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USD/CAD Fundamental Analysis, April 20, 2015 – Forecast

April 18, 2015
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USD/CAD Fundamental Analysis, April 20, 2015 – Forecast

Analysis and Recommendations: The USD/CAD dipped 11 points to trade at 1.2179 as the CAD gained steadily this week with the US dollar falling on lackluster data. The BoC helped support the currency along with the strong rise in oil prices and the rebound of gold.  The dollar skidded to a 10-day low against a basket of major currencies on Friday, after a run of weak U.S. economic data that has cast doubt on prospects for a Federal Reserve interest rate rise in the coming months. The greenback had rallied by as much as 30 percent since May last year, hitting 12-year highs in March and getting close to them again last week as investors bet that the Fed...

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Gold Firm as U.S. Economy, Dollar Weaken

April 18, 2015
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Gold Firm as U.S. Economy, Dollar Weaken

June Comex Gold rallied on Friday on the heels of the weaker U.S. Dollar. The Greenback was under pressure because of concerns over the timing of the Fed interest rate hike. Soft U.S. economic data is raising concerns that the Fed will abandon a June rate hike, shifting the timetable to perhaps September or October. Despite concerns about Greece, the EUR/USD continued to rally on Friday. Most of the move has been attributed to short-covering. The lingering possibility of...

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AUD/USD Forex Technical Analysis – April 20, 2015 Forecast

April 18, 2015
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AUD/USD Forex Technical Analysis – April 20, 2015 Forecast

The AUD/USD surged on Friday to a three-week high in reaction to strong Australian jobs data and a weakening U.S. economy. Speculators also cut bets on a Reserve Bank of Australia interest rate cut early next month. The Aussie got support from the stronger-than-expected jobs report on Thursday, which showed that the total number of new jobs rose by almost 38,000 in March, more than double the pre-report estimate. The unemployment rate fell to 6.3% versus a pre-report guess...

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Bullish Inventories Propel Technical Breakout

April 16, 2015
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Bullish Inventories Propel Technical Breakout

Crude oil prices continued to push higher mid-day on Wednesday following bullish inventory data released at 10:30 AM ET by the US Department of Energy.  This comes as prices pushed above resistance levels earlier in the trading session. According to the Energy Information Administration, U.S. commercial crude oil inventories...

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Draghi Comments Drive Down Euro

April 16, 2015
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Draghi Comments Drive Down Euro

The EUR/USD traded weaker on Wednesday after the European Central Bank announced interest rates would remain at historically low levels. ECB President Mario Draghi helped drive the Forex pair lower after he signaled the central bank will stay the course with its stimulus program. Draghi also added that quantitative...

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Technical Overview – Important JPY Pairs

April 16, 2015
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Uncertainty over the timing of the Fed’s first interest rate hike since 2006 and the Greek existence into the Euro-zone continued fueling the Japanese Yen (JPY) in recent days. Moreover, comments from the minutes of recent BoJ meeting, released on Monday, coupled with the hawkish statements from Koichi Hamada,...

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Stocks Continue to Rebound Led by Nasdaq

April 14, 2015
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Stocks Continue to Rebound Led by Nasdaq

U.S. equities extended their rebound led by NASDAQ, which popped 0.5% into the green and reversed overnight losses. As reported earlier, the investor activism on Qualcomm has had some traction, as has the surge in pre-orders for Apple’s watch. Netflix also rallied 4.6% on talk of a stock split....

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AUD/USD Forex Technical Analysis – April 14, 2015 Forecast

April 14, 2015
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AUD/USD Forex Technical Analysis – April 14, 2015 Forecast

The AUD/USD tumbled on Monday following the release of weak Chinese economic data. The sell-off put the Forex pair in a position to test the low of the year. The major issue driving the market lower was Chinese exports. The data showed that exports unexpectedly fell 14.6 percent from...

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E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – April 14, 2015 Forecast

April 14, 2015
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E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – April 14, 2015 Forecast

June E-mini NASDAQ-100 Index traders are preparing for a volatile trading session on Tuesday with the release of major bank earnings and March’s retail sales report. As far as the timeline is concerned, JP Morgan Co. (JPM) reports at 7 a.m. ET, Wells Fargo (WFC) at 8 a.m. ET...

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AUD/USD Weekly Fundamental Analysis, April 13-17, 2015 – Forecast

April 12, 2015
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AUD/USD Weekly Fundamental Analysis, April 13-17, 2015 – Forecast

Weekly Analysis and Recommendation: The AUD/USD dipped 10 points as the greenback soared to just under the 100 level. The RBA surprised markets this week and held policy and stimulus. China’s price pressures held steady at the consumer end but continued the deflation trend for wholesalers overall without weakening...

