Oil, Crude, trading

Sideways trading tends to be positive, confined from the downside, above the support level of 150.50 and below the resistance level of 151.50. On the technical side, today we tend to the negativity, but with caution, relying on the stability of trading below 151.50, accompanied by the negativity coming from …

The Canadian dollar found a strong resistance near 1.2720, which forced it to trade negatively again, approaching a retest of the pivotal support level 1.2580, to record its lowest level at 1.2600. Technically, and by looking at the 4-hour chart, we find the 50-day moving average starting to pressure the …

Oil, Crude, trading

Oil, Crude, trading

The prices of the yellow metal jumped on Friday, supported by the statements of the Federal Reserve Chairman last Friday, to be able to breach the resistance level of 1799, heading towards touching the previous target mentioned in the previous report, at 1820. Today’s negative view indicates the possibility of …

The euro witnessed positive trading at the end of last week, supported by the decline of the US dollar to end its trading above 1.1770/1.1780. Technically, and carefully considering the 4-hour chart, we find the simple moving averages returned to hold the price from below, supporting the end of the …

In his prepared remarks for delivery at the Jackson Hole Economic Symposium titled “Macroeconomic Policy in an Uneven Economy,” FOMC Chairman Jerome Powell said that there has been clear progress towards full employment and that he believes that if the US economy develops as expected, “it may be appropriate to …

The US Bureau of Economic Analysis (BEA) reported on Friday that Personal Income expanded by 1.1% in July. This reading came in better than the market expectation of 0.2%.  Further details of the report revealed that Personal Spending, which increased by 1.1% in June, rose by 0.3% in the same …

The dollar stabilized as investors awaited a highly anticipated speech by US Federal Reserve Chairman Jerome Powell, while analysts now doubt that the central bank chief will hint at a possible date to start reducing asset purchases. The focus of the market this week is on the signals that the …