Daily Technical Analysis

The Bank of Canada (BoC) is expected to deliver a major policy shift on Wednesday by cutting its key interest rate by 50 basis points, in response to mounting concerns about inflation, sluggish economic growth, and softening labor markets. Economists widely anticipate this will mark the central bank’s first outsized …

Oil, Crude, trading

japanese-yen

Oil, Crude, trading

US crude oil futures have successfully reached the first downward target at $69.65 per barrel, recording a low of $69.45. Technical Outlook: Today’s analysis suggests the potential for the downtrend to continue, with the bearish double top pattern on the 4-hour chart maintaining its negative influence. The downward pressure is …

Gold prices reached a new record high of $2712 per ounce, aligning with the upward momentum highlighted in the previous analysis. The breach of the 2685 level led to the anticipated new highs of 2691 and 2700. Technical Outlook:The technical indicators suggest continued bullish momentum, with the simple moving averages …

The EUR/USD pair continued its decline as expected, marking the longest series of daily losses in a year. Technical Analysis: Today’s analysis suggests that the pair is likely to maintain its downward trajectory, supported by negative pressure from the simple moving averages and the formation of a bearish double top …

Oil, Crude, trading

japanese-yen

Oil, Crude, trading