Joshua

Silver appears to be struggling to capitalize on its modest intraday rally on Wednesday. Acceptance above the 200 hourly SMA supports the prospects for some significant gains. A sustained break below the $21.00 level is needed to negate the positive outlook. Silver (XAG/USD) rises on Wednesday, although it lacks bullish conviction and remains below the […]

The GBP/USD is now facing a short-term consolidation between 1.1850 and 1.2080as suggested by the UOB Group economist Lee Sue Ann and the Market Strategist Quek Ser Leang. Featured Comments 24 hour view: “Yesterday we highlighted that ‘GBP/USD oversold weakness could extend to 1.1915 before stabilization is likely’”. Our expectation failed to materialize as GBP/USD […]

USD/JPY lacks firm direction and is trading between tepid gains and minor losses on Wednesday. The pullback in US bond yields keeps dollar bulls on the back foot and acts as a headwind for the pair. The divergence between Fed and BoJ policy continues to provide support ahead of US data and Powell’s speech. The […]

This is what you need to know to trade today Wednesday November 30: Markets are relatively quiet on the last trading day of November as investors remain on the sidelines awaiting key data releases. After having closed the first two days of the week in positive territory, the dollar index is trading in a tight […]

In the opinion of the economist UOB GroupLee Sue Ann, and market strategist, Quek Ser Leang, expects EUR/USD to trade between 1.0260 and 1.0430 in the coming weeks. 24 hour perspective: “Yesterday we held the view that the euro could fall to 1.0300. However, the single currency traded between 1.0318 and 1.0394 before closing slightly […]

WTI bears are moving at a critical juncture. A break of horizontal support exposes the downtrend. West Texas Intermediate it is up more than 2.45% at the time of writing, and has ranged from a low of $76.03 to $79.61. The price has consolidated at the top of a channel and on the previous day’s […]

The mixed sentiment was no excuse for the Australian dollar to appreciate against the US dollar. Investors continue to value the latest hawkish comments from the Federal Reserve. The Fed’s Williams commented that the rate path is higher than the September projections. Chinese authorities urged local governments to avoid lockdowns and pledged to vaccinate older […]

Here’s what to know for Wednesday, November 30: Risk markets are in a state of uncertainty as the end of the month approaches, before Fed Chairman Powell talks about the economy on Wednesday and US Nonfarm Payrolls on Friday. Risk appetite had worsened on Monday after protesters and police clashed over tight COVID restrictions, supporting […]

GBP/USD is below key trend line resistance and the neckline of the head and shoulder pattern. The bias remains firmly to the downside with an eye on 1.1900. Based on the above analysis, GBP/USD remains falling below 1.2000, GBP/USD remains lower as it picks up bearish momentum and supports a bearish structure below the key […]

The silver price is rallying and is facing resistance at the 200 day EMA. The US dollar has received offers of late, courtesy of deteriorating sentiment. Silver Price Analysis: Break below the 1-month uptrend line. The price of silver is regaining some ground against the US dollar (USD), rising around 1.50% on Tuesday, as sentiment […]