Introduction Last Week, 6E closed with a green bullish hammer on the weekly chart after 10 out of 11 red weeks. A huge decline in value for the Euro. The selling in the Euro has been volatile, with every buy getting sold heavily into. The bears have been in control primarily because the Dollar has Read More…
US equities ended higher on Tuesday, marking their third consecutive day of gains. This rise followed dovish statements from US Federal Reserve officials, which caused Treasury yields to drop. At the same time, investors were cautiously monitoring the situation in the Middle East. Atlanta Fed President Raphael Bostic asserted that there was no need for Read More…
Technical Analysis ES has been in an uptrend this year, and after a sizeable pullback of 8.8% from the recent local top, it appears that the low might be in and could be the opportunity that bulls have been waiting for. Yesterday (Monday, October 10) price action formed a morning star candlestick pattern, and if Read More…
Recap The last time we looked at the US Dollar (DXY), we noticed the strong price action and bullish up trend. Before we look at the new developments in the Dollar, let’s understand what it means for us as traders and investors. A stronger Dollar typically has an inverse relationship with gold, crude oil, and Read More…
On Wednesday, oil prices dropped over $5 due to a decline in fuel demand and a gloomier economic outlook. Both benchmark prices hit session lows, plummeting more than $5, while heating oil and gasoline futures also saw a more than 5% decrease. Since last week’s settlement, crude oil prices have fallen by approximately $10. The Read More…
Quick Recap Last week, we looked at Gold, and the bearish stance we took has proven to be correct, as the $1,831 target has been hit. Unfortunately, however, it was a difficult short trade to take because GC only painted red candles after the analysis, thus giving us no entry on a retracement. Moving forward, Read More…
