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USDCAD Struggles: Downtrend Deepening Or Temporary Dip?

USDCAD Struggles: Downtrend Deepening Or Temporary Dip?

USDCAD’s recent price action indicates continued weakness. This analysis examines the technical situation and explores potential scenarios for the currency pair. USDCAD Stuck in Downtrend: Falling Trend Line Resistance: A key technical indicator for USDCAD is the falling trend line on the 4-hour chart. As long as the price remains below this trend line, the downtrend that […]
Turkey, Iraq, Qatar, And UAE Signed A Transportation Agreement

Turkey, Iraq, Qatar, And UAE Signed A Transportation Agreement

Image Source: Pixabay  At Monday’s close, the Dow Jones Industrial Average (US30) was up 0.67%, while the S&P 500 Index (US500) added 0.87%. The Nasdaq Technology Index (US100) closed positive 1.11%. The US stock indices rose moderately, with the Dow Jones Industrials Index hitting a 1-week high. Yesterday, reduced geopolitical tensions helped stocks rise, as the exchange of strikes between Iran and Israel may […]
Fed’s Financial Stability Report Dropped (What You Need To Know)

Fed’s Financial Stability Report Dropped (What You Need To Know)

Image source: Pixabay  The Fed’s latest semi-annual report on financial risks contains a couple of important updates. First, we get a sense of where the systemic attempt to deal with the downside of the commercial real estate bubble stands. That also feeds into the most recent updates on US banks and the deteriorating credit environment. Plus, […]
Gold Commentary – Tuesday, April 23

Gold Commentary – Tuesday, April 23

Middle East Tensions SoftenGold prices are retreating sharply lower this week as traders react to a slight easing of tensions in the Middle East. Gold futures posting their largest one day decline yesterday since June 2021 and are now down more than 5% from the current highs. Fears of a wider conflict emerging have been […]
Weak Production In Poland Bodes Ill For Trading Partners

Weak Production In Poland Bodes Ill For Trading Partners

The March contraction in production seems weaker than the calendar effect would suggest, possibly reflecting weak exports and competition from cheap imports despite the recovery in domestic demand.Industrial production fell by 6.0% year-on-year in March (ING: -2.4%, consensus: -1.0%;) after increasing by 3.3% YoY in February (data not revised). In our opinion, the year-on-year decline was mainly due to the […]
Elliott Wave Technical Analysis: Silver – Tuesday, April 23

Elliott Wave Technical Analysis: Silver – Tuesday, April 23

Image Source: Pixabay  Silver Elliott Wave Analysis  Function -Trend Mode – Trend Structure – Impulse for (A) Position – Wave 3 of (A) Direction – Wave 4 of (A)  Details – Currently in wave 4 dip before further rallies for wave 5 of (A) higher. We should see one more leg lower for wave 4. Not much has […]
Solana And Cardano: Solana Continues Recovery Above $155.00

Solana And Cardano: Solana Continues Recovery Above $155.00

Solana chart analysisAt the start of this week, the price of Solana continued with the previous bullish consolidation. A new high was formed this morning at the $159.40 level. After that, we are looking at a pullback to the $153.00 level, where we encounter the EMA50 moving average. Here we expect to receive new support and move […]
Two Trades To Watch: FTSE, EUR/USD Forecast – Tuesday, April 23

Two Trades To Watch: FTSE, EUR/USD Forecast – Tuesday, April 23

Image Source: Unsplash  FTSE rises to a record high as the GBP struggles around a 5-month low Rate cut optimism lifts FTSE & pulls GBP lower UK services PMI data expected at 53 vs 53.1 in March FTSE rose to an all-time high The FTSE has risen to a fresh record high, boosted by weakness in […]
German Market Commentary – Tuesday, April 23

German Market Commentary – Tuesday, April 23

DAX Turning HigherThe DAX is attempting to push higher today, bolstered by some positive news in the earnings backdrop and dovish comments yesterday from ECB president Lagarde. On the earnings front, we saw Swiss pharma company Novartis lifting its full year guidance after better-than-forecast Q1 results. French car giant Renault also came in above forecasts […]
USD/CAD Price Analysis: Remains Subdued Near 1.3700 As US Dollar Slips

USD/CAD Price Analysis: Remains Subdued Near 1.3700 As US Dollar Slips

The USD/CAD pair remains feeble near the round-level support of 1.3700 in Tuesday’s European session. The Loonie asset comes under pressure as the US Dollar drops amid improvement in the risk appetite of the market participants.S&P 500 futures have posted some gains in the London session. The appeal for risky assets improves as investors see no further escalation in […]