The technical outlook is unchanged, and the Canadian dollar has not changed significantly, maintaining the bullish corrective bias. From the technical analysis, we are continuing to suggest the bullish trend, relying on the stability of trading above 1.2540 the previously breached resistance in addition to the positive motive for the …
Read More »GBP/USD: Faces Negativity
Oil, Crude, trading
Read More »Oil Trying to Recover And The Positivity Needs Confirmation
Oil, Crude, trading
Read More »Gold Waiting Pending Orders
Narrow-range sideways trading dominated gold’s movements for the second session in a row, pinging from the bottom above the support level at 1722 and from below the resistance level at 1747. Technically, we will maintain the same technical conditions, waiting for a signal to stimulate the price. With a closer …
Read More »Euro Extends Losses
The single European currency continued to decline against the US dollar within the expected bearish path mentioned in the previous analysis, touching our required target located at 1.1800, to record its lowest level at 1.1806. On the technical side, today, and with a closer look at the 4-hour chart, the …
Read More »UK and EU Working on Vaccine Cooperation as New Variant Emerges in India
The United Kingdom (UK) and the European Union (EU) released a joint statement, expressing aim for cooperation and creating a win-win situation by expanding vaccine supply for all citizens. “We are all facing the same pandemic and the third wave makes cooperation between the EU and UK even more important. …
Read More »Oil Surges 6% amid Concerns about Supply Flows
Oil prices surged and closed higher on Wednesday, a day following entering into the correction territory, after an incident in Egypt’s Suez Canal led to concerns about the flow of global crude supplies. Oil stockpiles in the United States rose last week by 1.9 million, the U.S. Energy Information Administration …
Read More »Fed’s Williams Expects Strong Economic Recovery
President of the Federal Reserve Bank of New York, John Williams, said on Wednesday that the pace of economic recovery would determine when the Fed could begin raising interest rates. Wide distribution of vaccines, containing the virus, and strong economic growth could lead the U.S. Federal Reserve to pull back …
Read More »Gold Finishes Higher amid Coronavirus Fears
Gold prices returned to gains on Wednesday, following two consecutive daily declines, amid increased demand for safe-havens, amid concerns about a third wave of the Coronavirus pandemic and renewed lockdowns in Europe. The rise of the yellow metal futures came despite the rise of the U.S. Dollar (USD) to its …
Read More »Bitcoin Declines Following Brief Surge on Tesla’s Tweet
Customers of Tesla can now purchase the company’s famous electric cars using Bitcoin, the company’s CEO Elon Musk announced on Wednesday through Twitter. “You can now buy a Tesla with Bitcoin,” Musk tweeted. Earlier this year, Tesla decided to invest $1.5 billion in the cryptocurrency, which helped Bitcoin reach new …
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