|Day's Range||1,279.30 - 1,292.90|
The EUR/GBP pair initially tried to rally during the week, but as you can see ran into a bit of a want the 0.90 level. The British pound itself exploded against the US dollar several times, and it looks likely that we will continue to see a lot of volatility over here. The 0.88 level … Continue reading EUR/GBP forecast for the week of October 23, 2017, Technical Analysis
Investing.com – Gold prices fell on Friday amid a sharp rise in the dollar on growing expectations of tax reform after the Senate approved the Republican-backed budget.
Gold prices moved lower on Friday, whipsawing after testing the 10-day moving average and closing near the session lows. A stronger than expected Canadian CPI helped weigh on gold prices. Support on gold is seen near the October lows at 1,260. Momentum is neutral as the MACD (moving average convergence divergence) index prints near the … Continue reading Gold Price Prediction for October 23, 2017
Investing.com - Crude oil prices bounced off session lows on Friday, after traders locked in profits from the commodity's recent gains as optimism surrounding a gradual tightening of the market continued to support.
Investing.com - Gold prices remained lower on Friday, as the U.S. dollar was still broadly supported by fresh hopes for a major U.S. tax overhaul.
Comex gold futures were down $3.54 or about 0.28% at $1,286.44 a troy ounce by 03:00 a.m. ET (07:00 GMT). The greenback was boosted after the U.S. Senate late Thursday approved a budget blueprint for the 2018 fiscal year that will pave the way for Republicans to pursue tax-cut plans without Democratic support. The Republican-controlled Senate voted for the budget measure by 51-to-49, which would add up to $1.5 trillion to the federal deficit over the next ten years in order to pay for proposed tax cuts.
Gold prices recovered on Thursday after hitting their lowest level in more than a week. The short-covering rally was strong enough to produce a potentially bullish technical pattern on the charts. December Comex Gold futures settled at $1290.00, up $7.00 or +0.55%. The early session weakness was fueled by firmer U.S. Treasury yields, however, the … Continue reading Price of Gold Fundamental Daily Forecast – Pressured After Senate Passes Budget, Moving Republicans Closer to Tax Reform
The financial markets were mixed on Thursday with several posting volatile two-sided trades as investors reacted to economic data and outside events. In the U.S., investors had the opportunity to react to Weekly Unemployment Claims, the Philadelphia Fed Manufacturing Index and the Conference Board’s Leading Index. According to the U.S. Department of Labor, in the … Continue reading U.S. Weekly Unemployment Claims Hit Lowest Level Since 1973
Investing.com – Crude oil prices settled lower on Thursday as data showing a larger than expected build-up of product inventories continued to weigh on sentiment.
Gold prices rebounded on Thursday as the dollar eased, as risk aversion reentered the markets following a softer than expected Chinese GDP report. Prices rebounded back to resistance near the 10-day moving average at 1,288. Support on the yellow metal is seen near the October lows at 1,260. Positive momentum is decelerating as the MACD … Continue reading Gold Price Prediction for October 20, 2017
Crude oil price traded under pressure on Thursday following a report from Chinese authorities that showed that GDP declined from the prior quarter. The move prompted a selloff in riskier assets, which weighed on crude oil prices. This comes on the heels of Wednesday’s larger than expected decline in crude oil inventories, which helped price … Continue reading Crude Oil Price Analysis for October 20, 2017
On a YTD (year-to-date) basis, RGLD, AEM, and FNV have risen 38.3%, 7.3%, and 33.3%, respectively, while Goldcorp has seen a YTD loss of 3.4%.
Investing.com - Gold prices turned higher on Thursday, erasing earlier losses as the U.S. dollar weakened despite the release of upbeat U.S. economic reports.
The EUR/USD is trading higher shortly before the U.S. opening. The Forex pair is following through to the upside following yesterday’s closing price reversal bottom. Today’s price action has also formed a new main and secondary higher bottom. Short-covering ahead of next week’s European Central Bank meeting may be driving the rally while concerns over … Continue reading EUR/USD Mid-Session Technical Analysis for October 19, 2017
The BTCUSD trades within a rising price channel with support at its bottom around 5110 on the 4-hour chart, indicating that the price remains in the uptrend from 2970. As long as the price is in the channel, the fall from 5870 could be treated as consolidation of the uptrend and a further rise is … Continue reading Bitcoin Runs In Two Price Channels With Different Time Frame
December Comex Gold futures are recovering from early session weakness on geopolitical concerns. However, gains are being limited by rising U.S. Treasury yields and a firmer U.S. Dollar. Today’s rally is being fueled by events in Europe. According to CNBC, “The Catalonia crisis is expected to reach new heights on Thursday with Spain looking likely … Continue reading Gold Price Futures (GC) Technical Analysis – October 19, 2017 Forecast
The Euro has gained moderately against the U.S Dollar. Spain may be in focus for Euro traders today. Gold has continued to lose some ground as global equities have kept their bullish rallies moving forward. EUR/USD: Euro Ebbs Higher The Euro remains near the 1.18 level against the U.S Dollar. Political circumstances in Spain are … Continue reading Daily Market Forecast, October 19, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD
Natural gas prices posted a volatile two-sided trade on Wednesday before settling lower for the session. The price action continued to be driven by the short-term weather outlook. December Natural Gas futures settled at $3.065, down $0.063 or -2.01%. According to natgasweather.com for the period October 18 to October 24, “Warm up high pressure will … Continue reading Natural Gas Price Fundamental Daily Forecast – Upcoming Cold Blast Won’t Last Long Enough to Sustain Rally
Gold prices continued to retreat on Wednesday in reaction to a firmer U.S. Dollar. The Greenback was underpinned by rising U.S. Treasury yields. The catalyst behind the rise in yields was speculation that the next U.S. Federal Reserve chief may be a monetary policy hawk. Gold sellers are also responding to rising optimism over U.S. … Continue reading Price of Gold Fundamental Daily Forecast – Next Major Move Hinges on U.S. Tax Reform
U.S. West Texas Intermediate and international-benchmark Brent crude oil rose modestly on Wednesday after a surprising drop in U.S. refinery runs and an unexpected increase in inventories of gasoline and diesel. December WTI crude oil settled at $52.26, up $0.15 or +0.29% and January Brent crude oil finished the session at $57.80, up $0.26 or … Continue reading Oil Price Fundamental Daily Forecast – Bullish Factors Lining Up