Forecasts & Analysis

The AUD/USD rebounded on Wednesday after a sharp reversal the previous session. I suspect that speculators are now betting that the Reserve Bank of Australia will be pressured into raising interest rates sooner than expected now that it appears the rest of the major central banks are gearing up to hike their benchmark rates. We … Continue reading AUD/USD Forex Technical Analysis – Specs Betting RBA Will be Influenced by Hawkish Central Banks

The GBPUSD pair ripped higher on hawkish comments from Carney yesterday and like a similar time a couple of weeks back, the BOE has once again managed to save the pound from falling further. The same thing happened a couple of weeks back, when the pound was in a free fall due to the results … Continue reading GBP/USD Daily Fundamental Forecast – June 29, 2017

It was a volatile day of trading in the EURUSD pair as the spate of news continue to flow in from the different parts of the world and this has been pushing and pulling the various currencies in different directions. This should come as a surprise to a lot of traders who would have expected … Continue reading EUR/USD Daily Fundamental Forecast – June 29, 2017

September Comex High Grade Copper futures continued their bullish move on Wednesday with the market within striking distance of a three-month high, boosted by a steep drop in the U.S. Dollar, signs of a tighter supply and optimism over Chinese demand. The U.S. Dollar Index reached its lowest level since last November, making dollar-denominated copper … Continue reading Comex High Grade Copper Price Futures (HG) Technical Analysis – Bullish Move Fueled by Weak Dollar, Tighter Supply, Chinese Demand

September U.S. Dollar Index futures finished sharply lower on Wednesday despite an uptick in U.S. Treasury yields. The index was primarily driven lower by strong performances by the Euro and British Pound. When trading the U.S. Dollar Index, keep in mind that it’s a weighted geometric mean of the dollar’s value relative to the other … Continue reading US Dollar Index (DX) Futures Technical Analysis – Index Overwhelmed by Heavily Weighted Euro, British Pound

The EUR/USD whipsawed following ECB officials suggesting markets misjudged Draghi comments. According to reports citing unnamed ECB policy makers Draghi’s speech yesterday was intended to strike a balance between recognizing economic strength and warning that monetary support is still needed. So, after Draghi’s reference to possible policy changes served as a reminder that tapering announcements … Continue reading EUR/USD Daily Technical Analysis for June 29, 2017

Natural gas prices pushed higher closing above trend line resistance, as warmer than normal weather is forecast to cover most of the United States over the next 8-14 days according to the Nation Oceanic Atmospheric Administration.  Prices pushed to test June highs at 3.12, but were unable to hold these elevated levels ahead of Thursday … Continue reading Natural Gas Price Analysis for June 29, 2017

Gold prices were nearly unchanged, generating a doji day which is a scenario where the open and the close are at the same level reflecting indecision. Softer than expected Italian inflation showed and a clarification of Draghi’s comments on Tuesday, helped take the edge off the Euro and capped gold prices. Support is seen near … Continue reading Gold Price Prediction for June 29, 2017

Crude oil prices continued to rebound on Wednesday despite an unexpected build in crude oil inventories compared to the draw that was expected.  It appears that managed money moved out of their long positions in futures and options over the past few weeks, allowing prices to rebound.  Demand continues to remain subdued, especially gasoline which … Continue reading Crude Oil Price Analysis for June 29, 2017

August Comex gold traded higher on Wednesday, but the price action was weak. The market attempted a rally which would have put it in a position to challenge the top at $1260.00 and perhaps lead to a change in trend, however, sellers came in to stop the move. Under normal trading conditions, gold would have … Continue reading Gold Price Futures (GC) Technical Analysis – Mixed Fundamentals Holding It in a Range

August West Texas Intermediate crude oil futures are trading flat shortly before the U.S. Energy Information Administration’s weekly inventories report. The price action suggests that trader believe the report will show a draw of about 2.1 million barrels. Late Tuesday, the American Petroleum Institute’s report showed a surprise build so traders have to be ready … Continue reading Crude Oil Price Update – Taking Out $45.28 Changes Trend to Up

September E-mini Dow Jones Industrial Average futures are expected to open better on Wednesday. The market is recovering from early session weakness which failed to draw enough attention from sellers to take out a key retracement zone. The market is now retracing its recent swing downswing. Technical Analysis The main trend is up according to … Continue reading E-mini Dow Jones Industrial Average (YM) Futures Analysis – June 28, 2017 Forecast

The EUR/USD surged to a one-year high early Wednesday before profit-taking and position-squaring fueled some intraday weakness. The sell-off may have been a reaction to comments from the European Central Bank which said the markets may have misinterpreted ECB President Mario Draghi’s comments on Tuesday, setting up a strong rally. Technical Analysis The main trend … Continue reading EUR/USD Mid-Session Technical Analysis for June 28, 2017

September E-mini S&P 500 Index futures are trading higher shortly before the cash market opening. The market is mounting a comeback after failing to take out a significant bottom at 2412.50. It’s now in retracement mode. Technical Analysis The main trend is up according to the daily swing chart. A trade through 2412.50 turns the … Continue reading E-mini S&P 500 Index (ES) Futures Technical Analysis – June 28, 2017 Forecast

Euro/Dollar has been slowly trending higher to trade point 33% in the green at noon. The pair has attracted 46% more than typical funds and sentiment of the traders is neutral, 1% short. Gradual rise suggests a successful start of the day is more likely for those who had long positions. Pound/Dollar has walked in … Continue reading Midday Forex Snapshot – June 28, 2017

The Pound has gained early this week and finds itself near important mid-term resistance against the U.S Dollar. The British currency has recovered well since the surprise results of the U.K general election and its stability has attracted speculative buying in the short-term. Pound’s Short-Term Recovery The Pound has provided traders a solid price recovery … Continue reading Tactics and Analysis, June 28, 2017 – Pound Proves Stable & Strong

AUD/USD Even if a week-long ascending trend-line portrays AUDUSD’s strength, the pair repeatedly fails to clear downward slanting trend-line, at 0.7615 now, which in-turn indicates brighter chances for the pair’s pullback to 0.7560 on the break of 0.7585 TL support. During the pair’s extended downside below 0.7560, the 0.7535 may offer intermediate stop before reigniting … Continue reading Important AUD Pair’s Technical Overview: 28.06.2017

Unexpectedly hawkish Draghi brings volatility on the market and helps the EUR bulls to set yearly highs on many currency pairs. EURUSD combined the fundamentals (Draghi) and technical analysis ( iH&S formation). The price climbed sharply. We came back above the mid-term up trendline and used this momentum to break the 1.129 resistance. In my … Continue reading Nice setups on the EURUSD, USDCAD and Gold

We had mentioned in our forecast yesterday that the bitcoin prices are likely to fall further on fundamental and technical factors and this is what we saw for the first half of the day yesterday. But this was soon followed by  a recovery in the prices which has since pushed the prices steadily higher on … Continue reading Bitcoin Price Forecast – Focus on the Dollar

Good morning traders, you’re watching the Primary Daily Trading Signals for Wednesday. Bullish signals prevail across the chart for the Euro/Dollar, which sees 5 buy prompts in the short-term, 6 in the mid-term and no less than 8 in the long-term, and they indeed are very much in line with the interbank, which stands at … Continue reading Forex Trading Signals – June 28, 2017