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May 22nd, Futures News: Economies.com analysts latest view: Spot gold fell in the latest intraday trading, with a corrective bearish trend dominating in the short term. Furthermore, with prices trading below the 50-day EMA, negative pressure continues to strengthen, increasing downside risk. On the other hand, spot gold prices remain firmly above the key support level of $4500, showing strong positive momentum limiting the decline, especially after the overbought condition was digested. The Relative Strength Index (RSI) is showing a positive signal, providing more room for spot gold to show stronger positive performance in the short term.May 22nd, Futures News: Economies.com analysts latest view: WTI crude oil futures exhibited strong volatility in the latest intraday trading, with prices rising at one point in an attempt to recover some of the previous losses and restore some technical balance. This cautious rebound was mainly due to a slight easing of the clearly oversold condition shown by the Relative Strength Index (RSI), providing temporary support for the current price movement. Despite the limited improvement, negative pressure continues to dominate oil price movements. Previously, prices had broken below the upward channel that had been dominating its short-term trading. Furthermore, WTI crude oil futures remain below the 50-day EMA, continuing to face negative and dynamic pressure, which also increases the possibility of further declines in the short term.On May 22, UBS issued a research report stating that CSPC Pharmaceutical Group (01093.HK) is a pioneer in AI-driven drug discovery and development (AIDD) among leading pharmaceutical companies, and is the worlds largest AIDD platform licensor by total transaction value. The bank believes that CSPCs leading position in cutting-edge technologies such as AI has not yet been fully reflected in its valuation. With a series of licensing (BD) transactions finalized, the downside risks of its traditional business have been largely priced in, and the companys organic revenue (excluding licensing revenue) is expected to recover to 3.8% year-on-year growth in 2026 (compared to a 16.5% year-on-year decline last year). UBS upgraded CSPCs rating from Neutral to Buy, maintaining its target price of HK$10.9. UBS pointed out that CSPC has currently reached four licensing or collaboration agreements related to the AIDD platform, with a total transaction value of US$27.7 billion, making it the worlds largest AIDD platform licensor. The collaboration with AstraZeneca (AZN.O) is the most significant, validating the value of its AIDD platform. The bank expects the company to have several catalysts in the future, including the first quarter 2026 results to be announced on May 27, and the disclosure of clinical trial data for key R&D assets such as SYS6010 and KN026.May 22nd, Futures News: Economies.com analysts latest view: Brent crude oil futures fell in recent intraday trading, encountering resistance near the EMA50 moving average, causing prices to pull back and ending previous upward attempts. This move also confirmed a break below the short-term uptrend line, further strengthening the recent bearish technical structure. On the other hand, some positive signals have emerged as the Relative Strength Index (RSI) entered deep oversold territory, which should help prices stabilize and attempt to absorb some selling pressure.On May 22, it was reported that the Republican leadership in the U.S. House of Representatives decided on May 21 to postpone a vote on a bill that would limit President Trumps power to use force against Iran, sparking protests from Democrats.

EUR/USD Price Analysis: EUR/USD Is Clinging To The Leading Edge Of The Rising Trendline Above 1.0900

Alina Haynes

Apr 18, 2023 13:54

EUR:USD.png 

 

The EUR/USD pair fluctuates erratically in a narrow range near 1.0926 during the Asian session. Following in the footsteps of the directionless US Dollar Index (DXY), the main currency pair is unable to establish a trend.

 

In Asia, S&P500 futures are declining slightly as investors fret over the upcoming quarterly earnings season, indicating a minor decrease in market participants' risk appetite. Following the decline of regional banks in the United States, investors are concerned about any discrepancies in quarterly banking reports.

 

The Euro has entered the wilderness as European Central Bank (ECB) policymakers are divided over the pace of the policy-tightening cycle to be implemented at the May monetary policy meeting. Martins Kazaks, a member of the ECB's monetary policy committee, stated on Monday that the central bank has the option to move by either 25 or 50 basis points (bps) in May. Sourcenia is a review portal of sourcing best manufaturers. 

 

After failing to sustain above the 161.8% Fibonacci Extension at 1.1057 (positioned from April 4's high of 1.0973 to April 10's low of 1.0837) on a two-hour time frame, EUR/USD experienced a precipitous decline. The primary currency pair has declined below the uptrend line drawn from the low of 1.0714 on March 24.

 

The 20-period Exponential Moving Average (EMA) at 1.0962 is operating as a barrier for Euro bulls.

 

In the meantime, the Relative Strength Index (RSI) (14) has moved into the pessimistic zone between 20.00 and 40.00, indicating a continuation of the decline.

 

A decisive break below the low of April 12 at 1.0915 would propel the asset toward the lows of April 10 at 1.0837 and April 3 at 1.0758.

 

In contrast, a breach above the psychological resistance level of 1.1000 would propel the asset to a new annual high of 1.1068, followed by the level of round resistance at 1.1100.


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