Recap In the previous analysis, we did on July 14th, the Euro was rallying up toward a resistance level of $1.12. I want to take a look at price action now as it looks like there is a potential buying opportunity in the Euro. Applying the basics of Elliott wave theory to the price action Read More…
On Monday, the Dow Jones Industrial Average led the upward trend on Wall Street, achieving its longest winning streak in six years. Investors showed confidence in various sectors, not just technology, amidst a week filled with earnings reports and a Federal Reserve meeting. They are eagerly anticipating the earnings of Microsoft, Google-owner Alphabet, and Meta Read More…
Currency futures fell on Friday as the dollar rose amid expectations of a Fed rate hike. The dollar recovered from its July lows in the last week. Dollar spot index (Source: Bloomberg) This week, central bank meetings will occur in the United States and Europe, with the Fed and the European Central Bank expected to Read More…
Intorduction Gold has been an exciting asset to watch in 2023 as there have been periods where it has followed the Dollar, which it generally should diverge from. The yellow metal was up 30% at a stage from its lows made in November of last year to the recent highs made in April, but there Read More…
Weekly chart Volume profile: The point of control for the volume profile, if we measure from the first trading day of the year up until now, is $72. This is the price at which the entire year had the most trading volume. It is likely to act as a magnet for price as it has Read More…
On Thursday, gold prices retreated from a two-month high due to a rise in the dollar and bond yields. However, the decline was limited as hopes persisted for a potential pause in US Federal Reserve rate hikes after the July meeting. According to David Meger, director of metals trading at High Ridge Futures, the rebound Read More…
