Forecasts & Analysis | Technical, Page

The Australian Dollar plunged on Friday on concerns about a weakening economy in China and Europe. The selling was fueled by safe-haven flows into the U.S. Dollar as risk appetite weakened following softer-than-expected economic data from China and the Euro Zone.The selling initially began early in the session after China

The Dollar/Yen closed lower on Friday as extreme weakness in the global equity markets encouraged investors to seek shelter in the safe-haven Japanese Yen. Sellers hit the equity markets hard early in the session following the release of weaker-than-expected retail sales and industrial production from China. Later in the session,

The New Zealand Dollar plunged on Friday as investors reacted to bearish economic news from China. The news sparked selling in global equity markets which led to the aggressive selling of risky currencies. Furthermore, it drove investors into the safe-haven U.S. Dollar. The catalysts behind the selling was the news

Natural gas prices tumbled again on Friday, breaking through support levels and poised to test trend line support. Prices were down nearly 7% going into the last hour of trading on Friday. Warmer than normal weather is forecast to cover most of the United States for the next 2-weeks which

The S&P 500 tried to rally during the week but found the 2700 level be too much. Weak economic numbers on Friday pushed the  S&P 500 lower as well, forming an inverted hammer. At this point, I think if we break down below the 2600 level again, and I do

Silver markets continue to go back and forth during the week, as it looks likely that the $15 level should offer resistance. That’s an area that has been difficult to break above for some time, and I think that is the main theme here, if we can break above the

WTI Crude OilThe WTI Crude Oil market went back and forth during the week, settling on a negative candle stick. We are currently hanging about the $50 handle, an area that should continue to be supported. If we were to break down below the $50 level, then I think this

Natural gas markets broke down significantly during the week, slicing through the bottom of a massive triangle that had formed after consolidating in this rather high level. People were worried about an oversupply of natural gas, which could only at best be a temporary thing, but now we are looking

Gold markets broke down during the week, slicing through the $1250 level again after initially starting the week above it. I do think there is support underneath though, as we have a massive uptrend line. Pay attention to the US dollar, because if it rallies it could continue to put

The biggest problem that this pair faces right now is that it’s the end of the year. Because of this, I think that the market will continue to go back and forth in the short term type of environment. Longer-term traders need to pay attention to the ¥112 level, and

The British pound broke down during the week, slicing through the 1.27 level, an area that has been rather supportive for a while. This is the bottom of a descending triangle, which measures for a move to the 1.22 handle. I do believe that we get down there, mainly because

The British pound continues to be very negative against the Japanese yen, as we have reached towards the ¥141 level. I think at this point, it’s very likely that the British pound will continue to struggle overall, as we have a lot of concerns around the world globally, as the

The Euro fell during the week, having a bit of a miserable run as we are closing much lower than we opened. However, there is a significant amount of support underneath at the 61.8% Fibonacci retracement level as you can see did noted by the Fibonacci retracement to on the

The Australian dollar has recently rallied over the last several weeks, but the previous week was a very negative looking, with this week initially rallying but finding trouble at a previous resistance barrier. Now while I do not think that we are looking at a massive break down waiting to

The S&P 500 continues to show weakness, as we have rolled over and broke down below the three shooting stars that had formed on the previous three days. At this point, it looks as if we are going to test the 2600 level, an area that has been massive support.

Silver markets fell a bit during the trading session on Friday, reaching towards the 50 day EMA. That’s an area that does tend to attract a lot of attention, but it is starting to offer support. That’s a good sign, so I think that the market may try to bounce

WTI Crude OilThe WTI Crude Oil market rallied at the very beginning of the session, only to break down and form a very negative candle stick. We are currently in a major wedge pattern, so I think at this point we will continue to see a lot of noise but

Natural gas markets broke down during the trading session on Friday, breaking through the 50 day EMA. At this point though, it should be pointed out that the continuation shooting star from Thursday has proven itself to be reliable, and it now looks as if rallies at this point will

Gold markets pulled back a bit during the trading session on Friday, giving back the gains from above $1250 that were found last week. I think at this point, the 50 day EMA could cause a bit of support, and if we turn around to break above the $1250 level

The US dollar has done very little during the trading session on Friday as we got a bit too close to the 114 level. At that area, we see significant resistance all the way to the 115 handle, so don’t be surprised at all if we turn around and roll