Weekly Technical Forecast: Equities, Crude, Currencies Signal Tentative Reversal
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Australian Dollar Forecast – Australian Dollar Strength Falls Apart, Can AUD/CAD Breakout Last?
Strength in the Australian Dollar fell apart, but confirmation is needed before arguing AUD/USD may extend declines. AUD/NZD consolidation held while AUD/CAD attempts a breakout.
Oil Forecast – Bullish Backdrop Remains Despite Weekly Drop
Crude remains above the technically significant $ 50/bbl while traders are watching a bullish chart pattern and a potential larger supply disruption in Venezuela than previously feared that could support price.
British Pound Forecast –GBP Down But Not Out
Sterling-pairs have had a mixed week with GBPUSD breaking through support before starting to reclaim some of its weekly losses.
US Dollar Forecast –Dollar Matches Longest Climb Since November 2016, Is it a Trend?
A seven-day rally for the Dollar was an impressive stretch through this past week, but it hasn’t put the currency in a position to trigger breakouts or establish trends. What levels and pairs should we watch in the week ahead?
Gold Forecast – XAU Breakout Stalls at Resistance
Gold is carving a monthly opening-range just below Fib resistance and keeps the price breakout vulnerable. Here are the levels that matter on the XAU/USD weekly chart
Euro Forecast – Euro to Bounce off Support Next?
The Euro traded lower last week off resistance, next week could bring a thorough test and bounce off support; a break below would be reason to finally gear up for a momentum move.
Equity Forecast –S&P 500, DAX, FTSE MIB
S&P 500 saw limited follow through above 2700, key support at 2675. Heavy selling in the DAX on at the backend of the week. FTSE MIB on course for 19000.