|Day's Range||1,506.10 - 1,508.80|
Based on today’s wide range and current price at 1.1085, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at 1.1112 and the uptrending Gann angle at 1.1066.
US farmers are complaining that the government crop report did not reflect damage from extreme weather conditions in the last months, and it looks like they are right after the Pro Farmer Crop Tour is reporting significantly lower yields than the WASDE report.
The direction depends on whether the short sellers want to give in a little to trigger a short-covering rally so they can short again at better prices. Or, if the short sellers smell blood and want to punish the last of the longs while squeezing every drop of profit out of the market.
Investing.com - Gold prices fell on Thursday as traders were disappointed the U.S. Federal Reserve did not reveal any plans for a series rate cuts.
Generally speaking the aim of active stock picking is to find companies that provide returns that are superior to the...
The silver market has gone back and forth during the trading session on Wednesday as we continue to wait for some type of clarity when it comes to monetary policy from several central banks around the world. We know that they are all going dovish, the question is how dovish?
Gold markets pulled back a bit during the trading session on Wednesday but continues to find support underneath near the $1500 level. That being the case, it’s very likely that we will continue to see a lot of interest in gold as it has been such a bullish move lately.
Gold is in a long-term bull market but from time to time the market will go through periods of profit-taking and position-squaring. Additionally, traders are not always going to chase the market higher.
Based on the early price action and the current price at 98.175, the direction of the September U.S. Dollar Index futures contract is likely to be determined by trader reaction to the Fibonacci level at 98.045.
The S&P500; fell Tuesday, down 0.8%, and U.S. 10-year Treasury yields fell 5bps to 1.55%. The market seems to have paid little attention to the U.S. president indicating he would explore” various tax reductions” to help stimulate growth, for example. Instead, investors succumbed to apprehension in rates and trade talks.
Based on the price action the past two sessions and today’s current price at $56.31, the direction of the October WTI crude oil futures contract on Wednesday is likely to be determined by trader reaction to the main 50% level at $55.72.
Monero’s XRM follows on from Tuesday’s slide with a bearish start to the day. Pressure comes from the broader markets as the bears fight back.