Daily discussion to exchange ideas and share your thoughts
Currencies are moving into narrower ranges to start the day, after a solid performance in night trading in a climate of major risk. The dollar and the yen were the two main laggards, but the bigger picture is more mixed to start the session now.
The Aussie is notably returning to stable levels after posting decent gains in the first transactions, the AUD / USD even falling to 0.65551 as the pair seeks to stay above its MA at 100 days.
Meanwhile, the gold breakout encountered a major setback as the price failed to maintain a daily break above its April high amid a drop from $ 1,760 to $ 1,730. However, the silver continues to decently maintain itself and maintains earnings above $ 17 for the time being.
But all that aside, the big story of the market is the stocks. Have the bulls finally won?
The S&P 500 seems to be headed for a test of its key daily moving averages and if that breaks down, you must be wondering what argument is left to say it was to be a “bear market rally”?