Recap On June 15th, we set our target for the Euro for a price of $1,104. This target was hit last Thursday as 6E rallied 3.6% from its recent low. The question is whether we see a higher chance this resistance zone will be broken to the upside or if the bears will push 6E Read More…
US equities closed lower on Monday due to investor caution regarding riskier assets and uncertainty surrounding Russia’s failed mutiny over the weekend. The rebellion led by Russian mercenaries raised doubts about the future of President Vladimir Putin. While Putin expressed gratitude towards the fighters and commanders who avoided bloodshed by standing down, the US State Read More…
Technical analysis Volume: The Wyckoff volume has dipped slightly, with te average at 334,780 contracts traded per day, down from 381,900 contracts per day back in April. Support Zone: There is a support zone at $68.01 which continues to attract buyers. There is high demand at this price level, and it will take a big effort Read More…
Currency futures fell on Friday as the dollar rose on safe-haven appeal. The dollar gained strength against the euro due to disappointing global business activity data, negatively affecting risk sentiment. Additionally, hawkish statements from central banks added pressure on riskier currencies. In June, US business activity experienced a decline, reaching a three-month low. Survey data Read More…
A fresh look at the technicals Ascending Triangle: There is an ascending triangle on the daily chart. This tells us that the market is forming a bullish bias. Price is currently testing the diagonal support line at 127’27. Capitulation Candle: There was a capitulation with a high volume spike at the low I pointed to on the Read More…
On Wednesday, oil prices increased by one dollar per barrel due to the rise in US corn and soybean prices, which reached multi-month highs. This surge in agricultural prices led to expectations that global crop shortages would decrease the blending of biofuels and subsequently increase the demand for oil. Traders noted that Chicago Board of Read More…
