Bulls Are Ready The bulls are ready to pounce as NQ trades within the support zone at $14,800. This is the most significant zone on the chart at the moment, and a bounce from here could mark the opportunity to go long. In this week’s analysis of NQ, we are going to keep it short Read More…
Currency futures fell against the dollar on Friday amid signs of the United States’ superior economic position compared to other major economies. US business activity (Source: S&P Global) S&P Global reported a slight decrease in its flash US Composite PMI index for September, dropping from August’s final reading of 50.2 to 50.1. Still, September’s result Read More…
Technical Analysis The last time we looked at the Russell, it was falling toward a support level. This pattern is a converging technical pattern that we could look at taking positions from as it is a large range. You can see in the chart below, the support line we are looking at. What we would Read More…
Oil prices dropped by about 1% to a one-week low on Wednesday following the Fed’s rate decision. The US Federal Reserve held rates unchanged as markets had expected. However, it maintained its hawkish stance with another rate hike projected for the end of this year. Brent futures for November delivery went down 81 cents, or Read More…
Introduction The Dollar has rallied 6% since July. This might not sound like a significant amount, but it is a significant move for a currency paired against a basket of other currencies. The DXY index topped out at 114.7 in September last year, then started falling and dropping to a low of 99.5 in July. Read More…
Equities lost ground on Tuesday as the US Federal Reserve convened its highly-anticipated two-day monetary policy meeting. This meeting caused a shift toward risk-averse sentiment. All three US indices ended lower in a widespread sell-off before the Fed’s impending interest rate announcement on Wednesday. The Fed will also unveil its Summary Economic Projections, including its Read More…
