Noor Trends News, Technical Analysis, Educational Tools and Recommendations

Gold prices remain confined within a narrow sideways range, bounded by the 2313 support level and the 2340 resistance level. Technical Outlook: Analysis of the 240-minute chart reveals a bearish flag pattern formation, indicating a potential continuation of the downward trend. The 50-day simple moving average is exerting negative pressure, …

The EUR/USD pair showed positive movements at the end of last week, but the upside remains limited as the pair failed to break above the 1.0760 resistance level. Technical Outlook: On the 4-hour chart, the 50-day simple moving average (SMA) continues to act as a significant barrier around the 1.0760 …

Oil prices maintained a delicate equilibrium on Wednesday, caught between escalating geopolitical tensions in Europe and the Middle East and growing apprehension over a surprising build in U.S. crude inventories. The market remained cautiously optimistic, with Brent crude futures edging up by a marginal 2 cents to $85.35 a barrel, …

Six senior Federal Reserve officials from various regions made important statements today, Tuesday, adding to the ongoing discussion about future U.S. monetary policy. The economic agenda also featured presentations and discussions with Fed officials, including two voting members of the Federal Open Market Committee. The next Federal Open Market Committee …

The GBP/USD pair is currently trading around 1.2700 as markets prepare for a lopsided Wednesday session with a US holiday and a fresh update on UK CPI inflation. The Bank of England’s interest rate call is expected on Thursday, and another rate hold is expected. Market sentiment was broadly pinned …

The International Energy Agency claims that efforts by the Organization of the Petroleum Exporting Countries and its partners, or OPEC+, to support prices by reducing production could be “upended” by an impending surplus in the world’s oil supply. The United States and other American nations are expected to lead the …

Gold (XAU/USD) price has fallen over a quarter of a percent on Tuesday as the market shifts towards riskier assets over safe-havens. A World Gold Council survey indicates that central bank demand is expected to remain strong in 2024, adding a backwind to the gold price. The decline comes as …

The US Dollar has been trading in the red after a disastrous US Retail Sales, which missed the 0.2% consensus and resulted in a contraction in retail sales without transportation. This has led to a second wave of US Dollar easing, with the Redbook Index for June now at 5.9% …

The U.S. dollar gained ground on Tuesday, buoyed by anticipation of key retail sales data and speeches from Federal Reserve officials. Traders sought insights to better understand the potential timing and pace of future interest rate cuts. The Dollar Index, measuring the greenback against a basket of major currencies, rose …

Even while US yields rose in reaction to an improvement in overall risk appetite trends and a modicum of relief from political unrest in Europe, the US dollar lost some of its recent gains. Amidst investor speculation of two Fed interest rate cuts in 2024, the USD Index (DXY) posted …