Brent Looks Weaker Than Usual
Oil is starting a new November weak with a decline. Brent is trading at $81.60 and looking rather weak so far. The latest statistics from Baker Hughes showed that the Oil Rig Count added 4 units over the week and...
GOLD Tests 1,870.00 Level
During Monday’s Asian trading hours, the price for gold reached above the November 10 high level, as the price touched the 1,870.00 level’s resistance. However, afterwards, the price retraced back down, before appearing to start another attempt to pass the...
EUR/USD Turns Red Below 1.1520, Upsides Limited
Key Highlights EUR/USD extended decline below 1.1520 and 1.1500. A major bearish trend line is forming with resistance near 1.1525 on the 4-hours chart. GBP/USD also extended decline below the key 1.3500 support. Gold price rallied above the $1,835 and...
Gold and Silver Running into Resistance. Time for a Correction?
To steal a quote from Christine Lagarde, markets this week seem to have been focused in 3 things: “Inflation, Inflation, and Inflation”. US PPI was unchanged at 8.6% YoY , still excessively high. US CPI was released a day later...
EUR/USD Pair Is Now Consolidating Losses Above 1.1420
The Euro started a fresh decline from well above 1.1600 against the US Dollar. The EUR/USD pair traded below the 1.1550 support level to enter a bearish zone. The pair even settled below the 1.1500 level and the 50 hourly...
USDCAD Upsurge Capped At 1.26 Level
USDCAD is exhibiting a more optimistic outlook however, this is being tested by the 1.2600 handle, which has managed to curb additional gains from unfolding. Overall, the simple moving averages (SMAs) have converged and are relatively flat, suggesting the pair...
GBPJPY Set For Neutral Close But Bears Still Present
GBPJPY returned to Monday’s opening price on Friday, aiming for a neutral weekly close around 152.60, where the 20-period simple moving average (SMA) has been buffering negative movements since the start of October in the weekly chart. The price has...
GBP/USD Outlook: Cable Is Consolidating Above New 11-Month Low
Bears are taking a breather in early Friday after hitting new 11-month low, as traders collect profits from almost 1.4% drop in past two days. Upticks are expected to offer better levels to re-enter bearish market, as weekly studies remain...
US 100 Tests Demand Zone
The Nasdaq 100 suffers losses as high inflation dents risk appetite. An RSI divergence showed a deceleration in the uptrend, a sign that the rally has overheated. Subsequently, a drop below 16200 has prompted leveraged buyers to exit for fear...
AUD/USD Struggles For Support
The Australian dollar came under pressure after the unemployment rate returned above 5% last month. The sell-off continued after a brief pause over the 30-day moving average near 0.7390, turning the latter into a fresh resistance. The lack of support...