WTI crude oil futures prices continue their upward trajectory, approaching our previously identified target of 81.30 and reaching a high of $81.13 per barrel. Technical Outlook: While the intraday movement shows some consolidation below 81.00, the overall trend remains bullish. The Stochastic indicator on the 4-hour chart is hinting at …
Read More »EUR/USD: Bearish Bias Persists Amid Narrow Trading 20/6/2024
The EUR/USD pair experienced narrow sideways movement during the previous session, reflecting the subdued trading activity due to the U.S. market holiday. The overall bearish context remains intact. Technical Outlook: On the 4-hour chart, the 50-day simple moving average (SMA) continues to act as a significant barrier around the 1.0760 …
Read More »European Stocks Ease Despite UK Inflation Hitting Target; Nvidia Takes Crown as Most Valuable Company
European stock markets experienced a slight decline on Wednesday, even as UK inflation returned to the Bank of England’s target, with trading activity subdued due to a U.S. holiday. The DAX index in Germany dipped 0.2%, the CAC 40 in France also fell 0.2%, and the FTSE 100 in the …
Read More »Dow Jones: Cautious Optimism Amidst Upward TrendCautionary Negative Outlook 19/6/2024
Oil, Crude, trading
Read More »USD/CAD: Bearish Bias Dominates Amid Downward Pressure 19/6/2024
The USD/CAD pair is experiencing a downward trend, primarily due to the collision with the 1.3760 resistance level, which has capped recent gains and limited the upward momentum. Technical Outlook: Technical analysis suggests a prevailing bearish bias. This is supported by the negative crossover of the simple moving averages, which …
Read More »USD/JPY: Calm Trading Upholds Bullish Momentum 19/6/2024
japanese-yen
Read More »GBP/USD: Cautious Optimism as GBP Attempts to Break Resistance 19/6/2024
Oil, Crude, trading
Read More »WTI: Bullish Momentum Strengthens, Eyes on $80 19/6/2024
WTI crude oil futures prices are on the rise, targeting the $80.00 per barrel threshold. Technical Outlook: Our analysis remains bullish, bolstered by the price finding support above the critical 79.65 level and the continued positive momentum provided by the simple moving averages. Upward Potential: The upward trend appears poised …
Read More »EUR/USD: Downward Pressure Persists Despite Positive Attempts 19/6/2024
The EUR/USD pair showed positive movements at the end of last week, but the upside remains limited as the pair failed to break above the 1.0760 resistance level. Technical Outlook: On the 4-hour chart, the 50-day simple moving average (SMA) continues to act as a significant barrier around the 1.0760 …
Read More »Forex Overview: Dollar Firms Ahead of Retail Sales Data and Fed Speeches
The U.S. dollar gained ground on Tuesday, buoyed by anticipation of key retail sales data and speeches from Federal Reserve officials. Traders sought insights to better understand the potential timing and pace of future interest rate cuts. The Dollar Index, measuring the greenback against a basket of major currencies, rose …
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