Silver Could Still Outshine Gold Over The Near Term | XAU, XAG, Gold/Silver Ratio
The gold silver ratio is paused at a level of resistance for a potential pairs trade, whilst the underlying markets also test pivotal levels. We can see on the daily chart that momentum has remained mostly bearish since the July...
USD/CAD Outlook: Strong Bearish Signal Expected on Close Below Daily Cloud / Fibo Support at 1.3163/55
The pair extends weakness and is on track for close below cracked Fibo support at 1.3155 (Fibo 61.8% of 1.3015/1.3382) and below daily cloud base (1.3163) as bears regain control after Monday’s strong downside rejection and failure to close below...
WTI Oil Outlook: Price Continues To Advance On Optimism Of Extended Production Cut
WTI oil extends advance and holds in green for the fifth straight day, with bulls establishing above $58 mark and posting new six-week high at $58.38 on Tuesday. Fresh optimism on OPEC+ group attempts to extend production cut keeps the...
CRUDE OIL: Price Build Up Targets The 58.79 Resistance Zone
CRUDE OIL price build up targets the 58.79 resistance zone as it retains its strength. Support lies at the 57.50 level where a break will expose the 57.00 level. A cut through here will set the stage for a run...
AUD/USD Outlook: Steep Ascend Extends into Fifth Straight Day and Cracks Important Barriers
The Australian dollar hit five-week high on Monday in extension of last week’s steep rally (the pair gained 1.8% for the week). Bulls were underpinned by hopes of easing tensions in US/China trade conflict and additionally boosted by upbeat Australian...
EUR/USD Analysis: Remains Above 1.1000
During Friday, the EUR/USD currency pair traded sideways at the 1.1040 area. During today’s morning, the pair was testing the support formed by the 100– and 200-hour SMAs, as well the weekly PP at 1.1015. If the given support holds,...
Dow Stalls after Strong Week
The market could use more momentum on approach to July highs The Dow Jones Industrial Average continues to deepen its underperformance relative to the other U.S. blue-chip indices, even as Wall Street shares lose some of the optimistic momentum seen...
USD/CAD Outlook: Loonie Advances Strongly on Upbeat Canada’s and Mixed US Jobs Data
Canadian dollar rose to five-week high against US dollar, boosted by upbeat Canada’s jobs data which showed 81.1K new jobs created in Aug vs 18.9K forecast and negative figure in July (-24.4). Mixed US jobs data, as NFP fell below...
US Adds Only 130,000 Nonfarm Jobs in August
Nonfarm Payrolls were released earlier, and the US added only 130,000 jobs to the economy in August vs the 160,000 expected. July’s numbers were revised slightly lower to 159,000. The Unemployment Rate (MoM) remained unchanged at 3.7% and the Average...
WTI Oil Futures Test the 38.2% Fibonacci Multiple Times
WTI oil futures rallied from a seven-month low on August 7, but the gains were halted at 56.68 and around the 38.2% Fibonacci retracement level of the down wave from 66.57 to 50.58. After multiple failed attempts to close above...
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