2022-11-15 09:47

Market Update - 15 November 2022 EUR/USD regains the upside and surpasses 1.0400 on Tuesday. The dollar plummets to new 3-month lows near 106.00. ECB’s Villeroy opened the door to more flexible rate hikes. The rapid drop in the dollar allows EURUSD to climb to fresh 4-month peaks past 1.0400 on turnaround Tuesday. (FXStreet) GBP/USD refreshes intraday high around the 11-week top after the mixed British jobs report. UK’s Claimant Count Change offered a positive surprise but Unemployment Rate increased. US Dollar’s retreat amid sluggish markets also underpins recovery moves. Risk catalysts could entertain intraday traders ahead of the US PPI. (FXStreet) USD/CAD comes under some renewed selling pressure on Tuesday amid modest USD weakness. Bearish crude oil prices might undermine the Loonie and help limit the downside for the major. Investors now look to the US macro data and speeches by FOMC members for a fresh impetus. (FXStreet) USD/JPY picks up bids to extend the week-start rebound from 2.5-month low. Clear break of 50-HMA, two-day-old descending trend line keeps buyers hopeful. Confluence of 100-HMA, Friday’s peak tests further upside momentum. (FXStreet) US Dollar Index stays defensive after the previous day’s rebound from a three-month low. Fed policymakers highlight pivot talks, inflation concerns to favor the DXY. China data dump and risk catalysts are essential for clear directions. Buyers could cheer hopes of firmer rate hike, indecision over inflation concerns ahead of the key US statistics. (FXStreet) USD/CHF slides back closer to the YTD low amid the emergence of fresh USD selling. Bets for less aggressive Fed rate hikes, sliding US bond yields weigh on the greenback. A positive risk tone could undermine the safe-haven CHF and help limit the downside. (FXStreet) AUD/USD rallies to over a two-month high amid the emergence of fresh USD selling. Bets for less aggressive Fed rate hikes and the risk-on mood undermines the buck. A sustained strength beyond the 100-day SMA supports prospects for further gains. (FXStreet) USD/INR takes the bids to refresh intraday high and extends the week-start run-up. India’s retail inflation dropped to three-month low in October. US Dollar traces yields to defend recovery from three-month low. US PPI, risk catalysts eyed for fresh impulse ahead of the key US Retail Sales. (FXStreet) A recovery in positive market sentiment has underpinned the Kiwi bulls. The asset has built an auction profile above the breakout area of the Rising Channel formation. A bullish range shift by the RSI (14) adds to the upside filters. The NZD/USD pair has refreshed its day’s high at 0.6119 as the risk-on impulse has regained traction. A smart recovery in the S&P500 futures after selling pressure on Monday has infused fresh blood into the risk-perceived assets. (FXStreet) Prices of natural gas printed decent gains on Monday. The uptick, however, was accompanied by dwindling open interest and volume, which removes some strength from the continuation of the uptrend. Against that, the commodity could likely face extra range bound trading for the time being. Occasional bullish moves, in the meantime, remain capped by the 200-day SMA near the $6.85 per MMBtu. (FXStreet) WTI pares the biggest daily loss in seven weeks, prints mild gains of late. Convergence of 50% Fibonacci retracement level, monthly support line restricts immediate downside. Bearish MACD signals and sustained trading below 200-SMA favor sellers. Buyers need validation from $88.10 to retake control. (FXStreet) Gold price is displaying lackluster performance above the critical hurdle of $1,770.00. The DXY has turned sideways as the focus has shifted to the US Retail Sales data. A situation of decline in inflation along with a significant rise in retail sales indicates robust retail demand. (FXStreet) Silver price retreats from five-month high but stays beyond the key resistance, now support. Overbought RSI suggests further pullback but bears should wait for $21.45 breakdown for clarity. An eight-month-old resistance line appears the key hurdle for XAG/USD buyers to tackle. (FXStreet) BTC/USD has pulled back from the top end of an upward-sloping channel from September, coinciding with the 89-day moving average. This isn’t surprising given the rebounds in August and September were capped by the moving average. In the process, however, BTC/USD has not only broken below support at the 3 November low of 20040, but it has also fallen below the June low. (DailyFX) Source: FXStreet, DailyFX Disclaimer: The above information are provided as a general market information for educational purpose only, and do not constitute investment advice. Traders and Investors are encouraged to do their own analysis instead of blindly following any Trading calls raised by various parties on the Internet.

