Daily Technical Analysis

japanese-yen

Oil, Crude, trading

US crude oil futures maintained a positive trajectory in the previous technical report, reaching the target price of $78.10 and hitting a high of $78.44 per barrel. Technically, the outlook remains optimistic, with the price receiving consistent support from simple moving averages, contributing to an upward trend. Additionally, positive signals …

Gold prices experienced significant losses in the previous trading session, reflecting the anticipated upward trend. However, the rise of the US dollar following inflation data spurred a downward trend, with gold bearing the brunt. From a technical standpoint, previous reports this month highlighted the importance of maintaining trading above the …

Yesterday’s trading session witnessed a mixed performance for the EUR/USD pair, with initial attempts to rally against the US dollar, reaching its highest point near the psychological barrier at 1.0800. However, the pair swiftly reversed course into a downward trend following the release of strong US inflation data, which bolstered …

Encountering Strong Resistance The Canadian dollar experienced negative trading in the initial sessions of the week, encountering robust resistance around 1.3480. Technical Indicators Signal Negativity Today’s technical analysis leans towards negativity, as evidenced by the negative intersection of simple moving averages pressuring the price from above. Additionally, the 14-day momentum …

japanese-yen

Oil, Crude, trading

Record Highs and Technical Optimism In the previous trading session, US crude oil futures soared, reaching a peak of $77.08 per barrel. Technically, a positive outlook prevails, supported by consistent movement within an ascending price channel depicted on the 4-hour chart, alongside encouraging signals from the simple moving averages. Preferred …

Resilience Above Support Despite previous attempts to break the main 2016 support level, gold showcased resilience in the recent trading session, stabilizing above the critical threshold. Technical Insights Examining the 4-hour timeframe chart, the price is consolidating above the 2016 38.20% Fibonacci retracement, with the Stochastic indicator indicating potential upward …