USD/CAD Price Analysis: Buyers stepped in around weekly lows on risk aversion
on 26 November 2022, in News
The US Dollar stages a recovery on risk aversion spurred by the China Covid-19 crisis. USD/CAD bounced off weekly lows around 1.3300 and tested the 1.3400 mark. USD/CAD Price Analysis: The head-and-shoulders chart pattern remains intact. The US Dollar (USD) stages a recovery against the Canadian Dollar (CAD) amid a subdued trading session sparked by
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GBP/USD Price Analysis: Stumbles below 1.2100 on buoyant US Dollar
on 26 November 2022, in News
The Pound Sterling drops below 1.2000, set to finish the week with gains of more than 1.50%. GBP/USD: Failure to hold above 1.2100 exacerbated a fall toward the November 24 low of 1.2049. GBP/USD Price Analysis: A break below 1.2000 will exacerbate a fall towards 1.1800. The GBP/USD hovers below 1.2100 amid a subdued trading
Read more
WTI extends losses below $80.00 on buoyant US Dollar, China’s Covid woes
on 26 November 2022, in News
China’s coronavirus crisis weighs on WTI price, on speculations of lower demand. The Eurozone threatening to impose a cap on Rusian and a buoyant US Dollar keeps WTI defensive. WTI Price Analysis: A daily close below $80.00 could pave the way for a YTD low re-test. Western Texas Intermediate (WTI), the US crude oil benchmark,
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Bank of Canada could be close to the end of its current interest rate hiking cycle – RBC
on 26 November 2022, in News
The Bank of Canada (BoC) could be near the end of the interest rate hike cycle, point out analysts at RBC Capital Markets. They consider the BoC will hike by 25 basis points in December. Key Quotes: “Canada looks on track to deliver a GDP reading next week that’s just above our 1% (annualized) forecast
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Silver Price Analysis: XAG/USD limited while under $21.50, upside bias above $20.85
on 26 November 2022, in News
Silver falls modestly on Friday, holds above key support levels. Technical outlook presents a bullish bias but upside seems limited while under $21.50. Break under $20.85 likely to increase bearish pressure. Silver is falling on the last day of the week. It bottomed during the American session at $21.14 and then quickly bounced back above
Read more
Gold Price Forecast: XAU/USD to struggle amid prospects of more tightening – ANZ
on 26 November 2022, in News
Recent weakness in the USD saw Gold price testing $1,780. But the Federal Reserve’s commitment to bringing inflation down with tighter monetary policy leaves room for gains in the greenback, strategists at ANZ Bank report. Fed to hike another 100 bps “Softer than expected inflation in the US triggered a sell-off in the US Dollar,
Read more
AUD/USD drops from weekly highs around 0.6780s, on mixed mood
on 26 November 2022, in News
The Australian Dollar is on the defensive due to mixed sentiment. Federal Reserve: US growth risks are skewed to the downside, capping the US Dollar gains. Next week: RBA and Fed officials’ speeches will give direction to the AUD/USD. The Australian Dollar (AUD) losses ground vs. the US Dollar (USD) amid a mixed sentiment, with
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EUR/USD to reach levels of up to 1.10 in 2023 – Commerzbank
on 26 November 2022, in News
Economists at Commerzbank have changed their EUR/USD forecast. The pair is now expected to reach the 1.10 level in the coming year. Not another USD year “With the Fed’s expected interest rate turnaround, this is unlikely to remain the case in 2023.” “If the ECB refrains from cutting interest rates next year – as we
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USD/JPY holds above 139.00, heads for weekly loss
on 26 November 2022, in News
Japanese yen weakens amid higher government bond yields. US Dollar Index rises 0.55% on a quiet low-volume session. USD/JPY heads for weekly loss despite Friday’s gains. The rally of USD/JPY was capped by the 139.50/60 area. Near the end of the week, the pair holds firm above 139.00 supported by rising sovereign bond yields as
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Silver Price Analysis: Substantial upside potential for XAG/USD – Commerzbank
on 26 November 2022, in News
The Silver Institute and Metals Focus published new figures showing supply and demand in the global Silver market a week ago. Accordingly, strategists at Commerzbank expect the precious metals to enjoy a substantial up move. Supply deficit on Silver market due to record-high demand “Silver demand is set to surge to a record 1.21 billion
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News
USD/CAD Price Analysis: Buyers stepped in around weekly lows on risk aversion
on 26 November 2022, in News
The US Dollar stages a recovery on risk aversion spurred by the China Covid-19 crisis. USD/CAD bounced off weekly lows around 1.3300 and tested the 1.3400 mark. USD/CAD Price Analysis: The head-and-shoulders chart pattern remains intact. The US Dollar (USD) stages a recovery against the Canadian Dollar (CAD) amid a subdued trading session sparked by
