AUDUSD Forecast May 10, 2017, Technical Analysis
The AUDUSD pair fell during the day on Tuesday, as the 0.74 level continues to offer resistance.
Curve Ahead Market Strategies
Crude Oil Remains Downbeat
Market participants in crude oil are continuing to shrug off persistent jawboning from oil ministers of some OPEC countries, most notably Saudi Arabia, about extending the production cuts into the second half of 2017, and possibly the first quarter of 2018.
Euro, Stocks Down On Profit-Taking Post French Elections
A classic reaction in the markets to the outcome of the French elections. It was widely expected that pro-euro centrist Emmanuel Macron was going to become the new President of France and that he would beat the euro-sceptic Marine Le Pen by a wide margin. And so it proved.
USDCAD Forecast May 5, 2017, Technical Analysis
The US dollar continues to grind sideways against the Canadian dollar as we have seen over the last couple of days. I believe that the market breaking down in WTI Crude suggests that the market will eventually go higher.
AUDUSD Forecast May 5, 2017, Technical Analysis
The Australian dollar fell a bit during the day on Thursday, as we continue to see weakness in the commodity markets. Gold markets fell apart, and that of course is a very negative when it comes to the Australian dollar.
EURUSD Forecast May 5, 2017, Technical Analysis
The EURUSD pair rally during the day on Thursday, slamming into the 1.0950 level. That is the top of the recent consolidation area though, and with the job number coming out during the day as well, I believe that it makes sense that the market will probably struggle to make any real headway now.
AUDUSD Forecast May 2, 2017, Technical Analysis
The Australian dollar rallied on Monday, breaking well above the 0.75 level during the day, and crashed into the 0.7540 level. This is an area that could feature some resistance based upon a cluster from April 25, so I’m not excited about buying in this general vicinity.
What’s happening in Turkey?
Turkey (TUR, quote) is changing dramatically and at the center of this transformation is its president, Recep Tayyip Erdogan.
GBPUSD Forecast May 2, 2017, Technical Analysis
The British pound continues to march higher during the Monday session, and as you can see I have a trendline on the hourly chart showing that we have seen buying pressure again and again.
EURUSD Forecast May 1, 2017, Technical Analysis
The EURUSD pair rallied initially on Friday, breaking above the 1.09 handle.