Forecasts & Analysis | Technical

December Comex Gold futures are edging higher shortly before the regular session opening. Helping to support the market is a slightly weaker U.S. Dollar and lower demand for higher-risk assets. Traders are also watching military exercises in South Korea while looking ahead to this week’s central bankers’ symposium in Jackson Hole, Wyoming. Technical Analysis The … Continue reading Gold Price Futures (GC) Technical Analysis – August 21, 2017 Forecast

The EUR/USD is trading slightly lower shortly before the U.S. opening. The Forex pair is trading inside Friday’s range which suggests investor indecision and impending volatility. There are no major reports today. Most of the major traders may be waiting to hear from Fed Chair Janet Yellen and European Central Bank President Mario Draghi on … Continue reading EUR/USD Mid-Session Technical Analysis for August 21, 2017

September U.S. Dollar Index futures are trading slightly higher shortly before the regular session opening. The range is tight and volume is below average. Barring any unexpected news, the market could remain range bound all session. There are no major economic events today so there is nothing to guide traders. Technical Analysis The main trend … Continue reading US Dollar Index (DX) Futures Technical Analysis – August 21, 2017 Forecast

These are the Main Daily Trading Signals for Monday. Here’s how the interbank compares with the technicals at 8 AM GMT. Bearish models prevail on Euro/Dollar’s hourly chart, but the 4 and 24-hour scales turn neutral with 5 and 6 studies, respectively, and they are in line with the less than 12% long interbank. The … Continue reading Forex Trading Signals – August 21, 2017

EURUSD stays in a bullish price channel on its daily chart and remains in the uptrend from 1.0569. As long as the price is in the channel, the pullback from 1.1909 could be treated as consolidation of the uptrend. On the 4-hour chart, the EURUSD pair ran in a falling price channel, so deeper decline … Continue reading EUR/USD Remains In Uptrend From 1.0569

The GBP/USD has formed a broadening bottom / megaphone pattern exactly at W L3 and W H3 camarilla pivot. Originally this is a bullish reversal pattern and the price could reverse from the 1.2815-25 zone if it gets there. However due to its expanded trend lines the pattern can also show a bearish rejection at … Continue reading GBP/USD Broadening Bottom Pattern On H4 Timeframe

December Comex High Grade Copper futures inched up earlier in the session, taking out last week’s high. The market is piggy-backing the rally in London zinc that sent that market to its highest price in 10-years. A firmer U.S. Dollar is helping to limit gains in the dollar-denominated futures contract. LME copper rallied 1 percent … Continue reading Comex High Grade Copper Price Futures (HG) Technical Analysis – August 21, 2017 Forecast

The AUD/USD is trading slightly lower early Monday. There are no major economic reports today in either the U.S. or Australia. The minor report from Australia at 1430 GMT is the Conference Board’s Leading Index. Barring any political or geopolitical events, the primary market driver this week will be U.S. Treasury yields. Higher yields will … Continue reading AUD/USD Forex Technical Analysis – August 21, 2017 Forecast

It’s a new trading week, and the team is back with another Support and Resistance Level Report. We start with traders’ favourite pair, the Euro/Dollar, which has R1 of 1 1760 and S1 of 1 1730. Standing at a 20 day moving average, R1 is well confirmed with 12 models. R2 is a 2 year … Continue reading Monday Support and Resistance Levels – August 21, 2017

Gold The gold market tested the important $1300 level but retracted from that level on Friday’s session. The market has always followed a consolidation after hitting the $1300 mark in last several months. If the gold breaks below the $1285 level, then markets will go much lower and is going to test the $1275 and … Continue reading Commodities Daily Forecast – August 21, 2017

EUR/USD The market is still on a consolidation mode, slightly rallied on Friday’s trade session without any major movements. The pair has tested the key support level of 1.17 couple of times and has successfully retained the level in past couple of session. The hammer candle stick pattern from the lower level indicating an uptrend. The … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – August 21, 2017

Resistance level 1.1822 Pivot Level 1.1721 Support Level 1.1633, 1.1574 and 1.14573 Technical Analysis The EUR/USD pair attempted to breach the 1.1822 level keeping the stability of the daily close below it until end of the week, which keeps the correctional bearish trend scenario valid until now. The pair is waiting to resume the bearish … Continue reading Weekly Technical Outlook: EUR/USD; Market Forecasts for August 21st – August 25th

With the bitcoin prices unable to break through the $4500 region, it was time for some correction in the prices as it fell by around 10% and the prices now trade just above the $4000 region as of this writing and this region is likely to provide some good support in the short term. We … Continue reading Bitcoin and Ethereum Price Forecast – Prices Correct But Look Solid

Gold closed the previous week unchanged as investors speculate whether the Fed outlook is hawkish or dovish. Gold prices have been also affected by the geopolitical tension between North Korea sand the US and the terror attack in Spain. Gold trades around the $1291 and is expected to test $1300 as geopolitical tension continue to … Continue reading Commodities Technical Analysis, August 21st – August 25th, 2017

S&P 500 The S&P 500 initially went sideways during the session on Friday, slicing through the 2425 handle at one point but turned around to show extreme amounts of bullish pressure. Because of this, I believe that the S&P 500 is probably going to go reaching towards the 2450 handle. However, look at the weekly … Continue reading Major US Indices Forecast, August 21, 2017, Technical Analysis

The US Dollar closed the previous week slightly higher on increased demand for high risk assets as well as hawkish comments by New York Fed President William Dudley who said in an interview that he favored another interest rate hike this year. In the week ahead, investors will closely watch the Jackson Hole summit which is … Continue reading Weekly Forex Technical Analysis, Aug 21 – Aug 25, 2017

S&P 500 The S&P 500 initially tried to rally, but found enough resistance at the 2475 level to turn around and form a massive shooting star. The market fell as low as 2420 or so, so it looks very bearish to me. The 2400 level underneath is massive support, so if we were to break … Continue reading Major US Indices, Forecast for The Week of August 21, 2017, Technical Analysis

December Comex High Grade Copper futures surged to a multi-year high last week, driven higher by aggressive hedge fund buying and a rally in other industrial metals like aluminum and zinc. The market faces some headwinds because of worries about China and Fed policy. Chinese policy tightened during the first half of the year, leading … Continue reading Comex High Grade Copper Price Futures (HG) Technical Analysis – Hedge Funds Buying Has to Continue, or Rally Will Stall

September U.S. Dollar Index futures posted a two-sided trade last week before closing higher. At various times during the week, traders were influenced by U.S. economic data, the latest Fed minutes, political issues in Washington and geopolitical events in Spain. Most of the gains in the index can be attributed to the weakness in the … Continue reading US Dollar Index (DX) Futures Technical Analysis – Survives Volatile Week; Closes Over Major Pivot at 93.225

After taking out the previous week’s low, the AUD/USD came roaring back last week to close higher. It was a volatile week with investors reacting to domestic data, Fed minutes, Washington turmoil and geopolitical events. Technical Analysis The main trend is up according to the weekly swing chart. However, momentum is trending lower. Last week’s … Continue reading AUD/USD Forex Technical Analysis – Weekly Pivot at .7936 Controlling Direction