Not too long ago we saw XAUUSD break strongly below a bullish trendline on the daily chart. Since then, we've seen some consolidation. Could this have been a fake out to shake long holders out of their positions?
The last two weeks have been bullish, a stark difference to the first week of May where gold fell well over 800 pips. Some of this is certainly due to...
WTI and Brent crude oil break out of swing zone
In case you forgot, crude oil prices are still at astronomical prices.
As of writing, WTI futures are trading at $114 per barrel, while Brent crude futures are trading at $117 per barrel.
Over Thursday trading, both assets loaded more than 3% onto their already elevated prices. Higher prices are being driven by...
WTI and Brent crude oil break out of swing zone
In case you forgot, crude oil prices are still at astronomical prices.
As of writing, WTI futures are trading at $114 per barrel, while Brent crude futures are trading at $117 per barrel.
Over Thursday trading, both assets loaded more than 3% onto their already elevated prices. Higher prices are being driven by...
The exotic pair of the U.S. Dollar to South African Rand (USD/ZAR) has not correlated strongly with other USD pairs since this year.
In fact, the USD is down 1.3% against the ZAR since the beginning of the year, all the while, the USD index has been super bullish, up 6.1% YTD.
While performing better than the GBP, EUR, and other major partners, the USD is still...
New York-based pharmaceutical firm SIGA Technologies (NASDAQ:SIGA) is among the companies to benefit from the growing threat of monkeypox, recently pushing its shares to an almost decade-high after the company obtained approval in Europe to use its TPOXX antiviral drug for the treatment of monkeypox.
Smallpox jabs vs monkeypox
On May 19, the World Health...
Elon Musk, the wealthiest person in the world, appears to be playing a game of Monopoly in real life as he leads a number of companies in the tech space, and builds stakes in other companies and cryptocurrencies.
However, his recent acquisition of twitter (NYSE:TWTR) may not pass go and perhaps sets him up to be liable for at least 5 billion dollars.
Fallout...
Most traders are aware of the rout that the USD is carving into the Japanese yen and the Great British pound.
Since the beginning of March 2022, the USD has appreciated against the yen by 11%, and 7% against the pound. Naturally, with their respective performances against the USD, the pound has strengthened against the yen since the beginning of March. But, by...
Over the past two years, technology companies have enjoyed explosive growth as investors were upbeat about the prospects for the sector at a time when people relied on technology to stay connected while cooped up in their homes.
Internet firms like Zoom Video Communications (NASDAQ:ZM) were among those to reap substantial gains from the tech boom during the...
Like most commodities, London coffee futures saw a massive price uptrend in 2021. However, since the beginning of 2022, it's finally cooled off to an eight and half month low. As a silver lining, perhaps more interesting price action is currently heading our way.
With a very sharp fall during the last two weeks of February it's since consolidated, trading between...
After reaching a 40-decade high of 8.5% in March, many economists say the US consumer inflation rate has already peaked at that level after the latest print retreated to 8.3% in April.
While this offers some hope for US households and small businesses that don’t profit from price hikes, price pressures will likely continue in the near term with external issues...
This most recent week, we saw GBP/JPY following the same bearish direction as the previous three weeks, with its strongest impulse happening during Wednesday's New York session. When looking at the weekly time frame, this pair has been in an uptrend. However, it is fast approaching a breakout of this upwards trendline, which has held prices up for the past couple...
Experienced stock market traders often attempt to apply their battle-tested systems to forex trading. They often suffer the same setbacks as aspiring forex traders when they do so. Why is this? What makes the forex market so different from stocks, bonds, or indices?
One key difference is that the forex market trades continuously, 24 hours a day, five days a week....
After making its yearly high back in early March, we’ve seen XAUUSD make a few strong impulses down on the daily and weekly chart.
While the last three weeks have shown strong bearishness, the most recent weekly candle from May 2 to May 6 has almost more wick than body. With price just now breaching an obvious trendline we could see it soon showing important...
Geopolitical tensions between China and the US have escalated in recent years amid efforts by both countries to become the world’s economic powerhouse.
Speculations that the Chinese economy would overtake the US by 2030 have led to tit-for-tat tariffs, sanctions, and a revamp of capital market rules aimed at reducing Chinese companies’ access to American...
The Nasdaq Composite Index, the benchmark for technology stocks in the US, fell to its lowest level since November 2020 on Thursday, May 5, which can be attributed to a number of factors, including lacklustre earnings from e-commerce firms like eBay (NASDAQ:EBAY) and macro-economic factors like the Federal Reserve's monetary tightening.
The index fell 4.99% on...
While NZDUSD continued its bearishness last week, it showed a strong move up on Wednesday to produce a Thursday high. However, it sold off very quickly as it continued its drop during Thursday's London and New York sessions.
The pair mostly consolidated on Monday and Tuesday. NZ Unemployment Rate report was the only high impact news coming from New Zealand last...
Russia’s efforts to prop up the ruble appears to be working despite sanctions imposed by Western countries aimed at cutting the Kremlin’s access to external resources and crippling the nation’s ability to fund its war against Ukraine.
Last week, the ruble surged to a more than two-year high against the euro and the US dollar, recouping its losses during the...
The Bank of Japan (BOJ), unlike any of its peers, has become a huge player in the country’s stock market. What began as a monetary policy experiment has turned into what some economists describe as a caveat for policymakers about the extent of intervention a central bank may take in propping up capital markets.
Over the past decade, the BOJ managed to gobble up...
