Interest futures fell on Thursday as Treasury yields soared with a drop in expectations for a 50 bps Fed rate cut. However, the move reversed before Fed Chair Jerome Powell’s speech on Friday. At the same time, there is still optimism about a 25 bps September Fed rate cut. Treasury yields had a bullish day Read More…
Recent News US Economic Data: The release of the US Consumer Price Index (CPI) data on August 14 showed a slight increase, which led to fading expectations of an imminent rate cut by the Federal Reserve. This resulted in a minor decline in gold prices, as the likelihood of a rate cut, which would weaken Read More…
Trading Strategy Overview Josh, a trader from Connecticut, has received funding in OneUp Trader’s funded trader program by employing a straightforward support and resistance trading approach. His strategy focuses on identifying key levels on the chart and profiting on breakouts and retracements. Many traders use support and resistance levels in their approach, but Josh has Read More…
Oil prices fell sharply on Wednesday after the US government revised the US payrolls data to show a weaker labor market. This revision overshadowed positive sentiment from a decline in crude oil inventories and dovish FOMC policy minutes. Brent Futures (Source: ICE Futures Europe) The US economy added fewer jobs than reported between April last Read More…
Important Points All-Time High (ATH) Resistance: Support and Resistance Levels: Price Action: Trade Opportunities: Bullish Scenario: Bearish Scenario: Risk Management: Final Call: Overall, the chart is showing a bullish bias, with a key decision point around the ATH. Traders should watch for either a breakout or a rejection to determine the next move.
Gold prices pulled back on Wednesday after reaching new highs in the previous session due to Fed rate cut optimism. Investors are preparing to peruse the FOMC meeting minutes and a Fed Chair Jerome Powell speech. Gold traders are optimistic that the Fed will start lowering borrowing costs in September. Last week, retail sales data Read More…
