Introduction The Dollar has rallied 6% since July. This might not sound like a significant amount, but it is a significant move for a currency paired against a basket of other currencies. The DXY index topped out at 114.7 in September last year, then started falling and dropping to a low of 99.5 in July. Read More…
Equities lost ground on Tuesday as the US Federal Reserve convened its highly-anticipated two-day monetary policy meeting. This meeting caused a shift toward risk-averse sentiment. All three US indices ended lower in a widespread sell-off before the Fed’s impending interest rate announcement on Wednesday. The Fed will also unveil its Summary Economic Projections, including its Read More…
Weekly Chart Zooming out and looking at price action from the start of the year shows us a small resemblance to a cup formation, which leads me to believe that if we see a handle in the next few weeks or months, there is potential for a much bigger bullish move in ES, one that Read More…
Recap The last time we looked at Gold, we already identified a symmetrical triangle formation on the daily chart that could be the catalyst for a move in either direction. Yesterday, GC bounced off the low of that triangle and could be allowing the bulls to go long. Before we move on to this week’s Read More…
On Friday, currency futures rose as the US dollar dropped due to decreased consumer sentiment data. However, the dollar still recorded a ninth consecutive week of gains. Meanwhile, the yen reached a 10-month low. US consumer sentiment (Source: University of Michigan, Bloomberg) The University of Michigan’s Consumer Sentiment Index preliminary reading for this month was Read More…
Technical Analysis NQ is currently stuck within a range that could be used as an opportunity to buy lows as the general market sentiment remains bullish. Once the bounce occurred on August 18th, NQ began moving sideways as traders who got in early were taking profits. Traders who missed the move have begun buying, hoping Read More…
