Positive trading returned to dominate the Canadian dollar after several consecutive sessions of a strong decline within positive attempts to breach the resistance level at 1.3065. Technically, the simple moving averages started holding the price from the bottom, accompanied by the RSI gaining bullish momentum over the short term. Thus, …

The British Pound succeeded in achieving the positive outlook, as we expected, touching the first target to be achieved at 1.3310, to hit its highest level at 1.3113. Technially, and with a closer look at the 4-hour chart, we find positive crossover signs appearing on the stochastic, supporting the return …

Oil, Crude, trading

The bearish momentum continues to dominate gold’s movements within the expected bearish path, trying to break the bottom mentioned during the previous analysis, located at 1860, to record its lowest level at 1856. technically, the current trading is still stable below the resistance level of 1880, and with a closer …

The euro is showing a negative bias after the single currency failed to stabilize for a long time above the psychological barrier of 1.1800 resistance and is now hovering around the 1.1775 support level. Technically, looking at 240-minutes chart, we find that negative signs have started to appear on the …

Christine Lagarde, President of the European Central Bank, is delivering her remarks at the ECB Forum on Central Banking 2020. “Developments in the exchange rate may have a negative impact on the path of inflation.”“If this second wave of the virus proves to be less intense than the first, it …

Data released by the Mortgage Bankers Association showed that mortgage applications in the United States fell 0.5% in the week ending November 6th.It marked the first drop in three weeks, after an increase of 3.8% in the previous period. The average contract interest rate for 30-year fixed-rate mortgages with conforming …

Oil rose to $45 a barrel during Europen session for the first time in 10 weeks. Where the apparent decline in US crude inventories reinforced the rise in oil prices, which was mainly supported by Pfizer’s vaccine. The American Petroleum Institute (API) reported that crude inventories fell 5.15 million barrels …

Pfizer and BioNTech have reached an agreement with the European Union (EU) to supply the EU with 200 million doses of their coronavirus vaccine, as reported by Reuters. “Agreement provides a supply of 200 million doses and an option to request additional 100 million doses.”“Deliveries anticipated to start by end of 2020, …

Gold rose on Wednesday, November 11th, thanks to a weak dollar as investors study the logistical challenges surrounding the massive production of a potential Covid-19 vaccine in light of the increase in new virus infections, which strengthens the bet on greater economic support. And gold rose in the spot market …