Category: Technial Analysis
XAUUSD, “Gold vs US Dollar” Near the support level, Gold has formed an Engulfing reversal pattern. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target could be 2015.00. Upon testing the resistance, the price might break this level and continue the uptrend. However, the price could pull back […]
Oil Traders Increase Longs… Slightly The latest CFTC COT institutional positioning report shows that oil traders increased their net long positions in oil last week. Total upside exposure was raised to 217k contracts from 215k contracts prior. The muted change has been reflected in the choppy price action we’ve seen recently in crude futures. While […]
Daily Market Outlook, May 18, 2023 Asian equity markets posted gains overnight as the region followed the positive momentum from Wall Street. The rally in stocks was driven by optimism surrounding regional banks and progress in debt ceiling talks.The Nikkei 225 surged by 1.5% at the open, supported by reports of potential subsidies for Japanese […]
The market’s most traded currency pair continues to retreat on Wednesday. The current EURUSD quote is 1.0860. Investors are even more interested in safe-haven assets than before. This is due to the issue of the US government debt limit. In these circumstances, the US dollar is looking increasingly attractive. This will continue to be the […]
Daily Technical Trade Setups For Apple, NZDJPY & CADCHF To access today’s actionable analysis, click here! Source: Tickmill
Musk Shares Dim View on Economy Tesla shares are trading higher ahead of the open today on the back of the annual shareholder meeting yesterday. The event was an interesting one. CEO and founder Elon Musk was seen striking a tone of caution over the economic outlook and warned that Tesla would not be immune […]
The British pound remains under pressure against the US dollar. The current GBPUSD quote is 1.2436. First, the Pound Sterling is under pressure from a strong US Dollar, which is in demand as a safe-haven asset while global capital markets are avoiding risk. UK employment market statistics released yesterday were disappointing. The unemployment rate rose […]
USDJPY, “US Dollar vs Japanese Yen” The quotes on H4 and the RSI are nearing the overbought area. A test of 8/8 (137.50) is expected, followed by a rebound from it and a decline to the support at 6/8 (135.93). The scenario can be cancelled by rising above the resistance level of 8/8 (137.50). In […]
USD Rallies on Safe Haven Demand President Biden and Speaker of the House Kevin McCarthy met for the latest round of US debt ceiling talks yesterday. While both sides were seen showing a willingness to co-operate and achieve a deal, greenlighting staff-level negotiations, a resolution is yet to be agreed. With markets wary over the […]
Daily Market Outlook, May 17, 2023 Asian equity markets put in another mixed performance overnight as caution prevailed in the region due to the negative handover from Wall Street. Concerns over the debt ceiling clouded risk appetite in the US, although the meeting between President Biden and congressional leaders was described as productive, but without […]