Weekly Trading Forecast: Seeking Clear Dow, Dollar and Oil Trends Ahead
The holiday-shortened week proved a clear curb on the development of general risk trends, which in turn hamstrung many of the benchmark assets. Will a return of liquidity help charge enough volatility to settle the Dow’s proximity to record highs, clear the EURUSD’s inevitable break from a historically-tight range or return crude oil prices to trend?
Australian Dollar Forecast: AUD/USD and EUR/AUD May Be at Turning Points, Facing Trend Lines
The Australian Dollar may be at a turning point against the US Dollar and Euro. AUD/USD uptrend eyeing rising channel support as EUR/AUD may enter downtrend, 2017 trend line eyed.
Crude Oil Forecast: 50% Off the Lows – Can Bulls Continue Rally
Oil prices remained strong this week as price action held higher-low support; but bulls are getting shy around resistance – is a retracement nearing?
British Pound Forecast: GBPUSD, EURGBP & GBPNZD
Sterling (GBP) continues to trade in restrictive ranges across a selection of currencies but headline GBPUSD may soon break below 1.3000 as the US dollar pushes higher.
US Dollar Forecast: Big Test of Resistance Nearing
The US Dollar Index remains confined within a big-picture wedge, a test of the top of this pattern is just on the horizon.
Gold Forecast: XAU at Support, Fresh 2019 Lows Gold is down more-than 5.5% from the 2019 high with price now probing support at fresh yearly lows. These are the levels that matter on the XAU/USD weekly chart
Euro Forecast: EURUSD Counts Down to a Break but Euro Itself a Short-Term Bear Swing
There is value in assessing the Euro’s technical potential through its most liquid cross – EURUSD – but traders would do well to consider the single currency’s own bearings which paint a very different picture than range.
Equities Forecast: S&P 500, DAX, FTSE 100 Technical Forecast
Questions raised over possible S&P 500 reversal, DAX eyes critical trendline, while FTSE 100 uptrend remains intact.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.