The British pound (6B) rose more than 0.50% after hitting a 22-month low. The US dollar pauses the uptrend and corrects lower before the weekend. The Bank of England’s rate hike plan may not help the pound prevent further losses. Over the weekend, the British pound (6B) rose half a percentage point as the pound Read More…
Nasdaq gains amid upbeat reports of Meta Platforms. Overall, the index is expected to close the month with about 12% losses. Disappointing earnings reports of Netflix and Alphabet may weigh on the NQ. After a two-day decline, futures on the Nasdaq 100 (NQ) gained up to 2.2%, around 13,340. However, the index pared off gains Read More…
The E-mini S&P 500 futures (ES) ended a four-day losing streak Monday night after a tech-driven rebound. So, are we on the cusp of a market turn? Elon Musk’s deal with Twitter Yesterday’s stock performance was mixed, despite the positive trend. The benchmark was down 1.7% by midday, but buyers hadn’t emerged yet. Ultimately, the Read More…
In technical analysis, double top and bottom are chart patterns that predict market trends. Hence, it is not uncommon to find double tops and bottoms on the charts of financial instruments. Double tops signify the end of a bullish trend, whereas double bottoms indicate a possible bearish trend reversal. Chart patterns such as double tops Read More…
In response to a stronger US dollar, the Canadian $ (6C) fell from 0.7985 to 0.7930. A less aggressive than expected meeting by the ECB prevented higher oil prices from helping the CAD. Hawkish BoC could not help the bulls as the US dollar remains broadly stronger against its rivals. After rising to fresh weekly Read More…
This guide will talk about the Fibonacci Moving Averages with the RSI indicator on the Light Crude Oil Futures. We all know that market phases are cyclical. They increase, peak, drop, and fall to their lowest point. The end of one market cycle signals the start of the next. So, to make better use of Read More…
