Positive movements dominated the pound sterling’s trading against its Japanese counterpart to reflect the expected bearish tendency during the previous analysis and remind us that consolidation above 163.10 can thwart the bearish scenario and lead the pair to recover quickly to visit 163.85, recording its highest level at 164.10. On …
Read More »CAD The Canadian needs to confirm the break 6/6/2022
Sideways trades that tend to the downside continue to dominate the movements of the Canadian dollar, to return to test the strong resistance level located at 1.2600, unable to breach it until now. From the angle of technical analysis today, and with careful consideration on the 4-hour chart, we find …
Read More »GBP is facing selling pressure 6/6/2022
Oil, Crude, trading
Read More »Gold is building on support 6/6/2022
Gold prices declined significantly at the end of last week’s trading, under pressure from the rise of the US currency, to find that gold succeeded in retesting the 1850 level, recording its lowest level at 1848 after recording the highest at 1874. Technically today, and by looking at the 4-hour …
Read More »The euro is stable below the main resistance 6/6/2022
The bearish tendency regained control over the euro’s movements against the US dollar to start its first weekly trading, quietly declining to the downside, stable around its lowest level during the morning trading of the current session, 1.0725. Technically, and by looking at the 4-hour chart, we find the pair …
Read More »Financial Markets’ Weekly Recap, 30 May: 3 June
Around the end of 2021, nobody was talking about a US recession, but now, the dreaded ‘recession’ word is on everybody’s lips. During the week, Tesla CEO Elon Musk voiced this fear using the “super bad feeling” phrase about the US economy. “Lots of luck on his trip to the …
Read More »Market Divers – US Session – 3 June
US equities finished the last trading session of the week with heavy losses, between 1.05% and 2.47%. Positive US jobs report further cemented the case for a US Federal Reserve rate hike of 50 bps in the June meeting, despite worries that the US central bank could cause a recession.Economic …
Read More »Biden Ignores Elon Musk’s economic concerns, lauds Ford
US President Joe Biden ignores Elon Musk’s fears about the US economy by pointing to latest investments made by the electric-carmaker’s competitors. Biden also took an indifferent situation at Musk saying “Lots of luck on his trip to the moon”.Biden, on Friday, warmly praised some of Musk’s competitors for expanding …
Read More »Baker Hughes: US oil, gas drilling rigs unchanged this week
US energy companies have kept oil and natural gas rigs unchanged this week as crude output slowly recovers from the impact of the coronavirus pandemic with many producers still more focused on returning money to shareholders.The oil and gas rig count, an early indicator of future output, were flat at …
Read More »USD/CHF Advances as bulls eye 20-DMA
On the week’s last trading day, the USD/CHF pair jumps from weekly lows erasing Thursday’s losses, the pair also gains 0.56% as the New York session gets closer to its end. The USD/CHF is trading at 0.9626, reflecting a downbeat mood and a strong US Dollar, underpinned by high US …
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