response to the data and no one should read into it. The market played a series of retracement levels that it must plow … Continue reading Natural Gas Price Fundamental Daily Forecast – Weather Moderate; Bullish Over $3.011, Bearish Under $2.934

U.S West Texas Intermediate and international-benchmark Brent 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 … Continue reading Oil Price Fundamental Daily Forecast – WTI Needs Rig Decline to Sustain Rally Over $48.52

The German index fell initially during the day on Thursday, but continues to find support somewhere near the €4100 level. Overall, one of the biggest drags on this market has been that the EUR/USD pair has been grinding higher, and that of course makes German exports more expensive. I believe that there is a massive … Continue reading DAX Price Forecast July 28, 2017, Technical Analysis

Dow Jones 30 The Dow Jones 30 fell during the day after initially tried to rally, forming a very negative looking market. I think that the market will eventually try to rally, as some of this may be due to political noise more than anything else. Because of this, I believe that this will simply … Continue reading Dow Jones 30 and NASDAQ 100 Price Forecast July 20, 2017, Technical Analysis

The S&P 500 went sideways during most of the day but then started to pick up volatility as Thursday got further along. I believe that the market underneath at the 2475 handle is showing a bit of support, but right at this point in time I think that we are continuing to see a lot … Continue reading S&P 500 Price Forecast July 28, 2017, Technical Analysis

The FTSE had a choppy session on Thursday, as we continue to bounce around overall. I think that we are currently consolidating between the 7400 level on the bottom, and the 7450 level on the top. I think that it is a difficult market to trade, but currently it looks as if the buyers are … Continue reading FTSE 100 Forecast July 28, 2017, Technical Analysis

Silver markets rolled over after initially tried to rally on Thursday. By doing so, it looks as if we’re going to test the breakout, to see if there is support there. If we can bounce from just below current levels, the market could find itself reaching towards the $17 level. I believe that the market … Continue reading Silver Price Forecast July 28, 2017, Technical Analysis

WTI Crude Oil The WTI Crude Oil market initially went sideways during the session on Thursday, and then dipped. However, somewhere near the $48.25 level, the trader started to jump back into the market and push it higher. We broke above the $49 handle, showing signs of strength yet again. I believe that we are … Continue reading Crude Oil Price Forecast July 28, 2017, Technical Analysis

Natural gas markets went sideways initially on Thursday and then shot through the roof as inventory numbers grew less than expected. However, we have seen this movie before, and being “less bad” does not make for a bullish market. Quite often, these knee-jerk reactions get challenge, and then reversed. The $3 level above has not … Continue reading Natural Gas Price Forecast July 28, 2017, Technical Analysis

Gold markets went sideways initially during the day on Thursday, and then fell rather significantly in a sudden downdraft. This looks a lot like profit-taking, so we will have to see what happens next. I believe there is plenty of support down to at least the $1250 level, so as soon as we get a … Continue reading Gold Price Forecast July 28, 2017, Technical Analysis

The US dollar fell initially during the day on Thursday but found enough support near the 110.80 level to turn around and break back above the 111 level. This is a bullish sign, and I think that the market is going to go looking for the 112 level above. I find this interesting, because as … Continue reading USD/JPY Forecast July 28, 2017, Technical Analysis

The US dollar went sideways initially during the session on Thursday, but eventually started to gain against the Canadian dollar. However, now that we are above the 1.25 level I think that the real fight begins. I believe somewhere near the 1.2550 level, we should see a significant amount of resistance. Obviously, there was a … Continue reading USD/CAD Forecast July 28, 2017, Technical Analysis

The bitcoin prices continued their ranging and consolidation between the $2400 and $2700 as we had mentioned in our forecast yesterday. So far, the bitcoin prices seem to be unaffected by all the talk of a fork coming up on August 1, which could possibly lead to a break up in the bitcoin market. Things … Continue reading Bitcoin and Ethereum Price Forecast – Ethereum Prices Coiling Up

The New Zealand dollar initially tried to rally during the day on Thursday, but turned around at the 0.7550 level. By doing so, we crashed into the 0.75 handle, an area that has been rather interesting over the longer-term charts. I believe that the market will continue to find plenty of support in this area, … Continue reading NZD/USD Forecast July 28, 2017, Technical Analysis

The British pound initially rally during the day on Thursday, continuing the bullish pressure that we had seen on Wednesday. We went sideways for a while, but as the Americans came online, this pair rolled over again, perhaps a little bit of profit-taking being the culprit. However, I think that this market selling office strongly … Continue reading GBP/USD Forecast July 28, 2017, Technical Analysis