Market Analysis- October 7 US Oil (WTI) is under increasing bearish pressure. The US Oil (WTI) market has seen significant bearish momentum dominate its landscape recently. Last week, the bears came roaring back, challenging multiple key levels. They eventually disrupted the bullish trend that had been prevailing for much of September. This October, the bearish […]
The Canadian dollar remained firm against its U.S. counterpart, buoyed by robust job growth data from both nations for September. Despite this resilience, the loonie was poised to conclude the week with a modest decline due to concerns over rising global bond yields. The Canadian dollar, trading at 1.3767 against the U.S. dollar, displayed resilience […]
Market Analysis – October 6 EURCHF price continues to decline, indicating the market’s weakness since the reversal in mid-July 2022. The price has been diving sharply without any significant retracements until it recently encountered resistance at the 0.94100 level. EURCHF Key Levels Demand Levels: 0.96800, 0.95500, 0.94100Supply Levels: 0.98300, 1.00500, 1.02800 EURCHF Long-Term Trend: Bearish […]
Market Analysis- October 6 Gold (XAUUSD) bearish momentum slows down. The sell traders, who had been driving the price steadily lower, are now struggling to maintain their grip on the market. This week has indeed been marked by a robust bearish run. However, it appears that the bearish strength is gradually diminishing as sellers approach […]
Market Analysis- October 5 FTSE100 sell traders maintain their grip as bearish pressure unfolds. As the week unfolds, it becomes increasingly evident that sellers in the FTSE market are far from relenting in their efforts. The recent developments have only served to reinforce the prevailing bearish sentiment. This, however, hints at potential further declines soon. […]
The Russian ruble experienced a sharp drop, hitting its lowest level against the dollar in over seven weeks, following Russian President Vladimir Putin’s recent accusations against the United States. Putin, speaking from Sochi, accused the US of attempting to assert its waning global dominance, which further strained international relations. On Thursday, the ruble initially showed […]
The Japanese yen staged a recovery on Wednesday, bouncing back from an 11-month low against the U.S. dollar. The sudden surge in the yen on the previous day had tongues wagging, with speculation rife that Japan had intervened in the currency market to bolster its weakening currency, which had tumbled to its lowest point since […]
Key Resistance Levels: 160.00, 162.00, 164.00Key Support Levels: 150.00, 148.00, 146.00 EUR/JPY Price Long-term Trend: BearishThe EUR/JPY pair has continued its descent into the area of the bearish trend as it hits level 154.42 in a downturn. The currency pair has been moving in a range between levels 157.00 and 158.50 since September 1. As […]
Market Analysis- October 3 US30 bearish momentum persists, but buyers eye a potential reversal. The Dow Jones index has shown remarkable resilience to bearish pressures, with sellers maintaining a firm grip on the market. Despite numerous attempts by buyers to regain control, the bearish trend endures. This struggle comes on the heels of a […]
