Gold Weakens Despite The Bullish Picture In Short-Term
Gold has had a bullish tendency in the short-term, climbing to a new six-week high of 1,906 before it slipped below the simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the up leg from 1,764 to 1,906...
Silver Spot: Key Resistance At 25.7500
Pivot (invalidation): 25.7500 Our preference Short positions below 25.7500 with targets at 24.9200 & 24.6700 in extension. Alternative scenario Above 25.7500 look for further upside with 26.0800 & 26.5000 as targets. Comment The RSI is mixed with a bearish bias.
US Equities Mixed On Tuesday, Consumer Confidence Surprisingly Declines
US stocks were mixed on Tuesday, but bears dominated as concerns over the new COVID strain and downbeat economic data offset the optimism surrounding the second stimulus package. The S&P 500 fell 0.21%, the Dow lost 0.67%, while the tech-oriented...
NZDUSD Plummets From 32-Month High, Bullish Outlook Intacts
NZDUSD has come under renewed selling pressure, falling below the 20-day simple moving average (SMA) and remaining well below the 32-month high of 0.7160. Despite the latest pullback though, the pair has been in a long-term ascending tendency since March...
Trading Remains Subdued as Some US Data Awaited
Trading remains rather subdued with markets already in holiday mode. Sterling has the potential to explode with wild moves, but we’re so far disappointed by the lack of progress in Brexit trade negotiations. The surge in cases of the coronavirus,...
Tech bull Paul Meeks predicts another record year, but sounds the alarm on DoorDash and Airbnb
Long-time tech investor Paul Meeks expects 2021 to be another winning year for the Nasdaq. But Meeks, who’s known for running the world’s largest tech fund during the late 1990s, warns two popular names that went public this month won’t...
Pound Retreats on Brexit Impasse
The British pound has lost more ground in the Tuesday session. GBP/USD is currently trading at 1.3356, down 0.79% on the day. Brexit takes sterling on a roller-coaster It’s been a roller-coaster ride for the pound. GBP/USD gained 2.26% last week,...
USDCAD Steadfast Re-targets the 200-MA
USDCAD is headed to retest the 200-period simple moving average (SMA), after finding a foothold on the cloud’s upper surface and the 100-period SMA around 1.2819. The price bounce came after the 200-period SMA curbed the rally, which started from...
Existing home sales decline for the first time in 5 months as prices rise and supply falls
A house for sale on December 17, 2020 in Scituate, Massachusetts. Matt Stone | MediaNews Group | Getty Images After five consecutive months of gains, closed sales of existing homes turned lower in November. They fell 2.5% on a month-to-month...
Euro and Swiss Franc Slightly Firmer in Subdued Trading
It seems that traders are already on holiday with the subdued market activity today. Sterling softens again on reports that EU rejected UK’s latest proposal on fishing rights. Australia and Zealand Dollars also dip mildly. On the other hand, Swiss...
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