Forecasts & Analysis | Technical, Page

The Loonie pair finally made a triumphant march, breaching the 1.3099 healthy resistance mark. Somehow, the sturdy 1.3146 resistance confined the upside, putting a lid over the pair’s daily gains.

Based on the early price action and the current price at 1.1178, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the Fibonacci level at 1.1185.

The British pound is trying to post a third consecutive day of losses against the greenback. The pair has been weighed by a stronger dollar and ongoing Brexit concerns

Based on the early price action and the current price at $63.27, the direction of the September Brent crude oil futures contract the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at $63.64 and the 50% level at $63.06.

EUR/USD has broken out of a one-week range and appears to be making a run for stops below an important low set in the middle of June.

Dear Traders,GOLD has made a retracement towards 1414 zone. MTF analysis shows a possible rejection towards next red levels.1422 needs to break in order to provide bulls with intraday momentum. 1414-1418 is the zone where we should see fresh buyers. On a positive momentum 1426 will be the target. However,

Congress inks a two-year U.S. debt ceiling and budget deal. Oil prices remain supported by geopolitical risk out of the Middle East. Gold prices steadied on Monday ahead of the U.S. Fed’s interest rate decision at its month-end meeting next week.

Based on the early price action, the direction of the AUD/USD on Tuesday is likely to be determined by trader reaction to the 50% level at .7030.

Cardano’s ADA joins the majors in the red and things could get messy if there’s no recovery to $0.059 levels…

It’s back in the red for the majors. A move back through to key levels would be needed to signal a rebound later in the day.

Based on the early price action and the current price at 7919.75, the direction of the September E-mini NASDAQ-100 Index into the close is likely to be determined by trader reaction to the pivot at 7908.50.

A tropical storm is heading to the Gulf of Mexico

Gold consolidates in a tight range

Based on the early price action and the current price at $1426.90, the direction of the August Comex gold futures contract into the close will likely be determined by trader reaction to the short-term uptrending Gann angle at $1423.50.

Stock markets were pretty quiet during the trading session on Monday, as we continue to see a lot of malaise when it comes to global markets. It’s the wrong time of year for a lot of volume, as most traders are focusing more on the vacation season than anything else.

Silver markets continue to rally during the trading session on Monday, as we continue to reach towards the $16.50 level. That being said though, the market is most certainly a bit overbought at this point so short-term pullbacks would be expected.

The crude oil markets try to rally a bit during the trading session after gapping higher on Monday, but quite frankly it can’t seem to sustain rallies at all recently, and of course Monday wasn’t going to be any different.

Natural gas markets rallied significantly during the trading session on Monday to start the week off on the right foot. Early in the day on Monday, we had crossed the psychologically important $2.30 level.

Gold markets continue to grind during the open on Monday, hanging just above the $1425 level. Because of this, I think that the market is going to be a bit hesitant to make a move, but we are most certainly in and uptrend overall.

The US dollar rallied into the ¥180 level early during the trading session on Monday, in what looks to be choppy and perhaps constructive pattern. It doesn’t take much imagination to notice that the ¥107 level has been massive support as of late.