Yesterday, the Canadian dollar experienced a predominant downward trend, consistent with the negative outlook anticipated in the previous technical report. The price reached the first target at 1.3695, hitting a low of 1.3687. From a technical analysis perspective today, focusing on the 240-minute timeframe, a bearish technical pattern emerges, reinforcing …
Read More »Oil facing negative pressure 23/4/2024
During the previous trading session, US crude oil futures contracts experienced negative pressure, aligning with the bearish context anticipated in the preceding technical report. The prices touched the first target at $80.40, reaching a low of $80.47 per barrel. From a technical standpoint, the price remains stable below the 50-day …
Read More »Gold touching the desired targets and negativity remains 23/4/2024
Gold prices experienced significant losses in the previous trading session, aligning with the corrective decline anticipated in the preceding technical report. The prices reached the specified targets at 2325, hitting a low of $2295 per ounce. From a technical analysis perspective today, a detailed examination of the 4-hour timeframe chart …
Read More »CAD forming a bearish pattern 22/4/2024
The Canadian dollar remains under the influence of a persistent downward trend, which gained momentum following the breach of the significant support level at 1.3760. Currently, the pair is stabilizing around its lowest level near 1.3725. Examining the technical analysis on the 4-hour timeframe today, we observe a bearish technical …
Read More »Oil begins a downward correction 22/4/2024
US crude oil futures contracts experienced a notable decline following the retracement of recent gains, retreating from the pinnacle of 85.58 reached during last Friday’s trading session. As today’s trading commenced, the price hit its lowest point, settling at $81.18 per barrel at the time of compiling this technical report. …
Read More »Gold may face a downward correction 22/4/2024
Gold prices commenced the first trading session of last week with a pronounced bearish sentiment, slipping below the significant threshold of $2400 per ounce. At the time of drafting this report, prices had dipped to approximately 2361 during the morning session. Technically, on today’s 4-hour chart analysis, we observe gold …
Read More »CAD below the psychological barrier 29/3/2024
The Canadian dollar encountered resistance at the psychological barrier of 1.3600, a level that has historically provided stability and recently led to negative trading momentum, with the pair currently hovering around 1.3550. In terms of technical analysis today, our inclination leans towards a bearish outlook, albeit cautiously, as we observe …
Read More »Oil is getting positive signals 29/3/2024
US crude oil futures prices surged, marking significant gains and making a decisive push towards the psychological resistance barrier of $83.00, reaching a peak of $83.17 per barrel. Technically, our trading outlook remains optimistic, with the simple moving averages providing positive reinforcement and buoyed by encouraging signals from the 14-day …
Read More »Gold continues to hit record highs 29/3/2024
Gold prices continue their ascent, reaching historic peaks at $2236 per ounce in the previous trading session, surpassing the previous record of $2224. From a technical perspective, today’s movements show stability above the resistance level of 2222, with the simple moving averages providing support for the daily upward price trend. …
Read More »CAD maintains the upward trajectory 22/3/2024
Positive momentum continued to drive the movements of the Canadian dollar, with the currency reaching its peak at 1.3565 after breaking through the psychological resistance level of 1.3500 and establishing stability above it. In terms of technical analysis today, we maintain a bullish outlook, supported by the currency’s ability to …
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