2022-11-14 10:13

Market Update - 14 November 2022 The index manages to leave behind part of the recent strong decline. US yields kicks in the week on the defensive across the curve. FOMC’s L.Brainard is due to speak later in the NA session. The dollar appears somewhat bid at the beginning of the week and briefly revisits the 107.00 neighbourhood when gauged by the USD Index (DXY). (FXStreet) EUR/GBP gains some positive traction for the second straight day, though lacks any follow-through. A modest USD rebound is weighing on the common currency and acting as a headwind for the cross. Traders also seem reluctant ahead of this week’s UK macro data and Chancellor Hunt’s statement. (FXStreet) USD/JPY struggles to capitalize on its modest recovery gains and remains below the 140.00 mark. Rebounding US bond yields revive the USD demand, though fail to provide any meaningful lift. Bets for smaller Fed rate hikes continue to act as a headwind for the buck and capping the major.(FXStreet) EUR/USD prints a bullish chart formation near a three-month high. Convergence of three-day-old support, flag’s bottom challenge bears of late. Steady RSI suggests further grinding but buyers stay hopeful.(FXStreet) USD/CAD has sensed buying interest around 1.3250 as DXY rebounds ahead of US midterm elections outcome. The change of the House of Representatives' stewardship to Republicans will dampen expansionary policies. Loonie investors are eyeing the release of the inflation figures.(FXStreet) GBP/USD retreats from 11-week high as market sentiment sours. Increasing odds of the Fed’s 50-bps rate hike favor buyers. Biden-Xi updates, light calendar and fears of tough guidance for the UK’s budget challenge previous upside. (FXStreet) AUD/USD remains on the defensive amid a modest USD bounce from a nearly three-month low. Hawkish remarks by Fed’s Waller push the US bond yields higher and revive the USD demand. Bets for smaller rate hikes by the Fed act as a headwind for the buck and limit losses for the pair. (FXStreet) NZD/USD is seen consolidating last week’s post-US CPI rally to a two-month high. Rebounding US bond yields helps revive the USD demand and acts as a headwind. The downside remains limited amid rising bets for smaller rate hikes by the Fed. (FXStreet) USD/INR bounces off 100-DMA to print the biggest daily gain in seven weeks. Biden-Xi headlines, Fed’s Waller triggered risk-off mood amid a light calendar. Moody’s cuts India’s 2022 GDP growth forecasts by citing higher interest rates, inflation and global economic slowdown. (FXStreet) A six-day losing spell has halted after kissing the upward-sloping trendline around 0.9400. The 50-and 200-EMAs have turned south which indicates that the short-and long-term trend has turned bearish. A bearish range shift by the RSI (14) adds to the downside filters.(FXStreet) Silver reverses an intraday dip to the $21.30 area, though lacks follow-through buying. Repeated failures to capitalize on the move beyond 200 DMA warrants caution for bulls. A convincing break below the $21.00 mark will shift the bias in favour of bearish traders. (FXStreet) Friday’s moderate pullback in prices of natural gas was on the back of shrinking open interest and hints at the view that a deeper pullback seems not favoured in the very near term. The uptick in volume also points to some consolidative mood ahead. The 200-day SMA at $6.84 per MMBtu, in the meantime, continues to cap the upside for the time being. (FXStreet) Friday’s second improvement in a row in prices of the WTI was accompanied by increasing open interest, which suggests that extra gains appear on the cards in the near term. That said, the next resistance turns up at the November high at $93.73 per barrel (November 7. (FXStreet) Source: FXStreet, DailyFX Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2022-11-11 09:43

Market Update - 11 November 2022 USD/JPY struggles to preserve its intraday recovery gains amid sustained USD selling. Bets for less aggressive Fed rate hikes and sliding US bond yields weigh on the buck. The risk-on impulse could undermine the safe-haven JPY and lend support to the pair. A more dovish BoJ might also hold back bears from placing fresh bets around USDJPY. (FXStreet) The index remains well on the defensive near 107.40. The persistent risk-on trade keeps hurting the dollar. Flash Michigan Consumer Sentiment next of note in the docket. The dollar keeps losing ground and navigates an area last seen back in mid-August in the mid-107.00s when tracked by the USD Index (DXY) on Friday. (FXStreet) EUR/GBP remains mildly bid while showing no major reaction to the UK, German data. UK’s Q3 GDP eased to -0.2% QoQ versus -0.5% expected and 0.2% prior. Germany’s HICP inflation gauge confirmed 11.6% YoY figures for October. The market’s cautious