|Day's range||1,504.70 - 1,524.60|
On Friday, October WTI crude oil settled between a pair of 50% levels at $53.95 and $55.72. Since the trend is down, we’ll look at it from the short-side perspective. Based on the close at $54.81, the direction of the market on Monday is likely to be determined by trader reaction to the main 50% level at $55.72.
Based on last week’s price action and the close at .6425, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the pivot at .6483.
The main trend is up according to the daily swing chart. A trade through 98.700 will signal a resumption of the uptrend. A move through 96.980 will change the main trend to down.
The S&P; 500 has been very noisy during the week, breaking down towards the 50 week EMA before bouncing. It this does show a bit of conflict, which after the last couple of weeks might be a good thing.
The Australian dollar has chop around during the week, showing signs of exhaustion, as the Australian dollar of course continues to suffer at the hands of the US/China trade war which seems to only be getting worse.
Silver markets fell rather hard during the trading session on Friday to close out the week but have turned right back around to show signs of support. At this point, the market looks very likely to continue the uptrend but a pullback is possible.
The crude oil markets fell significantly during the trading session on Friday to close out the week and show signs of weakness yet again. At this point I believe that the market is more than likely going to continue to the downside, so I am shorting.
The Euro broke down significantly during the trading session on Friday, slicing through the 1.11 EUR level. This of course is a very negative turn of events as we start racing towards the 1.10 EUR level.
XAU/USD is ready to close positive for the third week in a row. Gold is posting 1.02% gains on the last five days, but the movements are more on a sideways mode above the 1,500 area and contained by the 1,530.
What bullish traders are really hoping for is a rise in U.S. Treasury yields and renewed strength in U.S. equity markets. This would send an even stronger signal that talk of a U.S. recession is a little premature.
Investing.com - Gold prices were little changed on Friday in Asia as stock markets recovered, although trade concerns remained.
Based on Thursday’s price action and the current price at 1.1106, the direction of the EUR/USD into the close is likely to be determined by trader reaction to the short-term Fibonacci level at 1.1112.
Shortly before the close, yields are falling, risky assets are trading in two directions and the dollar is firm. This is helping to underpin gold, but at the same time hold it inside Tuesday’s wide range.
After marking the day’s opening near 105.89 level, the Ninja showcased a pretty decent performance on Thursday. Greenback continued to sustain positive price actions even today.
Based on the early price action, and the current price at 2850.25, the direction of the September E-mini S&P; 500 Index into the close is likely to be determined by trader reaction to the long-term Fibonacci level at 2845.75.
Stock markets were all over the place during the trading session on Thursday, as they are trying to come to grips with the massive bloodshed that we had seen on Wednesday.
The Silver markets went back and forth during the trading session on Thursday as we continue to see a lot of uncertainty around the world. Quite frankly, the market is now starting to try to get used to the idea of being above $17.
The crude oil markets went back and forth during the trading session on Thursday with a slightly negative bias. We have recovered some of the original losses though, so it looks like there is more confusion on the way.
The natural gas market rallied rather significantly during the trading session on Thursday, breaking above the $2.20 level. This is a pretty strong sign, but we are still very much in a downtrend and you should keep that in mind when trading natural gas.