- FX Empire•7 hours ago
NZD/USD Forex Technical Analysis – Weekly Trend Changes to Up Over .6727 but Watch for Resistance at .6781
Based on last week’s price action and the close at .6680, the direction of the NZD/USD this week is likely to be determined by trader reaction to the 50% level or pivot at .6613.
- FX Empire•8 hours ago
AUD/USD Forex Technical Analysis – Facing Series of Retracement Zone Resistance Levels
Based on last week’s price action and the close at .7288, the direction of the AUD/USD this week is likely to be determined by trader reaction to the short-term 50% level at .7284.
- FX Empire•12 hours ago
USD/JPY Fundamental Weekly Forecast – Direction Hingeing on Reaction to Trade Dispute, Fed Rate Projections
It’s a tough call because we’re dealing with sentiment and not an absolute, but we could be looking at a risk-off trade this week if investors perceive the cancellation of trade talks between the United States and China as an escalation of the trade dispute between the two economic powerhouses. This could drive money into the safe-haven Japanese Yen.
- FX Empire•12 hours ago
AUD/USD and NZD/USD Fundamental Weekly Forecast – Cancellation of Trade Talks by China Could Weigh on Aussie, Kiwi
While an easing of trade tensions between the United States and China may have been the catalysts behind last week’s rally in the Aussie and Kiwi, the possibility of renewed concerns could take the currencies lower early this week. This is because late Friday, China announced it was cancelling its meeting with the U.S., and wouldn’t resume negotiations until after the November U.S. mid-term elections.
- FX Empire•17 hours ago
EUR/USD, Where to From Here?
The EUR/USD has been quite erratic since early 2015. The Eurozone economy has been showing signs of promise, with inflation finally hitting the 2% target and growth remaining decent. Unemployment is falling, although the periphery’s elevated levels keep it higher than many other western economies.
- FX Empire•19 hours ago
Price of Gold Fundamental Weekly Forecast – Dollar Could Strengthen, Gold Weaken After China Cancels Trade Meeting
The trade dispute and the dollar will continue to drive the price action in gold this week. However, this week, the dollar could strengthen and gold could weaken. This is because China called off the trade talks with the United States and said it wouldn’t meet with high level negotiators until after the November mid-term elections. Also contributing to the movement in gold will be the outcome of this week’s two-day Federal Open Market Committee meeting which culminates with the Fed’s interest rate and monetary policy decision on Wednesday, September 26.
- FX Empire•20 hours ago
NAGA Trader Raises the Bar for Social Trading Platforms with New Additions
The fastest growing social trading platform, which has taken the world of investing by storm, has its eyes set on becoming the Facebook of online trading. Judging by the 500,000 users already trading on it in the 2 years since its inception – it may actually be getting there faster than you think.
- FX Empire•23 hours ago
The Week Ahead – Geo-Politics and the FED to Drive the Markets
A choppy week ahead, with Trump at the UN, Theresa May at Tory Party Conference and the FED delivering a rate hike and projections.
- FX Empire•yesterday
Gold Price Futures (GC) Technical Analysis – Downside Momentum Could Drive Market into $1193.90 to $1187.50
Based on the close at $1201.30 and Friday’s price action, the direction of the December Comex Gold futures contract is likely to be determined by trader reaction to the short-term 50% level at $1193.90.
- FX Empire•yesterday
AUD/USD Forex Technical Analysis – Testing Key Retracement Zone at .7284 to .7332
Based on Friday’s close at .7288 and the late session weakness, the direction of the AUD/USD on Monday is likely to be determined by trader reaction to the main 50% level at .7284. The main trend is up according to the daily swing chart. However, momentum may have shifted to the downside with the formation of a minor closing price reversal top.
- FX Empire•yesterday
USD/JPY Forex Technical Analysis – Risk Off Session Could Pressure Dollar/Yen Early
Based on Friday’s close at 112.548 and the late session selling pressure, the direction of the USD/JPY on Monday is likely to be determined by trader reaction to Friday’s low at 112.430. The USD/JPY could feel some pressure early Monday so be prepared. Late Friday, China announced it would not continue trade talks with the U.S. This raises the stakes in the trade dispute. We could be looking at a “risk off” day.
- FX Empire•yesterday
NZD/USD Forex Technical Analysis – Trade Through .6667 Confirms Reversal Top, Targets .6600
Based on Friday’s close at .6680, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the 50% level at .6675. Late Friday, China canceled the trade talks with the U.S. This is potentially bearish so watch the downside early Monday.
