The USD/CAD pair recorded modest gains during today’s session as it attempted to recover from recent losses, showing cautious bullish momentum in intraday trading. Technical Outlook – 4-hour Chart:Despite the slight rebound, the pair remains under pressure from the simple moving averages acting as dynamic resistance. Additionally, the Relative Strength …
Read More »GBP Moves Higher as Technical Indicators Turn More Bullish 2/7/2025
Oil, Crude, trading
Read More »Oil Prices Under Pressure — Are Further Losses Ahead? 2/7/2025
Oil prices traded cautiously higher during today’s session, following a string of consecutive declines. The market saw a modest rebound, with prices testing the psychological resistance level at $66.00 per barrel. Current Range: Support: $64.65 Resistance: $65.95 Prices remain confined within a narrow sideways range. The simple moving averages continue …
Read More »Strong Buying Momentum Puts Gold Back in the Spotlight 2/7/2025
Gold prices saw a strong rebound in the previous session, achieving a short-term upward correction within a broader downtrend, reaching the anticipated technical targets of $3327 and $3360, with a session high at $3358 per ounce. Technical Outlook (4-hour chart):The $3358 resistance level has proven to be a firm barrier, …
Read More »Dollar Retreats as Euro Catches Its Breath for a Climb 2/7/2025
The EUR/USD pair continues to follow a positive trajectory, in line with prior expectations, reaching the 1.1800 target and recording a session high of 1.1830. Technical Outlook (4-hour timeframe):Despite some mild profit-taking, technical indicators remain aligned with a continuation of the uptrend: The pair is trading consistently above the 50-day …
Read More »WTI Crude Oil Edges Up as Markets Await API Inventory Data
West Texas Intermediate (WTI) crude oil prices climbed toward $65.00 on July 1, 2025, driven by shifting focus to the upcoming American Petroleum Institute (API) weekly inventory report. After a 12% price drop last week, WTI’s modest recovery reflects cautious optimism amid easing Middle East tensions and rising U.S. demand. …
Read More »Dow Soars 426 Points as Investors Shift from Tech to Healthcare; Tesla Plunges Amid Trump-Musk Feud
Dow Soars 426 Points as Investors Shift to Healthcare; Tesla Plunges Amid Trump-Musk Feud The U.S. stock market opened the third quarter with mixed performance, as the Dow Jones Industrial Average surged 426 points, a 1% gain, driven by a rotation from technology to defensive sectors like healthcare. The S&P …
Read More »Gold Jumps Over 1% as Trade Tensions and Fiscal Fears Boost Safe-Haven Appeal
Gold prices soared by more than 1.13%, climbing to approximately $3,355 per ounce, before stablizing at $3,339 at the time of writing, propelled by mounting uncertainties surrounding global trade policies as the U.S. approaches a critical July 9 tariff deadline. The faltering progress in trade negotiations, combined with unpredictable economic …
Read More »Senate Approves Trump’s ‘One Big Beautiful Bill’: Key Provisions and Next Steps
The US Senate passed President Donald Trump’s ambitious legislative package, known as the “One Big Beautiful Bill,” marking a significant milestone in his administration’s economic agenda. The 940-page bill, which narrowly cleared procedural hurdles over the weekend, survived a contentious “vote-a-rama” session to secure approval. Combining sweeping tax cuts, spending …
Read More »US Dollar Stages Comeback as Strong ISM and JOLTS Data Counter Political and Trade Uncertainties
The US Dollar Index (DXY) staged a recovery after hitting its lowest level since February 2022 at 96.38, climbing to around 96.85 during the American session, buoyed by stronger-than-expected US economic data. The ISM Manufacturing PMI and JOLTS Job Openings reports exceeded forecasts, easing some of the bearish pressure that …
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