Price of 6E trading within a resistance zone. Using the stochastic on a shorter time frame for entries Bearish Tone Remains Price Action for 6E As expected, the Euro has been trading within the range where we have been aiming to gradually increase our short position. The price range between $0.9768 and $1.0035 is mentioned Read More…
Rising interest rates in the US are boosting lenders’ interest incomes. There is less turmoil in the market after UK’s fiscal policy u-turn. Analysts expect the Fed to continue its aggressive monetary policies. Major equity futures indexes, including the E-mini S&P 500 (ES), began the trading week with a price surge after Britain changed its Read More…
Liz Truss’s new finance minister, Jeremy Hunt, has improved the market mood. Jeremy Hunt promises to focus on growth underpinned by stability. Goldman Sachs lowers its 2023 UK economic growth outlook from a 0.4% decline to a 1% decline. British pound (6B) futures prices rose on Monday after the announcement that Chancellor Jeremy Hunt will Read More…
CL shows a bearish outlook in the short term. Bears are to be wary of the potential formation of a Bull Flag. The 1-2-3 reversal target is on hold for now. Bearish Technical Outlook Though the fundamentals are slightly bullish regarding CL, the technicals are painting a different picture for the time being, especially on Read More…
Investors are expecting a significant rate hike after a higher US inflation reading. Both the Fed and Joe Biden’s administration are fighting to lower inflation. Gold remains less attractive as interest rates rise in the US. Gold (GC) futures prices collapsed after investors digested a higher reading on US inflation that stoked speculation about a Read More…
Despite their various advantages, nearly every technical indicator is faulted for lagging. Price action trading eliminates the overreliance on technical indicators simply by using candlestick and chart patterns to identify optimal entries and exits. The basis for price action trading is pure market movement; in a sense, price action trading is the foundation of all Read More…