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USD/JPY Weekly Fundamental Analysis, April 13-17, 2015 – Forecast

April 12, 2015
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USD/JPY Weekly Fundamental Analysis, April 13-17, 2015 – Forecast

Weekly Analysis and Recommendation: The USD/JPY closed out the week at just at the 120 level remaining in its current trading range. The Japanese yen (JPY) closed the first quarter flat to where it began, reflecting offsetting forces that are constraining movement in the JPY. Fundamentals are soft, and...

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EUR/JPY Weekly Fundamental Analysis, April 13-17, 2015 – Forecast

April 12, 2015
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EUR/JPY Weekly Fundamental Analysis, April 13-17, 2015 – Forecast

Weekly Analysis and Recommendations: The EUR/JPY took a big fall on Friday to close the week at 127.48 as the euro fell steadily at the end of the week.  The euro sank to $1.0657, the first time below $1.07 since March 20, having broken through a key support level...

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E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – April 9, 2015 Forecast

April 10, 2015
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E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – April 9, 2015 Forecast

June E-mini NASDAQ-100 Index futures are called slightly lower based on the pre-market trade. The index appears to be having trouble with the retracement zone which stalled the rally the last two sessions. Trader reaction to this zone should set the tone for the session and perhaps over the...

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E-mini Dow Jones Industrial Average (YM) Futures Analysis – April 9, 2015 Forecast

April 10, 2015
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E-mini Dow Jones Industrial Average (YM) Futures Analysis – April 9, 2015 Forecast

June E-mini Dow Jones Industrial Average futures are called flat-to-lower based on the pre-market trade. Traders seem to be confused again about the timing of the Fed interest rate hike. The Fed minutes, released on Wednesday, appear to have added to the confusion. The start of earnings season may...

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Possible Fed Rate Hike in June Pressures EUR/USD

April 10, 2015
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Possible Fed Rate Hike in June Pressures EUR/USD

The EUR/USD was down for a third straight day as traders continued to react to minutes from the Fed’s monetary policy meeting in March along with commentary from several of its officials. The minutes indicated a rate hike in June remained on the table despite weakening economic data.  The...

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E-mini S&P 500 Index (ES) Futures Technical Analysis – April 7, 2015 Forecast

April 8, 2015
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E-mini S&P 500 Index (ES) Futures Technical Analysis – April 7, 2015 Forecast

June E-mini SP 500 Index futures are trading flat shortly before the cash market opening. It also indicates trader indecision and impending volatility. Daily June E-mini SP 500 Index The short-term range is 2107.00 to 2033.25. Its retracement zone is 2070.25 to 2079.00. The market is currently trading inside...

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US Futures Point to Higher Open as Fed on Hold Until September

April 8, 2015
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US Futures Point to Higher Open as Fed on Hold Until September

The SP 500 SPDR continues to show resilience on Tuesday following a robust rally after initially falling to the top of its support zone last week. This surge is most interesting because stock futures were down Friday and remained down until the open on Monday. Europe caught up to...

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Euro Hit By Profit-taking; Fresh Shorting

April 8, 2015
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Euro Hit By Profit-taking; Fresh Shorting

The EUR/USD sold off sharply on Tuesday after European traders returned from Easter vacation with selling on their minds. Worries about issues with Greece seemed to outweigh the weaker-than-expected U.S. Non-Farm Payrolls report which could delay a rate hike by the Fed. In other news, Spanish Services PMI came...

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AUD/USD Forex Technical Analysis – April 6, 2015 Forecast

April 5, 2015
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AUD/USD Forex Technical Analysis – April 6, 2015 Forecast

The AUD/USD surged following the release of a weaker-than-expected U.S. Non-Farm Payrolls report for March, but sold-off into the close. However, it still managed to close higher for the week. The selling pressure late in the day was probably positon-squaring ahead of Tuesday’s Reserve Bank of Australia monetary policy...

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Comex Gold Futures (GC) Technical Analysis – April 6, 2015 Forecast

April 5, 2015
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Comex Gold Futures (GC) Technical Analysis – April 6, 2015 Forecast

June Comex Gold futures are expected to open higher on Monday. On Friday, the market was closed because of Good Friday so there should be a lot of pent up volatility especially since traders will be working with bullish news. Friday’s release of an abysmal U.S. Non-Farm Payrolls report...

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