The U.S. dollar showcased a resilient performance on Friday, bolstered by a noteworthy uptick in producer prices during July. This development triggered an interesting interplay with the ongoing speculation surrounding the Federal Reserve’s stance on interest rate adjustments. The Producer Price Index (PPI), a key metric gauging the cost of services, surprised markets with its […]
Market Analysis – August 11th US Oil (WTI) continues to edge higher toward the 84.40 resistance level. The oil market has been favoring the bullish side since the previous month, with buyers displaying strong conviction. Prior to the buyers gaining strength, the market emerged from a consolidation phase. US Oil (WTI) experienced a challenging period […]
In an exciting turn of events, the British pound staged a remarkable recovery on Friday, putting an end to its recent three-day slide. The catalyst behind this resurgence was the strikingly robust performance of the UK economy in June. Sterling not only managed to edge up against both the dollar and the euro but also […]
Market Analysis – August 10th Gold (XAUUSD) Continues to Struggle with Bearish Momentum. The market is still locked in a battle with bearish strength, despite the ongoing efforts of buyers. The price took a sharp turn from its previous bullish sentiment several weeks ago. In June, sellers initiated a bearish strike that pushed the price […]
Key Resistance Levels: 160.00, 162.00, 164.00Key Support Levels: 150.00, 148.00, 146.00 EUR/JPY Price Long-term Trend: Bullish The EUR/JPY pair has continued its rise as it breaks the overhead resistance level of 158.00 . At the time of writing, the pair has reached a high of level 159.09. The price indicator suggests that the Yen will […]
In a dynamic display of strength, the South African rand surged against the dollar on Thursday, capitalizing on a weakened dollar that stemmed from the release of U.S. inflation data for July. As of the time of writing, the rand confidently held its ground at 18.71 against the dollar, marking an impressive ascent of 1.25% […]
Market Analysis – August 9th FTSE 100 buyers show steadfastness against selling pressure. The buyers have showcased their resilience and strengthened their resolve in the face of selling pressure. They have refused to succumb to the sellers and are actively building strong momentum to counter any potential sell-off. Over the past period, buyers have gained […]
Market Analysis: August 8th US 30 faces a challenge from sellers amidst a bullish setup. The sellers in the US 30 index are challenging the long-standing bullish strength on the daily chart. As a result, they are introducing a potential setback in the bullish setup. Buyers have been prominent in the market for an extended […]
Market Analysis – August 7th NASDAQ 100 (NAS100) buyers defend key levels amidst potential selling pressure. Buyers of the NASDAQ 100 (NAS100) index are currently on the defensive near the 15236.70 market level. As a result, they strive to hold off potential selling pressure. The sell traders have lost some volatility, which has driven the […]
