FxWirePro- Major Crypto levels and bias summary 
Stock Futures Dip as Investors Await Key Payrolls Data 
FxWirePro: AUD/USD drifts lower, uninspired by jobs beat 
FxWirePro: USD/JPY edges higher as the yen remains vulnerable despite repeated warnings of intervention. 
ETH Bounces as Shorts Cover, Yet ETF Bleed Warns $1,850 Resistance Won’t Break 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
US Gas Market Poised for Supercycle: Bernstein Analysts 
FxWirePro: USD/ZAR remains buoyant, looks to extend gains 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
AUDJPY Bears Take a Breather at 111.50, But ‘Sell on Rallies’ Still Eyes 110 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
FxWirePro: AUD/USD eases after Australian mixed CPI data 
WTI crude prices spike above DMAs after stern bullish candle with big real body last week (refer daily chart). For now, upswings seem to be most likely upon bullish DMA and MACD crossovers coupled with intensified bullish momentum as both leading oscillators (RSI & stochastic curves) show upwards convergence to the price rallies.
While consolidation phase in the major trend breaks out symmetric triangle resistance (refer monthly chart). The current major trend appears to be little edgy at 50% Fibonacci levels on shooting star formation, where both leading oscillators on this timeframe signal overbought pressures.
Well, the brent crude, the global benchmark, was up about 0.68% to $76.73 a barrel on London’s Intercontinental Exchange. West Texas Intermediate futures were trading up 0.23% at $69.03 a barrel on the New York Mercantile Exchange.
Energy commodities analysts project more than one million barrels a day of Iran's roughly 2.5 million barrels a day of exports could be at risk. While Washington has contended that countries eliminate their purchases of Iranian oil.
Meanwhile, crude oil prices surge as stock markets hit record highs and the U.S. and Mexico reached a preliminary deal to revamp their trade agreement.
Trade recommendation:
On hedging grounds, we maintain short positions in ICE Brent calendar spread (short ICE Dec 18 vs ICE Dec 19), short NYMEX WTI Sep/Oct’18 time spread and short NYMEX WTI Oct’18 versus long Brent Oct’18 contract.
Currency Strength Index: FxWirePro's hourly EUR spot index has shown 40 (which is bullish), while USD is flashing at -4 (neutral), while articulating at 12:05 GMT.
For more details on the index, please refer below weblink:
