Oil prices saw a downward trend on Tuesday as the Federal Reserve continued to take a cautious stance despite the recent softening of inflation. This cautious approach has raised concerns that US interest rates may remain at elevated levels for a prolonged period. Both Brent crude and WTI futures experienced a nearly 2% decrease from
Technical Analysis
The tragic news of the Iranian President Ebrahim Raisi’s death in a helicopter crash near the border with Azerbaijan sent shockwaves through the financial markets. Alongside the President, the helicopter also carried Foreign Minister Hossein Amir-Abdollahian and other officials, all of whom perished in the crash. As the search for the helicopter unfolded in the
AUDCAD has shown a steady increase, currently trading above 0.9100. Both the RSI and MACD indicators are holding in positive regions, indicating a bullish trend. The currency pair reached a 14-month high of 0.9125 on February 8, showcasing a strong upward movement. Despite facing resistance in the 0.9100 area, the technical indicators suggest that the
Gold prices have surged to new highs, surpassing the previous peak and reaching a fresh high of 2,450. This significant movement in the market indicates the potential for further increases in the coming days. The MACD shows strengthening positive momentum above its trigger and zero lines, while the RSI is approaching the overbought territory, remaining
The EUR/USD pair has shown a significant increase from the 1.0620 support level against the US Dollar. The pair successfully surpassed the 1.0750 and 1.0800 resistance levels, indicating a positive trend. The 4-hour chart reveals that the pair has moved above the 200 simple moving average and the 100 simple moving average, which further confirms
Silver (XAGUSD) has been showing signs of a rally in an impulsive structure from the low on 10.3.2023. This indicates a bullish momentum in the short term. Wave (1) ended at 25.91, followed by dips in wave (2) that ended at 21.94. The metal then surged higher in wave (3) towards 29.79, showcasing a positive
Silver recently surpassed $29.8, marking a new high from January 2021, but it encountered selling pressure at this level, leading to a pullback to $29.40. Despite this, silver does not appear to be overbought yet, with the RSI on daily timeframes just entering overbought territory. In the past month, silver experienced a three-week period of
The recent release of CPI figures has had a significant impact on the price of Bitcoin. With inflation slowing down and the possibility of a rate cut looming, the dollar has weakened, leading to an increase in the value of assets priced in dollars, such as BTC/USD. This spike in value has caused the price
Trading the cryptocurrency market can be a profitable venture for those who understand the market dynamics. One currency pair that has been showing bullish momentum is GBPCAD. In this article, we will analyze the recent price action of GBPCAD and discuss the potential future movements based on Elliott Wave analysis. Since late 2023, GBPCAD has
The Elliott Wave charts of Ethereum ETHUSD indicate incomplete sequences in the cycle from the March peak, suggesting more weakness in the short term. Ethereum is currently targeting the 2700.3-2057.9 area, presenting a potential buying opportunity for investors. Despite a recent 3-wave bounce, the crypto found sellers as expected, reinforcing the bearish outlook for the
The past few weeks have seen fluctuations in the price of crude oil, with support levels seen at $77 per barrel for WTI and $82 per barrel for Brent. There has been a period of consolidation since the second half of February, during which the price struggled to rise above the 200-day average. The recent
In this insightful analysis, we will delve into the Elliott Wave charts of Copper Futures HG_F, which have been exclusively shared with members on the website. The bullish trend in Copper, starting from the 3.6592 low, has caught the attention of traders, leading to a preference for long positions in the market. A recent 3-wave