Forecasts & Analysis

December E-mini Dow Jones Industrial Average futures are trading higher on Tuesday, boosted by strong quarterly earnings results from UnitedHealth Group and Johnson & Johnson. The price action in the cash market indicates the Dow may hit 23,000 today. The Dow is also being supported by a rise in homebuilder confidence. The monthly sentiment index … Continue reading E-mini Dow Jones Industrial Average (YM) Futures Analysis – Trend Up, But Needs to Hold 22898 to Sustain Rally

December E-mini NASDAQ-100 Index futures are trading lower shortly after the opening. After hitting a new contract high at 6125.00 earlier in the session, investors started taking profits, driving the index lower into the opening. The early session rally was attributed to follow-through buying after Netflix reported strong earnings and revenue after Monday’s close. The … Continue reading E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Trader Reaction to 6098.00 Will Determine Direction Today

December E-mini S&P 500 Index futures are trading flat shortly before the cash market open and inside yesterday’s range. This indicates investor indecision and impending volatility. It could also be indicating that momentum is getting ready to shift from up to down. There is also a little divergence in the major indexes this morning with … Continue reading E-mini S&P 500 Index (ES) Futures Technical Analysis – Becomes Vulnerable to Downside Under 2549.00

Euro/Dollar has been trending slowly South and the pair has attracted just slightly more than half of the monthly average funds. The sentiment of the traders is neutral, 4% short. Bears have been in better positions, but both the passive trading and narrow price movement range suggest no major moves in funds are likely. The … Continue reading Midday Forex Snapshot – October 17, 2017

Three technical setups on Tuesday: USDMXN – We can see first signs of the exhaustion here. After breaking the upper line of the triangle, the price surged higher. Now we are approaching the 38,2% Fibonacci where we can get a taking profit action form the buyers. That resistance is additionally strengthened by the highs from March, … Continue reading USDMXN ready to take profits, EURJPY to go lower and USDCAD to break from the sideways trend

EUR/USD With a month-old downward slanting trend-line again restricting the EURUSD’s upside, the pair is likely to re-test 1.1745 and the 1.1715-10 supports. Though, the 1.1685-80 horizontal-region might confine its following downside, if not then the pair could plunge in a direction to 1.1660 and then to the 61.8% FE level of 1.1620. On the … Continue reading Technical Update For EUR/USD, GBP/USD, USD/JPY & AUD/USD: 17.10.2017

Gold fell on Monday as it ran into strong resistance which produced a wave of selling. The precious metal is now near important support, but Gold’s volatility may continue the next couple of days if it reacts to fast conditions in forex. Strong Resistance Batters Gold Gold seemed to hit a wall on Monday around … Continue reading Gold Hits a Wall and Turns Lower

The US dollar gained in strength during the course of trading yesterday and this has helped to push the USDCAD pair through 1.25 and it is now looking towards the highs of its range once again. There has been nothing fundamentally changed as far as the CAD is concerned but it is the dollar that … Continue reading USD/CAD Daily Fundamental Forecast – October 17, 2017

Sellers continued to dominate the EUR/USD on Tuesday, driving the Forex pair into its lowest level since October 10. Rising U.S. Treasury yields helped make the U.S. Dollar a more attractive investment. Meanwhile, Ten-year bond yields in Germany hit a one-month low, extending moves seen late last week on reports. German Bund yields fell because … Continue reading EUR/USD Mid-Session Technical Analysis for October 17, 2017

You’re watching the Main Daily Trading Signals for Tuesday. Here’s how technicals compare with interbank at 8 AM GMT. Euro/Dollar sees a mix of green and neutral models on its hourly chart. The mid-term scale sees 6 sell prompts, and the daily outlook turns neutral with 6 studies, matching the less than 15% long interbank. … Continue reading Forex Trading Signals – October 17, 2017

Gold The gold market showcased a bit of strength in the Monday’s session, as it hovered above the important $1300 level. The bullish sentiment in the market is likely to continue as the 24-hour exponential moving average is acting as a dynamic support. The next target for this market is $1325 level and is more likely … Continue reading Commodities Daily Forecast – October 17, 2017

EUR/USD The pair was extremely volatile during the Monday’s trade session, initially gapping lower but found enough support near the 1.1780 level to bounce and break above the 1.18 level again. The volatility was largely due to a lot of noise going on the market and more importantly due to the election of a populist … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – October 17, 2017

The DAX index continues to try and break through the 13000 region and it has finally managed to close above the 13000 region yesterday on the back of improving investor sentiment. Time is really running out for the bulls to make a break of this and push higher and get back to the business of … Continue reading DAX Index Daily Fundamental Forecast – October 17, 2017

Crude oil prices edged higher on Monday as the clash between Iraqi and Kurdish forces began in Kirkuk lifting up worries over supply interruption. WTI crude oil continues to trade higher on Tuesday morning, gained 0.50% to trade at $52.12. The Iraqi forces entered Kirkuk after weeks of unrest in the region despite tensions that … Continue reading WTI Crude Oil Daily Analysis – October 17, 2017

This is the Support and Resistance Level Report for Tuesday. Here’s how our in-house model tests out. Euro/Dollar has had a bearish start of the week, now trading between R1 of 1 1780 and S1 of 1 1750. Standing near a 20 day moving average, R2 sees 9 confirmations, and the lowest resistance line has … Continue reading Tuesday Support and Resistance Levels – October 17, 2017

USDCHF recently broke below the bottom support trend line of the price channel on its 4-hour chart, suggesting that the upside movement from 0.9420 had completed at 0.9836 already. Near-term support is at 0.9704, a breakdown below this level could trigger another fall towards 0.9564. However, the fall from 0.9836 would possibly be a correction … Continue reading USD/CHF Is Now In Uptrend From 0.9420

Bank of England Governor Mark Carney will be speaking today and volatility is a certainty for the Pound as the BoE leader shares his insights. The Euro has lost value the past two trading sessions and may find speculators tempted to buy if they believe it has been oversold. GBP/USD: Moment of Truth Today The … Continue reading Daily Market Forecast, October 17, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

Gold prices traded above $1300 on Monday but dropped back to trade around $1290 as the dollar firmed and the safe-haven assets demand eased. Gold is trading at  $1292.5, down -0.81% as of 8:30 GMT. On Sunday, Fed chair Janet Yellen confirmed the Federal Reserve’s commitment to raising rates. Yellen added “The U.S economy remains strong … Continue reading Gold Daily Analysis – October 17, 2017

S&P 500 The S&P 500 fell significantly during the day on Monday after initially trying to rally. However, we turned around to show signs of life again, as the 2550 level continues to be a bit of a floor. I think that the S&P 500 will go looking towards the 2600 level above, and that … Continue reading Major US Indices Forecast, October 17, 2017, Technical Analysis

Natural gas prices tumbled early in the session then rebounded later before closing lower as traders played a pair of key technical retracement levels. December Natural Gas settled at $3.108, down $0.052 or -1.65%. The catalyst behind the selling pressure were weather forecasts showing a return to mild weather after a cold spell in the … Continue reading Natural Gas Price Fundamental Daily Forecast – Bearish Specs Betting Warmer Weather Will Reduce Early-Winter Demand