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Dow Jones, S&P 500 Outlook: Retail Traders Boost Downside Exposure on Wall Street

Posted by By 04/04/2023Posted inForex
Retail traders continue increasing downside exposure on Wall Street, opening the door to further gains for the Dow Jones and S&P 500. But, key technical obstacles remain ahead.
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Crude Oil Price Steady After Stunning Run Higher on OPEC+ News. Where to for WTI?

Posted by By 04/04/2023Posted inForex
Crude oil prices are enjoying the view from new heights after an astonishing leap to start the week on the back of OPEC+ cutting their production targets. Will WTI recover…
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US Dollar Slide Fast Approaching Pivotal Support Zone After ISM Manufacturing Miss

Posted by By 03/04/2023Posted inForex
The US Dollar continued its slide, with disappointing ISM Manufacturing amplifying its selloff. This means the DXY Dollar Index is quickly approaching a pivotal area of support.
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Canadian Dollar Outlook: USD/CAD Breaks Down as Oil Soars, Trendline Support at Risk

Posted by By 03/04/2023Posted inForex
USD/CAD breaks below the psychological 1.3500 level on Monday and falls towards trendline support at 1.3420, the next important technical floor to watch in the near term.
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GBP/USD Defies Confluence Resistance, EUR/USD at Brink of Major Bullish Breakout

Posted by By 03/04/2023Posted inForex
GBP/USD and EUR/USD rally at the start of the week, supported by broad-based U.S. dollar weakness, with both pairs advancing towards key technical resistance levels at the time of writing.
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GBP/USD IG Client Sentiment: Our data shows traders are now at their least net-long GBP/USD since Dec 01 when GBP/USD traded near 1.23.

Posted by By 03/04/2023Posted inForex
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bullish contrarian trading bias.
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Gold Price Forecast: $1950 Holds Firm as Gold Starts NFP Week with a Bang

Posted by By 03/04/2023Posted inForex
Spot Gold has enjoyed a strong rally since tapping the $1950 mark this morning, but price action remains mixed. Will the $2000 handle remain a step too far for the…
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US Dollar (DXY) Pares Opening Gains After Rate Hike Expectations Move Higher

Posted by By 03/04/2023Posted inForex
The US dollar is giving back all this morning’s opening gains after this weekend’s OPEC+ output cut gave rate hike expectations a push higher.
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EUR/USD Recovers Above the 1.0800 Handle as Sentiment Improves

Posted by By 03/04/2023Posted inForex
EURUSD has rallied some 70-odd pips from its Asian session lows as the 1.0800 level remains pivotal. Where to next for EURUSD?
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USD/CAD Price Forecast: Cyclical Canadian Dollar Pauses at Key Technical Level

Posted by By 03/04/2023Posted inForex
USD/CAD teeters on the edge of a major support zone that if broken could see the loonie tumble. A big fundamental week lies ahead that could lead to such a…
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