Energies
Gold continues to climb higher as the trade war heats up after both the U.S. and China raised their tariffs. Gold reached a new all-time-high early Friday after Thursday’s CPI numbers from the U.S. showed lower than expected inflation.
Staying above the support level of $3,167 could push prices even higher. A correction towards MA(5) and MA(10) is anticipated before continuing higher.
Oil rebounds as Trump’s pause on tariffs brings hope for avoiding a recession
Since last week, oil prices have experienced significant volatility due to the escalating trade tensions and shifting global supply dynamics. West Texas Intermediate dropped below $60 per barrel for the first time in four years, reaching lows around $56.06 before rebounding to approximately $62.35.
Key support level to be monitored is $54.80, which represents the weekly low. However, if prices continue to rise, a strong resistance level is noted near $63.70.
Cooling inflation in the US pushes EURUSD pair higher
EURUSD continued to climb higher for the second consecutive day thanks to CPI numbers coming out of the U.S. which showed inflation slowing down more than expected. The pair gained 5% in the last two days nearing the 1.1500 psychological level. With RSI reaching the overbought zone, we have to remain cautious and on the look for a deeper correction towards 1.1145 level.
Tags
Open Live Account
Please enter a valid country
No results found
No results found
Please enter a valid email
Please enter a valid verification code
1. 8-16 characters + numbers (0-9) 2. blend of letters (A-Z, a-z) 3. special characters (e.g, !a#S%^&)
Please enter the correct format
Please tick the checkbox to proceed
Please tick the checkbox to proceed
Important Notice
STARTRADER does not accept any applications from Australian residents.
To comply with regulatory requirements, clicking the button will redirect you to the STARTRADER website operated by STARTRADER PRIME GLOBAL PTY LTD (ABN 65 156 005 668), an authorized Australian Financial Services Licence holder (AFSL no. 421210) regulated by the Australian Securities and Investments Commission.
CONTINUEError! Please try again.
