Last Friday’s gold price action provided valuable insights into its potential near-term direction. Let’s break down the key levels and possible scenarios: Recent Price Action This pattern suggests that gold may continue its downward trend following a...
The Australian dollar (AUD) extended its gains against the US dollar (USD) on Thursday, July 4th, closing 0.3% higher at 0.6727. This marks the second consecutive day of gains for the AUD/USD pair, following a series of...
Philip Lane, the European Central Bank’s (ECB) Chief Economist, has joined ECB President Christine Lagarde in suggesting that another interest rate cut in July is unlikely. Lane emphasized that last month’s inflation data doesn’t provide clear answers...
June Overview Throughout June, the EUR/USD pair experienced a downward trend, largely influenced by a strengthening US dollar. The euro briefly dipped below the 1.07 mark, closing yesterday at 1.0714. Economic Data The Eurozone’s manufacturing PMI for...
The precious metals market, particularly gold, has been a hot topic in the first half of 2024. Let’s take a closer look at the performance and future prospects of these valuable commodities. First Half Performance Gold and...
In a surprising move, UK Prime Minister Rishi Sunak has announced that the general election will be held on July 4th, 2023. This marks the first time since 1945 that the UK will hold a general election...
The natural gas futures contract is currently facing a key resistance level at 2.849. A bullish breakout above this level would likely indicate that the broader uptrend from the 1.574 low on February 19th has resumed. Upside...
The WTI crude oil futures contract has broken below the key 76.01 support level, plunging as low as 73.65 in recent trading sessions. This technical breakdown suggests that the broader downtrend from the 87.07 high on April...
The WTI crude oil futures contract has broken out above the resistance of the falling price channel visible on its 4-hour chart. Following the bullish breakout, the commodity is now facing a key test at the 80.04...
The WTI crude oil futures contract remains confined within a falling price channel visible on the 4-hour chart, staying in the broader downtrend that originated from the 87.07 high. Consolidation Within Downtrend As long as the price...
