After a very busy week, several economic data releases are expected to weigh on the performance of multiple assets and most prominently, the US Dollar Index with the beginning of the new trading week.Oil’s PerformanceWTI crude dropped to $80.70, a decrease of more than 2%. Soft labour market data was …
Read More »Gold poised to post a weekly loss as Dollar gains ground against bullion
The gold market has been seeing some two-way price action of late. After hitting close to $2,000 last month on geopolitical worries, Gold is poised for its first weekly loss in nearly a month as safe-haven demand cools ahead of today’s key US jobs data. Gold edged higher intraday but …
Read More »European stocks are awaiting their best weekly performance since March
The European STOXX 600 index rose on Friday and is heading towards achieving its best weekly performance since March, led by auto stocks, as sentiment was supported by optimism linked to a possible end to the monetary policy tightening cycle in major central banks. The European STOXX 600 index rose …
Read More »Nasdaq Poised for Further Gains 3/11/2023
Oil, Crude, trading
Read More »The Dow Jones Index Maintains its Positive Momentum 3/11/2023
Oil, Crude, trading
Read More »CAD Breaks Key Support Level 3/11/2023
The Canadian dollar has successfully reached the anticipated bearish target outlined in the previous technical report. This forecast was based on the initial pressure observed on the support level of 1.3830, leading to a touchpoint at 1.3775. The currency pair recorded its lowest level at 1.3735 during this movement. Upon …
Read More »USD/JPY Shows Signs of Resuming Downward Correction 3/11/2023
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Read More »GBP Attempts Gradual Ascent 3/11/2023
Oil, Crude, trading
Read More »Oil Loses Momentum 3/11/2023
Limited positive attempts marked the movements of US crude oil futures in the previous trading session, with the price reaching its peak at $82.86 per barrel before retracing back within the anticipated downward trajectory and hitting a low of $82.27. Examining the 4-hour timeframe chart, the 50-day simple moving average …
Read More »The Euro Gains Ground Against the Weakening Dollar 3/11/2023
In our previous technical report, we maintained a neutral stance due to conflicting signals. We emphasized that activating buying positions hinged on the EUR/USD pair breaking the psychological barrier resistance level of 1.0600, targeting 1.0670 and 1.0670, achieving these targets and reaching its peak at 1.068. Technically, today we are …
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