Gold prices have rebounded, resuming their official upward trajectory and negating the need for the retesting scenario outlined in the previous technical report. The metal settled with its lowest level recorded at $2157 per ounce. Today’s technical analysis, focusing on the 4-hour timeframe chart, indicates continued support from the simple …

The euro continues its gradual ascent against the US dollar, maintaining consistent technical patterns for the third consecutive session. Analyzing the 240-minute timeframe chart, the simple moving averages persist in guiding the price from below, reinforcing the bullish technical structure evident on the chart. With daily trading sustained above the …

Oil prices climbed on Wednesday, driven by expectations of robust global demand, particularly from the United States, the world’s largest crude consumer. Sentiment was further boosted by hopes that the Federal Reserve might initiate interest rate cuts soon, despite challenges in curbing inflation in the United States. Demand-Driven Rally Expectations …

European shares surged to new record highs on Wednesday, buoyed by gains in retail and utility stocks following upbeat corporate announcements. As investors eagerly awaited industrial production data from the region, the pan-European STOXX 600 index rose by 0.1% by 9:13 GMT, building on the momentum from Tuesday’s record-high close. …

Bitcoin surged to a record high for the third time in five days before traders seized the opportunity to capitalize on recent gains. After touching $73,650 during Tuesday’s trading session, the cryptocurrency was pushed below the $70,000 mark. Influx of Funds and ETF Success: The cryptocurrency’s ascent to new heights …

Official data revealed that the UK’s economy rebounded at the onset of 2024, offering a respite for Prime Minister Rishi Sunak ahead of the anticipated elections later this year, following a recession triggered by the mixed performance across sectors in the latter half of 2023. GDP Growth in January: Britain …

Dollar Stability Amid Inflation Surge: The dollar showed signs of stability against major currencies on Wednesday as traders gauged the potential impact of higher-than-expected inflation data on the Federal Reserve’s interest rate decisions slated for June. Surge in US Consumer Price Index: February witnessed a robust rise in the US …

In Wednesday’s trading session, Japan’s Nikkei index extended its losses for the third consecutive day, reflecting investors’ cautious stance as they evaluated the potential implications of the Bank of Japan’s forthcoming monetary policy meeting, on March 18-19. Nikkei’s Decline: The Nikkei index experienced a modest decline of 0.26 percent, closing …

In the previous trading session, the Canadian dollar experienced a limited upward trend, with movements pushing towards a retest of the psychological barrier resistance level of 1.3500, ultimately reaching its peak at 1.3525. From a technical analysis perspective, our outlook tends towards negativity. This is based on the emergence of …

japanese-yen