On Wednesday, silver saw some selling for the third day in a row. Acceptance below the 50 DMA supports the prospect of further losses. Any recovery attempt could now be seen as a selling opportunity. the silver struggles to take advantage of the late bounce from the previous day and finds fresh offers near the […]
Tag: Commodities
Forex Today: Markets Turn Cautious, Focus on US Retail Sales and FOMC Minutes
This is what you need to know to trade today Wednesday, August 17: Following Tuesday’s choppy action, the Dollar Index regained its traction early on Wednesday and climbed above 106.60 with investors turning cautious. The data of the Gross Domestic Product of the eurozone for the second quarter will be the protagonists of the European […]
Silver Price Analysis: Chance to break below $20.00, vulnerable near 50 DMA
Silver loses ground for the second day in a row and falls to a one-week low. The drop marks a bearish break below a one-week trading range. The bears still have to wait for a sustained break below $20.00 before making further bets. the silver witnesses selling for the second day in a row on […]
Forex Today: Dollar Recovery Halts Before Housing Data
This is what you need to know to trade today tuesday august 16: The dollar is relatively quiet early on Tuesday as markets await the next major catalyst. The Dollar Index gained more than 1% in the two-day rally that started on Friday and was last seen moving sideways near 106.50. The results of the […]
Oil Futures: Door Open to Further Weakness
Preliminary data from CME Group for crude oil futures markets indicates that traders added about 2,500 contracts to their open interest positions on Friday, marking the second consecutive daily increase. Volume, on the other hand, was noticeably down by around 245,300 contracts after three consecutive daily increases. WTI remains capped by the 200-day SMA Barrel […]
Silver Price Analysis: XAG/USD rally to $20.50, retrace much of Thursday’s decline
Silver attracts new buying near the 50 DMA and reverses a significant portion of overnight losses. The technical setup remains tilted in the bulls’ favor and supports the prospects for further gains. A sustained break below $20.00 is needed to negate the positive short-term outlook. the silver It shows some resistance below the 50% Fibonacci […]
Gold Price Forecast: XAU/USD remains on the defensive amid modest dollar strength
Gold is moving lower for the third day in a row amid a modest rebound in demand for the dollar. Risk appetite puts some downward pressure on the safe-haven yellow metal. Uncertainty about the magnitude of further rate hikes caps the dollar and offers support. The Prayed enters negative territory for the third day in […]
Forex Today: Markets turn choppy ahead of the weekend
This is what you need to know to trade today friday august 12: The risk rally that was fueled by weaker-than-expected US inflation data in the middle of the week lost its steam and market action turned choppy heading into the weekend. The DXY dollar index trades sideways in a tight range above 105.00, the […]
Gold Forecast: XAU/USD Rises Amid USD Weakness, Risk Appetite Limits Gains
Gold attracts some buying and rises to the $1,800 area amid sustained dollar selling. Diminishing odds of a further Fed rate hike and declining US bond yields continue to weigh on the dollar. The boost in risk appetite seems to be the only factor limiting the rise in the safe-haven commodity. The Prayed reverses an […]
Natural Gas Futures: Rebound Could Lose Traction
Open interest in natural gas futures markets continued the downward trend and fell by just 169 contracts on Wednesday, according to preliminary readings from the CME Group. On the other hand, volume resumed its upward trend and rose by some 53,400 contracts, partially offsetting the previous drop. Natural Gas remains supported around $7.50 Natural gas […]