Introduction Crude Oil futures have declined into a year-long support zone, which we will analyze below. There are a few fundamentals that have led to this drop, including OPEC news and weak economic data from China. For now, we will focus on the technical analysis to see if we can find any clues on the Read More…
Technical Analysis Moving Averages: Recent Price Action: The price has recently faced resistance near the 50-day moving average as bulls tried to push prices higher and has pulled back slightly. This rejection from the 50-day moving average shows selling pressure at these levels. Market Sentiment: The overall trend before the recent pullback in July was Read More…
Gold fell on Tuesday after dropping on Friday due to a rally in the US dollar and Treasury yields. The rally came after the PCE inflation report, which lowered the likelihood of a 50-bps September Fed rate cut. Meanwhile, markets were closed on Monday due to a US holiday. Investors are slowly shifting their focus Read More…
Currency futures fell on Friday after US data solidified bets for a smaller 25 bps September Fed rate cut, boosting the US dollar. Data throughout last week showed that the US economy remains resilient, dismissing fears of a recession. Fed rate cut bets (Source: Bloomberg) The dollar had a bullish day on Friday after the Read More…
Interest futures recovered slightly after falling on Thursday as US data showed a resilient economy, further reducing the risk of a recession. At the same time, the likelihood of a 50 basis points Fed rate cut in September fell. A stable economy means the US central bank can gradually lower borrowing costs. US GDP (Source: Read More…
The chart provided displays the U.S. Dollar Index (DXY) on a weekly timeframe. Let’s analyze the technical indicators and identify potential bearish/short high-probability trade opportunities. Technical Analysis Descending Triangle Pattern: There is a symmetrical triangle formation. The price recently broke below the lower trendline of this triangle, signaling a potential continuation of the downtrend since Read More…
