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Natural Gas Prices Dip to $2.4 After EIA Report Surprise

NATGAS dipped as reports show a surplus in the Natural Gas reserves and a warmer weather forecast for November. 

The stochastic is oversold, which could cause the Natural Gas price to target $2.56. A dip below the 50-SMA invalidated the bullish outlook. 

Article: https://fxnews.me/natural-gas-prices-dip-to-2-4-after-eia-report-surprise/

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Watch Silver as It Approaches $30.7 Resistance

Silver remains oversold but is nearing the $30.7 resistance level, gaining upward momentum as indicated by the Stochastic's move out of the oversold territory.

The trend outlook will stay bearish as long as silver prices remain below the October 17 low of $31.35. Should silver close above the immediate resistance at $30.76, it might aim to test the 50-period simple moving average as its next resistance.

Article: https://fxnews.me/silver-bear-market-shows-signs-of-recovery-around-30/

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GBPUSD Nears Key 1.261 Mark Amid Oversold Signals

GBP/USD is testing 1.261 resistance in a robust bear market. If resistance holds, it could drop to 1.245. 

Article: https://fxnews.me/gbpusd-nears-key-1-261-mark-amid-oversold-signals/

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NZD/USD Downtrend Deepens Past August Lows

NZD/USD falls below the 100-SMA, breaching August lows. The bearish trend continues, with resistance at $0.581, targeting the October low at $0.577.

Article: https://fxnews.me/nzdusd-dips-despite-strong-economic-data/

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USD/JPY Potential Rise to 161.9 on Breakout

USD/JPY could initiate a bullish run toward 161.9 if it stabilizes above the 157.5 resistance level. Watch for potential gains.

Article: https://fxnews.me/usdjpy-to-155-as-boj-signals-gradual-rate-hikes/

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XRP Hits $1.3 High Thanks to U.S. Policy and Legal Action

XRPUSD-2024-11-20-01-39-05.png

XRP reached a new high of $1.3, driven by Donald Trump's crypto-friendly policy and lawsuits against the SEC by 18 U.S. states. The market outlook with the next target at $2.0 remains valid as long as XRP holds above the $0.785 support. 

Article: https://fxnews.me/xrp-hits-1-3-high-thanks-to-u-s-policy-and-legal-action/

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Oil Prices Stable $69 as Geopolitical Risks Soar

WTI crude oil remains above $66 as geopolitical risks increase following Ukraine's missile strike and changes in Russia's nuclear stance. If $69.7 resistance holds as Stochastic signals overbought, a consolidation phase toward $68.3 could be on the horizon. 

Article: https://fxnews.me/oil-prices-stable-69-as-geopolitical-risks-soar/

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GBP/JPY Faces Bearish Pressures Below Key Levels

GBPJPY-2024-11-20-03-48-48.png

The GBPJPY pair remains bearish below the October 23 low of 198.4. If prices fall below the 196.7 support, the next target is September's low of 195.4. A move above 198.45 would negate this bearish outlook.

Article: https://fxnews.me/gains-in-ftse-100-halted-the-gbpjpy-bearish-trend/

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Silver Pauses at $30.76 Amid Solar Panel Demand Drop

silver-x.png

Silver uptrend paused due to low demand for solar panels. On the technical front, the 100-period simple moving average acts as strong resistance.

A dip below the immediate resistance of $30.76 will likely trigger a downtrend. In this scenario, the next bearish target could be revisiting $29.7.

Article👇
https://fxnews.me/silver-rally-halts-at-31-4-amid-solar-panel-surplus/

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EURUSD Plummets Amid Ukraine-Russia Tensions and Eurozone Woes

The EUR/USD currency pair resumed its downtrend amid escalating tension between Ukraine and Russia and increasing concerns in the Eurozone. The outlook of the trend remains bearish below $1.06, with the next target at $1.045.

Article https://fxnews.me/eurusd-plummets-amid-ukraine-russia-tensions-and-eurozone-woes/

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