Noor Trends News, Technical Analysis, Educational Tools and Recommendations

Quiet positive trading characterized the movements of the Canadian dollar yesterday, aligning with the anticipated bullish trend and nearing the first target of 1.2610, reaching a peak of 1.2605. In terms of technical analysis today, we maintain a cautiously optimistic stance, contingent upon trading stability above the established support level …

japanese-yen

Oil, Crude, trading

US crude oil futures prices experienced a significant decline, relinquishing earlier gains and confirming the bearish outlook outlined in yesterday’s analysis. The prices touched the initial target of $77.70, reaching a low of $77.55 per barrel. Upon closer examination of the 4-hour chart, it is evident that the price remains …

Gold prices experienced significant gains during the previous trading session, in line with the anticipated positive trend, nearing the historical peak recorded around $2144 per ounce and reaching a high of $2141. Analyzing the technical aspects today, particularly on the 4-hour timeframe, we observe that the resistance level at $2144, …

The technical outlook for the EUR/USD pair remains consistent, with no significant deviation from the previous analysis. The pair continues to trade within the established sideways price range, bounded by support near 1.0800 and resistance around 1.0860. Examining the 4-hour chart, we observe that the 50-day simple moving average continues …

Since its January meeting, the Bank of Canada has refrained from using the phrase “the bank is still ready to raise interest rates if necessary,” which was previously a frequent mention in its statements. This adjustment comes at a time when the market anticipates rate cuts by other central banks. …

Gold prices reached a new record of $2141.59 earlier on Tuesday, driven by expectations of forthcoming Fed policy easing. Reports of slowing business activity in the US services sector contributed to the rally, with XAU/USD now trading at $2126.85.A decline in US Treasury yields supports the surge in gold prices. …

The Bank of Canada is expected to maintain a 5% interest rate at its upcoming meeting, with a possible first rate cut in June. This approach will allow the Bank to monitor GDP figures and their impact on the interest rate’s outlook, as economic analysts believe the Canadian economy is …

As of this writing, Bitcoin is down 7.17% from its previous daily closing price of $68359, primarily due to profit-taking and risk aversion. However, as Bitcoin and Ethereum take centre stage in the market, altcoin season is picking up steam. The market is gaining further excitement and confidence right now, …