WTI crude futures fell almost 2% on Tuesday, ending a 6-day winning streak. A sell-off in crude oil prices was bound to follow a sharp rally due to the mix of geopolitical tensions. It is expected that further corrections may be seen before strong support is found. The outlook for crude oil remains cautiously bearish in the near term. While geopolitical tensions...
On the 120-minute chart, bitcoin is showing bullish momentum. After several days of stabilization, the situation now suggests further gains. However, this move was introduced after the NFP data release when the dollar was still strong from a fundamental perspective, which is why we need to be cautious. However, BTC can take advantage of this bullish pattern for...
Gold prices (XAU/ USD) edged higher during Asian hours on Thursday, ending a six-day losing streak to a near three-week low. The dollar is in a consolidation phase as traders await the release of the US consumer Price index (CPI) data. This reorientation provides some support for gold. However, as highlighted by the September FOMC minutes, it seems unlikely that...
In a month, gold prices have surged 7.38%, Reached a record high of $2,685. But the price will hit $2,510 next month. There will be a lot of volatility adjustment time during this period, but the general direction is 2510.
GBP/USD fell to the 55-day EMA at 1.3065 and the upper edge of the daily cloud zone at 1.3070, rising to the 2024 high at 1.3434 before the low reached on September 11 at 1.3002. Downside stops near 1.3002 are most likely, and stops below 1.3000 are certain. Traders are betting heavily on a rise in the pound, with a net long position of $7.8 billion. While...
USD/JPY edged lower, dropping from 149.10 to near 147.35. Usd/JPY surged from 141.65 to 149.01 last week. A surge in crude oil due to geopolitical tensions in the Middle East weighed on the yen. With $5 billion in short positions held by traders, short positions will surely fall, but it is unlikely that speculators will bet against the yen. Technically, USD/JPY...