WTI Forecast: Retakes $72, bulls eye 23.6% Fibo and 200-day EMA

The post WTI price holds near $72 as US-Iran talks offset Hormuz supply risks appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI) Oil trades around $72 at the time of writing on Friday, up 0.42% on the day, but remains in a consolidation phase after reaching a more than two-week high earlier this week. Investors are assessing mixed signals from the Middle East, balancing ongoing military tensions against renewed diplomatic efforts. Market sentiment improved slightly after a US official confirmed that technical talks with Iran remain ongoing despite US President Donald Trump’s comments that the memorandum of understanding with Tehran was no longer in effect. Reuters also reported that Qatari negotiators are in Iran to meet with Iranian officials in an effort to de-escalate tensions and create conditions for broader negotiations to continue, in coordination with the United States (US). According to a source cited by Reuters, the talks are focused on implementing the US-Ira

The post Why are Oil prices taking a breather after rallying earlier this week? appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI) Oil futures on NYMEX trade slightly lower to near $71.50 during the European trading session on Friday. The Oil price extends its correction after posting a fresh over two-week high at $75.73 on Wednesday. The black gold has come under pressure amid signs of de-escalation in the restart of the war between the United States (US) and Iran. Earlier in the day, a US official confirmed that technical talks with Iran continued, despite President Donald Trump declaring that the memorandum of understanding (MoU) with Tehran is over. US President Trump also said late Wednesday that he had a conversation with Iran, adding that the nation wants the deal badly. However, he doesn’t believe that Iran would honor the deal, CNBC reported. Meanwhile, the downside in oil prices will likely remain limited, as the exchange of attacks between the US and Iran are

The post EUR/USD Forecast: Holds near weekly top as bulls battle 23.6% Fibo. appeared on BitcoinEthereumNews.com. The EUR/USD pair attracts some buyers for the third consecutive day and touches a fresh weekly high, around the 1.1460 area, during the Asian session on Friday. The US Dollar (USD) is seen prolonging the less hawkish FOMC Minutes-inspired slide and turning out to be a key factor acting as a tailwind for the currency pair. However, persistent geopolitical uncertainties help limit further USD losses and cap spot prices. From a technical perspective, the EUR/USD pair, so far, has been struggling to find acceptance or build on its strength beyond the 23.6% Fibonacci retracement level of the April-June downfall. Moreover, the recovery from the year-to-date low has been along an upward-sloping channel, which now seems to constitute the formation of a bearish flag pattern, leaving the recent gains capped within the broader corrective structure. Momentum indicators, however, remain

The post WTI consolidates below $72 amid US-Iran tensions appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI) – the benchmark US Crude Oil price – steadies during the Asian session on Friday, stalling the previous day’s downfall amid mixed messaging from the US and Iran. The commodity currently trades around the $71.75 area, nearly unchanged for the day, as traders await further developments surrounding the Middle East crisis. The geopolitical risk premium resurfaced this week after the US military unleashed a new wave of strikes against Iran earlier this week in retaliation for Tehran’s attacks on commercial ships in the Strait of Hormuz. Iran responded by targeting American allies and bombing US military installations across Bahrain and Kuwait. Moreover, US President Donald Trump signaled the end of the ceasefire on Wednesday, which, in turn, led to a rally in Crude Oil prices during the first half of the current week. The market anxiety, however, subsided after Trump

The post British Pound Sterling stages a jailbreak while Westminster arranges a coronation appeared on BitcoinEthereumNews.com. Cable adds roughly a tenth of a percent on Thursday, changing hands a whisker above 1.3400 and poking through the 200-day Exponential Moving Average (EMA) for the first time since mid-June. The setting makes the move notable: the United States traded overnight strikes with Iran for a second consecutive day, Crude Oil carries a war premium, and Federal Reserve (Fed) speakers spent the session sounding hawkish. None of it bought the Dollar anything against the Pound. Washington supplies hawks and airstrikes, and the Dollar shrugs Thursday’s American docket gave Dollar bulls usable material, starting with Initial Jobless Claims printing 215K at 12:30 GMT against a 218K consensus and a 217K prior. A voting Federal Open Market Committee (FOMC) member delivered remarks rated firmly hawkish at 13:00 GMT, another policymaker speaks at 17:30 GMT, and Existing Home Sale

The post WTI Price Forecast: Rejection at the 200-day SMA keeps bears in control appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI) crude Oil edges lower on Thursday, erasing all of the previous day’s gains as traders reassess the supply risks stemming from renewed US-Iran tensions. At the time of writing, WTI is trading around $71.75, down 3.77% on the day. Crude Oil prices surged earlier this week after the United States and Iran exchanged military strikes, raising fears that shipping through the Strait of Hormuz could once again face disruptions. However, markets see the latest flare-up as unlikely to escalate into a full-blown war and expect shipping through the Strait of Hormuz to continue to recover. From a technical perspective, Thursday’s decline follows a rejection at the 200-day Simple Moving Average (SMA) near $73.35, which acts as immediate resistance. WTI also remains well below the 100-day SMA around $86.91, suggesting sellers retain the upper hand despite

The post WTI slips below $74 after rally as US‑Iran tensions support prices appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI) trades lower on Thursday and hovers around $73.10 at the time of writing, down 1.95% on the day as investors take profits following two consecutive days of strong gains. Despite the pullback, downside pressure remains limited as heightened geopolitical tensions in the Middle East continue to underpin Oil prices. Tensions between the United States (US) and Iran escalated after a new wave of US strikes targeted Iranian positions. In response, Tehran launched attacks against several US military facilities in the Gulf and threatened further retaliation. Meanwhile, US President Donald Trump said that the memorandum of understanding with Iran aimed at easing the conflict was no longer in effect, reviving concerns about a renewed regional escalation. Markets remain focused on developments surrounding the Strait of Hormuz, a strategic shipping lane thro

The post United States Dollar Index Forecast: Tests 23.6% Fibo. below 101.00 appeared on BitcoinEthereumNews.com. The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, extends the previous day’s pullback from the 101.25-101.30 region and attracts some follow-through sellers on Thursday. The index touches a fresh weekly low during the first half of the European session and currently trades around the 100.90 area, down over 0.15% for the day. From a technical perspective, the DXY is supported by the 23.6% Fibonacci retracement level of the May-June upswing and holds a constructive near-term bias above the 100.50 horizontal resistance breakpoint, which should act as a pivotal point. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator stays below zero with a negative reading at -0.09, hinting that bullish momentum is still tentative despite the supportive structure. Furthermore, the Relative Strength Index (RSI) at 56.09 sits in neutral ter