Blogs

<p>Yesterday, the XAU/USD exchange rate raised to the 1,720.00 level. During Thursday morning, the rate surpassed the given level. It is likely that yellow metal could gain support from the 55-, 100– and 200-hour SMAs, as well the monthly R1 in the 1,693.00/1,704.29 area. Thus, gold could appreciate against the US Dollar in the short [&hellip

<p>On Wednesday, the USD/JPY currency pair tested the upper boundary of the short-term descending channel near 107.85. During today’s morning, the pair reversed south from the given line. From a theoretical point of view, it is likely that some downside potential could prevail in the market, as the exchange rate should target the lower

<p>On Wednesday, the EUR/USD currency pair broke the local support level at 1.0820. During today’s morning, the pair dropped below the weekly S1 at 1.0797. Given that the exchange rate remains under pressure if the 55– and 100-hour SMAs near 1.0840, it is likely that some downside potential could prevail. Note that the nearest possible

<p>WTI oil price remains in green on Thursday and attempts to extend recovery from the record low posted after Tuesday’s crash. Signs that producers are cutting output in reaction to collapsed demand on coronavirus lockdown and start of OPEC+ 9.7 million bpd reduction from 1 May, revived optimism and prompted market speculators into fre

<p>The euro currency has fallen to a fresh monthly low against the US dollar, following the release of worse-than-expected EU PMI Manufacturing data. A bearish head and shoulders pattern has formed across the lower time frames and will be activated if price moves under the 1.0770 level. According to the size of the bearish pattern, […]

<p>The British pound is trading with a bearish short-term bias against the US dollar as price remains trapped below the 1.2400 level. GBPUSD bulls must continue to defend the 1.2300 support to encourage buyers to test towards the 1.2450 resistance level. A sustained loss of the 1.2300 support level could cause a protracted decline towards [&h

<p>The US dollar index continues to rise above the short-term simple moving averages (SMAs) following the bounce off the 98.30 support level. According to the MACD, positive momentum could push for further gains in the near-term as the indicator picks up steam above its trigger line. The RSI is also marginally advancing above the neutral [&he

<p>The common currency weakened against the USD yesterday ahead of the release of Eurozone’s preliminary PMIs and a teleconference of EU leaders, in which they are about to discuss EU’s response to the coronavirus outbreak. The main issue is to be how the EU will finance its response to the coronavirus led crisis, to help […]

<p>The British pound stayed afloat above 1.2300 round-figure support and bounced towards Wednesday’s recovery high at 1.2385, showing minimal negative reaction on significantly weaker UK PMI data for April (Manufacturing 32.9 vs 42 f/c, Services 12.3 vs 29.0 f/c and Composite 12.9 vs 31.4 f/c). Attempts to extend recovery after pullback from

WTI took a historic dive this week as the market is now consolidating the recent losses.