The positivity dominated the Canadian dollar’s movements after it managed in building a strong base at 1.3240. Technically, we find that the 50-day moving average is holding the price, with the RSI above its mid-line on short intervals. We think that there is a possibility to continue the upside, and …
Read More »British Pound Still in Negative Territory
The British pound is trading on the downside against the US dollar, hovering near the session low around 1.2900. Technically, looking at the 4-hour chart, we find that the stochastic is moving negatively with continued negative pressure from the simple moving averages. Therefore, with consolidation below 1.2960 and generally below …
Read More »Oil Continues to Post Losses
Oil, Crude, trading
Read More »Gold Trying to Re-Test Resistance
Negative trading dominated gold prices, as we expected, touching the target published in the previous analysis at 1860, to post a low at 1864. Technically, the current movements are witnessing a slight upward tendency, as a result of approaching the support level of 1860 in the attempts to re-test 1894. …
Read More »Euro Continues to Move Towards Negative Targets
The single European currency continues to decline against the US dollar within the expected bearish path. The euro continues to crawl negatively shy off target published in the previous analysis at 1.1620, posting low at 1.1630. Technically, looking at the 240-minute chart, we see that the moving averages continue to …
Read More »General Lockdown Returns to Britain for 4 weeks
British Prime Minister Boris Johnson announced Saturday, October 31, that England will adopt a second general lockdown with the spread of Coronavirus cases in the United Kingdom, which leads to the closure of all non-essential businesses, leaving schools open until December 1 while trying to suppress the virus. . Johnson …
Read More »Oil Ends October at Lowest Level in Five Months
Oil prices declined on Friday to settle at their lowest closing level in about five months, as a negative outlook for the recovery of global demand persists, with uncertainty surrounding the future of output cuts. Brent crude futures for December delivery declined by 19 cents, or 0.5%, and closed at …
Read More »Gold Posts Third Weekly Decline
Gold prices rose on Friday to limit its third consecutive weekly decline, amid uncertainty that is dominating the market. Gold futures for December delivery rose by $11.90, or 0.6%, and settled at $1,879.90 per ounce, its lowest closing level since September 25. For the week, gold futures posted a 1.3% …
Read More »US Oil Rigs Rise for Sixth Week in Row
The number of active oilrigs in the United States rose by 10 to 221 during the week, according to the weekly report by Baker Hughes released on Friday. This is the sixth consecutive weekly increase in active rigs drilling for oil in the US. A decline in natural gas rigs …
Read More »Global Demand for Gold Declines to Lowest Level in 11 Years
The global demand for gold declined during the third quarter (Q3) of 2020 by 19% year-on-year. Demand during Q3 for the yellow metal amounted to 892 metric tons, the lowest quarterly level registered since 2009, according to data by the World Gold Council. Meanwhile, investments in the gold sector rose …
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