The drop The Dollar has fallen much of the year, with the greenback being down over 12% from the October 2022 high. The first low ($100.8) for the support zone was made in February, and price hasn’t broken below that level since. Technical analysis First of all, the support zone is holding the Dollar up Read More…
US equities closed slightly higher on Monday as the S&P 500 and Dow had modest gains. However, the New York Federal Reserve’s “Empire State” index, which measures manufacturing activity, fell sharply to -31.8 in May, much lower than the anticipated -3.75. This raised concerns about a possible slowdown in the US economy, which could decrease Read More…
Overview ES has been stuck in a tight consolidation since the beginning of April. There was a steep move up just before the consolidation phase started, which leads me to believe we could be preparing for a bullish breakout. The range is between $4,062.75 and $4,210.75. The rally prior resembles a poll, so what we Read More…
Currency futures fell on Friday as the US dollar rose. The dollar experienced its largest weekly gain since February. This rise occurred as investors sought safe havens due to concerns about the US debt ceiling and monetary policy. According to the University of Michigan survey released on Friday, US consumer sentiment reached a six-month low Read More…
Recap Two weeks ago, we looked at the candlestick that formed on the daily chart in GC, which eventually closed as a spinning top at the top of an up trend. It signals to us that there is much confusion in the market when a candlestick like this forms, and this gave us a short Read More…
Gold prices fell on Thursday as investors preferred the dollar as a haven amid downbeat US economic data. Even though gold is considered a hedge against inflation and uncertainty, high-interest rates diminish the appeal of the non-yielding asset. Last week, there was a notable spike in the number of unemployed Americans filing new claims for Read More…
