The USDCAD moved higher earlier in the session supported by the story that OPEC+ was mulling a 500K barrel per day production increase (see earlier post here). That pushed the price to the low of a defined swing area between 1.3494 and 1.3510, helped by the tumble in oil which saw the price test the
Month: November 2022
Goldman Sachs on Sunday cut its fourth-quarter Brent oil price forecasts by $10 to $100 a barrel, citing factors including a likely hit to consumption from China‘s COVID case spike. But the investment bank said that the China concerns were “another speed bump on the road higher,” since the major consumer has indicated that this
Dollar opened the week broadly higher, following last week’s late recovery. Swiss Franc also picks up some buying, especially against Euro and Sterling. Commodity currencies are mixed for now, with Canadian Dollar having an upper hand. Yen is also mixed as corrective trading continues. The week is relatively light with holidays. But there are still
EUR/USD remains capped as expected below the 200-Day Moving Average on a closing basis, currently seen at 1.0409. Analysts at Credit Suisse see scope for a deeper setback to the 38.2% retracement of the rally from September at 1.0120. Resistance at 1.0409 is expected to cap for now “EUR/USD remains capped as expected by key
My experience with price action trading and the best strategies to identify and follow price structures on Forex & stock market. In this video you’ll learn: • How to read price action in order to trade any market • How to trade price action (explained for beginners) • What are the best price action signals
A Plus500 review. What they don’t tell you! Ok. What do we have here? Plus500. A very simple trading platform that makes trading look like a game and basically targets small-time traders for low amounts. The company was founded in 2008 and is registered and located in Israel but also has offices in the UK,
USDCAD runs higher after break of 200 hour MA/38.2% The USDCAD is making a break above the 200 hour MA and 38.2% of the move down from the high from last week (start of the last trend leg down that bottomed near the 100 day MA this week). The break has been met with more
This will be a continuation of the post I made last week here, highlighting the similar situation currently. As things stand, the dollar is continuing to show some fight as the selling momentum stalls. As mentioned then, this is where buyers and sellers will have to do battle in determining whether the next leg for
While investors are eager to know when they will be able to get their funds back from the now-bankrupt crypto exchange FTX, insolvency lawyers warn it could take “decades.” The crypto exchange, along with 130 affiliates filed for Chapter 11 bankruptcy protection in the United States on Nov. 11. Insolvency lawyer Stephen Earel, partner at
Maize prices have started rebounding in the past few days. Prices in Chhindwara rose about 5% since November 1 to date, trading at Rs 2,200 per quintal (ex-warehouse). In the ongoing season, maize prices bottomed out at Rs 2,100 levels, touched on October 27, 2022. Thereafter, prices have traded in a narrow range of Rs
NZDUSD is hovering around 0.6160 as investors await the People’s Bank of China’s monetary policy. Federal Reserve policymaker Bostic doesn’t see a continuation of the 75 bps rate hike regime in the December meeting. The Reserve Bank of New Zealand may shift to a 75 bps rate hike to curtail the historic surge in inflationary
USDCHF bounces this week in swing area and just above 100WMA The USDCHF lost value over the last 4 weeks and that momentum continued in the early part of the week. The price moved below the August low at 0.9370, completing an up and down lap that saw the price move up to an October
The Baker Hughes rig count for the current week shows: Oil rigs rose 1 to 623. Gas rigs +2 to 157 Total rigs +3 to 792 The price of crude oil tumbled to a low of $77.24 but is trading at $78.82 currently The high reached $82.62 today. The price is below the 100 week
Although prices cooled down from their 14-year high hit in March, crude oil prices remain extremely volatile on uncertain macroeconomic conditions. A cut in global oil demand forecast by agencies like Energy Information Administration (EIA) and OPEC, easing tensions between Russia and Ukraine, concerns over China’s demand, and a G7-proposed price cap on Russian oil
Federal Reserve officials’ hawkish commentary bolstered the US Dollar, except against the New Zealand Dollar. US Existing Home Sales tanked, flashing an upcoming recession in the United States. Reserve Bank of New Zealand’s upcoming monetary policy meeting would determine NZDUSD direction The New Zealand Dollar (NZD) regained composure and finished the week up by 0.50%
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