As traders eye this week’s ECB meeting and US CPI, the Euro is trading quietly above 1.0700. The ECB’s hawkish stance and eased US price pressures could push the pair above 1.0800. Technically, the Euro bulls are struggling to sustain above 1.0700. This week is expected to be a busy one for Euro futures (6E), Read More…
Technical indicators have always been faulted for lagging, making price action analysis invaluable to any trader. With hundreds of chart patterns to choose from, it may not be easy to decide which one is more reliable and suited to your trading style. However, it’s a general consensus that the ideal ones should generally be easy Read More…
Risk sentiment is returning to the markets as fears of a recession in the US ease. The Bank of Japan Governor says inflation is short-lived and that the bank will keep easing monetary policy to support the economy. Bears are showing weakness in the charts. The Japanese Yen (6J) futures remain neutral as the pair Read More…
Gold futures (GC) prices consolidated losses at a three-month low ahead of key US inflation data. The dollar pullback reminds buyers of mixed sentiment, but the Fed says growth fears weigh on prices. Another sign of hope for the sellers is the price staying around or below the $1,850 area, although the US CPI could Read More…
UK retail sales data weighed on the pound. The Bank of England is still undecided about a rate hike. Fed’s hawkish rate hike plan drives the market. After UK retail sales data for March failed to show that inflation is biting consumers’ wallets, the British pound futures (6B) fell to major levels during the session. 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…
