Oil Slips 3.2% On Fears Of Inventory Build Up
Crude oil prices posted sharp declines on Thursday as the price of WTI crude oil settled at 61.56. The declines in oil prices come as at the EIA’s weekly inventory report showed an increase in inventories. The declines marked a...
USD/JPY Range Bound Below Key 112.00 Resistance
Key Highlights The US Dollar failed to hold gains above 112.20 and declined recently against the Japanese Yen. A crucial bearish trend line in place with resistance near 111.85 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims...
USD/CAD Resumes Bullish Trend on Fed, Oil Drop
The USD/CAD could be on the verge of another move higher. Not only has the US dollar resumed its bullish trend following the FOMC meeting last night, but the price of crude oil has been falling in recent days, eroding...
BTCUSD Surpasses Ichimoku Cloud; Indicators Signal Bullish Bias
BTCUSD is hovering above the Ichimoku cloud and the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, which are ready to post a bullish cross in the next few sessions. The price found strong support near the 23.6%...
USDJPY Backs Off Lower Prices With Eyes 112.03 Zone
USDJPY backs off lower prices with eyes on 112.03 zone following its price halt. On the upside, resistance comes in at 112.50 level. Above this level will turn attention to the 113.00 level. Further out, we expect a possible move...
USDJPY Under Descending Line, Bias Neutral-To-Bullish
USDJPY met heavy resistance from the soft descending line drawn from the 114.54 top last week, ending bullish action at a four-month high of 112.39. The pair is currently fluctuating around its 200-day simple moving average (SMA), with momentum indicators...
Market Morning Briefing: The Aussie Trades Above Support At 0.70
STOCKS The US Federal Reserve cited that the rates could either way while the market seems to have weighed more for a “no rate cut” going forward. As a result some profits have been taken-off from the US equities overnight....
WTI OIL Outlook: Oil Price Holds Positive Tone ahead of Crude Inventories Report
WTI oil price holds steady on Wednesday, following strong upside rejection on Tuesday and subsequent fall that was accelerated by strong build in US crude stocks (API report showed 6.8 mln bls build vs expected rise of 1.5 mln bls)....
GBPUSD Faces Further Price Recovery Higher On Correction
GBPUSD faces further price recovery higher on correction. Support lies at 1.3000 as it look for more weakness. Below that level will open the door for more decline towards 1.2950 level. Further down, support comes in at the 1.2900 level...
GBP/USD Approaches Resistance ahead of Key Events
Earlier, we wrote that the GBP/USD will be facing a key test this week ahead of the Federal Reserve’s rate decision this evening, the Bank of England’s Super Thursday tomorrow and the US monthly jobs on Friday. From a technical...
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