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WTI Oil Prices Soar: Russia and Saudi Arabia Cut Production WTI oil prices are rising due to falling crude oil inventories and production cuts by Russia and Saudi Arabia. However, concerns about an economic slowdown in China may limit further gains. Oil traders are watching upcoming reports...

EURUSD Analysis: Price is Steady as Traders Awaits Important Data At present, the EURUSD rate is holding steady, as the market eagerly awaits an important announcement about US job figures. However, this calm was disrupted on Thursday when the European currency experienced a dip, effectively...

Crude Oil Analysis: Strong Rise on the Price Today’s PCE (Personal Consumption Expenditures) data was as expected, and this helped stock prices to rise as August came to an end. Even though interest rates won’t be lowered, the fact that they won’t be raised again this year has made people want...

Missed Data and Falling Dollar in Gold Analysis: How Gold Prices are Rising Gold prices have been rising this week due to two key factors. Firstly, there was a miss in the US JOLTS job openings data, which measures the number of job openings in the US economy. Secondly, there was a miss in the...

Bitcoin Analysis: ETF Approved as Traders Celebrating Bitcoin is trading around $27,300 after it broke the minor resistant at 26.734 after a US court has approved the first Bitcoin ETF, marking a major win for crypto investors. The SEC’s decision to deny Grayscale Investments’ Bitcoin ETF was...

Crucial GBPUSD Levels to Watch: 1.255 Support and 1.274 Resistance The GBPUSD currency pair experienced a strong bounce from the 1.255 area, with an upbeat halt at the 1.264 pivot, which consequently serves as the main resistance area for the bulls. However, upon closer examination of the...

GBPUSD: The Pivot Prevailed The GBPUSD currency pair experienced a decline after reaching the 1.264 pivot point. The downward trend is expected to persist, with targets set at 1.255 and 1.248.

EURUSD Analysis: Can the Bears Hold Below 1.083 Pivot Level?” The EURUSD Currency pair is currently trading near the 1.083 pivot level. A bearish long wick shadow candle has formed near this level, indicating potential downward pressure on the pair. Additionally, the RSI indicator is hovering...

RSI Indicator Flips Above Signal Line for NZDUSD The NZDUSD currency pair is currently experiencing a surge as it moves toward the upper band of the declining channel in the 4 hour time frame. Interestingly, the RSI indicator has flipped above the signal line, providing a favorable forecast for...

EURUSD Near Resistance: Short Opportunities Ahead The EURUSD currency pair has recently bounced from the support zone at 1.085 and is currently testing the resistance area between 1.0915 and 1.0935. Interestingly, the EURUSD formed a bullish engulfing candlestick on its daily chart, which is...

USDJPY Forecast: 143.86 Support in Focus The USDJPY currency pair experienced an uptrend that came to a halt after reaching a high of 146.51 on August 17. Subsequently, it returned to the previous high around the 145 area, which now acts as support for the USDJPY. The outlook for the USDJPY...

GBPJPY Recent Decline: A Technical Perspective The GBPJPY currency pair is currently hovering around the 184.81 mark. This comes after a noticeable break in the rising trendline, a development that was somewhat expected. The reason for this anticipation was the RSI indicator, a tool used by...

Bitcoin's Double Bottom Pattern: A Sign of Hope? Bitcoin is back in a key area of support, which ranges from 28,484 to 28,266. This happened after the bulls failed to overcome the strong resistance at 30,000. This point is not just a pivot point, but also a level that carries a lot of...

Navigating the XAUUSD Downtrend: Key Levels to Watch The XAUUSD, or gold price, has been on a downward trend. This happened after the upward trendline was broken. The decline in gold prices slowed when it reached a significant support level at $1894.6, which is just below the 50% mark of the...

GBPUSD Analysis From Daily to 4-Hour Charts Upon a detailed examination of the GBPUSD daily chart, it's evident that the trend has shifted sideways following the pair's break from the upward channel. The resistance zone is currently situated at 1.26, a critical level that the market must...

EURUSD Trading Below Middle Line of Declining Channel The EURUSD currency pair is currently experiencing a downward trend, trading below the middle line of the declining channel at approximately 1.0920. The bears have managed to close under the 1.0915 support level, and the market is now...

Bullish Outlook for Bitcoin After Channel Break Recently, Bitcoin broke through its channel and tested the significant $30,000 psychological level. After this break, the outlook for Bitcoin has become increasingly bullish. In fact, the BTCUSD pair has returned to test the broken channel in the...

EURUSD May Break the Channel as RSI Indicator Crosses Signal Line The EURUSD currency pair has recently responded to the support level at 1.093. It is now testing the weekly pivot at 1.099, which coincides with the upper band of the declining channel in the 4-hour time frame. The RSI indicator...

USDJPY Surges Towards Previous High The USDJPY currency pair recently experienced a bounce from the 0.382 Fibonacci retracement level. This bullish wave was initiated by a long wick shadow candlestick pattern in the 4-hour time frame. As a result, the pair is now surging towards its previous...

Bitcoin Analysis: Key Levels to Watch The BTCUSD is currently trading above the 28,099 support level within a declining channel. Despite the bearish channel, the overall outlook for Bitcoin remains bullish. However, in order for this bullish trend to continue, the bulls must break out of the...