Forecasts & Analysis | Technical

EURGBP’s bullish movement from the April 18 low of 0.8313 extended to as high as 0.8866. After touching the resistance of the January 16 high of 0.8851, the pair pulled back and formed a sideways movement in a trading range between 0.8719 and 0.8866. On the upside There is an ascending price channel with support … Continue reading EUR/GBP Is Facing Neckline Resistance

September Comex High Grade Copper futures closed higher last week and in a position to continue the move if the buying is strong enough to take out the key retracement zone that has stopped rallies the last three weeks. Copper was supported last week by a weaker U.S. Dollar which drove up foreign demand, reports … Continue reading Comex High Grade Copper Price Futures (HG) Technical Analysis – Move Through $2.6675 Will Be Bullish

The AUD/USD closed lower last week as investors reacted negatively to the Reserve Bank of Australia’s monetary policy minutes. The RBA minutes covered the same topics previously highlighted. The RBA also said that housing and employment merit watching, as does the Australian Dollar strength. Technical Analysis The daily chart has been choppy and directionless so … Continue reading AUD/USD Forex Technical Analysis – Last Week’s Inside Move Means Decision Time for Investors

Commodities prices continue to be investors’ safe haven as political uncertainty and weaker than expected economic data raised investors concerns. Falling crude oil prices for the fifth weekly loss pulled commodity prices down as oversupply continued the ‘black gold’ downtrend. The technical analysis, that includes the indicators’ data and major pivot points for WTI Oil, Gold, Silver and Copper as traded on spot market as of June … Continue reading Commodities Technical Analysis, June 26th – June 30th, 2017

DAX 30 The DAX index had a pretty eventful week but those who look at where it ended up for the week would not realise how much of volatility and promise that it had shown during the course of the week, only to lose it all as the week progressed and then end up back … Continue reading Weekly Global Indexes Technical Analysis, Jun 26 – Jun 30

S&P 500 The S&P 500 had a volatile session on Friday, initially going sideways and then dipping down towards the 2430 handle. There’s enough support there to turn the market around though, and with the rebalancing of the Russell 2000, it makes sense that we saw this type of choppiness. I still believe in the … Continue reading Major US Indices Forecast, June 26, 2017, Technical Analysis

The U.S. Dollar posted a two-sided trade last week, but still managed to eke out a small gain. However, the weak close on Friday suggests that downside momentum may be building. Early in the week, the dollar was driven higher by the previous week’s hawkish interest rate decision and monetary policy statement. Several Fed speakers … Continue reading Weekly Forex Technical Analysis, Jun 26 – Jun 30, 2017

S&P 500 The S&P 500 initially tried to rally during the week, testing the 2450 handle. However, we pulled back from that level in order to form a shooting star. I believe that there is a significant amount of support just below though, so having said that I think that we will eventually go to … Continue reading Major US Indices, Forecast for The Week of June 26, 2017, Technical Analysis

September U.S. Dollar Index futures started the week with a surge as investors continued to respond to the U.S. Federal Reserve’s interest rate hike and hawkish monetary policy statement from the week before. Bullish investors gave back most of their gains by the close on Friday as investors expressed doubts about the Fed’s ability to … Continue reading US Dollar Index (DX) Futures Technical Analysis – Needs Major Change in Investor Sentiment to Turn Bullish

The German index initially tried to rally during the week but continues to find the area near the 13,000 handle to be a bit resistant. That makes sense, we are a little bit overextended but I think it’s only a matter of time before the buyers return as the 12,500 level looks to be supportive, … Continue reading DAX Price forecast for the week of June 26, 2017, Technical Analysis

Dow Jones 30 The Dow Jones 30 had a volatile week, initially dropping, but then breaking well above the 21,400 level. By the end of the week, we rolled right back over and form a shooting star. I believe that this market continues to go higher, and I believe that the Dow Jones 30 is … Continue reading Dow Jones 30 and NASDAQ 100 Forecast for the Week of June 26, 2017, Technical Analysis

The S&P 500 initially tried to rally during the week, testing the 2450 handle. However, we pulled back from that level in order to form a shooting star. I believe that there is a significant amount of support just below though, so having said that I think that we will eventually go to the upside. … Continue reading S&P 500 Forecast for the Week of June 26, 2017, Technical Analysis

The FTSE 100 initially tried to rally during the week, but found it a bit difficult above the 7500 level. We turned around to fall significantly and reach towards the 7400 level under that, which of course was supportive. With this being the case, it’s likely the buyers will return, as 7400 has been so … Continue reading FTSE 100 Price forecast for the week of June 26, 2017, Technical Analysis

Silver markets initially tried to rally during the week but then rolled right back over to test the uptrend line just below. We ended up bouncing above the $16.50 level, which of course is a bullish sign. Even more bullish is the hammer that we formed for the weekly candle, and a break above the … Continue reading Silver forecast for the week of June 26, 2017, Technical Analysis

WTI Crude Oil The WTI Crude Oil market broke down during the week, slicing through the $45 level and even breaking down below the $43 level. Now that we have done that, the market turned around to show signs of life at the $42 level. Ultimately though, I think we do breakdown below the bottom … Continue reading Crude Oil forecast for the week of June 26, 2017, Technical Analysis

Natural gas market gapped lower at the open on Monday, and then broke down significantly. However, as we went deeper into the week, we turned around to form a hammer. This hammer suggests that there is going to be some buying, but the $3.00 level above should be resistance. I don’t have any interest in … Continue reading Natural Gas forecast for the week of June 26, 2017, Technical Analysis

Gold markets initially fell during the week, but found enough support at the uptrend line that has been so prevalent in the market that we turned around to form a significant hammer. The hammer sits just above the $1250 level, an area that will course attract quite a bit of attention. If we can break … Continue reading Gold Price Forecast for the Week of June 26, 2017, Technical Analysis

The US dollar rallied during the week, breaking above the top of the hammer from the previous week. That’s a very bullish sign, especially considering that the hammer formed on the 50% Fibonacci retracement level. A break above the top of the candle for the week should send this market towards the 112.50 level. If … Continue reading USD/JPY forecast for the week of June 26, 2017, Technical Analysis

The US dollar rallied during the week, bouncing off the 1.32 handle, and more importantly the uptrend line from the channel that has been so stringent over the last year. With the oil markets falling significantly, it makes sense that the US dollar should continue to strengthen if this continues to be the case, as … Continue reading USD/CAD forecast for the week of June 26, 2017, Technical Analysis

The New Zealand dollar initially fell during the week, but found enough support underneath to turn around and form a bullish candle. The bullish candle is testing a downtrend line, but if we can break above that I think that the market should then go to the 0.75 handle. Ultimately, this is a market that … Continue reading NZD/USD forecast for the week of June 26, 2017, Technical Analysis