Better Trader

Gold Forecast

 

Gold	Today	Next few days	Next few weeks
Trend	Up	Up	Down
Action	Buy	Buy	Sell
Trend reversal	50%	50%	25%
	Key Reversal Levels
Gold spot	below 1258	below 1258	above 1303.5
Gold Future	below 1258	below 1258	above 1303.5
	Trade setups

The trend is likely to reverse when the trend reversal is 75%. A breach of a key reversal level implies a neutral position.

Research provided by e-Yield

FTSE 100 Forecast

 

Once again the FTSE failed to break above 6882, yesterday's high was 6873 and a pull back is now underway. The situation in Iraq prompted investors to take money off the table, I am not sure this is the reason why the market is going down. The FTSE is going down because the pattern is a fourth wave and the S&P has gone up too far too fast. At some point markets will correct and this is where we are now.

One thing is clear, the FTSE will struggle to move higher in the next few months, the UK index is weak relative to the S&P and the FTSE 250 is now lagging the FTSE 100.

FTSE 100	Today	Next few days	Next few weeks
Trend	Down	Down	Down
Action	Sell	Sell	Sell
Trend reversal	50%	50%	50%
	Key Reversal Levels
FTSE 100 cash	above 6875	above 6879	above 6950
FTSE 100 Future	above 6875	above 6879	above 6950
	Trade Setups

The trend is likely to reverse when the trend reversal is 75%. A breach of a key reversal level implies a neutral position.

Research provided by e-Yield

S&P 500 Forecast

 

S&P 500	Today	Next few days	Next few weeks
Trend	Down	Down	Down
Action	Sell	Sell	Sell
Trend reversal	50%	50%	75%
	Key Reversal Levels
S&P 500 cash	above 1956	above 1968	above 1968
S&P 500 Future	above 1955	above 1967	above 1967
	Trade Setups

The trend is likely to reverse when the trend reversal is 75%. A breach of a key reversal level implies a neutral position.

Research provided by e-Yield

S&P 500 Forecast

 

S&P 500	Today	Next few days	Next few weeks
Trend	Down	Down	Down
Action	Sell	Sell	Sell
Trend reversal	50%	75%	75%
	Key Reversal Levels
S&P 500 cash	above 1956	above 1967	above 1967
S&P 500 Future	above 1955	above 1966	above 1966
	Trade Setups

The trend is likely to reverse when the trend reversal is 75%. A breach of a key reversal level implies a neutral position.

Research provided by e-Yield

Gold Forecast

 

Gold	Today	Next few days	Next few weeks
Trend	Up	Up	Down
Action	Buy	Buy	Sell
Trend reversal	50%	50%	25%
	Key Reversal Levels
Gold spot	below 1250	below 1245	above 1303.5
Gold Future	below 1250	below 1245	above 1303.5
	Trade setups

The trend is likely to reverse when the trend reversal is 75%. A breach of a key reversal level implies a neutral position.

Research provided by e-Yield

S&P 500 Forecast

 

S&P 500	Today	Next few days	Next few weeks
Trend	Up	Down	Down
Action	Buy	Sell	Sell
Trend reversal	50%	75%	75%
	Key Reversal Levels
S&P 500 cash	below 1940	above 1966	above 1966
S&P 500 Future	below 1939	above 1965	above 1965
	Trade Setups

The trend is likely to reverse when the trend reversal is 75%. A breach of a key reversal level implies a neutral position.

Research provided by e-Yield

Gold Forecast

 

Gold	Today	Next few days	Next few weeks
Trend	Up	Up	Down
Action	Buy	Buy	Sell
Trend reversal	50%	50%	25%
	Key Reversal Levels
Gold spot	below 1246.5	below 1245	above 1303.5
Gold Future	below 1246.5	below 1245	above 1303.5
	Trade setups

The trend is likely to reverse when the trend reversal is 75%. A breach of a key reversal level implies a neutral position.

Research provided by e-Yield

Gold Forecast

 

Gold	Today	Next few days	Next few weeks
Trend	Up	Up	Down
Action	Buy	Buy	Sell
Trend reversal	50%	50%	25%
	Key Reversal Levels
Gold spot	below 1250	below 1240	above 1303.5
Gold Future	below 1250	below 1240	above 1303.5
	Trade setups

The trend is likely to reverse when the trend reversal is 75%. A breach of a key reversal level implies a neutral position.

Research provided by e-Yield

EUR/USD Forecast

 

EUR/USD	Today	Next few days	Next few weeks
Trend	Up	Up	Down
Action	Buy	Buy	Sell
Trend reversal	50%	25%	50%
	Key Reversal Levels
EUR/USD spot	below 1.3551	below 1.3500	above 1.4000
EUR/USD Future	below 1.3546	below 1.3495	above 1.4004
	Trade setups

The trend is likely to reverse when the trend reversal is 75%. A breach of a key reversal level implies a neutral position.

Research provided by e-Yield

FTSE 100 Forecast

 

The ECB delivered what many had expected, new measures to encourage bank lending. The idea is to help businesses and individuals buy stuff with borrowed money, this creates demand for goods and services and boost inflation. This is one way to fight deflation, but the question is will it work? Those measures are fine providing the borrower is happy to buy. What about if the borrower is not happy to buy?

When people are concerned about the future they tend to cut spending and to start saving more, the banks can provide all the money they have this will not change anything, people won't touch it. This is why the economy is still weak after many years of stimulus measures. The problem in Europe is that people are not optimistic about  the future, this is the major obstacle to consumption.

Today we have another important announcement, the nonfarm payrolls at 1.30pm. Like yesterday expect some volatility, stop losses will be at risk so if you are a day trader you should not trade ahead of the announcement.

FTSE 100	Today	Next few days	Next few weeks
Trend	Up	Down	Down
Action	Buy	Sell	Sell
Trend reversal	50%	50%	50%
	Key Reversal Levels
FTSE 100 cash	below 6795	above 6882	above 6945
FTSE 100 Future	below 6789	above 6876	above 6939
	Trade Setups

The trend is likely to reverse when the trend reversal is 75%. A breach of a key reversal level implies a neutral position.

Research provided by e-Yield