Oil Price Forecast: Break of March High Negates Double Top Formation

The price of oil may approach the 2018 high ($76.90) as the break above the March high ($67.98) removes the threat of a double top formation.

from DailyFX - Market News https://ift.tt/2SWT6AB
via IFTTT

Canadian Dollar Price Outlook: USD/CAD Ahead of NFP - Loonie Levels

USD/CAD has finally found some support that can hold. But will sellers relent, even with Oil prices breaking out to fresh highs?

from DailyFX - Market News https://ift.tt/3wUxFz8
via IFTTT

Fibonacci for a Multi-Market Trader’s Approach

Fibonacci can help traders identify support and resistance levels in equity and stock markets, similar to forex and commodities markets.

from DailyFX - Market News https://ift.tt/3c9N0TK
via IFTTT

US Dollar Outlook: DXY Aims Higher on Robust Data, Taper Risk

The US Dollar is trading broadly stronger on Thursday as the DXY Index spikes 0.6% higher in the wake of robust economic data releases and mounting investor angst around the Fed taper debate.

from DailyFX - Market News https://ift.tt/3ibF1tS
via IFTTT

EUR/USD Rate Reserves Ahead of May High with NFP Report on Tap

EUR/USD appears to have reversed course ahead of the May high (1.2266) as the exchange rate extends the series of lower highs and lows from the monthly high (1.2254).

from DailyFX - Market News https://ift.tt/3cfmPvu
via IFTTT

USD/TRY Forecast: USD/TRY Record High, Volatility Rising on Policy Easing Risks

USD/TRY hits a fresh record high as risks of premature policy easing rises

from DailyFX - Market News https://ift.tt/3wVYiDU
via IFTTT

Russian Wealth Fund to Slash US Dollar Holdings to Zero - Reinvest in EUR, Gold, and Yuan

Russian Finance Minister says US dollar holdings in the country’s wealth fund will be cut to 0%

from DailyFX - Market News https://ift.tt/3fJYgsU
via IFTTT

FTSE 100 Stumbles as Updated Travel List Looms

European airlines struggle to keep bullish momentum as concerns grow regarding limited countries being added to the “green list”.

from DailyFX - Market News https://ift.tt/3vLWxsw
via IFTTT

EUR/GBP Price Outlook - Multi-Week Trading Range Coming Under Pressure

EUR/GBP continues to offer traders a well-defined trading range although support looks to be straining

from DailyFX - Market News https://ift.tt/3pnn64X
via IFTTT

British Pound (GBP) Price Outlook: Ranges Hold Ahead of US Payrolls Data

Like most other markets, GBP/USD is trading in a tight range ahead of Friday’s US jobs report that will likely determine the next significant move in the pair.

from DailyFX - Market News https://ift.tt/3iaFgFy
via IFTTT

Crude Oil Prices Soar on Demand Hopes, US Inventories and Jobs Data Eyed

Crude oil prices soared to a 32-month high amid hopes for a post-Covid pickup in demand. EIA inventories data and Friday’s US jobs report are now in the spotlight.

from DailyFX - Market News https://ift.tt/2SW2wwf
via IFTTT

Gold Price Analysis: XAU/USD May Rise with Retail Trader Short Bets Ahead of NFPs

Gold prices climbed despite Fed’s Patrick Harker alluding to an eventual scale back of bond purchases. Ahead of NFPs this week, XAU/USD may rise as retail trader short bets accumulate.

from DailyFX - Market News https://ift.tt/3uQq2YN
via IFTTT

The CPI and Forex: How CPI Data Affects Currency Prices

Find out how to use the Consumer Price Index to make informed trading decisions.

from DailyFX - Market News https://ift.tt/325Ivoz
via IFTTT

Natural Gas Forecast: Key Trendline in Focus as Strong Exports Provide Support

Natural gas is on track to record its second weekly price gain. Strong export figures have helped underpin prices and remain in focus, but short-term weather and inventory drivers may inject volati...

from DailyFX - Market News https://ift.tt/2RjyeTW
via IFTTT

Nasdaq 100 Defies Tapering Fears, Nikkei 225 and ASX 200 Trade Higher

The Nasdaq 100 index edged slightly higher despite a Fed official’s comment about tapering bond purchases. AMC soared 95% amid a retail trader frenzy. Asia Pacific markets opened mixed.

from DailyFX - Market News https://ift.tt/3vNPkbp
via IFTTT

AUD/USD Eyes Trade Data as Post-Australia GDP Move Fails at Technical Resistance

Asia Pacific markets may trade in calm waters as investors await the highly anticipated US NFP report. Meanwhile, AUD/USD may see a directional shift after trade data for May crosses the wires.

from DailyFX - Market News https://ift.tt/2S9a2Uu
via IFTTT

Gold Forecast Bright on Weak USD; Silver Eyes Multi-Year High

Gold price action advanced for its fourth-week straight as silver soared to multi-year highs thanks to a stubbornly weak US Dollar. Will gold and silver prices rise further or will Fed hawks stymie...

from DailyFX - Market News https://ift.tt/3fH7Dto
via IFTTT

Bitcoin Price Awaits Catalyst as Speculative Mania Heads Elsewhere

Bitcoin trades between two major technical levels as price action slows and the speculative fervor that drove prior volatility shifts to other assets. As a result, Bitcoin may require a catalyst be...

from DailyFX - Market News https://ift.tt/3vRCdpW
via IFTTT

AUD/USD Susceptible to Defined Range Amid Failure to Test May Low

AUD/USD may continue to trade within a defined range amid the string of failed attempts to test the May low (0.7675).

from DailyFX - Market News https://ift.tt/3idjxNo
via IFTTT

Trading the Digital Yuan: The first central bank-backed digital currency

The digital yuan (aka eCNY) is already being tested in mainland China, and the upcoming release of this new blockchain-enabled central bank digital currency (CBDC) is poised to further disrupt inte...

from DailyFX - Market News https://ift.tt/3g8uFbH
via IFTTT