Euro Downtrend Intact, Monthly Chart Hints at Steep Drop Ahead...

TECHNICAL FORECAST FOR THE EURO: BEARISH Monthly chart setup warns Euro vulnerable to prolonged decline Near-term downtrend intact through bounce from November lows Short EUR/USD position in play, looking for bearish resumption See our free guide to get help gain confidence in your Euro trading strategy! October ended with the Euro seemingly set to suffer deeper losses against the US Dollar. A look at the monthly chart reveals prices breached range top resistance-turned-support centered around the 1.15 figure – a pivotal inflection point since May 2015 – to suggest that a move toward a four-year range floor near 1.05 may well be in the cards in the months ahead. The bearish bias remains upon examination of more actionable positioning on the daily chart, but the setup is far less immediately actionable than it might seem at first glance. Prices are resting resistance guiding the downswing from the downswing started in late September. It is thus far unclear whether this barrier will hold and bearish is resumption is toArticle source:...

Gold Weekly Technical Outlook: Gold Prices Jump as Dollar Breaks...

Gold Technical Outlook Weekly technicals on Gold (XAU/USD) – price recovery from confluence support in focus Check out our 3Q projections in our Free DailyFX Gold Trading Forecasts Join Michael for Live Weekly Strategy Webinars on Mondays at 12:30GMT Gold prices snapped a two week losing streak with the precious metal rallying more than 1% to trade at 1221 ahead of the New York close on Friday. While this week’s reversal comes amid broad based weakness in the US Dollar and while it does bode well for the bulls, price continues to hold below a critical resistance barrier and the focus is on a breach higher to mark resumption. Here are the updated targets and invalidation levels that matter on the XAU/USD weekly chart. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more. Gold Weekly Price Chart Technical Outlook: In our last Gold Weekly Technical Outlook, we stated that, “Put simply, IF gold prices are going to rebound, next week would be the time- and the support zone we’re trading into would be theArticle source:...

Weekly Technical Forecast: Will Liquidity Define the Equities, EURUSD and Oil Reversals?...

Check out our Economic Calendar for upcoming economic data and central bank events. Oil Forecast – US Oil Has Three Days of Stability Against Six Weeks and 30% Of Tumble Calling a true recovery for crude oil owing to a three day steadying is extremely risky against the backdrop of a near 30 percent collapse for the commodity. British Pound Forecast – Sterling Seeks Further Brexit News The Pound faced a tumultuous trading week with a breakdown in Brexit optimism as members of Parliament voiced outrage over a proposed Brexit deal text. US Dollar Forecast – Dollar Leans Towards Important Bearish Breaks, Will Liquidity Save It? The Dollar hit a 16-month high last week, but it will begin the upcoming period distorted by low liquidity in retreat and eyeing medium-term support. Equity Forecast – Technical Forecast for Dow, SP 500, FTSE 100, DAX and Nikkei The November recovery was further peeled back this week as sellers remained in global equities. Euro Forecast – Euro Downtrend Intact, Monthly Chart Hints at Steep Drop Ahead The Euro has mounted a spirited recovery fromArticle source:...

US Oil Has Three Days of Stability Against Six Weeks and 30% Of Tumble...

Talking Points: The US-preferred WTI crude oil contract broke its record-breaking 12-day tumble on Wednesday Though the daily bleed has stopped and bears are stretched, it is still an ongoing 6-week and 30% drop See how retail traders are positioned in US oil, UK oil, stocks and other assets on the sentiment page Technical Forecast for US Dollar: Bullish US crude oil finally staunched the bleeding this past week. We entered the period extending an extraordinarily consistent string of daily losses for the commodity. That bearish run was finally capped at 12 consecutive days – a record that will likely stand for years, if not decades – with Wednesday’s bullish close. Yet, this change in tack really doesn’t register as the onrush of speculative appetite looking to take advantage of a severely devalued asset as one would expect. Tuesday’s loss could be described as the forming of a ‘panic low’. The extreme 6 percent loss on the day was the most painful the market had suffered since February of 2016. Such a move could significantly exercise much of the weakened bullish hands and encourage shorts to book profit – asArticle source:...

US Oil Has Three Days of Stability Against Six Weeks and 30% Of Tumble...

Talking Points: The US-preferred WTI crude oil contract broke its record-breaking 12-day tumble on Wednesday Though the daily bleed has stopped and bears are stretched, it is still an ongoing 6-week and 30% drop See how retail traders are positioned in US oil, UK oil, stocks and other assets on the sentiment page Technical Forecast for US Dollar: Bullish US crude oil finally staunched the bleeding this past week. We entered the period extending an extraordinarily consistent string of daily losses for the commodity. That bearish run was finally capped at 12 consecutive days – a record that will likely stand for years, if not decades – with Wednesday’s bullish close. Yet, this change in tack really doesn’t register as the onrush of speculative appetite looking to take advantage of a severely devalued asset as one would expect. Tuesday’s loss could be described as the forming of a ‘panic low’. The extreme 6 percent loss on the day was the most painful the market had suffered since February of 2016. Such a move could significantly exercise much of the weakened bullish hands and encourage shorts to book profit – asArticle source:...

US Oil Has Three Days of Stability Against Six Weeks and 30% Of Tumble...

Talking Points: The US-preferred WTI crude oil contract broke its record-breaking 12-day tumble on Wednesday Though the daily bleed has stopped and bears are stretched, it is still an ongoing 6-week and 30% drop See how retail traders are positioned in US oil, UK oil, stocks and other assets on the sentiment page Technical Forecast for US Dollar: Bullish US crude oil finally staunched the bleeding this past week. We entered the period extending an extraordinarily consistent string of daily losses for the commodity. That bearish run was finally capped at 12 consecutive days – a record that will likely stand for years, if not decades – with Wednesday’s bullish close. Yet, this change in tack really doesn’t register as the onrush of speculative appetite looking to take advantage of a severely devalued asset as one would expect. Tuesday’s loss could be described as the forming of a ‘panic low’. The extreme 6 percent loss on the day was the most painful the market had suffered since February of 2016. Such a move could significantly exercise much of the weakened bullish hands and encourage shorts to book profit – asArticle source:...