Forex Forecasts:

Forex Forecasts:

The Euro rallied significantly during the trading session on Wednesday, breaking towards the 50 day EMA. However, we have pulled back just a little bit,…

Forex Forecasts: Oil Price Fundamental Daily Forecast – Rally Could Extend if EIA Reports Large Drawdown

Forex Forecasts: Oil Price Fundamental Daily Forecast – Rally Could Extend if EIA Reports Large Drawdown

The current sideways action and the bouncing between technical 50% levels suggests prices are nearly balanced at this time, which means it may take some fresh stimulus to move prices out of the range. Supply news is likely to be the price driver today. At 14:30 GMT, the EIA will release its weekly inventories report. It is expected to show a draw of 1.9 million barrels. Traders could extend today’s early rally if the decline comes in bigger-than-expected.