Register for MT4 Demo Account

Register for xStation Account

Greenback Strengthened Amid Upbeat U.S Retail Sales Figures & Oil Prices Tumbled Down on U.S SPR Release

By Research Team Wednesday, Nov 17, 2021
NZD/USD

    • 10.15am ISTD1
    • High0.70012
    • Low0.698
    • Close0.69976

NZD/USD is trading at 0.69875, 0.08% down since previous day close. The Kiwi weakened against the strong USD after U.S released better than expected Retail Sales & Industrial Production data in the previous session. On regional front, the New Zealand issued soft GDT Prices Index which grew by just 1.9% versus 4.3% in the previous month. The mixed outcome of country’s PPI Input & Output data failed to create any major impact on NZD/USD. The focus will remain on upcoming RBNZ meeting which is to be held in next week showcasing interest rate decision. As seen in the chart, the Kiwi reversed down from major resistance level which indicates further downside. Hence, selling on pullback rallies may be recommended for the day in NZD/USD.

Read More… Read Less

Daily Outlook

NZD/USD

Intra Day
Near Day

Technical Levels

R3 0.71708
R2 0.70918
R1 0.70407
Turnaround 0.70128
S1 0.69617
S2 0.69338
S3 0.68548
By Research Team Wednesday, Nov 17, 2021
WTI OIL

    • 10.50am ISTD1
    • High79.53
    • Low78.9
    • Close79.06

WTI Oil is trading at $79.08, 0.22% down since previous day close. The Oil prices slid down below $80 on Wednesday after U.S President Joe Biden is planning to release Oil from Strategic Petroleum Reserve (SPR) in order to ease down mounting Oil prices. The American Petroleum Institute (API) report showed a rise in Oil stocks level by 0.65 mbpd which further lowered down the prices. The result of U.S Energy Information Administration (EIA) report will remain into focus for the day. As seen in the chart, although the Oil prices retraced down; yet it may still take a support of Fibo level 23.6. However, this indicates the chances of breakout on either side on an intraday basis.

Read More… Read Less

Daily Outlook

WTI Oil

Intra Day
Near Day

Technical Levels

R3 85.04000
R2 82.64000
R1 81.09000
Turnaround 80.24000
S1 78.69000
S2 77.84000
S3 75.44000
By Research Team Wednesday, Nov 17, 2021
US30

    • 10.32am ISTD1
    • High36105
    • Low36037
    • Close36061

US30 is trading at 36064, 0.16% up since previous day close. The U.S market seems to be trading flat to higher side on Wednesday after US issued upbeat Retail sales & Industrial Production data in the previous session. This indicates a progress in country’s economic conditions & a considerable rate of recovery after affected by pandemic Covid-19.  Besides this, the rising U.S inflation concern & U.S stimulus tapering down decision held last week made mixed momentum in global indices. The result of Housing data will remain into focus for the day. As seen in the chart, the US30 is consistently trading above the MA (10) & MA (20) which strongly indicates the continuation of buying bias on lower levels on the daily basis.

Read More… Read Less

Daily Outlook

US30

Intra Day
Near Day

Technical Levels

R3 36683.00000
R2 36389.00000
R1 36245.00000
Turnaround 35951.00000
S1 35951.00000
S2 35801.00000
S3 35507.00000
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms (XFLOW & MT4) with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

© 2021 XFlow Markets LLC, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

  • triangle.png
  • Regulated by FSA

    XFlow Markets is not required to hold any financial services license or authorization in Saint Vincent and the Grenadines to offer its products and services.

XFlow Markets is incorporated in Saint Vincent and the Grenadines with registration no. 255 LLC governed by the Limited Liability Companies Act Chapter 151, registered by the Financial Service Authority of Saint Vincent and the Grenadines.

Telephone number: +44 20 3966 8838 Working hours: 7:00 AM - 5:00 PM (GMT+0)

Get your bonus Instantly

Offer valid till 31st December 2021!