Crude oil prices fell over 1% on Thursday and continue to correct lower ahead of the weekend. Brent crude is challenging the psychological support of $78, trading at nine-day lows just above $77. After the price derailed the $78 level, the short-term technical outlook has worsened further.
The latest sell-off came amid concerns that OPEC may wind down output...
The Trump administration has launched an investigation into car imports that could result in new US tariffs. Against this backdrop, the risk aversion has intensified and therefore fueled demand for safe haven assets. The Japanese yen is the main beneficiary in such environment, with the USDJPY pair has slipped from multi-month highs at 111.40, down to ten-day...
The greenback is back on the offensive across the board except for the yen and the Swissy which are in demand amid a broad risk aversion on the back of negative Trump’s comments on trade negotiations with China. The dollar resumed its ascent after a recent mild correction, and the bulls seem to be ready for another attack.
The short-term direction in USD...
The broad US dollar rally was halted yesterday, and the currency remains under a mild pressure on Tuesday. US 10-year Treasury yields hit one-week low of 3.05% today, down almost 8 basis points from the 7-year high of 3.128% reached last week.
The correction both in yields and the greenback looks logical from the technical point of view, as the buck is...
Gold prices hit five-month lows on Monday, as the bearish pressure on the safe haven metal has intensified after the reports that US and China decided to put the trade war “on hold”. Good news from this front fuelled demand for risky assets and pushed the greenback to fresh 2018 highs. Against this backdrop, the yellow metal broke below the previous lows around...
Brent touched fresh November 2018 highs yesterday. The price quickly jumped to $80,50 but failed to hold above the psychological $80 threshold and staged a correction which was purely technical by nature. On Friday, crude oil prices are oscillating above $79,50 area and struggle for direction after an aggressive rally.
Traders continue to assess the potential...
Over the last month, BTCUSD is trading within the $8,000-10,000 range. Since May 5, when the price bumped into the psychological resistance of $10,000, the coin is mostly nursing losses. Bitcoin crashed to almost $8,000 overnight and tries to regain ground on Thursday, but the pair obviously lacks the bullish impetus.
From the technical point of view, it...
BTCUSD tried to stage a recovery over the weekend, but failed to confirm a break above the 100-DMA around $8,800 and resumed the bearish move on Tuesday. Today, the price has lost around 6% already, and the sell-off could intensify, should the coin lose the key $8,000 mark.
There are no any fundamental drivers behind the current moves in the cryptocurrency market...
Spot gold is trading lower for a third day in a row on Tuesday, with recovery attempts failed amid the reemergence of dollar demand. The greenback makes a comeback due to another rise in the US Treasury yields above the key 3,00% mark. The yellow metal was rejected at the 100-DMA on Friday and resumed the downside move, probing the $1,310 level once again.
Despite...
Crude oil prices send corrective signals since late Friday. Last Thursday, Brent almost hit $78, its highest since November 2014. The bulls didn’t dare to challenge this psychological barrier which fuelled a partial profit taking at attractive levels. The question is whether the price has formed a top, or it’s just a pause before another bullish wave?
The recent...
The cryptocurrency market continues to suffer losses on Friday, with Bitcoin is down almost 4% on the day. The coin failed to keep above the key $9,000 threshold and slipped to April 26 lows at $8,676. Should this level give up, we may see a decline towards $8,400 and then to the $8,000 area.
Apart from the technical signals, which are getting more bearish after...
Crude oil prices refreshed late-2014 highs during the Asian hours on Thursday just below the $78 threshold. Now, it looks like Brent takes a pause after an aggressive rally on Trump’s decision to abandon the nuclear deal with Iran. After this step, which was widely expected, traders started to price in new sanction on Tehran and therefore the decline in Iranian...
Bitcoin is nursing losses for the fourth day in a row, with the price tried to challenge the key psychological support at $9,000 earlier on Wednesday. Still, the current retreat looks natural and quite logical, as a break above the $10,000 threshold, strengthened by the 200-DMA, is not an easy task for the bulls.
There are still no any significant drivers or...
The oil market is looking forward the Trump’s decision on Iran. Investors continue to wonder, if the US President will announce today that he withdraws from the Iran nuclear deal and reimposes sanctions against Tehran. Over the last month, traders were pricing in the decline in Iranian oil exports and these expectations, coupled with the continuing OPEC efforts,...
BTCUSD refreshed early-March highs over the weekend, but then corrected rather sharply and continues to retreat on Monday. The price reached the levels marginally below the key $10,000 barrier which is a magnet for bulls during the last couple of weeks. This level also coincides with the 200-DMA, so it’s even tougher to break to the upside.
Many market...
Following yesterday’s jump, bitcoin is trading with a bullish bias on Friday, with the $10,000 psychological level back in play. The price is back to mid-March highs around $9,800, but the buyers still hesitate to challenge the key barrier.
The latest wave of optimism in the cryptocurrency markets was due to Goldman’s announcement - one of the most well-known...
Crude oil prices struggle to stage a recovery after a correction from the fresh November 2014 highs close to $75. Brent is stuck around the $73 figure on Thursday, with the 20-DMA acts as support for bulls for the time being.
Traders hope that Trump will reimpose sanctions against Tehran which will lead to lower oil exports and production from Iran, in addition to...
Following a failed attempt to test the important $10,000 barrier, bitcoin shows some signs of a minor correction. However, the downside risks remain limited as long as the price clings to $9,000 and holds mainly above the 100-DMA around $8,900.
The bulls have retreated recently as the BTCUSD pair needs additional impetus to make a clear break above the mentioned...
