WTI Futures’ Rally Stalls Above 77 Mark
WTI oil futures have stretched towards 77.35 and are sitting above the 50-day simple moving average (SMA) at 75.71 after an upward surge from around the 66.00 mark. The positive incline in the SMAs has faded recently. However, they have...
Oil Rises Slightly, Gold Falls But Recovers
Oil edges higher Oil prices edged higher overnight thanks to larger than expected falls in US crude and gasoline inventories and receding virus nerves. Brent crude tested USD 80.00 a barrel intraday but finished the session 0.25% higher at USD...
AUDUSD Downside Risks Linger Despite Latest Climb
AUDUSD buyers are in the process of trying to extend the ascent from the 13-month low of 0.6992 beyond the falling 50- and 100-day simple moving averages (SMAs). Nevertheless, the bearish SMAs are demonstrating that the directional trend remains skewed...
US Oil Seeks Support
WTI crude rallied after the EIA report showed a larger-than-expected fall in US inventories. The bulls are looking to hold onto their recent gains after they cleared the 30-day moving average and daily resistance at 73.20. 79.00 from November’s sharp...
GER 40 Breaks Above Daily Resistance
The Dax 40 climbed higher as investors favor value stocks in telecoms, transportation, and utilities. A break above December’s high at 15840 is a strong signal that the bulls may have had the last word. Trend followers would jump in,...
GBP/USD Consolidates Gains
Growing risk appetite weighs on a safer US dollar. The rally above 1.3360 confirms that short-term sentiment has turned around. However, the push might have run out of steam as the RSI shows a bearish divergence. The deceleration indicates limited...
Yen Selloff Continues as DOW Hit Record, Yields Jumped
Selloff in Yen continued as DOW was pushed to new record by risk-on sentiment, while US benchmark treasury yield also jumped. Dollar is also under some pressure together with Canadian and Euro. On the other hand, Sterling continues to be...
Elliott Wave View: AUD/USD Approaching Inflection Area
Elliott wave view in AUDUSD suggests the decline from February 25, 2021 high is unfolding as a double three Elliott Wave structure. Down from February 25 high, wave ((W)) ended at 0.7106 and rally in wave ((X)) ended at 0.756....
USD/CAD Could Resume Upside Unless 1.2765 Fails
Key Highlights USD/CAD started a downside correction from the 1.2965 zone. A major bearish trend line is forming with resistance near 1.2820 on the 4-hours chart. EUR/USD is facing a major hurdle near the 1.1350 resistance zone. Gold price failed...
US Dollar Slammed Into London Fix. What Next For EUR/USD And GBP/USD?
The US Dollar Index (DXY) was hit heading into the London fix. Although many large trading firms and hedge funds closed shop for the year, there are still some left trading. There are also pension funds that need to mark...
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