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DXY: The DXY (US Dollar Currency Index) chart currently demonstrates a bullish overall momentum, indicating strength in the US Dollar. Your analysis suggests that there is potential for a bullish continuation in the price towards the 1st resistance level. The 1st support level at 103.10 is considered significant as it represents an overlap support, indicating […]

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02/05/2024

US: Manufacturing Slips Back into Contraction in April, But Price Pressures Pick Up

The ISM Manufacturing Index slipped back into contractionary territory in April, dipping to 49.2, from 50.3 in March. Even so, 9 of 16 industries reported growth in April – the same as in March. Demand softness was reflected by the new orders and new export orders sub-indices both flipping back into contraction, after pointing to […]
22/02/2024

WTI Oil: Price Eases Further, as US Rate Outlook Offsets Persisting Middle East Worries

WTI Oil extends pullback into second consecutive day after recent rally repeatedly failed to clearly break pivotal Fibo barrier at $78.13. Subsequent easing is generating an initial signal of reversal and formation of a lower platform at $78.50 zone, as fresh bears broke below 200DMA ($77.65) and converged 10/100DMA’s ($77.12), though close below these levels […]
17/06/2024

Gold’s Rise Might be a Trap

Gold is adding on Friday, and it appears that a flight to defensive assets, rather than the risk appetite that drove the price earlier this year, is behind it. Since the start of the week, gold has twice pushed off support at $2300, where the round price level and the 76.4% retracement level from the […]