optimism underpins bullish bias, off in the US, and Canada restricts immediate advances. (FXStreet) GBP/USD attracts some dip-buying near the 1.1650-1.1645 region, though lacks follow-through. The USD languishes near a two-month low and continues to lend some support to the major. Mostly better-than-expected UK macro releases fail to impress bulls or provide any impetus. (FXStreet) EUR/USD renews three-month high despite grinding higher of late. Clear break of 100-DMA, September’s high favor buyers amid bullish MACD signals. Nearly overbought RSI tests bulls on their way to 1.0355-70 resistance area. (FXStreet) USD/CAD has witnessed barricades around 1.3350 amid positive market sentiment. Loonie bulls are supported by BOC’s hawkish commentary and a recovery in oil prices. Going forward, US long-term inflation report will be of utmost importance. (FXStreet) GBP/JPY struggles to extend the daily gains amid sluggish yields, pre-data anxiety. Optimism surrounding Brexit, BOE’s next move keeps buyers hopeful but fears of Japan’s meddling test upside. Yields dropped after US inflation data amplified risk-on mood. Fears that UK Q3 GDP will amplify recession woes weigh on the prices. (FXStreet) USD/INR licks its wounds at the lowest levels since late September. Eight-month low US CPI bolstered hopes of Fed’s easy rate hikes going forward. China-linked risk-aversion joins sluggish market moves to trigger USDINR consolidation. US Michigan CSI, risk catalysts eyed for fresh impulse. (FXStreet) AUD/USD adds to the overnight rally and climbs to its highest level since September 22. The softer US CPI-inspires USD selling remains unabated and offers support to the pair. The lack of follow-through buying warrants some caution for aggressive bullish traders. (FXStreet) NZD/USD reverses an intraday dip and climbs to a nearly two-month high on Friday. The USD consolidates the post-US CPI slump and continues to lend some support. The prevalent risk-on mood provides an additional boost to the risk-sensitive Kiwi. The lack of follow-through buying beyond the 100 DMA warrants caution for bulls. (FXStreet) Silver gains traction for the second straight day and climbs to over a five-month peak. The technical set-up favours bullish traders and supports prospects for further gains. A convincing break below the $21.00 mark is needed to negate the positive outlook. (FXStreet) Thursday’s uptick in prices of natural gas was accompanied by another build in open interest, which allows for the continuation of the recent bounce. The sharp drop in volume, however, could also spark a knee-jerk in the very near term. The next up barrier of note, in the meantime, emerges at the November high at $7.22 per MMBtu (November 7). (FXStreet) Gold price remains sidelined around 2.5-month high, mildly offered of late. Risk-on mood fades amid Covid fears from China, anxiety ahead of Biden-Xi meeting challenge XAU/USD buyers. Sluggish yields, mildly offered US stock futures exert downside pressure on bullion. US Michigan CSI, risk catalysts eyed for fresh impulse. (FXStreet) Crude oil prices charted humble gains on Thursday amidst a small uptick in open interest, which is supportive of the continuation of the rebound in the very near term. Moving forward, the WTI now targets the so far November peak at $93.73 (November 7). (FXStreet) A sharp reversal saw BTC rise 12%, but prices remain below the 50-day Simple Moving Average (SMA) and a zone of recently broken support that underpinned a consolidation period spanning back to June. If prices close a weekly candlestick below the former support zone, more downside may occur. (DailyFX) Source: FXStreet, DailyFX Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2022-11-10 09:42

Market Update - 10 November 2022 GBP/USD regains some positive traction on Thursday amid modest USD weakness. The upside potential seems limited as traders keenly await the key US CPI report. The BoE’s gloomy economic outlook also contributes to capping gains for the pair. (FXStreet) The index alternates gains with losses around 110.50. Markets’ attention will be on the release of US inflation figures. Weekly Jobless Claims, Fedspeak also on tap later in the day. The greenback, when tracked by the USD Index (DXY), trades without a clear direction near Wednesday’s close around 110.50 on Thursday. (FXStreet) USD/CAD struggles to capitalize on its modest intraday uptick amid modest USD weakness. Bearish crude oil prices undermine the Loonie and help limit the downside for the major. Traders now look forward to the crucial US CPI report before placing fresh directional bets. (FXStreet) EUR/GBP lacks any firm intraday direction and oscillates in a range on Thursday. A combination of factors, however, continues to act as a tailwind for the cross. Talks for aggressive