Noor Trends News, Technical Analysis, Educational Tools and Recommendations

US crude oil futures experienced a substantial decline in the previous trading session, aligning with the anticipated downward trajectory outlined in the preceding technical report. The price surpassed the specified targets, reaching as low as $73.85 per barrel. Examining the 240-minute time frame chart reveals efforts by oil to mitigate …

The technical landscape for gold remains unchanged, with the precious metal exhibiting consistent positive stability and maintaining a steadfast position above the key support level at 1977. In today’s technical analysis, the price is observed to be resiliently positioned above the crucial support floor at 1977, representing the 38.20% Fibonacci …

The EUR/USD pair experienced a downturn, directing trades towards a reevaluation of the key support level highlighted in the previous report at 1.0860. In today’s technical analysis, a meticulous examination of the 4-hour time frame chart reveals a successful retest of the 1.0860 support, marked by the 50.0% Fibonacci retracement. …

US Data on Wednesday came in mixed, including Durable Goods Orders that fell 5.4% in October, exceeding the expected 3.1% decline. On the positive side, the University of Michigan Consumer Sentiment Index stood at 61.3 in November, revised up from the preliminary reading of 60.3. Initial Jobless Claims that retreated …

On Wednesday, stocks experienced a surge following a brief decline in yields to their lowest point in several months, and the market’s rally from November extended into the Thanksgiving holiday. The S&P 500 increased by 0.4%, the Nasdaq Composite advanced by 0.5%, and the Dow Jones Industrial Average gained 178 …

The European Central Bank has warned about rising loan default cases and late payments as signs of stress in the eurozone’s banks. The bank is facing higher funding costs, declining asset quality, and fewer lending volumes, despite increased interest rates boosting revenue and profits. The ECB also warns that slower …

Spot Gold is bidding lower, testing back beneath the $2,000 key handle. The Gold Index (XAU/USD) is trimming back some gains as investors weigh their options post-US data.Gold remains well-bid, but $2,000 is proving to be a challenging level. XAU/USD tipped back into a daily high above the $2,000 mark, …

Interest rates in the Eurozone are close to their peak according to Wednesday’s statements by Bundesbank President Joachim Nagel who also explained that economic data will determine whether more tightening is needed. As for inflation, Nigel mentioned it is on track to move towards the ECB target while speaking at …

The Canadian dollar has hit a new weekly low due to deteriorating market sentiment and falling crude oil prices. The US data has reduced risk appetite and deflated crude oil bids, leading more markets to turn back towards the US dollar. Fresh weekly lows are expected since crude oil markets …

The US dollar is trading in the green territory against major G20 peers, with traders expecting a quick return to normal rate policy. The latest FOMC Minutes revealed that cuts are not in the plan for the upcoming meetings, which dampens market bets that cuts might be very close, even …