Forecasts & Analysis

Based on the early price action and the current price at 2673.50, the direction of the June E-mini S&P 500 Index the rest of the session on Wednesday is likely to be determined by trader reaction to the 50% level at 2652.50.

Overall, we believe continued selling as a result of forward global economic expectations is the most obvious outcome where a deeper price bottom will setup sometime later this spring or early summer.

Ahead of Thursday’s OPEC meeting, traders are focused on whether the United States will join OPEC+ with production cuts of its own.

Based on the early price action, the direction of the June E-mini NASDAQ-100 Index the rest of the session on Wednesday will be determined by trader reaction to 7948.00.

Based on the early price action and the current price at 1.0862, the direction of the EUR/USD the rest of the session on Wednesday is likely to be determined by trader reaction to the 50% level at 1.0892 and the downtrending Gann angle at 1.0827.

The British pound has been trading within a narrow range for the month thus far. A range breakout stands to accompany an increase in volatility.

Based on the early price action and the current price at 100.255, the direction of the June U.S. Dollar Index the rest of the session on Wednesday is likely to be determined by trader reaction to a pair of uptrending Gann angles at 100.345 and 100.030.

EUR/USD was faced with sellers after recovering above the 1.0900 level as the rally in risk assets lost momentum.

The AUD/USD is currently sitting inside a triangle formed by a pair of Gann angles and a retracement zone. This indicates investor indecision and impending volatility. This is a breakout formation so start preparing for an acceleration.

The hopes of the markets are not yet fulfilled: the peak of the spreading of the disease in the United States has not yet passed in peak.