Strong rises were witnessed in the prices of US crude oil futures contracts, to start its first weekly dealings on a rising price gap under the influence of the OPEC decision, to record its highest level of $81.50 per barrel. Technically, By looking closely at the 240-minute chart, we find …
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Gold prices failed to break the pivotal support floor published during the previous analysis at 1960, explaining that it represents the key to protecting the official bullish trend, returning to the bullish rebound towards 1990, to end its daily dealings above the support mentioned above. Technically, the overall bullish trend …
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The Euro tried to maintain the main bullish trend during the first trading of this week, explaining during the previous report that the price remaining above 1.0800 stimulates the price to retest 1.0920, recording its highest level at 1.0925. Technically, the Euro has stabilised above the 50-day simple moving average, …
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On Monday, OPEC+ surprised the markets by substantially raising crude oil prices, yet Wall Street continued to advance. The regular suspects will once again be the focus on Tuesday. The Reserve Bank of Australia (RBA) will hold its monetary policy meeting, while the Eurozone’s February Producer Price Index will provide …
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According to US Treasury Secretary Janet Yellen, on Monday, “A surprise OPEC+ oil production cut is an ‘unconstructive act’ that will add uncertainty to the global growth outlook and to burdens on consumers at a time of high inflation,” “I think it’s a regrettable action that OPEC decided to take. …
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With a positive start to the important week, the GBP/USD pair continues to climb. OPEC+ decision, despite driving up oil prices, fails to support the US dollar. The two appear to dismiss criticism of Brexit, pessimistic UK inflation projections, and a strong US dollar.Weaker US data, rates, and declining hawkish …
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The bearish pennant on the AUD/USD is still active. The pair rose to a 4-week high of 0.67585 as the US dollar fell on Monday, giving up gains made after unexpected cuts to OPEC+ oil supply. According to US data, manufacturing and construction spending decreased, and the US economy continued …
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The West Texas Intermediate remains above the gap in bullish territory. The OPEC+ cartel shocked the market by reducing output by 1.1 million barrels per day in order to stabilize prices.West Texas Intermediate WTI crude oil increased 6.3% on Monday and is currently trading at $80.44. The day’s high was …
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With the beginning of the new trading week’s Asian trading session, the price of bitcoin is not displaying any strong momentum. If BTC loses its crucial support level at $26,555, the current consolidation will develop into a selling frenzy.The bearish thesis would be refuted if the psychological threshold of $30,000 …
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As the US economy tightened, the S&P Global and ISN Manufacturing PMIs dipped into the recessionary range. Following weak US manufacturing data, the yields on US Treasury bonds and the Dollar both plunge.After reaching a daily high of 0.9196, the USD/CHF fell by 0.17% due to lower-than-expected inflation in Switzerland. …
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