Forecasts & Analysis, Page 6

  • Christopher Lewis
    Christopher Lewis

    GBP/JPY Price Forecast – British pound bounces from the ¥145 level

    As this pair is so highly sensitive to all things dealing with the British pound, and of course we have the headlines out there when it comes to the Brexit, it is no surprise that we continue to see a lot of choppiness. Every time we rally, the market turned

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  • Christopher Lewis
    Christopher Lewis

    EUR/USD Price Forecast – Euro struggles to keep gains

    The Euro initially tried to rally during the trading session on Friday but gave back gains almost immediately as we are getting ready to head into the weekend and of course most traders won’t want to have a bunch risk on going into the weekend as we continue to have

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  • Christopher Lewis
    Christopher Lewis

    AUD/USD Price Forecast – Australian dollar recovers slightly

    The Australian dollar continues to suffer at the hands of a potential trade war, and of course headlines out there will continue to push this market around. The 0.73 level has been an area of selling pressure, and we are approaching it as I record this. I think that we

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  • Anil Panchal
    Anil Panchal

    Technical Update For Gold, Silver & WTI Crude Oil: 16.11.2018

    GOLDHaving reversed from 200-week SMA, Gold couldn’t sustain its pullback & took another U-turn from $1196 targeting $1220; however, its further advances might again struggle to last long as 200-week SMA level of $1234.50 still stand strong to disappoint buyers. In case the bullion cross $1234.50 on a weekly closing

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  • James Hyerczyk
    James Hyerczyk

    E-mini S&P 500 Index (ES) Futures Technical Analysis – November 16, 2018 Forecast

    December E-mini S&P 500 Index futures are expected to open lower based on the pre-market trade. Weakness in the tech sector is being blamed for the early selling pressure. The market is trading inside yesterday’s range since there was no follow-through to the upside following yesterday’s closing price reversal bottom.Weekly

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  • Colin First
    Colin First

    Bitcoin and Ethereum Price Forecast – Bitcoin Likely To Reclaim $6000 Handle Shortly

    Bitcoin recently made a sharp drop but has found support at the $5,200 area where bulls were likely waiting to buy on dips. This has spurred a recovery rally with momentum pulling the price all the way above $5600 mark during European market hours on Friday. If the momentum carries

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  • James Hyerczyk
    James Hyerczyk

    EUR/USD Mid-Session Technical Analysis for November 16, 2018

    The Euro is trading nearly flat after giving up earlier gains. The single-currency was supported early after reports out of Italy said that Italian Prime Minister Giuseppe Conte was looking to work with the EU over his government’s 2019 budget, which was rejected by Brussels earlier in the week. Concerns

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  • FXTM
    FXTM

    Wall Street ends five-day Losing Streak: Sterling Plummets

    Open your FXTM account todayU.S. stocks finally managed to end a five-day losing streak yesterday supported by the Tech, Financial and Energy sectors, thanks to unofficial reports stating that further U.S. tariffs on Chinese imports would be put on hold. Although U.S. Trade Representative Robert Lighthizer denied the report shortly

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  • Colin First
    Colin First

    USD/CAD Daily Price Forecast – USD/CAD Near Weekly Lows As Loonie Gained Upper Hand With Rising Crude Oil Price

    After spending the majority of yesterday in a relatively tight range above the 1.32 mark, the USD/CAD pair came under a bearish pressure in the last hour as commodity-sensitive loonie started to gather strength on the back of a deep recovery seen in crude oil. Although the weekly report published

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  • James Hyerczyk
    James Hyerczyk

    Natural Gas Price Fundamental Daily Forecast – Large Build, Return to Normal Temps Could Drive Prices Below $4.00

    Natural gas is trading nearly flat early Friday after yesterday’s blood bath completely reversed the previous day’s spike to a multi-year high. The inability to follow-though to the downside suggests the market may have found value. The tight range suggest that both buyers and sellers may have learned valuable lessons

