Forecasts & Analysis

Crude oil futures are trading higher on Monday, driven by profit-taking, short-covering and aggressive counter-trend bargain hunting. At 0403 GMT, August West Texas Intermediate crude oil futures are trading $43.52, up $0.51 or +1.16% and internationally-favored September Brent crude oil futures are at $46.29, up $0.54 or +1.18%. Fundamentally, a weaker U.S. Dollar is helping … Continue reading Oil Price Fundamental Daily Forecast – May Need Rally to Shake out the Weak Shorts

Natural gas futures gapped higher on Monday. Traders were likely responding to the weather and the news of a drop in the number of natural gas rigs. At 0400 GMT, August natural gas futures are trading $3.017, up $0.066 or +2.24%. Despite the strong price action, the trend is still down on the daily chart, … Continue reading Natural Gas Price Fundamental Daily Forecast – Rig Count Drops, Market Gaps Higher

The GBPUSD pair continues to trade within a range of 300 pips, something that it has been doing ever since the elections in the UK threw up some surprising results. Though the pair has been trading between 1.25 and 1.28 for most of the time during this period, the volatility within this range has been … Continue reading GBP/USD Daily Fundamental Forecast – June 26, 2017

There has not been much action in the markets as of this morning and in that aspect, it can be said that it has been a typical Monday morning. It is the last week of the month and as we have been saying for the past few days, the economic and fundamental drivers dry up … Continue reading EUR/USD Daily Fundamental Forecast – June 26, 2017

EURGBP’s bullish movement from the April 18 low of 0.8313 extended to as high as 0.8866. After touching the resistance of the January 16 high of 0.8851, the pair pulled back and formed a sideways movement in a trading range between 0.8719 and 0.8866. On the upside There is an ascending price channel with support … Continue reading EUR/GBP Is Facing Neckline Resistance

Gold prices are trading nearly flat on Monday as investors prepare for a slew of key U.S. economic data this week as well as a speech from Federal Reserve Chair Janet Yellen. At 0303 GMT, August Comex gold is trading $1255.80, down $0.60 or -0.05%. The range is a scant $1259.00 to $1255.40. Although gold … Continue reading Price of Gold Fundamental Daily Forecast – Traders Preparing to Respond to U.S. Durable Goods Reports

September Comex High Grade Copper futures closed higher last week and in a position to continue the move if the buying is strong enough to take out the key retracement zone that has stopped rallies the last three weeks. Copper was supported last week by a weaker U.S. Dollar which drove up foreign demand, reports … Continue reading Comex High Grade Copper Price Futures (HG) Technical Analysis – Move Through $2.6675 Will Be Bullish

The AUD/USD closed lower last week as investors reacted negatively to the Reserve Bank of Australia’s monetary policy minutes. The RBA minutes covered the same topics previously highlighted. The RBA also said that housing and employment merit watching, as does the Australian Dollar strength. Technical Analysis The daily chart has been choppy and directionless so … Continue reading AUD/USD Forex Technical Analysis – Last Week’s Inside Move Means Decision Time for Investors

The Australian and New Zealand Dollar finished mixed against the U.S. Dollar last week. Both were subject to the influence of their respective central banks with the Reserve Bank of Australia releasing its monetary policy minutes and the Reserve Bank of New Zealand issuing its latest monetary policy decision. The AUD/USD settled the week at … Continue reading AUD/USD and NZD/USD Fundamental Weekly Forecast – Focus on U.S. Reports, Fed Chair This Week

The Dollar/Yen closed higher for the week with the outlook for higher U.S. interest rates helping with most of the gains. There was a setback late in the week as investors reacted to dovish Fed commentary, falling oil prices and weak U.S. economic data. Falling Treasury yields also drove down the U.S. Dollar as investors … Continue reading USD/JPY Fundamental Weekly Forecast – Continue to Monitor U.S. Treasury Yields for Direction

Commodities prices continue to be investors’ safe haven as political uncertainty and weaker than expected economic data raised investors concerns. Falling crude oil prices for the fifth weekly loss pulled commodity prices down as oversupply continued the ‘black gold’ downtrend. The technical analysis, that includes the indicators’ data and major pivot points for WTI Oil, Gold, Silver and Copper as traded on spot market as of June … Continue reading Commodities Technical Analysis, June 26th – June 30th, 2017

DAX 30 The DAX index had a pretty eventful week but those who look at where it ended up for the week would not realise how much of volatility and promise that it had shown during the course of the week, only to lose it all as the week progressed and then end up back … Continue reading Weekly Global Indexes Technical Analysis, Jun 26 – Jun 30

S&P 500 The S&P 500 had a volatile session on Friday, initially going sideways and then dipping down towards the 2430 handle. There’s enough support there to turn the market around though, and with the rebalancing of the Russell 2000, it makes sense that we saw this type of choppiness. I still believe in the … Continue reading Major US Indices Forecast, June 26, 2017, Technical Analysis

The U.S. Dollar posted a two-sided trade last week, but still managed to eke out a small gain. However, the weak close on Friday suggests that downside momentum may be building. Early in the week, the dollar was driven higher by the previous week’s hawkish interest rate decision and monetary policy statement. Several Fed speakers … Continue reading Weekly Forex Technical Analysis, Jun 26 – Jun 30, 2017

S&P 500 The S&P 500 initially tried to rally during the week, testing the 2450 handle. However, we pulled back from that level in order to form a shooting star. I believe that there is a significant amount of support just below though, so having said that I think that we will eventually go to … Continue reading Major US Indices, Forecast for The Week of June 26, 2017, Technical Analysis

The major U.S. stock indexes finished relatively flat for a third week as news regarding the Trump administration’s policy changes were met by muted reactions from investors. Rallies in health care and tech shares offset a plunge in energy stocks. In the cash market, the blue chip Dow Jones Industrial Average closed at 21,394.76, unchanged. … Continue reading S&P 500; US Indexes Fundamental Weekly Forecast – Energy, Health Care, Financial Sectors In Play This Week

Natural gas futures posted a volatile week, driven lower by temperatures that were expected to come in average to below average over the next two-weeks. August Natural Gas futures settled the week at $2.951, down $0.109 or -3.56%. According to the EIA, U.S. natural gas stocks increased by 61 billion cubic feet for the week-ending … Continue reading Natural Gas Price Fundamental Weekly Forecast – Oversold Conditions Could Lead to Short-covering

Gold posted a two-sided trade last week, first breaking to its lowest level since May 17 then recovering late in the week to finish marginally lower. August Comex Gold futures settled the week at $1256.40, down $0.10 or -0.01%. Gold hit a four-week low early in the week as the dollar held firm and the … Continue reading Price of Gold Fundamental Weekly Forecast – Falling Treasury Yields Will Be Bullish

U.S. West Texas Intermediate and internationally-favored Brent crude oil finished sharply lower last week for the fifth consecutive week. August WTI crude oil settled at $43.01, down $1.96 or -4.36% and September Brent crude oil closed at $45.75, down $1.88 or -3.95%. The week started with crude oil under pressure late in the session after … Continue reading Oil Price Fundamental Weekly Forecast – Will Another Price Plunge Cause Supply Deal to Unravel?

The DAX index had a pretty eventful week but those who look at where it ended up for the week would not realise how much of volatility and promise that it had shown during the course of the week, only to lose it all as the week progressed and then end up back within the … Continue reading DAX Index Fundamental Analysis – week of June 26, 2017