Forecasts & Analysis, Page 4

Based on today’s wide range and current price at 1.1085, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at 1.1112 and the uptrending Gann angle at 1.1066.

The direction depends on whether the short sellers want to give in a little to trigger a short-covering rally so they can short again at better prices. Or, if the short sellers smell blood and want to punish the last of the longs while squeezing every drop of profit out

The S&P500 closed up over the key 20-day moving average for the first time in 16 trading days. What does this mean for the world’s most important equity market?

Once again, the battle for Bitcoin unfolds around the $10K threshold. According to the CMC, Bitcoin has lost more than 2% during the last 24 hours.

Based on the early price action and the current price at 2924.25, the direction of the September E-mini S&P 500 Index on Thursday is likely to be determined by trader reaction to the short-term Fibonacci level at 2932.50.

We expect to see modest moves in the gold market today ahead of Powell’s speech on Friday. Based on yesterday’s brief inversion in the bond market following the release of the Fed minutes, it’s clear that bond investors still fear the Fed will not be aggressive enough in its rate

GBP/USD has fallen into a range, although this range is narrowing and a breakout appears to be imminent.

Based on the early price action and the current price at 7734.75, the direction of the September E-mini NASDAQ-100 Index futures contract on Thursday is likely to be determined by trader reaction to the short-term Fibonacci level at 7735.75.

Dear Traders,The USD/SGD has formed a bullish reversal candle (hammer) at the POC zone and we should see a bullish continuation.The market is currently supported at the Wizz lvl 7  and the price is bouncing up. If we see a bullish close above 1.3870, the price should hit 1.3897, 1.3942

Despite the Fed meeting minutes yesterday and positive Euro data today, EUR/USD continues to trade within a range that started a week ago.

It’s often like this prior to market-moving events. Prices keep trading in a narrow consolidation, dropping subtle clues here and there. The context remains though, and coupled with the preceding price action, it allows to us to see the market tipping its hand. So, how have we prepared for what’s

The published minutes of the Federal Reserve Board’s previous meeting showed a serious split in opinions on monetary policy.

The markets want to hear that the Fed is ready to be aggressive in its fight to prevent a global recession. If Powell delivers the right message, crude oil prices could rally on expectations that an aggressive Fed policy would lead to higher demand.

US Weekly Jobless Claim data and Markit PMI data release remain at the center stage for Thursday. On the Canadian side, the June MoM Wholesale Sales data will come out at around 12:30 GMT.

US equity markets enjoyed another day of rally on Wednesday although FOMC minutes indicated a divergence in views within the central bank members.

Based on the early price action and the current price at .6769, the direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the uptrending Gann angle at .6787.

With increased talk of a future recession in the US, I have taken a look at a number of indicators that make interesting viewing. I also offer a number of indicators/charts I look at that have provided reliable signals of US recessions in the past.

On Wednesday, the Forex pair closed higher after the release of the Fed minutes, however, it traded inside the previous session’s range, which indicates investor indecision and impending volatility.

Based on the early price action and the current price at .6383, the direction of the NZD/USD the rest of the session is likely to be determined by trader reaction to yesterday’s close at .6405 The Kiwi is being dragged lower by the weakening Chinese yuan which is widely viewed

The FOMC minutes had a distinctly stale flavour to them as the logical expectation were for a more hawkish tone after the Fed massively underwhelmed on the July rate cut, maintained a positive outlook, and had two dissenters. Beyond that, there wasn’t a great deal in these minutes that was