AUDUSD Forecast June 29, 2017, Technical Analysis
The AUDUSD pair initially tried to rally on Wednesday, but found enough resistance near the 0.7625 handle to turn around and drop towards the 0.7580 level.
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AUDUSD Forecast June 14, 2017, Technical Analysis
The Australian dollar try to rally during the session on Tuesday, but found enough resistance above the turnaround for a bit of a shooting star.
EURUSD Forecast May 10, 2017, Technical Analysis
After initially gapping higher on Monday, the EURUSD pair has fallen apart. This was a “buy the rumor, sell the news” type of situation when it came to the French elections, and this pullback has been absolutely brutal.
Crude Oil Remains Downbeat
Market participants in crude oil are continuing to shrug off persistent jawboning from oil ministers of some OPEC countries, most notably Saudi Arabia, about extending the production cuts into the second half of 2017, and possibly the first quarter of 2018.
GBPUSD Forecast May 2, 2017, Technical Analysis
The British pound continues to march higher during the Monday session, and as you can see I have a trendline on the hourly chart showing that we have seen buying pressure again and again.
Dollar Extends Gains In A Busy Week For US Data
The dollar has staged a broad-based rally today, which caused the GBP/USD to tumble to a new 31-year low and the EUR/USD momentarily dipped below its 200-day moving average once again.
Oil Higher Ahead Of OPEC Decision
Crude prices jumped in reaction to the latest weekly US crude stockpiles data but then quickly went into reverse gear, before bounce back once again.
NQ emini Back As Leader Of The Pack
Some are born to lead and others to follow, and the NQ emini has once again regained its rightful place as leader of US equity markets, following a period when it has been lagging behind its two sisters.
BOC Rate Decision Preview
Apart from Apple’s expected launch of the new iPhone, today’s other big event is the Bank of Canada’s rate decision, due at 15:00 BST (10:00 ET). Along with the consensus forecasts, we do not expect the BOC to make any changes to its policy.
Crude Turns Positive Ahead Of Oil Data
Oil prices swung wildly into the positive territory yesterday. The rally eventually came to a halt around the $50 handle for Brent and $48 for WTI, and both contracts have been trending lower from these levels until an hour or so ago.