Forecasts & Analysis

The downside bias appears to be ready to resume with the formation of a potentially bearish secondary lower top at 90.595.

The weather remains mixed

Home prices surge

The direction of the April Comex gold market into the close on Tuesday will be determined by trader reaction to the minor 50% level at $1849.70.

The direction of the March WTI crude oil market into the close is likely to be determined by trader reaction to $52.69.

Based on the current price at .7739, the direction of the AUD/USD into the close will be determined by trader reaction to the pivot at .7740.

USD/CAD declined below the 20 EMA and is trying to settle below the support at 1.2700.

Stock markets initially pulled back on Tuesday but then turned around to show signs of bullishness. At this point, it looks as if they are waiting on the FOMC.

Silver markets rallied a bit on Tuesday, bouncing from the 50 day EMA. at the end of the day the market looks as if it is simply waiting on the FOMC.

Crude oil continues to drift sideways overall as we have gotten a bit extended. Shooting stars from the last two weeks could signal a pullback coming.