Negative moves dominate the Dow Jones Industrial Average after it encountered a strong resistance near 29200. Technically, the current movements are witnessing a bearish bias as a result of trading stability below 29220/29215 with negative signs on the RSI indicator on short time frames. Therefore, there is a possibility that …
Read More »GBP/JPY Faces Negative Pressure
The British Pound fell against the Japanese Yen significantly as we expected, surpassing the second target mentioned in the previous analysis at 138.00, and reached a low of 137.54. Technically, we tend to be negative, given that trading is stable below 138.30 / 138.20 with negative pressure coming from the …
Read More »Canadian Dollar Continues to Rising
The Canadian dollar was able to achieve the second target to be touched at 1.3130, to hit a high of 1.3170 during early trading for the session. Technically, the pair was able to surpass 1.3065 resistance and consolidate above, which turned into a support level, in addition to the positive …
Read More »GBP Reversing The Intraday Trend
The British pound reversed the bullish trend yesterday to negate the positive outlook as we expected and touch the stop-loss order mentioned in the previous analysis at 1.3160, we have indicated that breaking the 1.3160 support level will completely negate the bullish scenario, turning towards the negativity with the first …
Read More »Oil: The Negativity Persists
Oil, Crude, trading
Read More »Gold: Waiting For New Signals
The movements of the yellow metal witnessed positive attempts during the previous trading session and are still limited, targeting a re-test of the 1882 resistance level. Technically, we notice a contradiction between the technical signals, and by looking at the short time intervals, we find that the RSI indicator is …
Read More »Euro Based on Support
The European single currency continues attempts to maintain positive stability against the US dollar and is able to settle above the strong support floor of 1.1720, Fib 23.60%, which is considered the key to protecting the upside. Technically, looking at the 4-hour chart, we find that the simple moving average …
Read More »CureVac Planning to Produce 300-400 Million Vaccine Doses in 2021
German biotech CureVac’s CEO, Franz-Werner Haas, said on Thursday that they are planning to produce 300-400 million doses of their coronavirus vaccine in 2021, as reported by Reuters.
Read More »US: CPI Declines to 1.6% in October
Inflation in the US, as measured by the Consumer Price Index (CPI), was 0% in October, the report published by the US Bureau of Labor Statistics showed on Thursday. On a yearly basis, the CPI declined to 1.2% from 1.4% in September. Further details of the publication revealed that the …
Read More »US: Weekly Initial Jobless Claims Fall to 709K
There were 709,000 initial claims for unemployment benefits in the US during the week ending November 7th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 757,000 (revised from 751,000) and came in better than the market expectation of …
Read More »