tightening by the ECB underpin the Euro and offers support. The BoE’s bleak outlook for the UK economy supports prospects for further gains. (FXStreet) USD/JPY comes under some selling pressure on Thursday amid a modest USD weakness. The Fed-BoJ policy divergence should act as a tailwind and help limit losses for the pair. Traders also seem reluctant and prefer to wait for the release of the crucial US CPI report. (FXStreet) GBP/JPY grinds higher around intraday top, snaps two-day downtrend. Symmetrical triangle, 200-HMA challenge immediate recovery despite firmer oscillators. Sellers need validation from 165.00 to aim for previous monthly low. (FXStreet) EUR/USD picks up bids to refresh intraday high, reversing Wednesday’s losses. Two-month-old horizontal resistance area challenge bulls. Previous support line from Monday, bearish MACD signals restrict immediate upside. Sellers need validation from six-week-old support line to refresh yearly low. (FXStreet) NZD/USD fails to cheer the US dollar weakness during early Thursday as it stays pressured around the intraday low of 0.5865 heading into the European session. In doing so, the Kiwi pair takes clues from the options market, as well as downbeat signals from the Reserve Bank of New Zealand (RBNZ). (FXStreet) EUR/JPY has resurfaced after dropping to near 146.50 as bets escalate for hawkish ECB policy. It is premature to determine Eurozone’s interest rate peak as the current inflation rate is far from target. An end to BOJ’s easy policy seems not in vision as the administration has announced more stimulus packages. (FXStreet) Australia’s inflation expectations for November will cross the wires today. AUD/USD fell as iron ore prices slipped. The Reserve Bank of Australia Deputy Governor Michele Bullock pushed back against claims that the central bank wasn’t being tough enough on inflation, but it didn’t do much to spur rate hike bets. The Australian Dollar’s direction will likely remain tied to China’s Covid situation over the short term. The upcoming US consumer price index (CPI) is in focus. (DailyFX) USD/CHF remains pressured at one-month low, down for the fifth consecutive day. US Dollar drops amid mixed Fedspeak, softer yields. Markets remain dicey as S&P 500 Future print mild gains, Asian stocks track Wall Street’s losses. Traders brace for a softer US CPI, a surprise can recall buyers. (FXStreet) Prices of natural gas added to Tuesday’s losses and broke below the $6.00 mark on Wednesday. The strong drop was accompanied by increasing open interest and put the likelihood of further losses back on the radar in the near term. Against that, the commodity could extend the decline further and revisit the October low at $4.75 per MMBtu in the short term. (FXStreet) Crude oil prices are little changed in Asia-Pacific trading after falling more than 3% throughout European and US trading hours. The commodity’s demand outlook is suffering from an increase in Covid cases across China, which has forced Chinese officials to ramp up containment measures. Those virus curbs reduce economic output, thus leading to lower oil consumption. (DailyFX) Gold price reverses the previous day’s pullback from monthly high amid softer DXY. Markets remain dicey ahead of US CPI for October, central bankers’ comments underpin recent cautious optimism. Downbeat yields weigh on greenback amid hopes of softer US inflation, slower Fed rate hike in December. Gold price (XAU/USD) extends the early-day recovery to $1,711 as European traders roll up their sleeves for the key US inflation data on Thursday. With this, the XAUUSD reverse the previous day’s U-turn from the highest levels in nearly two months. However, a technical hurdle surrounding $1,720 appears crucial for the bullion's further upside. (FXStreet) Source: FXStreet, DailyFX Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2022-11-09 09:40

Market Update - 09 November 2022 The Japanese yen is testing a major ceiling against the US Dollar, a break above which could seal an interim low for the Japanese currency. USD/JPY is now at an important crossroads – the September highs of 145.00-145.90. This support is crucial as the pair hasn’t broken below a previous high since the major ascent began earlier this year. Hence, a modest rebound wouldn’t be surprising. However, any potential rebound could be short lived. (DailyFX) The index extends the bearish move and hovers around 109.50. Republicans lead the race to the Senate by a marginal gap. Weekly Mortgage Applications, Wholesale Inventories, Fedspeak next on tap. The USD Index (DXY), which gauges the greenback vs. a bundle of its main rivals, extends the decline and revisits the 109.50/40 band on Wednesday. (FXStreet) EUR/GBP lacks any firm intraday direction and remains confined in a narrow trading band. Talks