The British pound jumped against the Japanese yen, achieving notable gains, as we expected, touching the required target at 154.00, to record its highest level at 154.32. Today, we tend to the positivity, relying on the pair’s success in building a base at the support level of 153.50, which is …
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The Canadian dollar managed to work within the bullish technical correction referred to during this week’s reports, touching the first target of the last report at 1.2570, recording the highest level at 1.2586. Technically, the pair is now hovering around a strong resistance level of 1.2590 represented by the 38.20% …
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Oil, Crude, trading
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Oil, Crude, trading
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Gold prices managed to touch the extended target, as we mentioned yesterday. We relied on confirming the breach of the main resistance level 1867, explaining that it enhances the gains to visit 1877, recording its highest level at 1877. Technically, Strong supply areas at the resistance represented by the target …
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The losses of the European single currency extended against the US dollar, as we expected, bypassing the second official leg of the current downside wave represented by our target 1.1300, recording its lowest level at 1.1263 during today’s Asian session. Technically, and by looking at the chart, we notice the …
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The first virtual Chinese-US summit, Tuesday, shadowed the markets as investors eyed easing tensions between the two world’s biggest economies. US President Joe Biden said that he had a “good meeting” with Chinese counterpart Xi Jinping, in which the two leaders discussed tariff and economic competition among other issues after …
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The American Petroleum Institute (API) reported a small inventory build in crude oil that was just enough to keep the market from panicking because of declining inventories. This week, the API estimated the inventory for crude oil to be 655,000 barrels.U.S. crude inventories are now 60 million barrels below the …
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The British pound has a very busy week as traders digest employment data, Tuesday, inflation on Wednesday and retail sales on Friday.Economists expect 3.9% UK inflation for October, strengthening rate hike by BoE’s December meeting to suggest three scenarios:1. Within expectations: A reading between 3.6% to 4.4% meets estimates. In …
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US President Joe Biden said on Tuesday that he had a good meeting with Chinese President Xi Jinping. Biden said that he and Xi have a lot to follow up on and that their aides would be working together on a range of issues. Biden added that he made clear …
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