Introduction Euro futures have broken below the support area that held through June and July, extending the decline from August’s highs. This was a very important level for Euro bulls to hold because the next support level is down at 1.11. The chart is oversold no won the daily so a short term bounce or Read More…
Gold prices rebounded on Tuesday after collapsing to an over 7-week low in the previous session. The recovery was a pause in the drop, driven by a surge in Treasury yields and bets on a Fed rate hike. Uncertainty over a deal between the US and Iran sent oil prices higher last week, increasing inflation Read More…
Introduction Gold has given back most of its August recovery and is approaching the support area that held through June and July. Price is trading around $4,170 on the September 29 daily chart, below both moving averages, with sellers now in control again. The gold bulls are scrambling because there looked like a strong chance Read More…
Equities dropped at the start of the new week as Treasury yields extended last week’s gains. Uncertainty surrounding the war in Iran heightened inflation concerns. Consequently, there was a sharp increase in bets for an October Fed rate hike that boosted yields. Meanwhile, growth stocks, especially in the tech sector, dropped. 10-year yield (Source: Bloomberg) Read More…
Currency futures edged lower on Monday as the dollar resumed its rally after Trump rejected Iran’s proposal. Talks at the UN only revealed heated tensions between the US and Iran, sending oil prices higher. With this, inflation concerns increased, and Fed rate hike expectations jumped, boosting the greenback. Meanwhile, other major currencies like the euro Read More…
Introduction The US dollar has bounced strongly from its September lows, moving back above both the 50 and the 200 moving average and trading near 101.05 on the daily chart. The recovery puts the June–July highs back in reach, but buyers still have to clear an important resistance zone before we can call this a Read More…
