Forecasts & Analysis | Technical

Crude oil prices continued to climb on Thursday buoyed by Wednesday larger than expected draw in petroleum inventories reported by the Department of Energy.  Inventories of distillates, which include heating oil and diesel fuel, have dropped to the lower end of the 5-year range, ahead of fall in the U.S. and Europe.  Traders will need … Continue reading Crude Oil Price Analysis for September 22, 2017

The AUD/USD broke sharply lower on Thursday as buyers succumbed to dovish comments from a Reserve Bank of Australia official and the U.S. Federal Reserve’s hawkish commentary on Wednesday. On Thursday, RBA Governor Philip Lowe appeared to play down the prospect of an Australian rate hike in the near future. “A rise in global interest … Continue reading AUD/USD Forex Technical Analysis – Trend Turns Down after RBA’s Lowe Downplays Rate Hike in Near Future

December Comex High Grade Copper hit its lowest level since August 17 on Thursday after the U.S. Federal Reserve raised expectations for a third rate hike this year at its Federal Open Market Committee meeting yesterday. The news drove up U.S. Treasury yields which made the U.S. Dollar a more popular investment, reducing demand for … Continue reading Comex High Grade Copper Price Futures (HG) Technical Analysis – Rapidly Approaching $2.9150 to $2.8525 Support Zone

  Natural gas prices tumbled on Thursday slicing through short-term support near the 10-day moving average at 3.03, following a larger than expected build in inventories reported on Thursday by the Department of Energy. Support is seen near an upward sloping trend line that comes in near 2.92. Resistance is seen near former support near … Continue reading Natural Gas Price Analysis for September 22, 2017

The EUR/USD rebounded slightly on Thursday following a solid decline on Wednesday following the Fed’s decision to begin QT. The Fed announced its balance sheet runoff which will begin in October and left interest rates unchanged. Though FOMC participants looked past the near-term disruption effects of the 3-category-4 hurricanes that have hit the U.S., they … Continue reading EUR/USD Daily Technical Analysis for September 22, 2017

December E-mini NASDAQ-100 Index futures are trading lower shortly after the cash market opening. Yesterday’s price action was highlighted by volatility. The movement was strong enough to change the main trend to down and confirm a double-top chart pattern. Daily Technical Analysis The main trend is down according to the daily swing chart. The trend … Continue reading E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – September 21, 2017 Forecast

December E-mini Dow Jones Industrial Average futures are trading slightly lower shortly before the cash market opening. The market produced a powerful outside move chart pattern on Wednesday before closing higher. Yesterday’s price action suggests there are investors willing to sell at current price levels. Daily Technical Analysis The main trend is up according to … Continue reading E-mini Dow Jones Industrial Average (YM) Futures Analysis – September 21, 2017 Forecast

December E-mini S&P 500 Index futures are trading flat-to-lower shortly before the cash market opening. Yesterday’s Fed announcements triggered a volatile two-sided trade with bank stocks providing the most support for the index. Daily Technical Analysis The main trend is up according to the daily swing chart. A trade through 2507.25 will signal a resumption … Continue reading E-mini S&P 500 Index (ES) Futures Technical Analysis – September 21, 2017 Forecast

December U.S. Dollar Index futures are trading slightly better after yesterday’s sharp rise. The market is trading inside yesterday’s range which indicates investor indecision and impending volatility. Today’s price action also indicates that yesterday’s move was probably generated by short-covering rather than aggressive buying. This usually means we’ll have a pullback into support. The reason … Continue reading US Dollar Index (DX) Futures Technical Analysis – September 21, 2017 Forecast

USD/JPY USDJPY’s reversal from 107.30 presently helps the pair to trade beyond 200-day SMA for the first-time in more than two months; however, it is necessary for the quote to register a daily closing above 112.20 SMA figure in order to aim for 113.60 and the resistance-line of a broader descending trend-channel, at 114.00 now. … Continue reading Technical Checks For USD/JPY, GBP/JPY, CAD/JPY & CHF/JPY: 21.09.2017

November West Texas Intermediate crude oil prices are under pressure due to a stronger U.S. Dollar and concerns over increasing U.S. production. Traders are also paring positions ahead of Friday’s OPEC and non-OPEC meeting to discuss extending the deal to cut production or deepen production cuts. Daily Technical Analysis The main trend is up according … Continue reading Crude Oil Price Update – Sustained Move Under $50.30 Puts Bears in Control

December Comex Gold is trading lower shortly before the regular session opening. The selling is continuing after Wednesday’s sell-off was triggered by a surprisingly hawkish U.S. Federal Reserve monetary policy statement. Daily Technical Analysis The main trend is down according to the daily swing chart. The trend turned down on a move through $1302.30 on … Continue reading Gold Price Futures (GC) Technical Analysis – September 21, 2017 Forecast

The EUR/USD is recovering slightly following yesterday’s sharp sell-off. The selling was driven by the U.S. Federal Reserve which sounded more hawkish than expected in its monetary policy statement. The central bank left its benchmark interest rate unchanged and laid out new details of its plan to begin trimming its balance sheet in October as … Continue reading EUR/USD Mid-Session Technical Analysis for September 21, 2017

XAUUSD failed to break above the descending trend line from 1357.45 to 1334.29 on its 4-hour chart and extended its downside movement to as low as 1293.25. On the daily chart, the XAUUSD pair moved below a major support trend line from 1204.77 to 1275.64, indicating that the upside movement from 1204.77 had completed at … Continue reading Gold Price Moved Below Major Support Trend Line

NZD/USD is consolidating lower after recent surge. Four hourly resistance is given at 0.7420. Strong support is given at 0.7301 which aligns with the 50EMA, a break of which shall show continued bearish consolidation. The long term technical pattern is reversing. The FOMC had paved the way for further decline. Long term support can be … Continue reading Mid Day Market Updates – NZD/USD

Find out how the interbank lines up with the technicals at 8 AM GMT. These are the Main Daily Trading Signals. Euro/Dollar sees 5 buy prompts in the short-term and 5 bearish models in the mid-term. The long-term chart is divided between red and neutral studies, but, in contrast, the interbank is neutral at less … Continue reading Forex Trading Signals – September 21, 2017

It’s the morning after the Fed meeting; let’s see where the Support and Resistance levels stand. And Euro/Dollar has seen quote a drop, now trading in the range limited by R1 of 1 1890 and S1 of 1 1860. R2 is a psychological level with 7 studies, and the lowest resistance line has found 6 … Continue reading Thursday Support and Resistance Levels – September 21, 2017

Gold The gold market gained some strength from the lower levels on Wednesday’s session as the market was waiting for the outcome of Fed’s meeting. Now, the Fed has indicated to start the shrinking of its huge balance sheet early, the gold price will probably fall. It has strong support near the $1300 level and … Continue reading Commodities Daily Forecast – September 21, 2017

EUR/USD The pair was mostly sideways through the day on Wednesday hovering around the 1.20 level. The pair is going through a lot of news and resistance in this area. If the pair breaks above the 1.20 handle, then it will be very positive for the market and will eventually move towards 1.25 handle. With economic … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 21, 2017

The German index has gone sideways during the session on Wednesday, as we continue to hover above the €12,500 level. That’s a sign of stability after a very impulsive move to the upside, thereby giving me more confidence in the uptrend than ever. We have filled the gap from the open on Monday, and should … Continue reading DAX Index Price Forecast September 21, 2017, Technical Analysis