We adhered to intraday neutrality during the previous technical report due to conflicting technical signals, explaining that we are waiting for the confirmation of the breach of the 1929 resistance or the breach of the 1913 support. Gold prices found strong resistance around 1929, which forced the price to trade …
Read More »CAD trying to get rid of negativity 8/9/2023
The technical outlook is unchanged, and the pair’s movements did not change significantly, maintaining positive stability and recording its highest level near the psychological barrier of 1.3700. Technically, and by looking closely at the 4-hour chart, we find that the pair established a good support base around the psychological barrier …
Read More »Oil may complete the retest scenario 8/9/2023
US crude oil futures prices witnessed a negative trading session within the expected bearish path within the idea of the required retest, touching the target of retesting support at 86.20, recording its lowest level during early trading in today’s session at 86.24. Technically, by looking at the 4-hour chart, we …
Read More »Gold is looking for a stronger trend 8/9/2023
Gold movements are witnessing attempts to rise marginally, benefiting from the positive stability above the 1915 support level, and the price is now hovering around its highest level during the morning trading of today’s session at $1926 per ounce. Technically, and with a closer look at the 240-minute time frame …
Read More »CAD maintains gains 7/9/2023
The Canadian dollar maintained positive stability for the second session in a row, touching the first upward target achieved during the previous trading session at 1.3680, recording its highest level of 1.3678. Technically, and with a closer look at the 4-hour time frame chart, we find that the pair established …
Read More »Oil retests support 7/9/2023
For the second session in a row, US crude oil futures prices found a strong resistance level around 88.00, which formed a negative pressure factor on the oil price to conclude yesterday’s trading around $87.55 per barrel. Technically, the simple moving averages do not support the daily upward curve of …
Read More »Gold is approaching the official target 7/9/2023
Gold prices continue due to the rise in the US dollar, heading towards touching the first target expected to be achieved during the previous technical report at 1920, approaching by a few points from the official station of 1913, only to record the lowest of $1,915 per ounce. Technically, by …
Read More »CAD continues to gradually rise 6/9/2023
Positive trading dominated the movements of the Canadian dollar yesterday within the bullish context expected during the previous technical report, touching the target of 1.3660, recording its highest level of 1.3670. Technically, and with a closer look at the 4-hour time frame chart, we find that the pair established a …
Read More »Oil achieves strong gains 6/9/2023
A noticeable surge in the prices of US crude oil futures contracts within the expected upward path, in which we relied on trading stability above the psychological barrier support floor of 85.00, touching the official target for yesterday’s session at 87.75, recording its highest level of $88.00 per barrel. Technically, …
Read More »Gold continues to decline against the dollar 6/9/2023
Gold prices declined during the previous trading session within the negative outlook expected in the last report, touching the first official target of 1929, recording its lowest level of $1924 per ounce. Technically, by looking at the 240-minute time frame chart, we find that the simple moving averages continue to …
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