Latest Market News
Gold continued its triumphant streak for the third consecutive day on Monday. From a technical analysis perspective, buyers have not yet reached any specific target, but overall, they are approaching it. For instance, within the current bearish corridor, the area around $2040 appears to be an attractive target, where the upper bound of the channel […]
The primary currency pair keeps balance on Monday. The current EURUSD exchange rate stands at 1.0775. This morning, everything is quiet. The US dollar is stable: the country is on holiday because of Presidents’ Day. Intraday activity is expected to be diminished on the whole market spectrum. Last week’s data demonstrated that the producer price […]
Fresh Shipping Crude prices are sitting just below Friday’s highs as we start the new week. Indeed, we’re seeing some light selling across the European morning on Monday, despite news of fresh attacks on shipping routes in the Middle East. The UKMTO noted that it received reports overnight of a UK registered ship being hit […]
Daily Market Outlook, February 19, 2024 Munnelly’s Market Minute… “Quiet Start, With US Offline For Presidents Day” China’s markets did not show the anticipated enthusiasm after the break, with only modest gains in stocks so far. During the Lunar New Year holiday, tourism revenues surged by 47% compared to the previous year, with over 61 […]
EURUSD, “Euro vs US Dollar” EURUSD quotes have risen above 0/8 (1.0681), escaping the oversold area. The RSI is testing the resistance line. In this situation, the quotes are expected to grow above the 1/8 (1.0803) level, subsequently reaching the resistance at 2/8 (1.0864). The scenario could be cancelled by a downward breakout of the […]
EURUSD, “Euro vs US Dollar” The EURUSD pair received support at the 1.0732 level. By now, a growth wave to 1.0787 has been performed. Today the market is forming a consolidation range under this level. With an escape upwards, the correction could extend to 1.0816. Once this level is reached, a decline to 1.0774 might […]