fbpx

Register for MT4 Demo Account

Register for xStation Account

WTI Oil Edges Higher After Decline, EUR/USD Struggles Below 1.0900, GER30 Faces Downside Risk Amid Earnings Season.

By Research Team Monday, Oct 21, 2024
EUR/USD

    • 13:05D1
    • High1.0871
    • Low1.0864
    • Close1.0867

EUR/USD is trading at 1.0846, 0.16% down since previous day close. EUR could edge higher, but lacks momentum to break above 1.0900, according to UOB Group’s FX analysts Quek Ser Leang and Peter Chia. The recovery from a sharp drop has gathered momentum, but it doesn’t have enough momentum to break above 1.0900. a breach of 1.0835 would indicate mild upward pressure has eased. The weakness in EUR that started early this month remains intact, and a breach of 1.0900 would indicate the start of a range trading phase.

Read More… Read Less

Daily Outlook

EUR/USD

Intra Day
Near Day

Technical Levels

R3 1.0900
R2 1.08845
R1 1.08730
Turnaround 1.0840
S1 1.08350
S2 1.08230
S3 1.8108
By Research Team Monday, Oct 21, 2024
GER30

    • 17:30D1
    • High
    • Low
    • Close

GER30 index is trading near 19647, 0.64% down since previous day close. J.P. Morgan predicts that earnings season is heating up, with nearly 60% of the S&P 500’s market cap and 50% of European companies reporting earnings. However, the bank warns that the low expectations may not trigger a positive share price reaction, especially given markets are near highs and positioning is elevated. The global composite PMI lost steam in Q3. As shown, GER30, if breaks 19458, could go till 19400 and lower.

Read More… Read Less

Daily Outlook

GER30

Intra Day
Near Day

Technical Levels

R3 19820
R2 19734
R1 19684
Turnaround 19550
S1 19458
S2 19398
S3 19346
By Research Team Monday, Oct 21, 2024
WTI

    • 15:35D1
    • High69.37
    • Low69.18
    • Close69.32

WTI is trading at 70.67, 1.97% UP since previous day close. WTI oil prices edge higher after a 7% decline, but downside may be limited as China’s rate cuts could stimulate domestic economic activity, potentially increasing oil demand. US President Joe Biden believes there is an opportunity to end the conflict between Israel and Iran, while Shell and Singapore’s Maritime and Port Authority implement clean-up measures following a pipeline leak.

Read More… Read Less

Daily Outlook

WTI

Intra Day
Near Day

Technical Levels

R3 71.50
R2 71.20
R1 71
Turnaround 70.10
S1 69.33
S2 69.00
S3 68.72
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

 

© 2024 XFlow Markets, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

 

XFlow Markets INC is incorporated in Saint Lucia with registration no. 2023/C088 governed by the Companies Act, Cap 13.01 of the revised laws of Saint Lucia.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

Telephone number: UAE: +971 43304431 Working hours: 7:00 AM - 5:00 PM (GMT+0)

XFlow Markets does not offer any fixed returns & guaranteed profits. Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk. Please consider our Risk Disclosure.

XFlow Markets does not guarantee any returns or profits. Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.