Technical analysis - Page 457

The gold chart has played out as a double top with a break under 1300.00 signalling a move down to 1240.00 from its highs at 1365.00. We have now reached the 1250.00 area and some profits are likely to be taken from.

The rise in the USD against the MXN has been halted with a push down from resistance ahead of 21.00000 to the 50 DMA at 19.77420. Today the price is holding under 20.00000 after bouncing from the 50 DMA yesterday..

The Organisation of the Petroleum Exporting Countries (OPEC) concluded its meeting in Vienna last week by agreeing to raise output from July by about 0.6 to 0.8 million bpd, however, the real increase will be somewhat less as some countries.

The US indices are set to start the week with losses as trade tensions escalate. President Trump tweeted on Sunday that trading partners should remove their “trade barriers and tariffs or be met with more than reciprocity by the U.S.”..

This pair is testing its weak support trend line also after rejecting from the 84.500 area early in the month. The pair moved lower today on fresh fears of an escalation in the trade war between the US and China.

The USDCAD pair has been trading over the past week with one eye on the OPEC meeting in Vienna. When the announcement was made on Friday that production levels would remain on hold with a greater focus on compliance, the pair moved.

Crude oil is set to enter a volatile period with the start of the OPEC meeting in Vienna on Friday. Traders should also remain alert to market moving headlines ahead of the meeting as ministers from OPEC members are attending.

The Australian Dollar fell to a one-year low on Tuesday after the release of the minutes from the latest Reserve Bank of Australia (RBA) monetary policy meeting and escalation of the trade war between US and China. The minutes from.

The AUDJPY pair was hammered overnight as US President Trump announced his wish to impose a further $200 Billion worth of tariffs on trade with China. The Australian economy is largely dependent on exports of raw materials to China and.

The Oil market is on the back foot at present after a large decline on Friday from the highs at $67.00. The selloff came in advance of the OPEC meetings this week where production cuts are to be discussed. Trade.

The UK 100 Index is moving lower again today after a horrid selloff on Friday. The retracement from the high at 7900.00 on the 22 of May merged into a sideways consolidation pattern if not an outright bear flag over.

Cryptocurrencies got a lift from some positive news after a week of continued declines with the market capitalisation dropping to $284bn. The US Securities and Exchange Commission (SEC) clarified that Bitcoin and Ethereum are not considered securities under the law..