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Futures Market News, April 2nd: 1. WTI crude oil futures trading volume was 1,164,145 lots, a decrease of 187,338 lots from the previous trading day. Open interest was 2,040,107 lots, an increase of 9,137 lots from the previous trading day. 2. Brent crude oil futures trading volume was 205,539 lots, a decrease of 8,002 lots from the previous trading day. Open interest was 294,142 lots, a decrease of 3,848 lots from the previous trading day. 3. Natural gas futures trading volume was 393,392 lots, a decrease of 94,049 lots from the previous trading day. Open interest was 1,529,233 lots, an increase of 14,725 lots from the previous trading day.April 2 - Euro Stoxx 50 futures fell to 2.0%, German DAX futures fell 1.9%, and FTSE 100 futures fell 0.8%.Market news: Berkshire Hathaway has hired banks to issue yen bonds.April 2nd, Futures News: Economies.com analysts latest view: Spot gold has retreated in recent intraday trading, mainly due to the strong resistance at the key $4700 level, thus partially releasing overbought pressure on the Relative Strength Index (RSI), especially against the backdrop of gradually emerging negative signals. This pullback is also a process of price attempting to rebuild positive momentum, preparing for a potential continuation of the bullish trend. Spot gold is benefiting from dynamic support, currently trading above the 50-day EMA, which further solidifies the stability of the short-term bullish corrective wave.April 2nd, Futures News: Economies.com analysts latest view: WTI crude oil futures have risen sharply in recent intraday trading, finding support at the EMA50 moving average. This support has provided significant positive momentum, driving this rally. The bullish trend dominates in the short term, with prices moving along the support trendline, further solidifying the bullish direction. We also note a positive signal from the Relative Strength Index (RSI), forming a positive divergence, which further strengthens the bullish momentum and supports the possibility of continued gains in WTI crude oil futures in the short term.

USD/CAD Price Analysis: Retracement Moves Seek Confirmation at 1,3000

Alina Haynes

May 13, 2022 10:00

USD/CAD consolidates recent advances while retreating from its highest level since November 2020, reaching a fresh intraday low around 1.3010 during the Asia session on Friday.

 

In doing so, the Loonie pair depicts a pullback from a four-day-old resistance line, which was near 1.3080 at the time of publication.

 

Given that the downward-sloping RSI (14) line is not oversold, the most recent price downturn may continue for a while longer before reaching any important support.

 

However, a junction of the 100-HMA and a one-week-old ascending trend line at 1.2995 is a formidable obstacle for USD/CAD bears.

 

In the event that the price falls below 1.2995, various levels surrounding 1.2920-10, including the high from early May and the 200-hour moving average, will attract pair sellers.

 

In contrast, a decisive breach of the aforementioned short-term resistance line of 1.3080 would require confirmation from the 1.3100 level before going for the peak of 1.3172 in late November 2020.

 

In conclusion, USD/CAD decline is not indicative of a trend reversal until the quotation breaks 1.2920.

The USD/CAD Hourly Graph

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