On Wednesday, European stocks reached their lowest levels since mid-June, following a report that France was considering implementing nationwide lockdown measures for a month to combat a rise in coronavirus cases. The pan-European STOXX 600 index fell 1.6%, while the German DAX index tumbled 2.2%, the British FTSE 100 index …
Read More »Turkey’s Economic Confidence Index Rose 4.8% in October
Turkish Statistics Institute data revealed on Wednesday that the Turkish economic confidence index rose 4.8% on a monthly basis in October to 92.8 points, recording a sixth consecutive month after it retreated due to measures to combat the outbreak of the Coronavirus. Economic activity fell sharply in March and April, …
Read More »Nikkei Falls On Coronavirus Fears And US Elections
Japanese stocks fell on Wednesday for a third consecutive session, weighed by concerns related to an increase in coronavirus cases in Europe and the United States, which could further damage the already ailing global economy. Analysts also said that apathy dominated trading, as the US presidential elections kept many investors …
Read More »Oil Prices Fell More 3% Due to Increased Fears of Oversupply
Oil prices retreated on Wednesday, losing most of the gains they made the previous day, as increased US crude stocks and a rise in coronavirus cases in Europe and the United States boosted concerns about oversupply and weak demand for fuel. By 0725 GMT, Brent crude was down $ 40.20 …
Read More »API: Crude And Gasoline Stocks Rose Last Week
Data from the American Petroleum Institute (API) on Tuesday showed that US inventories of crude oil and gasoline increased last week. Crude inventories rose by 4.6 million barrels over the week ending October 23 to about 495.2 million barrels, while analysts’ expectations were for a decline of 1.2 million barrels. …
Read More »Dax Continues to Achieve Bearish Targets
The German DAX was able to touch the required levels mentioned in the previous analysis at 12030, posting a low of 11980. Technically, the price was consolidating below the previously broken support level turned into resistance at 12180, in addition to the continuous pressure from the 50-day moving average. This …
Read More »Dow Jones Settles Below Support
The Dow Jones Industrial Average declined significantly, and we indicated in the previous analysis that trading below 27500 will negate any intraday attempts to rise and push the index towards the downside towards 27265, posting a low at 27175. Technically, we see a consolidation below the support-into-resistance at 27460 with …
Read More »GBP/JPY: Faces Negative Pressure
The pound retreated against the yen during the previous session, after finding a strong resistance level around 136.60. On the technical side, the pair started its early trading with a bearish tendency, as the current moves see stability below 136.45, accompanied by upcoming negative crossover signals on the stochastic indicator. …
Read More »Canadian Dollar Looking For Additional Momentum
The support levels published in the previous analysis at 1.31 capped the bearish tendency, so that the pair managed in retesting the first target. Technically speaking, the current moves are witnessing a bullish slope with the positivity from Stochastic and the RSI indicator stable above the mid-line for short time …
Read More »British Pound Looking For Assurances
We committed to the intraday neutrality during the previous analysis and that we are waiting for a sign of directional confirmation, indicating that the stability of trading above 1.3050 leads the pair to re-test 1.3080, posting high at 1.3080. On the technical side, by looking at the 4-hour chart, we …
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