Read more
GBP/USD Price Analysis: Stumbles below 1.2100 on buoyant US Dollar
on 26 November 2022, in News
The Pound Sterling drops below 1.2000, set to finish the week with gains of more than 1.50%. GBP/USD: Failure to hold above 1.2100 exacerbated a fall toward the November 24 low of 1.2049. GBP/USD Price Analysis: A break below 1.2000 will exacerbate a fall towards 1.1800. The GBP/USD hovers below 1.2100 amid a subdued trading
Read more
WTI extends losses below $80.00 on buoyant US Dollar, China’s Covid woes
on 26 November 2022, in News
China’s coronavirus crisis weighs on WTI price, on speculations of lower demand. The Eurozone threatening to impose a cap on Rusian and a buoyant US Dollar keeps WTI defensive. WTI Price Analysis: A daily close below $80.00 could pave the way for a YTD low re-test. Western Texas Intermediate (WTI), the US crude oil benchmark,
Read more
Bank of Canada could be close to the end of its current interest rate hiking cycle – RBC
on 26 November 2022, in News
The Bank of Canada (BoC) could be near the end of the interest rate hike cycle, point out analysts at RBC Capital Markets. They consider the BoC will hike by 25 basis points in December. Key Quotes: “Canada looks on track to deliver a GDP reading next week that’s just above our 1% (annualized) forecast
Read more
Silver Price Analysis: XAG/USD limited while under $21.50, upside bias above $20.85
on 26 November 2022, in News
Silver falls modestly on Friday, holds above key support levels. Technical outlook presents a bullish bias but upside seems limited while under $21.50. Break under $20.85 likely to increase bearish pressure. Silver is falling on the last day of the week. It bottomed during the American session at $21.14 and then quickly bounced back above
Read more
Gold Price Forecast: XAU/USD to struggle amid prospects of more tightening – ANZ
on 26 November 2022, in News
Recent weakness in the USD saw Gold price testing $1,780. But the Federal Reserve’s commitment to bringing inflation down with tighter monetary policy leaves room for gains in the greenback, strategists at ANZ Bank report. Fed to hike another 100 bps “Softer than expected inflation in the US triggered a sell-off in the US Dollar,
Read more
Education
Technical analysis
USD/ZAR intraday: target 16.8630
Our pivot point stands at 17.1930. Our preference: target 16.8630. Alternative scenario: above 17.1930, look for 17.3110 and 17.3820. Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its
USD/ZAR intraday: target 16.8630
Our pivot point stands at 17.1930. Our preference: target 16.8630. Alternative scenario: above 17.1930, look for 17.3110 and 17.3820. Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its
USD/SGD intraday: target 1.3670
Our pivot point is at 1.3791. Our preference: target 1.3670. Alternative scenario: the upside breakout of 1.3791, would call for 1.3835 and 1.3861. Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under
USD/ZAR intraday: rebound towards 17.4760
Our pivot point stands at 17.1310. Our preference: rebound towards 17.4760. Alternative scenario: the downside breakout of 17.1310 would call for 17.0080 and 16.9340. Comment: the RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its
USD/SGD intraday: the upside prevails as long as 1.3703 is support
Our pivot point is at 1.3703. Our preference: the upside prevails as long as 1.3703 is support. Alternative scenario: the downside breakout of 1.3703 would call for 1.3659 and 1.3633. Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the
NZD/USD intraday: the downside prevails as long as 0.6184 is resistance
Our pivot point stands at 0.6184. Our preference: the downside prevails as long as 0.6184 is resistance. Alternative scenario: the upside breakout of 0.6184, would call for 0.6227 and 0.6253. Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the
Daily Market Comment
CIX 7847 en DMB 2022-11-25
Here are today’s directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend! Daily Market Brief November 25, 2022 Here are today’s directional
CIX 7835 en DMB 2022-11-24
Here are today’s directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend! Daily Market Brief November 24, 2022 Here are today’s directional
CIX 7823 en DMB 2022-11-23
Here are today’s directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend! Daily Market Brief November 23, 2022 Here are today’s directional
CIX 7811 en DMB 2022-11-22
Here are today’s directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend! Daily Market Brief November 22, 2022 Here are today’s directional
CIX 7799 en DMB 2022-11-21
Here are today’s directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you. Like what you see? Feel free to forward this to a friend! Daily Market Brief November 21, 2022 Here are today’s directional
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