• The Week Ahead: Monetary Policy, Stats and an Impeachment in Focus
    FX Empire

    The Week Ahead: Monetary Policy, Stats and an Impeachment in Focus

    It’s a particularly busy week ahead… A heavy economic calendar, the BoE and Trump’s possible impeachment will be in focus…

  • The Weekly Wrap – The FED, Trade and the Tories Drove the Majors
    FX Empire

    The Weekly Wrap – The FED, Trade and the Tories Drove the Majors

    It was a big week for the global financial markets. The FED delivered for Trump, with Trump delivering a phase 1 deal and Johnson crushing the opposition.

  • MarketWatch

    S&P 500, Nasdaq notch records to end the week as market weighs merits of limited China trade-deal

    The S&P 500 and the Nasdaq Composite finished the week at records Friday but enthusiasm over an announced China-U.S. partial trade deal, which had sparked buying Thursday, faded as investors weighed aspects of the so-called phase-one pact. The Dow Jones Industrial Average closed up about 0.01% at 28,135, missing a record close at 28,164, while the S&P 500 index advanced less than 0.01% to 3,169, enough for a fresh all time high. The Nasdaq Composite Index closed up 0.2% to end at 8,735, marking its second straight all-time closing peak. For the week, the Dow gained 0.4%, the S&P 500 returned 0.7%, while the technology-laden Nasdaq gained 0.9% for the five-day period. Underpinning the week's advance was the easing of fears --at least temporarily--surrounding two of the biggest points of friction for stock-market investors: U.K. elections and trade tensions. The U.S. and China announced a limited agreement Friday to halt the trade war, eliminating tariffs that were set to go into effect Sunday; but some critics worry that the phase-one deal may not accomplish as much to alleviate future trade tensions as had been expected--a point that some say doesn't entirely help business leaders make strategic plans. Meanwhile, a resounding election victory for Prime Minister Boris Johnson's Conservative Party raised hopes for a quick divorce from the European Union. In corporate news, shares of Live Nation Entertainment Inc tumbled after the Wall Street Journal reported that the Justice Department was preparing to take legal action against the company, alleging that it sought to strong-arm concert venues into using its dominant Ticketmaster subsidiary.

  • Gold Price Futures (GC) Technical Analysis – Evidence of Accumulation Inside Potentially Bullish Rectangular Chart Pattern
    FX Empire

    Gold Price Futures (GC) Technical Analysis – Evidence of Accumulation Inside Potentially Bullish Rectangular Chart Pattern

    The market has been forming a rectangular chart pattern with a slight upside bias since bottoming at $1453.10 on November 12. The two higher bottoms at $1456.60 and $1463.00 and the two higher tops at $1489.90 and $1491.60 could be a sign of accumulation.

  • Gold Price Forecast – Could Gold Reach $1420 by Christmas
    FX Empire

    Gold Price Forecast – Could Gold Reach $1420 by Christmas

    After peaking in September, gold entered a prolonged corrective phase. The back and forth trade negotiations kept prices in limbo and delayed the final breakdown. With a phase I deal intact, gold could reach $1420 and a sustainable bottom by Christmas.

  • Gold Weekly Price Forecast – Gold Markets Run Into Resistance
    FX Empire

    Gold Weekly Price Forecast – Gold Markets Run Into Resistance

    The gold markets rallied a bit during the trading week, slamming into the top of the down trending channel. However, we have given back the gains from that area, so it makes quite a bit of sense that the market stays within this range.

  • Gold Price Forecast – Gold Markets Rally On Friday
    FX Empire

    Gold Price Forecast – Gold Markets Rally On Friday

    Gold markets rallied a bit during the trading session on Friday, reaching towards the 50 day EMA as the Americans and the Chinese have come to terms on an agreement it appears. This is a bit interesting, because it should be negative for gold.

  • USD/JPY Weekly Price Forecast – Dollar Continues To Test Resistance
    FX Empire

    USD/JPY Weekly Price Forecast – Dollar Continues To Test Resistance

    The USD/JPY pair rallied a bit during the week, as we continue to grind back and forth between the ¥108 level on the bottom and the ¥110 level on the top. All things being equal, the market looks likely to continue grinding forward until we can get some type of certainty globally.

  • GBP/USD Weekly Price Forecast – British Pound Spikes After Election Results
    FX Empire

    GBP/USD Weekly Price Forecast – British Pound Spikes After Election Results

    The British pound spiked early on Friday after the election results confirmed a Tory victory in parliament. That being said though, the 1.35 level has been like a brick wall for this pair.

  • GBP/JPY Weekly Price Forecast – British Pound Spikes After Election
    FX Empire

    GBP/JPY Weekly Price Forecast – British Pound Spikes After Election

    The British pound spike higher against most currencies around the world after the election of a Tory Parliament. By doing so, the markets have broken some resistance, and found more above.

