The EURUSD pair staged a marginal recovery on Monday but failed to close above the 1.17 threshold, and the trading looks neutral today. The recent rebound was mainly due to a local dollar weakness as well as the squeeze of euro shorts opened during the Italian political crisis. The market continues to cheer the formation of a new government in the country....
The USDJPY pair finished the week with only marginal losses as the greenback has trimmed the previous decline on Friday, due to a spectacular US jobs report. The price has refreshed one-week highs in Asia today, but the bullish impetus fails to gain momentum ahead of the 14- and 20-DMAs in the 109.70-109.80 area. Despite the short-term technicals have...
Crude oil prices set for a weekly gain but look indecisive amid the directional market on Friday. Brent failed to stage a recovery yesterday, with the price has settled around the 20-DMA after a brief spike above $79. Market participants have already digested the latest signals from OPEC. The cartel promised to remain committed to the existing deal, which...
Gold is trading mostly in a recovery mode this week, with the price is getting closer to challenging the 200-DMA at $1,307 once again. The metal closed above the $1,300 threshold yesterday, which open the way to further rebound in the short term. On Thursday, gold is up 0.30% on the day so far. The reason behind a better tone around the precious metal is the...
The euro came under intense pressure amid the political crisis in Italy which fueled fears of euro break-up and sent the Italian bond yields strongly higher. EURUSD found support just above 1.15 on Tuesday and is attempting to stage a local recovery during the early European hours. The pair reached 1.1580 so far and may rise further in the short term as Italian...
Gold remains within a bearish trend, though the recovery attempts have become more pronounced lately amid some corrective signals from the greenback. On the other hand, the rebound prospects still look timid and limited as the precious metal remains below the key moving averages and has derailed the important $1,300 psychological level. The dollar continues...
Brent crude continues to bleed on Monday after profit taking has accelerated late last week, with the price dropped to three-week lows around $74,50. Oil attracted buyers on a dip and has recovered slightly early Monday but remains in the red as output concerns still linger. Steep losses in the market were fuelled by Saudi Arabia and Russia. The two top...
Crude oil prices fell over 1% on Thursday and continue to correct lower ahead of the weekend. Brent crude is challenging the psychological support of $78, trading at nine-day lows just above $77. After the price derailed the $78 level, the short-term technical outlook has worsened further. The latest sell-off came amid concerns that OPEC may wind down output...
The Trump administration has launched an investigation into car imports that could result in new US tariffs. Against this backdrop, the risk aversion has intensified and therefore fueled demand for safe haven assets. The Japanese yen is the main beneficiary in such environment, with the USDJPY pair has slipped from multi-month highs at 111.40, down to ten-day...
The greenback is back on the offensive across the board except for the yen and the Swissy which are in demand amid a broad risk aversion on the back of negative Trump’s comments on trade negotiations with China. The dollar resumed its ascent after a recent mild correction, and the bulls seem to be ready for another attack. The short-term direction in USD...
The broad US dollar rally was halted yesterday, and the currency remains under a mild pressure on Tuesday. US 10-year Treasury yields hit one-week low of 3.05% today, down almost 8 basis points from the 7-year high of 3.128% reached last week. The correction both in yields and the greenback looks logical from the technical point of view, as the buck is...
Gold prices hit five-month lows on Monday, as the bearish pressure on the safe haven metal has intensified after the reports that US and China decided to put the trade war “on hold”. Good news from this front fuelled demand for risky assets and pushed the greenback to fresh 2018 highs. Against this backdrop, the yellow metal broke below the previous lows around...
Brent touched fresh November 2018 highs yesterday. The price quickly jumped to $80,50 but failed to hold above the psychological $80 threshold and staged a correction which was purely technical by nature. On Friday, crude oil prices are oscillating above $79,50 area and struggle for direction after an aggressive rally. Traders continue to assess the potential...
Over the last month, BTCUSD is trading within the $8,000-10,000 range. Since May 5, when the price bumped into the psychological resistance of $10,000, the coin is mostly nursing losses. Bitcoin crashed to almost $8,000 overnight and tries to regain ground on Thursday, but the pair obviously lacks the bullish impetus. From the technical point of view, it...
BTCUSD tried to stage a recovery over the weekend, but failed to confirm a break above the 100-DMA around $8,800 and resumed the bearish move on Tuesday. Today, the price has lost around 6% already, and the sell-off could intensify, should the coin lose the key $8,000 mark. There are no any fundamental drivers behind the current moves in the cryptocurrency market...
Spot gold is trading lower for a third day in a row on Tuesday, with recovery attempts failed amid the reemergence of dollar demand. The greenback makes a comeback due to another rise in the US Treasury yields above the key 3,00% mark. The yellow metal was rejected at the 100-DMA on Friday and resumed the downside move, probing the $1,310 level once again. Despite...
Crude oil prices send corrective signals since late Friday. Last Thursday, Brent almost hit $78, its highest since November 2014. The bulls didn’t dare to challenge this psychological barrier which fuelled a partial profit taking at attractive levels. The question is whether the price has formed a top, or it’s just a pause before another bullish wave? The recent...
The cryptocurrency market continues to suffer losses on Friday, with Bitcoin is down almost 4% on the day. The coin failed to keep above the key $9,000 threshold and slipped to April 26 lows at $8,676. Should this level give up, we may see a decline towards $8,400 and then to the $8,000 area. Apart from the technical signals, which are getting more bearish after...