AUD/USD has dipped back near the 0.7500 level as the US dollar strengthens after the release of the Fed minutes. That means the pair is now down more than 1.0% on the day, with stocks bearish and commodity prices weighing on their men. The US dollar is rising on the heels of the release of […]
Tag: Commodities
XAG/USD looks vulnerable near 1-week low just above $24.00
-637848422679565199.png "XAG/USD looks vulnerable near 1-week low just above .00")
Silver moves lower for the fifth day in a row and falls to a one-and-a-half week low. The setup points to prospects of a drop to retest levels below $24.00, March lows. Sustained strength above the $25.00 level is needed to negate the bearish picture. Silver price (XAG/USD) is extending the previous day’s rejection move […]
WTI Redefends 50-Day SMA Amid New Sanctions on Russia
WTI price is rebounding as sanctions on Russia offset covid risks in China. A stronger US dollar from aggressive Fed tightening could cap the rally. The WTI price needs to break out of the range between the 21 and 50 day SMAs. WTI (NYMEX futures) is rallying above $101.00, having found strong buying once again […]
Dollar rally continues on rising yields, focus on FOMC minutes
This is what you need to know to trade today Wednesday April 6: Buoyed by aggressive comments from the Fed and upbeat data releases, the US dollar index DXY has advanced to its highest level in almost two years first thing on Wednesday. The FOMC will release the minutes of its March monetary policy meeting […]
XAG/USD remains in gains near $24.60-$65 zone, bearish bias remains
-637847497651253241.png "XAG/USD remains in gains near .60- zone, bearish bias remains")
Silver gained some positive traction on Tuesday and snapped a three day losing streak. The mixed technical setup warrants some caution before positioning yourself for any other advantage. A sustained move beyond $25.00 is needed to support any short-term positive bias. the silver built on the overnight bounce from the $24.30-$24.25 region and gained some […]
XAU/USD under pressure near $1,930 amid firmer USD
Gold price attempts a rebound amid mixed market sentiment and a rally in US Treasury yields. The West will punish Russia as the USD maintains its recent advance ahead of the ISM Services PMI. Gold price lacks clear directional bias as focus shifts to Fed minutes. Gold price is attempting a bounce back to the […]
Global Market Rally Halts A Day After Upbeat Vaccine News
After upbeat vaccine news from Moderna about a potential Covid-19 vaccine, global markets rallied Monday. However, they went flat Tuesday as investors considered the uncontrollable short-term spread of the virus.
