Forecasts & Analysis

USD/CAD failed to stay in the range between the 20 EMA and the 50 EMA and returned back to the previous trading range between support at 1.3500 and the 20 EMA.

S&P 500 has had a volatile session on Wednesday, as we have broken towards the highs again. If we can clear the 3240 level, then it is likely that we go to 3400.

The silver markets tried to rally on Wednesday but have struggled to break higher. The $20 level above continues to be a major barrier.

Crude oil markets have gapped a little bit higher on Wednesday but continue to see a lot of the same problems, lease that the same levels.

Natural gas markets initially tried to rally on Wednesday but struggled at the 50 day EMA again. It shows how difficult the trading conditions are.

Gold markets tried to rally on Wednesday but gave back quite a bit of the gains to form a slightly negative candlestick. We are sitting on top of major support.

Oil tries to gain more upside momentum above $40 as crude inventories decline by 7.5 million barrels.

The way of least resistance is down. All sellers have to do is take out $1.738 with conviction and prices could collapse again.

The US dollar got hit rather hard against the Japanese yen on Wednesday, as we continue to see the 50 day EMA cause a lot of headaches.

The British pound shot straight up in the air during the trading session on Wednesday, reaching towards the 1.2650 level.