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Oil, Crude, trading
Read More »Dow Jones is under selling pressure 8/3/2023
CAD breaks resistance and positivity remains 8/3/2023
The Canadian dollar returned to achieving gains after it ended the bearish slope and succeeded in building on the strong support floor of 1.3630, explaining that the price’s consolidation above 1.3630 completely invalidates the activation of the bearish scenario. The pair recovers, waiting for 1.3670 and 1.3700, respectively, to record …
Read More »GBP incurred great losses 8/3/2023
Oil, Crude, trading
Read More »Oil breaks support 8/3/2023
Negative movements dominated the prices of US crude oil futures contracts, after colliding with the resistance level of 80.90, in addition to the failure of oil to maintain positive stability above the broken support of 79.50. Technically, we tend to be negative in our trading, relying on breaking the support …
Read More »Gold surrenders to the strength of USD 8/3/2023
The yellow metal gave up its recent gains as a result of the rise of its American rival after Jerome Powell, Chairman of the Federal Reserve, testified yesterday before the Senate in the semi-annual testimony, to lead gold to resume the bearish corrective path after it succeeded in breaking 1838, …
Read More »Euro is giving up gains to USD 8/3/2023
The EURUSD pair declined significantly yesterday, affected by the positivity of the US dollar, after Jerome Powell’s testimony before Congress, nullifying the expected bullish path. As a reminder, we indicated that closing an hourly candlestick below 1.0640 leads the euro-dollar pair to the bearish path again, with targets starting at …
Read More »Dow Jones maintains gains and eyes on the Powell 7/3/2023
Oil, Crude, trading
Read More »CAD is facing negative pressure 7/3/2023
The Canadian dollar showed some bearish bias due to the rise in US crude oil prices, finding a strong resistance around 1.3630, which constitutes an obstacle to the continuation of the increase. From the point of view of technical analysis today, the stochastic indicator started to lose its bullish momentum …
Read More »GBP breached the descending channel resistance 7/3/2023
Oil, Crude, trading
Read More »Oil extends its gains 7/3/2023
US crude oil futures prices jumped to achieve significant gains with the early trading of the current session, recording a high of $80.90 per barrel. Technically, by looking at the 240-minute chart, we find that the 14-day momentum indicator continues to defend the bullish trend, stimulated by the price’s stability …
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