rice have broke downwards from the channel, signifying a bearish momentum. We can expect price to drop from the pivot level in line with 23.6% Fibonacci retracement towards the take profit level in line with 50% Fibonacci retracement . Our bearish bias is further supported by the RSI indicator where...
EURJPY is on a bearish momentum 25th Oct.
Prices are consolidating in a triangle on the daily chart . We spot a potential entry at 132.32 in line with 23.6% Fibonacci retracement towards our Take Profit at 131.281 which is in line with an area of Fibonacci confluences and also a graphical overlap. Technical indicators are showing bearish...
This market climbing a wall of major worries
Today we look at the remarkably complacent equity market as the VIX drops back toward cycle lows and the broader US market touches all time highs even as the market prices the Fed to move its rate hike lift-off significantly earlier after comments on Friday from Fed Chair Powell that...
Market Quick Take – October 25, 2021
Equity markets traded a bit softer on Friday after US Fed Chair Powell said that the time had come to taper QE purchases, but not raise rates, but his comments included language suggesting increasing Fed unease, and rate bets for hikes next year were pulled sharply forward on Thursday and...
COT: Copper and silver see strong speculative demand
The COT report shows futures positions and changes made by hedge funds across commodities, forex and financials up until last Tuesday, October 19. A week where risk appetite returned with a vengeance to send the S&P 500 higher and the VIX index down to near a 20-month low. The dollar...