Forecasts & Analysis, Page 2

The Australian dollar initially tried to rally during the day on Friday but gave back the gains to continue the negativity that we had seen on Thursday. However, there is plenty of support underneath so the question is whether or not this will be value?

Production continues to rise driven by shale production

Gold ends the week in the red

Based on Friday’s limited price action, trader reaction to the short-term Fibonacci level at 1.1238 is likely to determine the near-term direction of the EUR/USD. Essentially, the EUR/USD could strengthen over 1.1254 and weaken under 1.1238. However, the extremely light volume will lead to limited gains and limited losses. Furthermore,

Overall, gold futures are fairly priced, given the strengthening U.S. Dollar, steady Treasury yields and a stock market that sits about 1 percent below its all-time highs.

With prices headed toward the psychological $2.50 level, the major concern for short-sellers is not the bearish fundamentals, but the technically oversold conditions. The current mild shoulder season has pushed bullish traders to the sidelines as they await the summer cooling season. This being said, if $2.50 is taken out

Traders are facing two major issues at this time: Further pressure on Iran and whether OPEC and its allies, including Russia will continue the deal to reduce production.

The loonie bulls rose slightly amid rising crude prices. The USD/CAD stood well above the significant 200-days SMA developing a bullish outlook.

USDXThe US Dollar Index jumped to an area of highs since November last year amid a sale of European currencies. Since November last year, the dollar has been experiencing difficulties with growth above 97.00 on USDX, both due to the general demand for risky assets in global markets and due

From the Technical front, the pair seems to experience a slight upward shift in the near term. However, it may bounce back from 1.3022 support trend line to sustain downtrend.

The Euro bears remain subdued anticipating the strong expected US Housing data. Notably, the 200-days SMA traded 39 pips above the EUR/USD alluding a bear call.

It’s back in the red for Cardano’s ADA, which coughed up $0.08 levels early on. It could get messy…

It’s deep red for the majors early on. With support levels already tested, it could be a painful day ahead for the bulls.

Energy shares are weighed on by lower natural gas prices

Prices drop as inventories rise more than expected

Soft EU PMIs fail to weigh on gold prices

The S&P 500 went back and forth during the trading session on Thursday as we continue to hang about the crucial 2900 level. Ultimately, there would have been an argument about liquidity as the market heads towards the Easter weekend.

Silver markets continue to go sideways during the trading session on Thursday as we head into the Easter weekend. With that being the case in the fact that the futures markets are closed on Friday, CFD markets will be trusted.

Crude oil markets continue to do very little as we are approaching a major resistance barrier. There are a lot of moving pieces right now, so quite frankly we continue to struggle to show clarity.

Natural gas markets broke down during the trading session on Thursday, after the inventory report turned right back around to show signs of life. By doing so we are forming a bit of a hammer and that is important as it is right at a major bottom.