Forecasts & Analysis, Page 2

The British pound has gone back and forth during trading on Friday, as we continue to see a lot of volatility in Sterling. Quite frankly, there is nothing on the horizon that looks like the Brexit is going to be salt, so this should offer a nice selling opportunity at

The British pound continues to go back and forth against the Japanese yen which makes quite a bit of sense considering we have so much in the way of risk out there right now. Remember, this pair will fall if there is more of a “risk off” attitude out there,

The Euro continued to reach lower levels during the trading session on Friday, as we have continued to see a bit of negativity in the Euro, but with Jerome Powell getting ready to release a speech in Wyoming, we could see a bit of a short-term reaction.

The Australian dollar went back and forth during trading on Friday yet again, as we are still stuck in a bit of a consolidative rut. However, the biggest problem this market has comes from other countries, not Australia itself.

This week was not a busy one for macroeconomic events, and it was also the quietest period of the summer lull, so most of the markets did not have strong moves. The brightest event of the week promises to be the speech of the Fed Powell’s head in Jackson Hole,

Based on the early price action and the current price and the current price at 2909.00, the direction of the September E-mini S&P 500 Index on Friday is likely to be determined by trader reaction to the 50% level at 2902.50 and the Fibonacci level at 2932.50.

Based on the early price action, the direction of the EUR/USD on Friday is likely to be determined by trader reaction to the uptrending Gann angle at 1.1067.

If this week’s downside momentum continues to build then look for sellers to try to drive the market through $2.132. This could trigger sell stops and aggressive long liquidation down to the contract low at $2.045. It all depends on whether the short-sellers want to squeeze as much profit out

Crude prices are likely to rally today if Powell is hawkish and supports additional rate cuts. However, gains could be limited as long as there are lingering worries over U.S.-China trade relations.

Gold is likely to rally if Powell is dovish, however, gains could be limited because traders have priced in the 25-basis point rate cut in September. Powell is going to have to go above or beyond the one rate cut in order to trigger a meaningful rally.

After a sharp move higher yesterday on the back of positive Brexit comments, the British pound has eased lower in early trading on Friday.

Based on the early price action and the current price at 7753.25, the direction of the September E-mini NASDAQ-100 Index on Friday is likely to be determined by trader reaction to the short-term Fibonacci level at 7735.75.

A relief rally in EUR/USD yesterday was short-lived as sellers pushed the exchange rate back towards the lower bound of a one-week range. Powell will be speaking later today, and volatility is expected.

Based on the early price action, the direction of the AUD/USD on Friday is likely to be determined by trader reaction to the pivot at .6749.

Today, long-awaited, crucial event for the future of the American Dollar – Jackson Hole Symposium. Speech from Jerome Powell to be precise. Today is the day, where we should find out the FED’s sentiment towards the USD and their outlook on the monetary policy.

The direction of the USD/JPY on Friday will be determined by the momentum created by Powell at 14:00 GMT. Holding above the pivot at 106.013 is giving the market an early upside bias. Traders should watch this level all session.

EOS bucks the trend early to sit in the red. Following Thursday’s rally, a rebound may be on the cards should the broader market stay green…

Market attention might stay over Canadian June MoM Retail Sales figures. On the daily chart, ATR depicted 66 pips volatility forecast for the day.

Since the NZD/USD is trading inside yesterday’s range, which tends to indicate investor indecision and impending volatility, the direction of the Forex pair the rest of the session is likely to be determined by trader reaction to yesterday’s high at .6411 and yesterday’s low at .6362. Additionally, this chart pattern

Based on the early price action and Thursday’s close at 26225, the direction of the September E-mini Dow Jones Industrial Average on Friday is likely to be determined by trader reaction to the short-term 50% level at 26215.