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WTI oscillates in a range below $73.00 mark, downside potential seems limited West Texas Intermediate, the US crude oil benchmark, is trading around $74.15 on Wednesday. The WTI price edges higher amid expected higher Chinese demand and a larger drop in US crude stocks.

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Gold price is consolidating the previous rebound near $2,650 early Wednesday, awaiting the US ADP jobs report and the Minutes of the US Federal Reserve December meeting for the next leg higher.

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The EUR/USD pair gains ground to near 1.0350 during the early European session on Wednesday. However, the potential upside of the major pair might be limited amid the prospects for slower interest rate cuts by the Federal Reserve in 2025.

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Gold price attracts some follow-through buying at the start of a new week and looks to build on its recovery from a one-month low touched last Thursday. Geopolitical risks stemming from the protracted Russia-Ukraine war, tensions in the Middle East, and trade war fears turn out to be key factors benefiting the safe-haven precious metal.

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GBP/USD retreated from its daily peak and battles around 1.2600 following the Bank of England monetary policy decision. The BoE kept the benchmark interest rate unchanged at 4.75% as expected, but the accompanying statement leaned to dovish. Three out of nine MPC members opted for a cut.

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The European Central Bank (ECB) is widely expected to cut key rates again in December. The ECB's tone in the policy statement and revised projections could drive the Euro's valuation ahead of President Lagarde's press conference.

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This year, artificial intelligence played a key role in two Nobel Prizes for scientific achievement. One prize was awarded for developing the technology, while the other was for its application. These two Nobel Prize wins clarify that AI is here to stay. However, key issues such as regulations, ethical use, and other potential risks, still need to be resolved for...

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West Texas Intermediate US Crude Oil prices show some resilience below the $67.00 round-figure mark and attract some buyers at the start of a new week. The commodity currently trades just below mid-$67.00s, up 0.60% for the day, and for now, seems to have snapped a three-day losing streak to a three-week low touched on Friday.

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The upper limit of the descending regression channel coming from late September aligns as immediate resistance near 1.0800. The 20-period Simple Moving Average (SMA) on the 4-hour chart reinforces this level as well. Once the pair flips that level into support, it could extend its recovery toward 1.0850 (50-period SMA) and 1.0900 (round level, static level). If...

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From a technical perspective, the overnight breakdown below a short-term ascending trend-channel support could be seen as a fresh trigger for bearish traders. Moreover, negative oscillators on hourly charts suggest that the path of least resistance for the Gold price is to the downside. That said, it will still be prudent to wait for a convincing break below the...

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GBP/USD stays within the descending channel coming from late September and the Relative Strength Index (RSI) indicator on the 4-hour chart stays well below 50, reflecting the bearish bias. The 100-day Simple Moving Average (SMA) forms a strong support level at 1.2970. If this support fails, the mid-point of the descending channel could be seen as the next bearish...

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It seems like you are describing a potential trading scenario for the AUD/USD pair based on a clear downward channel breakout after some event related to the USD. You mentioned potential price targets of 0.6598, 0.6606, and 0.6624.

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In recent market developments, the XAU/USD (Gold/US Dollar) pair has experienced a notable breakout on the H4 (4-hour) chart, triggered by the release of key economic data from the United States. Breakout Analysis: The H4 chart indicates a clear breakout, signaling a substantial movement in the price of Gold against the US Dollar. Traders and investors are...

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Gold price is licking its wounds at around $2,025 in Wednesday’s Asian trading, having incurred heavy losses on Tuesday, courtesy of the unabated demand for the US Dollar (USD) amid a further escalation in the Middle East geopolitical tensions and easing bets for aggressive US Federal Reserve (Fed) rate cuts this year. The US Dollar found solid demand on Tuesday,...

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The short-term technical outlook for Gold price remains in favour of buyers after the bright metal closed Friday above the 21-day Simple Moving Average (SMA) at $2,046, breaking the weekly range trade to the upside. The 14-day Relative Strength Index (RSI) indicator is looking firmer above the midline, suggesting that there is more scope to the upside for Gold...

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From a technical perspective, any subsequent move up is likely to confront some resistance near the $2,040 horizontal zone, above which the Gold price could aim to retest Friday's swing high, around the $2,063-2,064 region. The next relevant hurdle is pegged near the $2,077 area, which if cleared decisively will negate any near-term negative outlook and allow...

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The EURCAD breakout in the hourly chart presents an excellent educational opportunity to understand technical analysis and trading strategies. This scenario provides a practical example of how to identify support levels, interpret market movements, and utilize Fibonacci targets for potential trade opportunities. By following this breakout and observing its...

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Channel breakout on the upside and now price on the key area so good opportunity for trade with a 1:2 or 1:3 ratio. an important area to watch is mentioned in the chart kindly follow tight stop loss.