U.S Crude Oil has continued to add to its climb which has been underway since June of this year. Important resistance levels are being approached and will be tested in the near term. OPEC will be conducting important production meeting next week.
Category : Analysis
Forex became range bound on Tuesday as global investors become cautious before their American counterparts disappear for a long holiday weekend. However, sudden surges can be expected the next two days as trading volumes evaporate. Gold remains tranquil, but Crude Oil has gained well the past day.
The Pound has traded in a rather tenuous range mid-term as it stays highly valued, but gets pushed back by consistent resistance. Bank of England Governor Mark Carney is speaking today about inflation, and traders may find opportunities within the Pound.
The Euro continues to experience headwinds as political concerns swirl in Germany. Gold saw resistance raise its ugly head on Monday as the precious metal was pushed lower. The Pound should be watched as Inflation Hearings are held in the U.K today.
The Euro has seen a vast amount of turbulence today and is likely to remain fast as political developments from Germany sweep into forex. Technical trading will likely be impactful over the coming days as the Euro tries to find an equilibrium.
The Euro has been sold off this morning as investors react to the failure of coalition talks in Germany, which have put Angela Merkel’s leadership into question. Gold has sustained its gains made late last week and will be speculative in the coming days if political anxiety mounts.