Gold continued sliding on Tuesday as demand fell amid a rally in Treasury yields. The precious metal started falling after the Fed held a surprisingly hawkish stance last week. Afterwards, rate hike expectations soared, increasing the opportunity cost of holding gold. It also overshadowed optimism from easing geopolitical tensions in the Middle East. Bullion has Read More…
Introduction Gold futures continue to follow the bearish roadmap we have outlined throughout June. In our June 10 and June 17 analyses, we looked at how the breakdown below the 4,400–4,450 support zone shifted control firmly toward sellers and exposed the March swing low near 4,165. While buyers initially managed to hold this support, the Read More…
Equities eased slightly on Monday, dragged down by the tech sector, as yields remained elevated after last week’s FOMC meeting. The tech decline overshadowed optimism as the US and Iran made great progress in their talks in Switzerland. Market participants are also looking forward to the US PCE price index report, which will give more Read More…
Introduction It’s time for another Funded Trader Spotlight, and this week we’re featuring a trader from Russia who has achieved something incredible! Ruslan recently withdrew $23,000 from his funded account in just three trading days, bringing his total withdrawals to a very impressive $88,526. What makes this even more remarkable is the strategy he used Read More…
Introduction Since our June 16 analysis, crude oil has done exactly what we suggested was the most likely outcome. Rather than immediately breaking lower toward $70, buyers stepped in at the $74-$76 support zone and managed to stabilize price. This support area was the last major level we highlighted before the 200-day moving average near Read More…
Currency futures fell last week as the dollar rallied after a hawkish Fed meeting raised expectations of a sharp increase in the Fed rate. Meanwhile, the peace deal between the US and Iran helped ease inflation concerns as oil prices fell during the week. However, over the weekend, Iran announced the closure of the Strait Read More…
Introduction The U.S. Dollar Index continues to grind higher after spending most of the first half of the year trapped inside a broad consolidation range. While the move is not explosive, it is one of the stronger bullish stretches we have seen from DXY in several months. U.S. equities rebounded sharply on Thursday, with the Read More…
Interest futures rallied on Thursday as market participants eagerly awaited the signing ceremony of the US-Iran peace deal. Optimism over an end to the Iran war and a reopening of the Strait of Hormuz have supported bonds in recent days. However, a hawkish Fed meeting on Wednesday capped gains. Interest futures, like most other asset Read More…
Introduction Euro FX futures are approaching an important zone on the daily chart after several weeks of steady selling pressure. Since peaking in April, 6E has consistently produced lower highs and lower lows, keeping sellers firmly in control of the short-term trend. What makes the current setup interesting is that price has now returned to Read More…
Oil extended declines on Thursday as traders anticipated a surge in supply after the US and Iran announced a peace deal. The deal, when signed, will reopen the Strait of Hormuz, easing supply disruptions. Meanwhile, market participants assessed the FOMC policy meeting, during which officials voted to keep interest rates unchanged. The news of a Read More…
