Forecasts & Analysis, Page 4

Crude oil markets fell during most of the week but as we got the attack on the couple of oil tankers in the streets of her moods, oil markets have rallied. Doing so, we did of forming a hammer for the second week in a row.

Natural gas markets rallied a bit during the week, giving a bit of a bounce in what has been a very negative market. At this point in time, the $2.50 level is a major level to pay attention to.

Gold markets tried to break above the $1350 level during the week but gave back the gains on Friday. At this point, we have a lot of things to pay attention to, as we are pressing major resistance.

The US dollar has gone back and forth during the course of the week, as we gapped higher on Monday, and then simply went sideways forming daily shooting stars and hammers. Confusion is the main take away here.

The British pound pulled back against the US dollar during the week, as we continue to consolidate in what I see as a reasonably significant support level as I have marked on the chart.

The British pound struggled a bit during the trading week, as we continue to see a lot of nervousness in overall risk appetite. With that being the case, it makes sense that the Japanese yen would get a little bit of a rally.

The Euro initially shot higher during the week, but then rolled over to test a major support level. At this point, it’s likely that we will continue to see a lot of choppy in this market, but it makes sense if you think about it, as the market has been

The Australian dollar fell during most of the weekends we continue to go back and forth. Overall, we continue to bounce around between the 0.68 level on the bottom and the 0.70 level on the top.

The stock markets in America initially fell to open up the day on Friday but continue to find support on dips. You can see that the gap has been filled, and now it looks as if we are trying to rally right along the range that we have been in

Silver markets rallied a bit during the trading session on Friday, cracking above the $15.00 at one point. However, once the adults came into play at the open pit session, the sellers came in and crushed the market.

Crude oil markets rallied a bit on Friday to close out the week. At this point, it looks as if we are basically in the middle of consolidation, and at this point were in the middle of that range.

Let’s see what the upcoming week prepares for us.

Natural gas markets rallied significantly on Friday to close out the week, as inventories don’t justify the massive selloff that we have seen, or at the very least we are oversold.

Gold markets rallied initially during the trading session on Friday, breaking above the $1350 level. That being said, we did not pulling back from there and forming a massive shooting star.

The US dollar pulled back to find buyers during the Friday session against the Japanese yen but found buyers underneath to keep the market somewhat levitated. Ultimately, this is a market that looks as if it is ready to try a move to the upside.

The British pound pulled back a bit during the trading session on Friday before bouncing slightly. At this point, it looks as if the market is trying to form some type of base, so approaching the market as such could be beneficial.

The British pound fell against the Japanese yen during trading on Friday, reaching down towards the lows that were recently printed. Overall, if we can break down below the ¥136.50 level, then things get truly interesting.

The Euro initially shot higher during trading on Friday, but then pulled back a bit to show signs of weakness again. Ultimately, we are testing a major support level underneath so it’s likely that we continue to see volatility.

The Australian dollar fell during trading on Friday, breaking below the 0.69 handle. That being said, there is still plenty of support underneath so I think that the downside is probably somewhat limited, but you can say the same thing about the upside.

Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the resistance cluster at 1.1267 to 1.1268. A sustained move under 1.1267 will indicate the presence of sellers. The first target is the 50% level