Weekly Technical Forecast: Dow Eases Back from Record, Dollar Struggles to Light Fuse, Gold Holds Its Break
Gold pushed higher last week, keeping the trading bias pointed higher; may be some stop-and-go behavior but longs should have a favorable tailwind.
With US stocks teetering around all-time highs, volatility derived from earnings season could see the major markets fluctuate between key areas. Here are the levels to watch.
Oil bears got back into the driver’s seat this week after supply disruptions from Tropical Storm Barry turned out to be less-than-feared. Can bears continue to drive?
AUDUSD triggered one of the most recognizable reversal patterns in the technical scales this past week: an inverse head-and-shoulders pattern. But is this a spark that can truly catch fire in otherwise difficult markets?
DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.