Crude Oil Futures: Extra gains on the cards

Pablo Piovano FXStreet

CME Group’s flash data for crude oil futures markets noted traders added around 14.6K contracts to their open interest positions on Monday, reaching the fifth consecutive daily pullback. Volume followed suit and went up by around 114.4K contracts, reversing three daily drops in a row.

WTI: Next on the upside comes $116.60

Prices of the WTI added to the ongoing leg higher on Monday. The move was in tandem with rising open interest and volume and opened the door to the continuation of the uptrend in the very near term. Against that, the next target of note comes at the March 24 high at $116.61.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD loses the grip, returns to the 1.1900 region

EUR/USD now comes under a sudden bout of selling pressure, slipping back to the area of two-day lows near 1.1900 the figure on Thursday. The pair’s daily pullback comes on the back of the continuation of the rebound in the US Dollar as investors evaluate the Fed’s interest rate decision and rising geopolitical concerns.

GBP/USD drops to two-day lows near 1.3750

GBP/USD faces some increasing selling pressure, building on Wednesday’s losses and revisiting the 1.3750 zone on Thursday. Cable’s decline to two-day lows comes in response to the marked advance in the Greenback while traders have started to shift their focus to next week’s BoE gathering.

Gold retreats from records, now what?

Gold accelerates its daily correction and retests the $5,100 region per troy ounce, turning negative for the day and fading the earlier bull run to all-time highs around $5,600. The precious metal’s steep sell-off comes on the back of the better tone in the Greenback and mixed US Treasury yields.

Bitcoin slides below $85,000 as US stocks sell off, Gold outperforms

Bitcoin (BTC) broke below $85,000 in the North American session on Thursday, dropping nearly 3% in the one-hour timeframe. The move has seen the largest crypto by market cap erase over 5% of its value within the past 24 hours, briefly reaching $84,400, its lowest level since December 1, according to Binance data.

Federal Reserve pauses, sees economy on firm footing

At its January meeting, the Federal Reserve kept the Fed Funds Target Range (FFTR) unchanged at 3.50%–3.75%, a decision that was fully in line with market expectations.

Solana Price Forecast: SOL approaches critical support as bearish outlook persists

Solana (SOL) is trading in the red, down 2% at press time on Thursday, aligning with the broader cryptocurrency market correction as the US Federal Reserve kept the interest rates unchanged on Wednesday.