The dollar held firm on Friday after Powell’s speech, putting pressure on currency futures. The Federal Reserve Chair Jerome Powell said the central bank may need to hike interest rates further to ensure inflation drops but promised to proceed “carefully” at upcoming meetings. In a speech at a summit on the economy in Jackson Hole, Read More…
On Thursday, gold surged to new highs before declining as the US dollar strengthened. The metal was on track for its best week in six weeks. Meanwhile, investors awaited a speech by Federal Reserve Chair Jerome Powell that might provide insights into the future of interest rates. US jobless claims (Source: US Labor Department) Earlier Read More…
Recap Two weeks ago, we looked at GC and the potential for price to first, fall within the support zone then bounce out of it. Gold rallied 1.57% on Wednesday, surging out of the support zone with tremendous conviction, but the question is whether we see the price testing the support zone again in the Read More…
Weekly chart The main feature we can look at on the weekly chart is the volume profile indicator. The Euro has struggled to break above the point of control line and has begun to retrace from it as it acts as resistance. Currently, 6E is trading within a high-volume node. You can see this by Read More…
Equities ended Monday higher amid gains in Nvidia. The Nasdaq closed more than 1% higher on Monday. The S&P 500 also saw gains. Nvidia’s shares surged as investors expressed optimism before its upcoming earnings report. Other technology-related stocks also experienced increases. The yield on 10-year Treasury notes reached levels last observed during the 2007 Great Read More…
Recap A few weeks ago, we looked at a short trade in CL. It is time for an update regarding that trade and further technical analysis that may help us find alternative opportunities. To see the previous article on CL, where we look at the short trade on the daily chart, you can do so Read More…
