WTI crude oil seems to be off to a positive start to 2025, but it looks like a correction from its rally is due. Can it find support at these inflection points? WTI Crude Oil (USOIL) 4-hour Chart by TradingView Before 2024 came to a close, crude oil busted through its near-term resistance around the $71 per barrel mark…
Prior 38.0 This article was written by Justin Low at www.forexlive.com.
Here is what you need to know on Tuesday, January 7: The US Dollar (USD) came under selling pressure at the beginning of the week as risk flows dominated the action. Eurostat will publish December inflation data in the European session on Tuesday. Later in the day, ISM Services PMI report for December and JOLTS Job Openings data for…
2025.01.07 2025.01.07 Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 07.01.2025 Roman Oneginhttps://www.litefinance.org/blog/authors/roman-onegin/ Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis. The article covers the following subjects: Major Takeaways BTCUSD: An ascending correction B is expected to develop within a triangular correction (4). Consider long positions from the current level…
Positive Euro Area reports and overall U.S. dollar weakness helped prop EUR/USD higher from its weekly lows. The pair is now testing a key resistance zone, which ups the odds of EUR/USD extending a longer-term trend. We’re taking a closer look at the pair’s 4-hour time frame! EUR/USD 4-hour Forex Chart by TradingView In case you missed it, service…
The Treasury department is out with a statement saying that Yellen raised the matter of “malicious” cyber activity carried out by Chinese state-sponsored actors in said meeting. Adding that there was an unspecified amount of computers at the Treasury that had been compromised by Chinese hackers last month. That occurred after a breach of its contractor, BeyondTrust. There were…
WTI continues to decline despite rising energy demand fueled by colder weather and Beijing’s economic stimulus efforts. Oil prices could gain support as OPEC’s oil production fell in December, largely driven by the UAE’s supply cuts. Biden administration plans to impose further sanctions to target Russian Oil revenues. West Texas Intermediate (WTI) Oil price extends its losses for the…
2025.01.06 2025.01.06 Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 06.01.2025 Roman Oneginhttps://www.litefinance.org/blog/authors/roman-onegin/ Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis. The article covers the following subjects: Major Takeaways BTCUSD: An ascending correction B is expected to develop within a triangular correction (4). Consider long positions from the current level…
The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently…
GBP/USD caught a bid on Monday, rising 0.7%. PMI figures came in softer on both sides of the Atlantic. Easing Greenback flows gave Cable a chance to catch its breath. GBP/USD extended into its second day of gains in a row, kicking off the new trading week gaining seven-tenths of one percent and dragging bids back above the 1.2500…
