Dow Jones Industrial Average Holds Above Water

Dow Jones Industrial Average closed the week ahead of where it started. However, the last couple hours of trading on Friday saw profit taking as DJIA slipped going into the close. We wrote earlier this week how the Dow Jones Industrial Average inability to dive was keeping the bulls alive. Since breaking above the trend […]

Bitcoin rally gathers steam, nears $5,000

Bitcoin hit all-time highs on Friday – Bitcoin surged to all-time highs for the second straight day, edging closer to $5,000, a price level which would take its market cap close to $100 billion while Bitcoin Cash continued to its rebound following its slump in the prior week. On the U.S.-based Bitfinex exchange, bitcoin […]

CFTC: S&P 500 Net Longs at 1-Year High; Gold Net Longs at 11-Month High

CFTC: S&P 500 Net Longs at 1-Year High; Gold Net Longs at 11-Month High — The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending August 29 on Friday. Speculative positioning in the CME and ICE currency, commodity, energy and index futures:     LongShort NetPriorChangeGrossChangeGrossChangeEUR86.5k88.0k-1.5k194.3k-3.5k107.8k-2.0kGBP-51.6k-45.9k-5.7k

Central Bank Week Approaches As Fault Lines In DXY Trend Develop

Highlights: Dollar fends off bears after an NFP headline miss, and inline details closing week higher Next week contains ECB and BoC, both of which could provide strong FX direction Commodity market energy sector remains unclear as Harvey damages still not fully known Sentiment HighlightUSD/CAD short positions retreat by 26% WoW, further downside favored The […]

Monthly chart only: USDJPY longer term bias mixed

Below 50% midpoint retracements, but above the 200 month MAThe USDJPY last month got within 12 pips of the 2017 low price at 108.24 (the low for the year comes in at 108.12) and bounced.  The month closed just shy of 110.00 (at 109.97).   That close was lower than July’s close but only by […]

Daily analysis of Gold for September 01, 2017

Overview The gold price shows some slight bearish bias after approaching the bullish channel’s resistance, affected by stochastic negativity. Meanwhile, the EMA50 keeps supporting the price, and as long as the price is above 1,295.37, the bullish trend scenario will remain active for today and the price is likely to head towards 1,350.00 as the […]