After reaching a new high at $1817.60, December Gold futures broke, setting up the possibility of a daily closing price reversal top. Typically when margins are hiked, the market tends to sell-off. The CME Group’s hike of...
Read MoreImage by jhyerczyk via Flickr After a 7-day decline, September Copper rebounded with a strong rally on Tuesday. Copper like other risky assets rose sharply higher after the U.S. Federal Reserve Open Market Committee announced...
Read MoreImage by jhyerczyk via Flickr The U.S. Dollar is trading mixed this morning ahead of the New York opening after initially opening higher. The catalyst behind this morning’s action is the news that Washington lawmakers...
Read MoreThe September Swiss Franc posted a record high versus the U.S. Dollar overnight after a bipartisan plan to raise the U.S.debt ceiling fell apart late Friday, unsettling the financial markets and triggering demand for safe-haven...
Read MoreThe September Euro is under pressure this morning. The current rally fell well short of taking out the last major top at 1.4547, putting the market in a position to post a potentially bearish daily closing price reversal top....
Read MoreImage by jhyerczyk via Flickr Traders will be monitoring the events leading up to Thursday’s Euro Zone summit. They want to see a long term solution to the Greek debt crisis as well as guarantees that someone other than...
Read MoreImage by jhyerczyk via Flickr The September Euro is trading lower, but the best way to describe the trading action is “see-sawing”. The overnight action in the Euro is reminiscent of a market that is caught between...
Read MoreImage by jhyerczyk via Flickr The September Euro pierced the last main bottom on the weekly chart at 1.3969, changing the main trend to down. Overnight the Euro also took out but regained the 50% level for the year at 1.3906. In...
Read MoreImage by jhyerczyk via Flickr The U.S. Dollar is trading higher this morning versus the Euro. The September Euro is under pressure on renewed contagion fears. A little less than two weeks since Greece agreed to austere measures...
Read MoreImage by jhyerczyk via Flickr The U.S. Dollar is trading higher against most major currencies this morning as traders await this morning’s U.S. Non-Farm Payrolls Report. Expectations are that the report will show an...
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