There was an unmistakable extension of the maligned risk appetite trend through this past week. The US-China trade war headlines will likely carry the speculative focus moving forward; but European and Japanese GDP figures, US auto tariffs decision, Fed speak and RBNZ decision should all be monitored for volatility.
Dow Jones and FTSE 100 Technical Forecast for the Week Ahead[1]
Dow Jones[2] rises to fresh record high, however, bullish momentum is easing, while FTSE 100[3] upside stalls.
Australian Dollar Technical Forecast: Bearish AUD/USD, AUD/JPY[4]
Heading into next week AUD[5] is set up to come under pressure as charts favor a potential resumption of the longer-term downtrends.
Oil Forecast: Crude Oil Charts Approach Key Resistance Levels[6]
Crude oil[7] has notched an impressive rebound off its October swing low near the 51.00 mark to now trade above 57.00, but the commodity’s path of least resistance points to potential for lower prices.
Euro Price Outlook: EUR/USD Plummets into Technical Trend Support[8]
Euro[9] fell more than 1.2% against the US Dollar[10] this week with price now eyeing key support just below 1.10. Here are the levels that matter on the EUR/USD[11] weekly chart.
Gold Price Forecast: XAU/USD Breakout After Worst Week Since 2016?[12]
Gold prices[13] faced the worst week since 2016, but a rising support channel could keep the XAU/USD[14] dominant uptrend intact. Rising net-long bets favor the downside scenario however.
GBP Technical Price Forecast: GBP/USD, GBP/JPY, EUR/GBP[15]
Mr. Mark Carney has now presided over his final Super Thursday atop the Bank of England, and a familiar bearish response showed in GBP[16].
