The index continues its advance on Wall Street, gradually approaching the 47,000 psychological barrier. Technical Picture: 50-day SMA: Provides consistent support, reinforcing the prevailing bullish bias. RSI: Maintains positive signals on short-term timeframes, reflecting sustained upward momentum. Probable Scenario: Bullish Case (preferred): As long as daily trading consolidates above 46,660, …
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The pair maintained its bullish momentum, reaching the official target at 1.3970 and recording a session high of 1.3986. Technical Outlook: RSI: Continues to issue positive short-term signals, reflecting sustained bullish momentum. 50-day SMA: Price action remains above the moving average, providing dynamic support to the uptrend. Probable Scenario: Bullish …
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The pair extended its bearish trajectory in line with expectations, reaching the first downside target at 1.3430 and printing a session low of 1.3401. Technical Outlook: RSI: Cleared the oversold zone from the prior session but continues to show weak momentum, reflecting limited buying strength. 50-day SMA: Still acting as …
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US crude oil futures faced heavy selling pressure in the last session, sliding to a low of $60.42 per barrel. Technical Outlook: Moving Averages: The simple moving averages continue to weigh on price from above, with the 50-day SMA converging near 61.80, reinforcing resistance. RSI: The index is in oversold …
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After reaching a record high of $3,897, gold prices faced heavy profit-taking, retreating to $3,819 before attempting to stabilize. Technical Outlook: 50-day SMA: Price action remains supported above the moving average, preserving the broader bullish structure. RSI: Currently sending negative signals, reflecting weaker momentum and creating intraday volatility. Trend Bias: …
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The pair moved lower in line with the previous bearish outlook, approaching the first downside target at 1.1665 and recording a low of 1.1683. Technical Outlook: 50-day SMA: Price action remains capped below the moving average, which acts as dynamic resistance, limiting upside potential. RSI: After a brief intraday rise, …
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Global oil markets faced a sharp downturn on Thursday, as the price of West Texas Intermediate (WTI) crude oil plummeted below the $61 per barrel mark, registering its lowest level in several months. This severe drop comes amid escalating concerns that a global supply flood is coinciding with a deterioration …
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The Canadian Dollar (CAD) isn’t just weak; it’s a testament to policy paralysis. Its recent tumble, pushing the US Dollar (USD) to trade near 1.39688—a level not seen in five months—isn’t a market blip. It is a clear indictment of the Bank of Canada’s (BoC) impossible “two-way trap,” a situation …
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The Japanese Yen (JPY) surged to a two-week high against the US Dollar (USD) on Wednesday, driving the USD/JPY pair down by approximately 0.5%. This significant move was primarily fueled by a sharp increase in safe-haven demand after the US government officially entered a shutdown.The resulting political uncertainty in the …
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The ongoing US federal government shutdown is casting a long shadow over global markets, prompting a partial rebound in the US Dollar after days of declines. This political impasse isn’t just a domestic headache—it’s amplifying economic uncertainties worldwide, especially as key data releases loom. With no end in sight, investors …
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