Author: FX

Heads up, gold bugs! The precious metal is in a holding pattern these days, which means that it could be bracing for a big move soon. Here’s what you should watch out for. Gold (XAU/USD) 1-hour Chart Check out gold’s higher lows and lower highs! The commodity price is consolidating inside a symmetrical triangle on its hourly time frame and is currently testing support. A break lower could take it down by the same height as the chart pattern, which spans $1,950 to around $2,000 per ounce. In other words, a move below these current levels ($1,960) could take the…

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© Reuters. FILE PHOTO: FILE PHOTO: A security guard stands outside of the entrance of the Silicon Valley Bank headquarters in Santa Clara, California, U.S., March 13, 2023. REUTERS/Brittany Hosea-Small/File Photo/File Photo By Ann Saphir SAN FRANCISCO (Reuters) – A team of 20 bank examiners at the San Francisco Federal Reserve took over day-to-day supervision of Silicon Valley Bank in the second half of 2021, after the bank’s growth pushed its assets above the $100 billion mark that triggers more intense oversight. Soon after, supervisors began calling out problems at the bank, but only internally. None were made public until…

Looking for short or long-term trades today? Either way, I got you covered with Ether (ETH/USD) testing a range resistance and AUD/CAD flirting with a downside breakout. Which of these setups will you more likely trade? Ether (ETH/USD) 1-Hour Chart by TradingView Ether has been ranging between $1,720 and $1,840 for almost two weeks now, and it looks like the ball is on the bears’ court! That is, ETH/USD is almost at the top of the range and the most recent candlesticks are suggesting that the pair will soon retest the resistance zone. Think ETH/USD will stick to its range?…

Crude Oil, WTI, US Jobless Claims, Technical Analysis- Talking Points:Crude oil prices fell on Wednesday after softer Fed energy reportAn unexpected surge in US jobless claims remains a threat to WTIMeanwhile, the 4-hour chart reveals a Bear Flag that is brewing Recommended by Daniel Dubrovsky How to Trade Oil WTI crude oil prices fell about 1% on Wednesday, although the commodity is on course to rise about 5% this week. Broadly speaking, sentiment-linked oil diverged from what was a broader improvement in risk appetite. On Wall Street, the tech-heavy Nasdaq 100 rallied 1.8%, closing at the highest since the end…

The U.S. dollar is having a mid-week crisis! Okay, “crisis” might be an exaggeration. But the U.S. dollar index (DXY) did see a mid-week reversal! U.S. Dollar Index (DXY): 1-hour U.S. Dollar Index (DXY) 1-Hour Forex Chart by TradingView Just as the index was extending a downtrend that started on March 8, enough bulls stepped in and defended the 102.40 level. DXY is now trading closer to 102.80, which is right back at a descending channel resistance on the 1-hour time frame. What’s more, the level also lines up with a key support zone from mid-February. Last but not the…

China’s Premier Li Qiang is speaking at the Boao Forum, plenty of reassuring comments. To achieve greater success, chaos and conflicts must not happen in AsiaOtherwise the future of asia will be lostWe need to implement the gsi, uphold the vision of comprehensive security and oppose unilateral sanctions Oppose taking sides, forming blocs and new cold warFurther liberalise global trade and investmentKeep global supply chains stable and smoothInject strong dynamism into the global economyOppose trade protectionism and decouplingThe issues facing humanity need to be addressed through consultation with allWe need to send a positive signal of upholding multilateralism to make…

Share: USD/CAD bulls eye a move towards neckline resistance.  Bears seek a continuation and break of support to open 1.3450. The Canadian Dollar strengthened to its highest level in nearly four weeks against the Greenback on Wednesday as a recovery in risk appetite supported the currency. However, there are prospects of a correction at this juncture as the following technical analysis illustrates.  USD/CAD weekly chart As seen, USD/CAD is meeting a support area and leaving behind an M-formation which is a reversion pattern and would be expected to see the price return to the neckline for a retest in…

Lyra Therapeutics GAAP EPS of -$1.83 misses by $0.05, revenue of $1.36M Source link

S&P 500 TECHNICAL OUTLOOK:U.S. stocks rally as market sentiment continues to improveThe S&P 500 jumps 1.42% and comes within striking distance of clearing a key technical resistanceAll eyes on the February PCE report due out Friday Recommended by Diego Colman Get Your Free Equities Forecast Most Read: S&P 500 and Nasdaq 100 Gain Ground Amid Improved Market OutlookThe S&P 500 rallied on Wednesday after a subdued performance on Tuesday, bolstered by risk-on sentiment as market worries about stress in the U.S. banking sector continued to ease in response to decisive measures by U.S. authorities and the Fed to shore up…