USD/RUB and USD/MXN: bouncing downwards
Let's trade exotics. The Russian ruble and the Mexican peso may gain some value against the US dollar in the short-term.
OIL price: bad for stability, good for profits
Information is not investment advice
Looking at the hourly chart of the WTI oil price below, one may come to only one conclusion: the price of this asset is far from being stable. Well, for trading purposes, it’s rather good news. What are the prospects though?
The prospects are pretty much the same as what the headlines say most of the time: the virus hits new records around. For OPEC, and for the oil market in general, that means suspended demand recovery. Do you see that large shadow of the bearish candle over there extending down to $35? Well, don’t rub your eyes – it was a temporary but still a real dropdown in the trade. Nothing happened, just another “phantom” pain of the oil market. It’s really not that stable even with the price handing below $43. OPEC’s last meeting only highlight the plan to keep the production capacities subdued before the demand picks up enough to go on full gear. Therefore, watch your support probably more carefully than you do the resistance levels with oil.
Gaspar Markosyan
Similar
Gold: no rush to the upside
Getting down to 1 845, gold seems to be in no hurry to reach the peaks it left recently. No problem, we can wait...
Dollar regains some ground
President Joe Biden is expected to sign a new “Buy American” order, underlining the essential continuity of US trade policy despite the radical change of tone expected from Donald Trump’s administration.
Popular
USD/RUB and USD/MXN: bouncing downwards
Let's trade exotics. The Russian ruble and the Mexican peso may gain some value against the US dollar in the short-term.
Gold: no rush to the upside
Getting down to 1 845, gold seems to be in no hurry to reach the peaks it left recently. No problem, we can wait...
HSBC: "outlook for GBP is not promising"
The UK multinational investment bank HSBC advised its clients to sell the pound in 2021.
Choose your payment system
