WTI Oil Outlook: Oil Consolidates Under New 2019 High, Bullish Bias Remains Intact Above 100SMA
WTI oil regained traction and probes back above $57 handle on Friday, following bearish close on Thursday (the first close in red after six straight bullish days), when the price came under pressure from stronger than expected build in crude...
USD/JPY Outlook: Bulls Struggle At 111 Zone But 200SMA Barrier Is Still In Focus
The pair holds within a narrow range on Friday, extending directionless mode into third straight day. Bulls struggle at 111 resistance zone, which guards more significant 200SMA (111.30), break of which would generate bullish signal for continuation of recovery leg...
AUD/USD Remains Near 200-Hour SMA
The 200-hour simple moving average, located at the 0.7120 regions restricted the Australian Dollar from regaining some of its lost positions against the US Dollar on Thursday. Currently, the exchange rate is trading near the resistance level formed by the...
USD/CAD Likely To Decline
The US Dollar appreciated about 78 base points against the Canadian Dollar on Thursday. The surged was stopped by a resistance level formed by the 200-hour simple moving average at 1.3238. As for the near future, it is likely that...
NZD/USD Bounces Off Support Level
The New Zealand Dollar depreciated about 118 base points against the US Dollar on Thursday. The currency pair revealed a new junior descending channel pattern during yesterday’s trading session. The exchange rate bounced off the bottom border of the channel...
EUR/USD Is Supported By 100-Hour SMA
On Friday, the European Single Currency was trading between the 55-hour and the 100-hour simple moving average at the 1,1340 mark. In regards to the near-term future, most likely, the 100-hour simple moving average will support the rate to push...
GBP/USD Surges To 1,3100
During the previous trading session, the rate passed through the 55-hour simple moving average to end the trading session at the 1,3000 as it was expected. On Friday morning, the British Pound was trading between the 55-hour and the 100-hour...
USD/JPY Will Squeeze To Break-Out
During the previous trading session, the currency exchange rate was trading sideways below the 61,80% Fibo at 110.60. On Friday morning, the rate was located at the 110.87 mark. In regards to the near-term future, most likely, the US Dollar...
Gold ETFs Reducing Their Holdings
Fundamental Analysis Looking at the ETF data, SPDR gold shares, the biggest-metals ETF, it becomes clear that the demand is still somewhat weak because the holdings of gold have gone down by 160,614 ounces. However, investors are increasing their holdings...
The U.S. Economy Cooling As An Incentive For Trade Negotiations
Weak U.S. data cooling markets Trump chose not a good time for trade disputes, as the economy cyclical slowdown after 10 years of growth and tax incentives worsen trading conditions. The United States economic statistics published on Thursday disappointed market...
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