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Read More »GBP/USD trying to consolidate against the dollar 5/6/2024
Oil, Crude, trading
Read More »Gold is looking for a stronger direction 5/6/2024
The technical landscape for gold remains largely unchanged, with the precious metal holding above the 2318 support level but facing resistance from the 50-day simple moving average. Despite yesterday’s upward movement, the 50-day simple moving average continues to exert downward pressure on the price. Additionally, the Stochastic oscillator is showing …
Read More »EUR/USD retest support 5/6/2024
The EUR/USD pair experienced a downturn in the previous trading session, failing to maintain its position above the key psychological resistance level of 1.0900. However, technical indicators suggest a potential rebound in the upcoming sessions. On the 4-hour chart, the simple moving averages are still providing support for the upward …
Read More »Dollar Recovers After Steep Losses, Euro Dips on Weak German Employment Data
The U.S. dollar rebounded in early European trading on Tuesday, reversing overnight declines. The euro weakened following the release of disappointing German employment figures. At 04:45 ET (08:45 GMT), the Dollar Index, which measures the greenback against a basket of six other currencies, rose 0.1% to 104.165, after briefly falling …
Read More »European Stocks Retreat Amid ECB Caution and US Labor Market Data Anticipation
European stock markets experienced a downturn on Tuesday, driven by investor caution ahead of the European Central Bank’s (ECB) upcoming policy meeting later in the week. As of 03:20 ET (07:20 GMT), the DAX index in Germany declined by 0.6%, the CAC 40 in France fell by the same margin, …
Read More »Asian Markets Dip on India Election Results and U.S. Economic Concerns
Asian share markets experienced a downturn on Tuesday as global investors awaited the official results of India’s general election and assessed the potential weakening of the U.S. economy’s exceptionalism amid further decline in manufacturing activity. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4%, despite mild gains in U.S. …
Read More »Dow Jones Poised for Potential Rebound Amidst Positive Signals 4/6/2024
Oil, Crude, trading
Read More »CAD may witness a negative session 4/6/2024
The Canadian dollar experienced a subdued trading session yesterday, characterized by narrow fluctuations within a broader bearish trend. The currency pair reached a low of 1.3603 against the US dollar. Technical analysis suggests a continuation of this downward momentum. The Stochastic oscillator on the 240-minute timeframe is showing signs of …
Read More »USD/JPY Faces Potential Reversal After Brief Rebound 4/6/2024
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