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Oil, Crude, trading

US crude oil futures remain in a downtrend, recording a low of $69.68, approaching the first target of $69.65 per barrel. Technical Outlook: The bearish double top pattern on the 4-hour chart continues to exert negative pressure on prices. With trading stability below $71.20, the downtrend is likely to persist, …

Gold prices are currently hovering around the historical peak of $2685 per ounce but have not yet managed to break through this level, leading to some declines during the previous trading session. Technical Analysis: The simple moving averages continue to support the possibility of an upward move, with the 14-day …

The Euro continues to decline against the US Dollar, following the expected downward trajectory as noted in the previous analysis, confirming the break of the 1.0880 level. Technical Outlook: Today’s analysis maintains a bearish outlook for the EUR/USD pair, with negative pressure driven by simple moving averages that support continued …

Gold prices rallied during the mid-North American session on Wednesday, bolstered by a decline in US Treasury yields and a disregard for recent US Dollar strength. Anticipations of interest rate cuts by major central banks, fueled by soft inflation data, weighed on bond yields and propelled the non-yielding metal. As …

EUR/USD Plummets Ahead of ECB Rate CutThe Euro is under significant pressure, pushing EUR/USD to multi-week lows as investors anticipate a rate cut from the European Central Bank (ECB). The ECB is widely expected to reduce its interest rates by 25 basis points on Thursday, a move that could further …

Pound Sterling suffered a significant decline following the release of UK inflation data for September. The unexpected slowdown in price growth has fueled speculation that the Bank of England (BoE) might reconsider its monetary policy stance and opt for a rate cut at its upcoming meeting.The GBP/USD pair plummeted to …

The US Dollar (USD) strengthened against the Canadian Dollar (CAD) on Thursday, with USD/CAD trading near 1.3755. The market is increasingly betting that the Federal Reserve (Fed) will implement a series of modest interest rate cuts in the coming months.The Fed’s dovish stance, coupled with geopolitical tensions and US election …

The confluence of geopolitical, economic, and supply-demand factors has driven WTI prices to a two-week low. While the immediate catalyst was Israel’s pledge to avoid targeting Iran’s oil facilities, the broader context reveals a complex interplay of forces shaping the global crude oil market.Geopolitical TensionsIran’s Nuclear Program: The ongoing tensions …