A strong rise for the Canadian dollar within its highest levels in several years, attacking the 1.3800 level, recording the highest 1.3810, after establishing good support around 1.3620. Technically, and by looking at the 4-hour chart, we notice the overbought signs that started to appear on the stochastic indicator and …
Read More »GBP remains unstable 27/9/2022
Oil, Crude, trading
Read More »Oil continues to slide 27/9/2022
US crude oil futures prices declined, recording $76.30 per barrel within the strong selling wave that the markets were exposed to at the end of last week’s trading. Technically, trading stability below 78.00 supports the possibility of a drop, in addition to the negative crossover of the simple moving averages …
Read More »Euro is testing resistance, negativity remains 27/9/2022
The general bearish directional movement still dominates the movements of Euro against USD within weak bullish attempts that targeted a retest of 0.9700, and it returns to trading negatively again. On the technical side, with a closer look at the 240-minute chart, we find that the negative crossover of the …
Read More »Japan’s forex intervention estimated at $25 billion – Reuters
Citing calculations made by Tokyo money market brokerage firms, Reuters reported on Monday that Japan’s intervention in the foreign exchange market on September 22 is estimated to be around 3.6 trillion yen ($25 billion). Japan’s Ministry of Finance is expected to unveil the amount spent during the intervention on Friday. …
Read More »European Stoxx 600 index falls, Italian shares rise
The pan-European STOXX 600 index fell for the third consecutive session on Monday on fears of an economic slowdown. However, Italian stocks gained after the victory of the right-wing coalition led by Georgia Meloni in the country’s general elections. The index fell 0.3 percent by 0713 GMT, extending its losses …
Read More »Japanese stocks close lower as recession fears escalate
Japanese stocks closed lower on Monday as investors returned from a long weekend to markets affected by the Japanese authorities’ intervention to support the currency, the collapse of the British pound and increasing recession fears. The Nikkei index fell at close 2.66 percent to 26431.55 points, after falling to 26,424.60, …
Read More »European shares continue to decline
European shares fell at the open on Friday after major central bank actions during the week, including signals from the Federal Reserve that it will continue to raise interest rates, while Credit Suisse shares fell after asking for money from investors. The pan-European Stoxx 600 index was down 0.2 percent …
Read More »Dow Jones is waiting for confirmation of breaking 30,000 to continue the descending wave 23/9/2022
Oil, Crude, trading
Read More »CAD re-tested support 23/9/2022
The Canadian dollar continues its attempts to maintain the bullish path after it retested the strong support floor located at 1.3400, forcing it to rebound to the upside once again within the expected bullish context. From the technical analysis point of view, we tend to rise cautiously, relying on the …
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