for aggressive policy tightening by the ECB underpin the Euro and offers support. The BoE’s gloomy outlook could weigh on the British Pound and favour bullish traders. (FXStreet) GBP/USD struggles to defend the four-day uptrend inside a bullish formation. Sustained break of fortnight-old resistance line keeps buyers hopeful. Steady RSI also underpins bullish bias, 200-HMA adds to the downside filters. (FXStreet) An inventory adjustment process around the critical resistance of 1.0100 bolsters the odds of a breakout. Market mood has turned quiet ahead of US Inflation/Mid-term elections outcome.Advancing 20-and 50-EMAs add to the upside filters. The EUR/USD pair is displaying back-and-forth moves in a narrow range below the critical hurdle of 1.0100. The asset has turned sideways as investors are awaiting the release of the US inflation data for informed decisions ahead. (FXStreet) USD/CAD seesaws around multi-day low, picks up bids of late. Challenges to sentiment from the US election results, China’s covid conditions test USDCAD bears. DXY rebound, higher inventories weigh on oil prices. Risk catalysts eyed for directions ahead of US CPI, speech from BOC’s Macklem. (FXStreet) GBP/JPY picks up bids to reverse the previous day’s pullback form weekly top. Short-term resistance line, convergence of the key SMAs challenge buyers. MACD conditions suggest further hardships for buyers, 165.00 appears a tough nut to crack for the bears. (FXStreet) Anxiety ahead of the US inflation data has dragged the asset from the psychological resistance of 0.6000. Overall optimism in the market may provide support to the asset around the 20-EMA. The RSI (14) is still oscillating in the bullish range, which indicates that the upside momentum is still intact. The NZD/USD pair has turned sideways after failing to cross the immediate hurdle of 0.5960 in the Tokyo session. The risk profile has turned quiet as investors have shifted to the sidelines ahead of the US inflation data. (FXStreet) USD/CHF picks up bids to print the first daily gains in four. Easing bearish bias of the MACD, clear bounce off fortnight-old support keeps buyers hopeful. Weekly resistance line challenge intraday buyers ahead of the key hurdle comprising 200-SMA, 50% Fibonacci retracement level. (FXStreet) AUD/USD prints mild losses around six-week high, snaps three-day uptrend. Fears of US government gridlock, pessimism surrounding China’s covid conditions and softer inflation data weigh on prices. Risk appetite remains sluggish ahead of the key data/events, bears are likely to retake control. (FXStreet) USD/INR has extended its gains to near 81.60 ahead of US mid-elections outcome. Lower consumer spending and Fed’s bigger rate hike have trimmed consensus for the US CPI. The RBI may opt for a 35 bps rate hike in its December monetary policy meeting. (FXStreet) Tuesday’s strong retracement in prices of natural gas was amidst shrinking open interest and volume, leaving the prospects for further pullbacks somewhat diminished for the time being. Against that, the next hurdle of note remains at the area of recent highs around the $7.20 mark per MMBtu. (FXStreet) Silver regains some positive traction following the overnight pullback from a multi-month peak. RSI (14) on the daily chart warrants caution for bulls and before positioning for additional gains. Any meaningful corrective pullback could be seen as a buying opportunity and remain limited. (FXStreet) Gold retreats from over a one-month high touched on Tuesday amid a modest USD uptick. Reviving safe-haven demand offers support to the XAU/USD and helps limit the downside. Bets for less aggressive Fed rate hikes support prospects for the emergence of dip-buying. (FXStreet) Tuesday’s moderate downtick in prices of the WTI was amidst declining open interest, which removes strength from a potential deeper decline. Against that, there are chances of a rebound in the very near term and with the immediate up barrier at recent peaks past the $93.00 mark per barrel. (FXStreet) Source: FXStreet, DailyFX Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2022-11-08 09:46

