Forecasts & Analysis |

It’s a mixed start to the day for the majors. Failure to break back through early highs would bring support levels into play.

It’s a bullish start to the day for the majors after yesterday’s late rally. Steering clear of the pivot levels would leave resistance levels in play.

Friday’s price action suggests the direction of the March U.S. Dollar Index on Monday will be determined by trader reaction to 92.310.

The closing price reversal bottom chart pattern indicates the direction of the index on Monday will be determined by trader reaction to 12797.00.

The direction of the April Comex gold market on Monday is likely to be determined by trader reaction to the major Fibonacci level at $1711.70.

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Commentary last week reported currency pairs EUR/USD 1.2061, AUD/USD 0.7657 and USD/CAD 1.2783 were located in crucial positions to determine much lower on a break or hold and travel higher. EUR/USD broke and traded 169 pips lower to 1.1892.

The direction of the March E-mini Dow Jones Industrial Average on Monday is likely to be determined by trader reaction to the minor pivot at 31273.

Taking out $66.92 could trigger an acceleration to the upside with the psychological $70 level the next upside target.

Now really apropos is our anticipatory piece from two weeks ago (“Gold’s Near-Term Brush with the 1600s”) as ’tis become reality. Gold settled out the week yesterday (Friday) at 1698 (almost kissing where ’twas a year ago in the above chart) and has now traded in tow to as low