Forecasts & Analysis, Page 5

EUR/USDThe Euro bounced a little during the Thursday’s session but got enough resistance at the 1.13 level, which kept the pair volatile. With the poor economic numbers from the US, the market is likely to favour a move to the upside and try moving towards the top of the consolidation

A series of U.S. reports could move gold prices on Friday. Weak numbers will increase the odds of a pause in Fed rate hikes. This would likely put pressure on the dollar while make dollar-denominated gold a more attractive investment.

The script for WTI and Brent crude prices is expected to remain the same on Friday. OPEC-led production cuts and Venezuelan sanctions are expected to underpin prices while concerns over rising U.S. production and slowing demand will limit gains.

Tightening German-US yield spreads and weak USD leads to consolidative price action.

Based on the early price action, the direction of the March E-mini NASDAQ-100 Index is likely to be determined by trader reaction to a short-term uptrending Gann angle at 7001.00.

Monero’s on the move early, with $48 levels in sight. Breaking through to $50 levels would be unlikely, barring a major crypto-rally.

Based on the early price action, the direction of the AUD/USD on Friday is likely to be determined by trader reaction to the 50% level at .7079 and the uptrending Gann angle at .7074.

The bulls are looking to reverse the mid-week losses ahead of the weekend, a hold onto key levels needed to support upward momentum later.

Soft Guidance from Coca-Cola Weighs on the Dow

Cryptocurrency market shows signs of exhaustion in ongoing rally as news-driven momentum fails to sustain price action above critical price levels.

Inventories Decline in Line with Expectations

Disappointing macro data and crude oil price undermined Loonie bulls while strength of US Dollar in broad market helped stage solid upside move.

Stock markets stalled a bit during the trading session on Thursday, as we have received poor economic numbers coming out of the United States involving retail sales and PPI.

Silver markets gapped a bit lower to kick off the day on Thursday, rallied a bit to test that gap, and then fell again. We are currently testing the $15.50 level, which of course is significant.

Crude oil markets continue to grind higher, but we continue to see the same massive resistance area pushing the market back down. At this point, I think that the market is likely to continue to go back and forth, but eventually we will get a breakout, and that will be

Natural gas markets have continued to go a bit sideways as the market hangs around very low levels. Because of this, I’m simply sitting on my hands and waiting for the appropriate trading opportunity.

Gold markets fell initially during the trading session on Thursday but has turned around to break back above the 20 day EMA, showing signs of resiliency yet again.

Soft Retail Sales weigh on the dollar and buoy gold

The US dollar rolled over during trading on Thursday as poor economic numbers came out of the United States. Beyond that, we were at the 200 day EMA, which of course is something that you are paying attention to.

The British pound continues to grind back and forth overall, as we have seen a lot of concern when it comes to the Brexit. One headline after another comes out as politicians look to posture, wrecking the markets in the process.