US 30 Struggles To Rally Back
The Dow Jones is under pressure as investors fear that inflation could choke off economic recovery. The index has been struggling to reclaim the landmark 36000, which coincides with the 20-day moving average. The faded rebound suggests exhaustion after a...
NZD/USD Bounces Off Demand Area
The New Zealand dollar inches higher as traders are positioning for an RBNZ rate hike next week. From the daily chart’s perspective, the pair has bounced off the demand zone near the psychological level of 0.7000. A bullish RSI divergence...
USD/CHF Seeks Support
The US dollar stalled after weekly jobless claims came in higher than expected. The pair’s attempt above the daily resistance at 0.9310 suggests that the bulls may have gained the upper hand. Intraday buyers’ profit-taking led by the RSI’s overbought...
SPY Elliott Wave View: Should Extend Into New Highs
Short-term Elliott Wave view in SPY suggests that the cycle from October 01, 2021 low is showing a higher high sequence favoring new highs to follow. The internals of that rally is unfolding as an Elliott Wave impulse sequence where...
The Dollar Hit Several Resistance Levels
Markets The euro snapped a six-day losing streak against the dollar. It was one of the more remarkable observances during a relatively quiet session since fragile stocks (-0.5% in Europe, mixed in the US) and Bund outperformance suggested otherwise. German...
Euro Recovers, Dollar Retreats as Markets Turn Quiet
Dollar’s retreat continues in Asian session, but it remains one of the strongest for the week, just next to Sterling. On the other hand, while Euro is recovering, it’s still the worst performing one followed by Aussie. Overall, the markets...