Forecasts & Analysis, Page 3

Gold markets went back and forth during the trading session on Thursday, as we continue to hang about a significant support level based upon technical analysis, but there are a lot of moving pieces that could push this market.

The US dollar pulled back against the Japanese yen during trading on Thursday, as we continue to struggle to break above the ¥112 level with any great momentum.

The British pound continues to drift a bit lower during the trading session on Thursday as the 1.30 level of course attracts a lot of attention. Overall, the market looks very likely to test major levels of the next few days.

The British pound has drifted a bit lower against most currencies over the last several days, and the Japanese yen will be any different. At this point though, we are approaching a very interesting level.

The Euro broke down significantly during the day on Thursday but continues to see a lot of support just below. With that being the case, it’s very likely that the market will continue to be choppy and difficult to deal with but in the end it’s very likely that the

The Australian dollar continues to grind sideways just below an important technical figure, so it makes sense that we simply can’t get anywhere. With that being the case, more sideways and listless trading is probably ahead.

If buyers take control then look for a test of a pair of uptrending Gann angles at $64.15 and $64.17. Overtaking $64.17 will indicate the buying is getting stronger. This could trigger an acceleration to the upside with $64.72 the next major target.

Based on the early price action and the current price at $1277.60, the direction of the June Comex gold market the rest of the session is likely to be determined by trader reaction to yesterday’s close at $1276.80.

Volume is expected to be light because of the upcoming long Easter holiday weekend. Therefore, be careful buying strength and selling weakness. Also there is the increased possibility of a choppy, two-sided trade. Additionally, taking out 7652.25 will turn the index lower for this holiday-shortened week.  

Based on the early price action and the current price at 26497, the direction of the June E-mini Dow Jones Industrial Average the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at 26529.

Based on the early price action and the current price at 2906.25, the direction of the June E-mini S&P 500 Index is likely to be determined by trader reaction to the downtrending Gann angle at 2907.50.

Based on the early price action and the current price at 1.1241, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the potential support cluster at 1.1238.

StocksS&P500 futures have been falling since the second half of Wednesday, losing more than 1% from the peak levels. Market participants are trying to stick to thier profits after the recent rally, which sent the US and Chinese indices to multi-month highs. The JPY has touched lows against the dollar

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. This creates the potential for a “sell the rumor, buy the fact” situation.

Thin-trading conditions are contributing to today’s early two-sided trade. This price action is likely to continue throughout the session. Throughout the week, gold has been pressured by improving economic data in the U.S. and China. With the emergence of weaker data from the Euro Zone, traders now have to make

This time, the CAD Retails numbers are expected to report positive data to the prior negative numbers. Loonie continued to remain subdued within the range of 1.3282/1.3402 levels since April 1.

The markets could experience choppy, two-sided trading today due to thin, pre-holiday volume, and renewed concerns over future demand due to the weak Euro Zone PMI data. Earlier in the week some of those concerns were offset by stronger-than-expected economic data from China.

The pair remained silent in the last couple of sessions amid lack of Brexit headlines. The Fundamentals may try to push down the GBP/USD but, the Technicals seem to come for rescue.

The US stock markets took a nosedive early in the regular trading session after the QQQ briefly advanced to new All-Time Highs yesterday’s morning. With the QQQ and other symbols nearing fresh new highs, traders should expect volatility to increase as trading systems and traders to look for any signs

Unfortunately for equity investors, the surprisingly robust China GDP data failed to ignite a rally on Wall Street as US investors turn focus to domestic concerns.