Crude Oil Futures: Rally stays unabated

Pablo Piovano FXStreet

Traders added more than 9K contracts to their open interest positions in crude oil futures markets after two daily pullbacks in a row on Monday, considering flash data from CME Group. Volume followed suit and went up by around 400.4K contracts.

WTI now targets $76.88

Prices of the WTI briefly probed the $74.00 mark at the beginning of the week, or new 2021 highs. The uptick was accompanied by rising open interest and volume, leaving the door open to the continuation of the rally for the time being. Against this, the next hurdle of note comes in at the 2018 high just below the $77.00 mark per barrel (October 2018).

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 faces some resistance near 100-SMA on H4, around 1.1830 zone

The EUR/USD pair gains some follow-through positive traction for the second consecutive day and climbs to the 1.1830 region during the Asian session on Thursday. The US Dollar remains on the back foot amid concerns about the economic fallout from US President Donald Trump's erratic trade policies and acts as a tailwind for spot prices.

GBP/USD extends recovery to near 20-day EMA as US Dollar weakens

The Pound Sterling holds onto weekly gains around 1.3565 against the US Dollar during the Asian trading session on Thursday. The GBP/USD pair trades firmly as the US Dollar remains under pressure due to uncertainty surrounding the United States trade policy outlook.

Gold struggle with $5,200 extends ahead of more US-Iran talks

Gold is replicating the recovery moves seen in Wednesday’s Asian trading early Thursday, as buyers continue to flirt with the $5,200 level. Sustained US Dollar weakness and looming US-Iran talks aid the bright metal’s rebound.

Stellar: Relief bounce fades as bearish undertone persists

Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Solana Price Forecast: SOL strikes key resistance with double-digit gains

Solana trades at $88 at press time on Thursday, after an 11% upswing the previous day within a broader consolidation range of roughly three weeks. Institutional demand for Solana heightens as US spot SOL Exchange Traded Funds record $30 million of inflow on Wednesday.