Traps, traps

Monica Kingsley Monicakingsley

S&P 500 and Nasdaq dumped again not too long after the opening bell, forming a headfake first that we sidestepped with clients, and rode only the decline intraday – relief rally came then, and indices closed strong. Do you see the leadership, which sector(s) can be relied on to drive further ascent, or you have trouble pinpointing that? Real assets were under pressure (markets deems Friday‘s CPI as no real inflation to be worried about), and with so much attention on Mideast, it‘s been hard for the dollar to decline too. Isn‘t that an USD rising wedge developing that you see on the daily?

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.