  • EUR/USD Weekly Price Forecast – Euro Slams Into Major Resistance
    FX Empire

    EUR/USD Weekly Price Forecast – Euro Slams Into Major Resistance

    The Euro rallied significantly during the week, slamming into major resistance at the 1.12 handle, and the 50 week EMA. Beyond that, there is also a lot of resistance in the form of a downtrend line.

  • AUD/USD Weekly Price Forecast – Australian Dollar Slams Into Resistance
    FX Empire

    AUD/USD Weekly Price Forecast – Australian Dollar Slams Into Resistance

    The Australian dollar rally during the week but continues to find a lot of resistance at the 50 week EMA. Ultimately, we gave back quite a bit of the gains on Friday as confusion still reigns when it comes to the US/China trade war

  • USD/JPY Price Forecast – US Dollar Climbs Again
    FX Empire

    USD/JPY Price Forecast – US Dollar Climbs Again

    The US dollar climbed during the trading session on Friday as it was announced that there was “an agreement in principle.” Between the United States and China.

  • GBP/USD Price Forecast – British Pound Rallies After Election Results
    FX Empire

    GBP/USD Price Forecast – British Pound Rallies After Election Results

    The British pound rallied rather significantly during the trading session on Friday as election results came out in favor of a conservative Parliament. That being said, the market has seen a bit of a pullback from the highs.

  • GBP/JPY Price Forecast – British Pound Gaps Higher After Election Results
    FX Empire

    GBP/JPY Price Forecast – British Pound Gaps Higher After Election Results

    The British pound has gapped higher against the Japanese yen after the election results showed the conservatives taking over Parliament with a huge majority. At this point, it looks like Brexit will happen.

  • EUR/USD Price Forecast – Euro Continues To Find Resistance
    FX Empire

    EUR/USD Price Forecast – Euro Continues To Find Resistance

    The Euro continues to find plenty of resistance near the 61.8% Fibonacci retracement level from the bigger move, and of course the downtrend line that I have marked on the chart. The 1.12 level is psychologically important as well, and we have seen a bit of a push back from there.

  • AUD/USD Price Forecast – Australian Dollar Get Hammered
    FX Empire

    AUD/USD Price Forecast – Australian Dollar Get Hammered

    The Australian dollar initially tried to break out during the trading session on Friday but as you can see the 200 day EMA has offered significant amount of resistance.

  • Australian Dollar At an Important Juncture
    FX Empire

    Australian Dollar At an Important Juncture

    It can be certainly said that AUD/USD has surprised on the upside recently. Having reached several important resistances, and attempting breakout above them, what else can be said about the pair’s current and upcoming performance?

  • Investing.com

    Stocks - Wall Street Sees Small Gains as Trade Euphoria Wanes

    Investing.com - A day after the phase one U.S. China trade deal was finally struck, a hangover set in.

  • Canadian dollar clings to weekly gain as greenback's appeal fades
    Reuters

    Canadian dollar clings to weekly gain as greenback's appeal fades

    The Canadian dollar edged lower against its U.S. counterpart on Friday but held near an earlier five-week high as the reduction of some global investment risks weighed on the greenback. "I think CAD was caught in this broader U.S. dollar move," said Simon Côté, managing director, risk management solutions at National Bank Financial. Historically cheap rates for the market's pricing of expected volatility showed that investors were not prepared for a major move in the U.S. dollar, even though it was testing key support levels against a number of major currencies, including euro , sterling and the Mexican peso , Côté said.

  • Investing.com

    Gold Posts Surprise Rise, Defying China Deal; Palladium Eyes $2,000

    Investing.com – Gold bulls seem determined to show their disbelief that the China deal touted by President Donald Trump will do magic. They sent prices higher Friday, as the yellow metal remained a hedge to the 17-month trade war.

  • EUR/USD Mid-Session Technical Analysis for December 13, 2019
    FX Empire

    EUR/USD Mid-Session Technical Analysis for December 13, 2019

    Based on the early price action and the current price at 1.1171, the direction of the EUR/USD the rest of the session on Friday is likely to be determined by trader reaction to the Fibonacci level at 1.1185 and the steep uptrending Gann angle at 1.1181.

  • Trump congratulates Boris Johnson and calls for ‘massive’ U.S.-U.K. trade deal
    MarketWatch

    Trump congratulates Boris Johnson and calls for ‘massive’ U.S.-U.K. trade deal

    In a tweet following Johnson’s win, Trump said: “Congratulations to Boris Johnson on his great WIN! Britain and the United States will now be free to strike a massive new Trade Deal after BREXIT.”