Recap In the analysis we did on June 28th, the Euro has rallied over 3%, shooting right through the resistance zone high of $1,11. The RSI is also overbought on the daily chart, but there is no significant trend in tact. This tells us that we should avoid searching for long entries at this point. As Read More…
On Wednesday, oil prices rose, and benchmark Brent futures surpassed $80 per barrel, reaching a level not seen since May. This increase was due to US inflation data, which raised hopes that the Federal Reserve might reduce the number of interest rate hikes planned for the world’s largest economy. Oil gains after US inflation (Source: Read More…
Intro The Dollar has finally broken below the support level of $101.2. This level has held since January of this year and is also the 50% Fib level if we measure the retracement from January 2021 to the high in September of last year. DXY appears very weak on the chart, and bears look to Read More…
US equities rose on Tuesday due to positive expectations for upcoming inflation reports. Financial shares like JPMorgan rose in anticipation of their earnings this week. Wall Street banks will likely announce increased profits for the second quarter as higher interest payments offset a decline in dealmaking. Investors want more information on whether inflation is decreasing Read More…
Bullish momentum NQ has rallied 47% since the low made in October of last year, and the bullish momentum shows no signs of slowing down. I see no bearish case for Nasdaq at this point. Let’s take a look at the technicals and if we see NQ reaching all-time highs in the next few weeks Read More…
Weekly Chart The weekly chart shows a series of bullish candlestick formations. Long wicks to the downside show that there is a high demand for gold even when the sellers try to push the price down heavily. We can take note of this as a bullish signal. There has also been a slight decrease in Read More…
