Noor Trends News, Technical Analysis, Educational Tools and Recommendations

Oil, Crude, trading

The Canadian dollar achieved the negative targets we expected within the bearish path published during the previous technical analysis, touching the official target at the end of last week’s trading at 1.3550, recording the lowest at 1.3505. Technically, we tend to be negative, relying on the continuation of the negative …

Oil, Crude, trading

US crude oil futures prices witnessed an upward rebound by the end of last week’s trading, building on the strong support floor of 72.60. Technically, with a close look at the 240-minute chart, the price has returned to stability above the simple moving averages that support more rises and is …

The yellow metal’s efforts continued to maintain its attempts to rise, which stopped temporarily due to the negative pressure from the 1987 resistance level, forcing the price to decline temporarily. Technically, the overall bullish trend is still the most likely, relying on the stability of trading above the previously breached …

The single European currency showed movements within a bearish bias due to the clash with the resistance level of 1.0920, which forced the pair to retest 1.0820, which concluded last week’s trading above the mentioned support level. Technically, and looking at the 4-hour chart, we find that the 50-day SMA …

Wall Street rose on Friday, with the Nasdaq index posting its biggest quarterly percentage gain since June 2020, after signs of easing inflation raised hopes that the Federal Reserve would soon end its aggressive campaign to raise interest rates. The Standard & Poor’s 500 Index posted gains for the second …

After Friday’s inflation figures, the US Dollar rose against the Euro, but the American currency was still on course for a weekly loss.Economic DataThe University of Michigan’s consumer confidence index reported a score of 62 points in March, down from the previous reading of 63.4 points, which was lower than …

According to the US Department of Commerce, PCE was lower than expected, which sparked rumours about Fed’s next move. Once several oilfields in the Kurdish area in northern Iraq saw their output decrease, oil prices increased.After reaching a YTD low of $64.41, WTI, the US crude oil benchmark, is expected …

The key factor behind the AUD/decline was the buoyant American dollar. Inflation in the US is still declining, and consumer confidence declined in March. TDS Analyst anticipates that the RBA will maintain rates at their meeting in April. Awaiting the RBA’s decision, the AUD/USD price is muted in the immediate …