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…
Introduction Our June 10 analysis focused heavily on the importance of the $4,160 support level after Gold broke below the ascending trendline and former support zone near $4,400. The good thing for the bulls is that price was able to hold the support level at $4,165.2. We could see a new test of this level Read More…
Gold remained elevated on Tuesday as the opportunity cost of holding the precious metal fell after news of a US-Iran peace deal. After the announcement over the weekend, traders slashed bets for a December Fed rate hike. At the same time, market participants are awaiting the FOMC policy meeting to assess policymakers’ remarks. The rally Read More…
Introduction An unfortunate movement in price for the CL bulls since our last analysis, now trading below the 50-day MA. It was important that bulls held the MA because now that the price has dropped below it, the last support zone is at $75, before the 200 MA at $66.25. If this happened, it would earse 40% Read More…
Equities rallied on Monday as traders applauded the news of a peace deal between the US and Iran. Meanwhile, oil prices collapsed, easing inflation worries. However, some analysts have warned that it could take time before supply returns to normal. Elsewhere, market participants are eagerly awaiting the FOMC policy meeting for clues on future Fed Read More…
