Forecasts & Analysis | Fundamental, Page

The catalyst behind the price action today is likely to be the Fed’s interest rate decision, monetary policy statement and dot-plot projections. The Fed is expected to leave its benchmark interest rate unchanged at this meeting, but traders want to know what it is going to do in July, September

Sellers have dominated EUR/USD for much of the first half of the month. The highly anticipated Fed meeting, scheduled later today, stands to change that, however, the bar has been set high.

In my cynical view, when it comes to OPEC+ supply discipline, it’s is all about price. So with prices languishing at the bottom of the current ranges, OPEC and co continue to move closer to extending supply cuts as a precarious fortnight for oil markets has forced OPEC+ who have

Fundamentally, traders are gearing up for another triple digit build in Thursday’s government storage report, according to the early estimates. However, the main concern for traders is the divergence in the European and American weather models. The American model sees a heat wave coming, but the European model does not.

Stocks surge ahead of Fed

Prices are poised to test the June lows

Traders now await the Fed decision

Over the past week, the benchmark cryptocurrency increased by more than 15%. At the moment, BTC is trading around $9250, confidently stepping over the threshold $9000.

The main range is $2.745 to $2.305. If the buying is strong enough to take out $2.413 with conviction then this could generate the upside momentum needed to challenge its retracement zone at $2.479 to $2.520.

Gold may be up for the session, but it’s actually trading at the mid-point of its wide, two-day range. Holding inside this range will be a sign of investor indecision ahead of the start of the Federal Reserve’s two-day meeting later today.

After falling for four consecutive sessions, GBP/USD is trading at levels not seen since early January. The pair has been mostly consolidating sideways in early European trading while the dollar is catching a bid.

ECB President Draghi’s speech today triggered a sharp fall in EUR/USD to a two week low. The pair has broken below some significant support although candles closes on the higher time frames are needed for confirmation.

In a story that is surprisingly generating very little support for prices, acting U.S. Defense Secretary Patrick Shanahan announced on Monday the deployment of about 1,000 more troops to the Middle East for what he said were defensive purposes, citing concerns about a threat from Iran.

There have been arguments that traders have now pre-positioned portfolios, and happy to drift into the menagerie of central bank speakers this week.

The escalating US-China and US-Iran tensions kept adding considerable downward pressure on the Oil prices. Street analysts hope a 1.6% drop in the April CAD Manufacturing Shipments data.

We’re not expecting too much movement ahead of the Fed’s interest rate and monetary policy decisions on Wednesday. Both the AUD/USD and NZD/USD are expected to remain under pressure because the Reserve Bank of Australia and the Reserve Bank of New Zealand are expected to cut interest rates in the

The Fed will begin its two-day policy meeting on Tuesday with its policy decision and public comments on Wednesday. The Bank of Japan (BOJ) is expected to leave interest rates at ultra-low levels, while maintaining its massive stimulus program on Thursday. Worries about Brexit are hitting the British Pound and

Demand remains subdued

Gold consolidates ahead of Fed

The new short-term range is $2.305 to $2.413. Its 50% level or pivot at $2.359 is controlling the direction of the market today. The price action suggests that a support base is forming. Prices aren’t likely to move much out of this range until traders get the next weather forecast.