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Oil, Crude, trading

The Canadian dollar hit the resistance level of 1.3860 after attempting to approach the target mentioned in the previous report, 1.3890, to trade negatively again below 1.3780. Technically, the current movements are witnessing a bearish direction accompanied by the negative pressure of the simple moving averages, which returned pressure on …

Oil, Crude, trading

Attempts for US crude oil futures contracts continue to achieve some gains within the bullish path published during the previous technical analysis, surpassing the target of 76.00, recording its highest level at $77.42 per barrel. Technically, the 50-day simple moving average still constitutes an obstacle in front of oil prices, …

Gold prices jumped on the shoulders of the US dollar after the US jobs data last Friday, close to achieving $1900 per ounce, recording its highest level of 1894. Today, gold prices consolidated above the support level of 1860, accompanied by the positive impulse from the simple moving averages supporting …

A noticeable rise for the Euro-dollar pair, achieving substantial gains, building on the weakness of the US dollar after the US jobs data, invalidating the technical outlook as we expected. As a reminder, we indicated during the previous technical report that the price’s consolidation once again above 1.0640 would immediately …

Last week, as China seeks to intensify its efforts to reduce stubborn financial risks and technological bottlenecks during President Xi Jinping’s third term, the country kept the top leaders at the central bank and the Ministry of Finance unchanged.In the United States, a government study on Friday renewed hopes of …

When traders boosted their long holdings in response to the recent dip, WTI oil regained ground around the $77 mark. The American crude closed Friday’s trading at $76.68 per barrel.Brent oil’s price increased and got close to $83 per barrel. If the right catalysts manifest, the momentum may still grow …

The Euro gains from a weaker dollar following the NFP and high inflation figures in Germany. The EUR/USD pair concluded the week with modest gains after reaching a two-week high at 1.0700. As the Silicon Valley Bank in the US declared bankruptcy, the market’s mood turned negative due to the …

While the employment growth in February was not as significant as in January, it was still somewhat more than expected, which is another sign that the Canadian economy will start 2023 with more strength than previously predicted.The increase in jobs this month was less pronounced than in prior months, but …