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After penetrating the 80.000 USD price level on Thursday of last week WTI Crude Oil has shown sustained value and the coming days will be intriguing for speculators. WTI Crude Oil will open trading within eyesight of the 81.000 USD price early Monday. Last week’s trading saw the 80.000 mark penetrated and brushed to the side on early Thursday as speculators seemingly reacted to U.S Inventory data from the previous day, which showed a shortfall of over one million barrels. The U.S and global production is solid, but the price of WTI has been showing a steady flirtation with higher prices since early February. The bullish trend in WTI not only passed the 80.000 USD mark on Thursday, but sustained its momentum without any volatile reversals lower. Since late in February, the 77.000 USD price has acted as rather durable support and did so again this past Tuesday and early on Wednesday. The ability of WTI Crude Oil to start marching upwards on Wednesday and then reach velocity on Thursday i

EUR/USD: Weekly Forecast 16th April - 22th April The EUR/USD went into the weekend within sight of its highs attained early on Friday, and continues to find speculative buying persists with the currency pair. The EUR/USD will start the week near the 1.09930 mark, which is a price that has last seen sustained values in March and April of 2022. Yes, the EUR/USD did trade above the 1.10000 level briefly in early February of this year, and this past Friday the currency pair did trade near a high of 1.10800 before faltering. However, sustained prices near these levels have not been accomplished for over a year and speculators who believe the EUR/USD can go higher are certainly looking at their long-term charts to gain perspectives. EUR/USD Battling Highs is a Solid Trend but Concerns Abound The ability to climb over 1.10000 on Friday and move even higher was significant. However, traders need to remain realistic, if the reversal lower didn’t cause concern then it should be remembered th

Gold is trading flat to positive at 1727.63, up by 0.09% as the U.S sees spike in the number of coronavirus cases in some of its states. Texas saw the highest rise with more than 4000 cases while California stood at 3000 daily cases. Florida and Arizona both registered more than 2000 cases each. However, the gains in bullion remain limited over the news of new steroid drug Dexamethasone that has shown positive effects on the severe coronavirus patients in the U.K and is proven to be the first drug to save lives. Talking about the previous session, gold initially reached its intraday high of 1732.86 on the back of rising concerns over the second wave of the coronavirus as cases rose across the world. Furthermore, Powell in his testimony reiterated that the path to economic recovery will take a long time as the employment and output levels are far below the pre-epidemic levels. Later in the American Session, the bullion lost most of its safe-haven bids to broad-based strength in