- FX Empire•yesterday
Receding Risk Aversion Drives Dollar Lower Against Most Major Currencies
The U.S. Dollar finished lower against a basket of major currencies last week after an easing of tensions over the trade dispute between the United States and China encouraged investors to lift dollar hedges. The Reserve Bank of Australia (RBA) warned on risks to its outlook from U.S.-China trade tensions and weak wages, while reaffirming its next interest rate move would likely be a hike. The New Zealand Dollar was boosted after data showed its economy grew at a faster pace than expected in the second quarter. The Bank of Japan (BOJ) reiterated last Wednesday that it would keep interest rates extremely low “for an extended period,” holding to forward guidance it first introduced in July.
- FX Empire•yesterday
China Cancels Trade Meeting, OPEC May Raise Production by 500K
China dropped a potential bombshell late Friday when it canceled planned trade discussions with the United States. Gold prices edged lower on Friday as the U.S. Dollar firmed on renewed concerns over escalating trade tensions between the United States and China. A report showed OPEC and its allies were considering a coordinated increase in crude production.
- FX Empire•2 days ago
Gold Weekly Price Forecast – Gold markets struggle during the week again
Gold markets tried to rally during the week but found the $1215 level to be too resistive to go higher. In fact, we have formed a shooting star for the second week in a row, and that does suggest that we are really starting to try to break down from here.
- FX Empire•2 days ago
USD/JPY Weekly Price Forecast – US dollar pressing downtrend line
The US dollar is pressing the downtrend line from a larger consolidation area in the form of a symmetrical triangle. If we can break above the weekly candle stick, that could be a very good sign. However, in the current trade war environment it’s hard to tell whether that’s going to happen or not.
- FX Empire•2 days ago
GBP/USD Weekly Price Forecast – the British pound gets pummeled at the end of the week
The British pound initially tried to rally during the week, reaching towards the 1.33 level before pulling back to form a massive shooting star. This was in a negative sign, and I think it shows that we continue to follow the occasional headline as to where to go next. It looks as if the British pound is ready to roll over for a while, as Teresa May has suggested that the Brexit may be without a deal.
- FX Empire•2 days ago
GBP/JPY Weekly Price Forecast – British pound turns around drastically
The British pound turned around rather drastically on Friday, as Teresa May announced that the end result of the Brexit negotiations may be no deal.
- FX Empire•2 days ago
EUR/USD Weekly Price Forecast – Euro breaks through the downtrend line
The Euro broke through a downtrend line during the week, testing the vital 1.18 level above. That’s an area that has been the top of the overall consolidation, so it makes sense that it caused a little bit of resistance. I believe at this point it’s likely that participants are taking a bit of a breather more than anything else.
- FX Empire•2 days ago
AUD/USD Weekly Price Forecast – Australian dollar rallies for the week
The Australian dollar has exploded to the upside during the trading week, reaching towards the 0.73 handle. We have broken above the top of the previous couple of weeks, and I think it allows this market a little bit of bullish momentum going forward.
- FX Empire•2 days ago
Gold Price Forecast – Gold markets get hammered on US dollar strength
Gold markets got hammered during the trading session on Friday, as the $1215 level has offered too much in the way of resistance. Ultimately, this is a market that is reacting to the US dollar in general, which of course got a lift after volatility in the British pound.
- FX Empire•2 days ago
USD/JPY Price Forecast – US dollar quiet against Japanese yen
The US dollar was relatively quiet during the trading session on Friday, after initially rallying. The pair tends to be correlated to the stock markets overall, which had been a bit more positive early in the day.
- FX Empire•2 days ago
GBP/USD Price Forecast – British pound collapses on Friday as May stands tough
The British pound fell apart during the trading session on Friday, as Teresa May stated that she was sticking with her plan and wasn’t willing to bend watch when it comes to dealing with the European Union. With that being the case, the market looks very likely to continue to be very volatile.
- FX Empire•2 days ago
GBP/JPY Price Forecast – British pound collapses on Friday
The British pound collapsed on Friday, slicing through the previous downtrend line that had been resistance. By wiping out as much value as we have, it shows just how fickle the markets are going to be to headlines.
FX Empire•2 days agoEUR/USD Price Forecast – Euro fails at major resistance
The Euro fails at major resistance during the early hours on Friday, as we continue to see the 1.18 level offer major supply.
