Weekly Technical Forecast: Dollar, Equities, Crude and Gold All Extend Their Climb to Key Resistance
Australian Dollar Forecast – AUD/USD Eyes Resistance, AUD/NZD Resumes Fall, GBP/AUD May Bounce
AUD/USD sought to reverse losses this past week but stopped short of key resistance. AUD/NZD is a step closer to resuming its dominant downtrend. GBP/AUD may bounce in the near term.
Oil Forecast –The 2019 Crude Bull Market Has Arrived
There you have it! Crude has gained 21% year to date after the US noted new possible sanctions for Venezuela’s PDVSA and that Saudi could cut production further.
British Pound Forecast – GBPUSD& EURGBP
Sterling is on the ropes against a strong US dollar, but is still just about holding its own, while EURGBP may turn lower as the Euro continues to fall out of favor.
US Dollar Forecast – Dollar Within Reach of Two-Year High but Reversal Pressure High
The Dollar closed out another positive week, but progress towards the multi-year highs set in November and December is frustratingly slow for bulls. So, is it provocative breakout or comfortable reversal next week?
Gold Forecast – Gold Prices Stopped Short of Resuming Dominant Uptrend, Watch RSI
Gold prices attempted to resume the dominant uptrend, stopping short for resistance at 1323.60. Fading upside momentum may undermine upside progress ahead with support at 1302.97.
Euro Forecast – Euro Flirting with Support Break
The Euro flip-flopped last week as it tested important support, with character in price action showing signs of changing it may be on the cusp of developing meaningful downside momentum.
Equity Forecast – Technical Outlook: S&P 500, DAX
Following a weekly gain of over 2% the S&P 500 eyes key topside resistance. DAX sees notable bounce off trendline support.
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