Spell-bound returns JANUARY 2022| The best #forex #gold Indices trading ...

-

Comments

Post a Comment

Popular posts from this blog

Wednesday Morning Big News For Forex Traders| Latest Forex News

-
Image
Wednesday Morning Big News  NZD/USD Outlook Mired Ahead of RBNZ as RSI Sits in Oversold Territory: NZD/USD continued to chip away at the correction from the 2019 low (0.6204) as the US NFP report showed the world’s largest economy adding 225K jobs in January versus forecasts for a 165K print. A deeper look at the report revealed Average Hourly Earnings climbing to 3.1% from a revised 3.0% in December, and the pickup in job/wage growth may keep the Federal Reserve on the sidelines as the central bank insists that the “current stance of monetary policy is appropriate to support sustained economic growth, a strong labor market, and inflation returning to our symmetric 2 percent objective.” At the same time, the Reserve Bank of New Zealand (RBNZ) is widely expected to keep the official cash rate (OCR) at the record-low of 1.00% on February 12, but the central bank may endorse a dovish forward guidance at its first meeting for 2020 amid the weakening outlook for the Asia/Pa...
Read more

#Gold Could Be Poised for a Continuation Lower (10 June 2024)

-
Image
Gold violates bullish structure; prints a head and shoulders pattern Short-term risk is negative; confirmation signal awaited below 2,285 Gold has stabilized near May’s floor of 2,285 after losing more than 3.0% on Friday to mark its biggest daily loss in two years. The price’s current lackluster performance indicates a probable bearish continuation , given its drop below the 20- and 50-day SMAs and beneath the significant trendline zone at 2,325. The technical indicators align with this narrative, as the RSI has dipped below its 50 neutral mark and the MACD has slipped below its zero line. In the event that the 2,285 base crumbles, validating a bearish head and shoulders formation , selling momentum could escalate towards the 2,220 level. Falling lower, the price might retest the former constraining zone of 2,185 before plunging towards the ascending trendline, which connects the 2023 and 2024 lows at 2,145. If the bulls resurface, they might encounter a new challenge in the caution...
Read more

OIL TICKS HIGHER ON ABATING OVERSUPPLY CONCERN AMONG INVESTORS: 19 JUNE |FOREX RECOMMENDATIONS

-
Crude oil prices extend its previous session gains as bulls take control on cooling down of oversupply fears among investors after a successful OPEC meeting on Thursday. The meeting ended with a promise to hold on existing cuts by countries like Iraq and Kazakhstan for the additional period of three months. Both countries will now compensate for their overproduction in May, by drawing extra barrel out of market, even if other OPEC producers do not extend record production cuts. In addition, the meeting offsets the supply concern of rising inventories and provided a modest lift to crude prices. As of this moment, US WTI is trading 1.05% higher at $39.33 per barrel, while Brent crude is trading 1.06% higher at $41.78 per barrel. Meanwhile, crude oil is poised to register weekly gains as it is trading 7.63% higher, after registering losses in previous week. Talking about the previous session, crude oil ended near day’s high at $38.92 per barrel, with gains of 2.72% after investors ...
Read more