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Middle East ImpactOil prices remain under pressure on Friday and are on course for their largest weekly decline in 3 months. Hopes of a ceasefire between Israel and Hamas are driving the selling in oil prices, with crude futures now down around 10% from
No Joy for USD BullsThe US Dollar is trading lower today on the back of the May FOMC yesterday. The central bank held interest rates unchanged, as expected, but was far more close-guarded in its outlook than many were expecting. Many market players saw
TitleFalling to 61.8% Fibonacci SupportTypeBullish BouncePreference:Price is falling towards the pivot point of 154.59 which is a pullback support that aligns with the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see
The price of Bitcoin has formed the bearish engulfing at the end of April. The daily chart also shows that the price of this asset has dropped and formed a double top. As for now, the asset’s price broke the psychological supporting level of 60000.
TitleApproaching Resistance at 50% Fibonacci RetracementTypeBearish ReversalPreference:Price is rising towards the pivot point of 1.0740 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse
In Tuesday’s early New York session, the EUR/USD pair took a downward spiral, relinquishing its intraday gains and descending to the pivotal support level of 1.0700. Despite a surge in positive Eurozone data, the Euro found itself unable to maintain
USD in Focus TodayThe US Dollar is pushing higher today as traders brace for plenty of volatility risk throughout the session. We have both the ADP employment figures and ISM manufacturing due this afternoon ahead of the keenly awaited may FOMC this
CPI Stalls at 2.4%The eurozone flash CPI estimate, released this morning, showed that headline inflation in the single currency bloc remains unchanged at 2.4% last month. Additionally, the core reading was seen slowing to 2.7% from 2.9% prior, though
In the hustle and bustle of Monday's early New York session, the EUR/USD pair showcased resilience, maintaining its position above the critical resistance level of 1.0700. The spotlight now falls on the impending release of pivotal economic
The yield of German Government Bonds is heading up, whereas their price is going down. The yield of this asset was 2.578% at the end of last trading week. Although it might head up and reach 3.0% soon. At the same time, the asset’s price might
TitleRising into 50% Fibonacci Overlap ResistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.5968 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from
Microsoft Spikes HigherShares in tech giant Microsoft are trading higher today ahead of the US open after the group posted another stellar set of results last night for Q1. This marks the seventh straight quarter of earnings growth for Microsoft. On the
Greenback flexes its muscles, propelling EUR/USD to cling to the lower 1.070s range in the wake of robust US inflation figures unveiled by the Personal Consumption Expenditures (PCE) report. The data, showcasing a steeper-than-anticipated climb in the