The Canadian dollar continues to exhibit positive stability, benefitting from its position above the psychological barrier support level of 1.3500, reaching its highest point at 1.3572. Technical Analysis Perspective: Today’s technical analysis leans towards positivity, hinging on the confirmation of the pair’s breach above the 1.3520 resistance level. Additionally, the …
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US Crude Oil Futures Reach Target Before Facing Resistance US crude oil futures prices surged to achieve the initial upward target as anticipated in the previous technical report, hitting a peak of $78.74 per barrel, surpassing the first milestone at $78.55. Technical Analysis Highlights: During the trading session, oil prices …
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During the previous trading session, gold prices experienced subdued movements, remaining within the anticipated bearish corrective trajectory outlined in the preceding technical report. The precious metal recorded its lowest level at $1984 per ounce. Technical Analysis Insights: Analyzing the 4-hour timeframe chart, gold prices have notably breached a crucial support …
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The Canadian dollar has defied expectations of a downward trend, particularly as trading stabilized above the key resistance level of 1.3520. Previously, we anticipated a halt in the downward trajectory if stability above 1.3520 was achieved, signaling a potential upward movement towards 1.3550 and 1.3590. Today, from a technical standpoint, …
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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 …
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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 …
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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 …
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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 …
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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 …
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In the wake of the preceding technical report, the Canadian dollar grappled with a prevailing downward trend, successfully reaching the initial target at 1.3470. Presently, trading activity hovers around its morning low, settling at 1.3450. Technical Analysis: Negative Momentum Signals Bearish Outlook Today’s technical analysis veers towards negativity, underscored by …
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