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Category: Technical analysis of Forex market

EURCHF’s Upside Looks Bleak as Seller’s Lead

EURCHF has plunged back below the simple moving averages (SMAs) after positive price action was halted around the 1.0763-1.0771 resistance band. The bearish bearing of the SMAs is backing the pair’s negative trajectory. The short-term oscillators are also signalling that downside pressures are growing. The MACD, in the positive section, is dipping and has neared …

EURCHF’s Upside Looks Bleak as Seller’s LeadRead More

US 500 Index Returns to Gains; More Bullish Outlook is Expected

The US 500 (Cash) index has strongly rebounded off the 4,270 barrier and the momentum indicators now suggest that the market sentiment is back to bullish as the MACD is entering the positive region, holding above its trigger line. Also, the RSI is pointing northwards above the 50 level and the price has surpassed the upper boundary of the Ichimoku cloud, …

US 500 Index Returns to Gains; More Bullish Outlook is ExpectedRead More

WTI Rises for the Seventh Straight Week on Energy Crunch, Fears of Supply Shortage

The WTI oil price extends advance into seventh straight week, hitting new highest since October 2014 on Monday, extension of last week’s 3.6% advance. Strong recovery in global oil demand on easing Covid restrictions and increased consumption on energy crunch that prompted a massive gas to oil switch for power generation, as gas prices skyrocketed. …

WTI Rises for the Seventh Straight Week on Energy Crunch, Fears of Supply ShortageRead More

EUR/USD Might Continue To Struggle Near 1.1650

Key Highlights EUR/USD is attempting a recovery wave from the 1.1525 zone. It broke a key bearish trend line with resistance near 1.1550 on the 4-hours chart. GBP/USD is eyeing an upside break above the 1.3750 resistance. USD/JPY extended its rally above the 114.00 resistance. EUR/USD Technical Analysis The Euro extended its decline below 1.1600 …

EUR/USD Might Continue To Struggle Near 1.1650Read More

Retail Sales Recap: American Consumer is Alive and Well

US Retail Sales for September MoM increased by 0.7% vs an expectation of -0.2%.  August’s print was also revised higher from 0.7% to 0.9%.  It appears Americans haven’t been affected yet by any increasing costs due to supply chain issues.  Retail sales ex-autos MoM for September were up 0.8% vs an expectation of 0.5% and …

Retail Sales Recap: American Consumer is Alive and WellRead More

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