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  • James Hyerczyk
    James Hyerczyk

    Price of Gold Fundamental Daily Forecast – Stronger Euro Should Weaken Dollar Index, Underpin Gold Prices

    Gold futures are edging higher on Friday, helped by a weaker U.S. Dollar, flat Treasury yields and a slight drop in demand of risky assets. After a nearly two week sell-off, gold is in a position to close higher for the week. The addition of a new higher bottom at

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  • Colin First
    Colin First

    Commodities Daily Forecast – November 16, 2018

    GoldThe gold prices have slightly rallied higher during the Thursday’s session as the $1200 level underneath offering strong support to the market. The market for quite a some is consolidating between the $1400 to $1200 range, and if it breaks down below the $1175 level, then it could probably reach

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  • Colin First
    Colin First

    Forex Daily Outlook – November 16, 2018

    EUR/USDThe pair initially rallied during the Thursday’s session but found enough resistance around the 1.1350 level to roll back and break below the 1.13 level. The market is thrown off the track by recent Brexit headlines, Italian debt crisis situation and Fed raising the interest rates. If the market breaks

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – Sentiment May Be Getting Ready to Shift to Upside

    U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are moving higher early Friday, but remain inside Tuesday’s wide range. The price action suggests a support base is being formed. I haven’t seen any evidence of strong counter-trend buying so I’ll have to chalk up the three day move

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  • Colin First
    Colin First

    DAX Index Daily Price Forecast – DAX To Erase Yesterday’s Loss & Trade Positive

    Germany equities were lower at the close on Thursday, as losses in the Retail, Media and Financial Services sectors propelled shares lower. At the close in Frankfurt, the DAX fell 0.52%, while the MDAX index lost 1.15%, and the TecDAX index fell 0.77%. Declining stocks outnumbered rising ones by 491

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  • James Hyerczyk
    James Hyerczyk

    Crude Oil Price Update – Trying to Establish Support Base Inside Major Retracement Zone

    U.S. West Texas Intermediate crude oil futures are inching higher on Friday on speculation OPEC and other non-OPEC countries are planning to start withholding supply soon. Putting a lid on prices, however, are concerns over rising U.S. production. On Thursday, the U.S. Energy Information Administration reported a 10.3 million barrel

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  • Colin First
    Colin First

    GBP/USD Price Forecast – GBP/USD Range Bound Post Sharp Decline As Traders Await Further Updates

    The GBP/USD is unmoved in early Friday action as broader markets await more significant confirmations beyond the rumors. According to unverified reporting by the UK’s Daily Telegraph, the UK’s ruling Conservative party’s coalition deal with Northern Ireland’s DUP could be axed unless the Tories call for a no-confidence vote in

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  • Colin First
    Colin First

    EUR/USD Price Forecast – EUR/USD above 1.30 Handle Ahead of Draghi’s speech Bulls & Bears Wage War for Control

    EUR/USD was trodden down overnight over Brexit turmoil with UK ministers quitting their positions in protest to PM May’s negotiated deal with the EU that effectively does not meet the UK’s electorate’s vote. The threat of a challenge to PM May’s authority plunges European politics into higher levels of uncertainty. 

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  • James Hyerczyk
    James Hyerczyk

    Gold Price Futures (GC) Technical Analysis – Closest Upside Target $1221.30, Nearest Downside Target $1206.60

    Gold prices are trading mixed early Friday with the U.S. Dollar continuing to influence its direction. Gold traders are trying to decide once again whether it is an investment or a safe-haven asset. Gold should weaken if it is treated like an investment because rising U.S. interest rates will make

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  • James Hyerczyk
    James Hyerczyk

    AUD/USD Forex Technical Analysis – Direction Controlled by Major Retracement Zone at .7252 to .7307

    The Australian Dollar is trading lower early Friday, but is still in a position to post a strong close for the week. The Forex pair picked up strength this week on the back of the announcement of a meeting between high-ranking officials of the U.S. and China over the lingering

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