The Canadian dollar found a solid support floor around 1.2600, to start the bullish rebound, trying to surpass 1.2680 resistance. Technically speaking, we tend to be positive, relying on building a base on the aforementioned support floor, in addition to the clear positive signs on the RSI and its stability …
Read More »Pound Hits Resistance and Negativity in Sight
Oil, Crude, trading
Read More »Oil Facing Selling Pressure
Oil, Crude, trading
Read More »Gold Trying to Recover And Looking For Momentum
Gold prices found a solid support floor around 1691, which forced the price to rebound to retest the 1720 resistance level. Technically speaking, and with the price succeeding in building a base on the support floor of 1691 represented by the 61.80% Fibonacci correction, as shown on the chart, in …
Read More »Euro Hovering Around Resistance And Positivity Needs Confirmation
The euro made positive trades against the US dollar during the previous trading session, recording its highest level at 1.1915. On the technical side today, we find the euro now hovering around a strong resistance level of 1.1880 / 1.1885, trying to stabilize it above, and with a closer look …
Read More »Total CEO Expects $50-60 Per Barrel of Oil
The CEO of Total said that the global economic recovery from the Coronavirus pandemic may take two years, ruling out that oil prices will remain at their current high level of $70 a barrel. Patrick Boyan told local media, “I am not betting that prices remain at $70 a barrel. …
Read More »WTI Climbs to $69 After Monday’s Correction
Crude oil prices witnessed a deeper correction at the beginning of the week, and a barrel of West Texas Intermediate crude lost 2.4% on Monday after rising more than 7% last week. WTI reversed its trend, rising 2% to $65.85. OPEC’s decision last week to keep production cuts through April …
Read More »Bitcoin And Ethereum Close to Historical Peaks
The largest cryptocurrency by market value, Bitcoin, has surpassed the 54 levels during early trading from Tuesday’s session. While Ethereum, the second-largest cryptocurrency by market value, managed to record a remarkable performance after surpassing $1800 levels. The sharp rise in the prices of Bitcoin and Ethereum came after the two …
Read More »Euro area Annual GDP Contracts by 4.9% in Q4 vs. -5% Expected
The Gross Domestic Product (GDP) in the Euroarea contracted by 4.9% on a yearly basis in Q4, the data published by Eurostat showed on Tuesday. This reading came in slightly better than the flash estimate and the market expectation of -5%. On a quarterly basis, the GDP declined by 0.7%.
Read More »Currencies Overview: USD Down From Its Three-And-a-Half-Month High as Bond Yields Stabilize
The dollar fell from its highest in three and a half months today, Tuesday, as US Treasury yields stabilized, allowing gains for riskier currencies such as the British pound and the Australian and New Zealand dollars. The index measuring the strength of the dollar against a basket of other currencies …
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