Market Update - 08 November 2022 The index attempts a bullish move after bottoming out near 110.00. The recovery in the dollar comes in tandem with higher yields so far. Investors’ attention is expected to remain on the US midterm elections. The greenback, in terms of the USD Index (DXY), looks to leave behind part of the recent steep decline and rebounds from the 110.00 neighbourhood. (FXStreet) In a nutshell, there is not much evidence yet to conclude that the worst is over for GBP/USD. That’s because in recent weeks GBP/USD has remained confined within the September open-close range. While this can be interpreted as ‘wait-and-watch’, it could also imply a lack of conviction amongst market participants with regard to the future trend. (DailyFX) USD/CAD has refreshed its day’s high at 1.3523 as the positive risk profile is losing its traction. Investors are cautious as the odds support a majority win of Republicans, which may trigger political instability. Oil prices have slipped as oil demand optimism is returning on expectations of a slowdown in Fed’s rate hike pcae. (FXStreet) USD/JPY climbs above 146.80 as the traction is returning in the risk-off profile. US yields are advancing after hawkish commentary from Fed policymaker Barkin. Japanese administration is set to approve more stimulus and hike taxes for ultra-wealthy individuals. (FXStreet) EUR/USD takes offers to renew intraday low, pares recent gains near one-week high. Overbought RSI, bearish MACD triggered the latest pullback. Immediate support line, golden cross keeps buyers hopeful. (FXStreet) AUD/USD renews intraday low as market sentiment sours during a sluggish session. China reports highest fresh covid numbers since April, fresh statistics from Australia arrived mixed. Light calendar could restrict the pair’s moves ahead of US/China inflation, RBA’s Lowe could entertain intraday traders. (FXStreet) NZD/USD pares recent gains as bulls step back from 1.5-month high, snaps two-day uptrend. RBNZ Inflation Expectations improved to 3.62% for two-year, 5.08% for one year. Sour sentiment, China’s covid woes exert downside pressure on prices. Lackluster moves expected ahead of US CPI, risk-aversion may help please bears. (FXStreet) USD/IDR remains mildly bid, extends week-start rebound amid sluggish session. Indonesia Consumer Confidence rise to 120.30 in October. US dollar licks its wound amid firmer yields, covid fears from China. Light calendar restricts immediate moves, US inflation in focus. (FXStreet) GBP/JPY fades two-day uptrend, remains sidelined of late. BOE witnessed a dim response of the first gilt sale, optimism surrounding UK’s fiscal policy fades. UK businesses fear gloomy Christmas amid inflation woes. Yields remain firmer as recession looms, China’s covid numbers escalate during a sluggish session. (FXStreet) USD/INR licks its wound at the lowest levels in a month, snaps three-day downtrend. Firmer yields, covid woes from China test bears even as Fed concerns weigh on prices. Softer oil price adds strength to the bearish bias amid an off in Indian markets. (FXStreet) EUR/GBP has sensed selling pressure while attempting a break above 0.8700. The ECB is expected to paddle up its policy tightening measures to bring the inflation rate to 2%. Eurozone Retail Sales data is seen at -1.3% vs. the prior release of -2.0%. (FXStreet) USD/CHF picks up bids to refresh intraday high, snaps two-day downtrend. Risk aversion, sluggish markets underpin USDCHF rebound ahead of the key data/events. US CPI, mid-term election outcomes and comments from SNB’s Jordan are the key catalysts to watch for clear directions. (FXStreet) Gold corrected lower on Monday following the strong uptick recorded at the end of last week. The daily decline was on the back of rising open interest, which opens the door to the continuation of the corrective move in the very near term. In the meantime, recent tops around $1,680 per ounce troy are expected to cap occasional bullish attempts. (FXStreet) Prices of the barrel of the WTI started the week on the back foot amidst shrinking open interest and volume, which suggests the possibility that further decline is not favoured in the very near term. Further bullish attempts, in the meantime, are expected to target the 200-day SMA, today at $98.44 per barrel. (FXStreet) Prices of natural gas gapped higher and revisited the area beyond the $7.00 mark at the beginning of the week, just to fade most of that advance and end the session with marginal gains afterwards. The move was amidst rising open interest and volume and points to some consolidation in the very near term with the topside still around the $7.20 region per MMBtu. (FXStreet) BTC/USD has maintained a gradual drift higher in recent weeks, nicely guided by an upward-sloping channel from September. The top end of the channel is an uptrend line (now at 21250) while the lower edge of the channel is another uptrend line (now at 18950). The top end also coincides with the 89-day moving average – the rebounds in August and September were capped by the moving average. (DailyFX) ETH/USD’s three-week-long rally is testing quite strong resistance on the 200-day moving average, not too far from another ceiling at the September high of 1790. Also, as noted in the previous update, ETH/USD has achieved the price objective of the horizontal channel that got triggered at the end of October. (DailyFX) Source: FXStreet, DailyFX Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.