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Back from the Holidays: Monday's Market Forecast

Posted by TopstepTrader on November 27, 2017

Hope that everyone is well rested from the U.S. holiday that caused futures markets to close early on Friday. When the dust did settle on the U.S. Thanksgiving week, the Emini S&P 500 ($ESZ7) set a new contract closing high. This morning, prices are again firm - perhaps on expectations that the U.S. Congress will pass tax reform this week. 

After last week's Federal Reserve Minutes, the U.S. Dollar is under pressure again. The Euro ($6EZ7) has added 24 pips and looks set to test prices at 1.20 - currently trading 1.1965. The Dollar is also lower against the Yen ($6JZ7), British Pound ($6BZ7) and Canadian Dollar ($6CZ7). 

After rising last week on concerns over Canadian production, Crude Oil ($CLF8) is down 1 percent this morning, trading at $58.42. 

For discussion of these and other trading levels, check out what Senior Performance Coach John Hoagland has to say. 

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Topics: Market Updates