Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Oil, Crude, trading
Read More »Dow Jones jumps on Wall Street 1/12/2023
USD/JPY to be monitored 1/12/2023
japanese-yen
Read More »GBP needs additional momentum 1/12/2023
Oil, Crude, trading
Read More »Oil hits resistance 1/12/2023
An upward trend dominated the price movements of US crude oil futures contracts, as anticipated, reaching the official target at $79.40 and marking its highest level at $79.65 per barrel. However, technical analysis indicates that oil prices encountered strong resistance around $79.60, prompting a rapid reversal in the trend. Currently, …
Read More »Gold is trying to consolidate 1/12/2023
The support level mentioned in the previous technical report, situated at $2036, effectively restrained the downward movement in gold prices during the last trading session. In terms of technical analysis today, examining the 240-minute time frame chart reveals that the price is currently holding above $2031, with the Stochastic indicator …
Read More »Euro is trying to settle above support 1/12/2023
The EUR/USD pair experienced a decline in the previous trading session, contradicting the anticipated positive outlook. In the earlier report, we relied on the stability of prices above 1.0960, noting that a return to stability below 1.0950 would temporarily halt the upward trend, leading to a retest of 1.0900 and …
Read More »US dollar rises after key data, ahead of Powell’s speech
The Dollar Index has seen a positive pace, trading with gains of 0.60% near the 103.50 area. The Fed is not ruling out further policy tightening, hinting at a moderately hawkish stance. This is due to officials balancing the costs of doing too little and doing too much, as economic …
Read More »Gold still above $2035, but with losses
The XAU/USD is trading around $2035 with a 0.40% loss, following the release of the US’s October Personal Consumption Expenditures (PCE) figures. The figures aligned with expectations, reinforcing the Federal Reserve’s stance on inflation. The headline figure dropped to 3% YoY, while the core measure increased to 3.5% YoY. The …
Read More »Euro nosedives following France’s Q3 contraction
The final GDP for France’s third quarter fell by 0.1% from the preliminary estimate, and the euro is currently trading at 1.0893. The preliminary CPI for France in November was +3.4%, suggesting that rate cuts in the Eurozone might occur sooner rather than later. This is because the economy is …
Read More »Crude oil declines following voluntary output cuts by OPEC+
The OPEC+ coalition, led by Saudi Arabia and Russia, has announced plans for a 1 million barrel cut to daily production, along with an extension of an earlier cut of equal size.Oil prices fell after rising by over 1% earlier in the session after OPEC+ oil producers agreed to voluntary …
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