Right now we are at yet another short-term turning point even as the longer term move remains up
Stock Recommendations & Trading Strategies: Asian stocks Friday recovered some of the losses sparked by the Federal Reserve’s pivot to tighter monetary policy, while U.S. equity futures climbed after strong Apple Inc. earnings aided sentiment.
Trading Strategies: Natural Gas slid on Tuesday but prices are still expected to remain elevated. We continue to see a general lack of heat in the pattern compared to what was expected previously, with the 15-day period, along with July as a whole, looking to come in cooler than the five- and 10-year normal.
The yen and other safe-haven currencies were in demand on Monday, along with assets such as gold, as investors fretted that the killing of Iran’s most prominent military commander by the United States could trigger a broader Middle East conflict.
It made intraday high at 6.9087 and low at 6.8976 levels.
The New Zealand dollar fell, dragged lower with the Australian dollar on signs consumer sentiment is weakening across the Tasman.
GBPUSD bulls also took out descending channel resistance on the 25th of last month. I pointed out this new support area last Sunday.