BTC Bulls Eye Higher Targets Despite Price Dip
Solid ECN – Bitcoin broke out of the descending trendline (in blue), but the bulls failed to stabilize the price above the EMA 50 and the middle line of the Bollinger Band. Consequently, the pair formed a long-wick bearish candle on the daily...
Economic Indicators Show Growth and Stability in Mexico
Solid ECN – The Mexican peso has rallied to approximately 16.8 per USD, marking a significant rebound from its five-month trough of 17.2 on April 25th. This upturn is primarily attributed to a widespread weakening of the U.S. dollar...
Canadian Dollar Climbs as US Jobs Disappoint
Solid ECN – The Canadian dollar peaked at 1.36 per USD, marking its strongest position since April 9th. This surge comes as the U.S. dollar experiences widespread weakness triggered by disappointing labor market data.
The U.S. economy added...
Silver Prices Bounce Back
Solid ECN – Silver prices have risen above $27 per ounce after a dip to one-month lows near $26.3 last week. This rebound aligns with other precious metals and reflects investor anticipation of a possible interest rate cut by the Federal Reserve in September.
The...
Oil Prices Stabilize Amid Geopolitical Tensions
Solid ECN – WTI crude futures remained steady, trading at approximately $77 per barrel as of Tuesday. This stability comes despite the market being close to its nearly two-month low of $78.1, recorded on May 3rd. The current price balances...
USDMXN - Banxico Rate Decision Looms
Solid ECN—The Mexican peso has shown remarkable resilience. It is trading at approximately 16.8 per USD, a significant recovery from its five-month low of 17.2 recorded on April 25th. This improvement is largely due to a weakened U.S. dollar, spurred by...
USDCAD - Canadian Dollar Surge
Solid ECN – The Canadian dollar recently hit a high of 1.36 USD, marking its strongest position since early April. This rise comes amid a widespread weakening of the U.S. dollar, driven by disappointing labor statistics from the U.S. The data showed only 175,000...
NZ Dollar Dips Amid US Stability
Solid ECN – The New Zealand dollar recently fell to $0.6 against a stabilizing US dollar. This shift came as fresh economic indicators suggested a potential cut in US interest rates later this year. Concurrently, the Kiwi mirrored the Australian dollar's...
Gold Prices Rise Amid Fed Speculations
Solid ECN – Gold prices climbed to $2,310 per ounce on Monday, rebounding from a near one-month low. This surge is influenced by anticipation of upcoming remarks from Federal Reserve officials, which traders are eyeing for hints about potential interest...
Oil Prices Rebound on Supply Cuts
Solid ECN—WTI crude oil futures rose above $78.5 per barrel on Monday, rebounding from a near two-month low of $78.1. This uptick is attributed to new developments suggesting a decrease in supply. Notably, Saudi Aramco increased the official selling price of...
Pound Hits $1.26 as U.S. Jobs Disappoint
Solid ECN – The British pound has risen to its highest value since early April, reaching $1.26, as U.S. employment data fell below expectations, prompting a shift in interest rate forecasts for 2024. This surge comes as traders adjust their expectations...
US Jobs Data Weakens Dollar
Solid ECN – The euro recently climbed towards $1.08, reaching its highest since April 9th. This rise comes as traders adjusted their forecasts for potential cuts in interest rates, influenced by a surprisingly weak US jobs report. The latest figures showed that the...
NZDUSD - Awaiting RBA's Impact on NZ Policy
Solid ECN – The New Zealand dollar, commonly referred to as the NZD, has seen a notable increase, surpassing the $0.59 mark. This resurgence comes after a period of losses earlier in the week. The uplift was triggered by a retreat in the US dollar...
Gold Prices Steady as Investors Wait
Solid ECN – Gold prices remained stable at around $2,300 per ounce this Friday, marking the lowest level in four weeks. Investors are maintaining caution as they await the release of the US non-farm payroll data later today. This significant economic...
Bitcoin Analysis: Resistance Turned Support Insight
Solid ECN–Bitcoin trades in the bearish channel, as shown in the BTCUSD daily chart. Bears managed to close below the $59,598 resistance and are stabilizing the price below this level. As of writing, the BTCUSD pair trades near the broken...
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