The Eurozone economy seems to be rolling over. Business surveys paint an ugly picture, especially in Germany, where economic activity is already contracting. And yet, the euro has not absorbed any significant damage. What’s behind this FX resilience and is a ‘reality check’ imminent? Storm clouds gathering It’s been a tough few quarters for the […]
GBPUSD drifted back lower after the 20-day simple moving average (SMA) capped yesterday’s bounce off the 1.2615 floor for the fifth consecutive day. The RSI has changed direction to the downside in the bearish area, reflecting strengthening selling attitude, though with the MACD stalling its decline near its red signal line, the pair might have another […]
After a prolonged period of sideways trading during the summer months, BTCUSD (Bitcoin) experienced a vast sell-off, dropping to a fresh two-month low of 25,350. Nevertheless, the king of cryptos appears to have temporarily paused its decline, with the price trading without clear direction for the past few sessions. The momentum indicators currently suggest that bearish […]
The German 40 index (cash) corrected higher after completing a bullish morning star pattern near its July low of 15,455 and just above the 23.6% Fibonacci retracement of the October 20222-August 2023 uptrend. The 200-day exponential moving average (EMA) made this area important to watch as well. The rising RSI is an encouraging sign of […]
Global bond yields plummet after disappointing business surveys Gold and stocks capitalize, Nvidia earnings add fuel to Nasdaq rally Major FX pairs swing violently, Japanese yen comes out on top Soft PMIs highlight global slowdown It was an electrifying trading session in financial markets, after a round of disappointing business surveys from the major economies […]
WTI oil futures (October delivery) have been steadily losing ground after peaking at the nine-month high of 84.15 on August 10. Moreover, bearish pressures have not shown any sign of easing despite the completion of a golden cross between the 50- and 200-day simple moving averages (SMAs). The momentum indicators currently suggest that bearish forces are holding the […]
AUDUSD stayed above the 2020 support trendline for the third time since the pandemic fallout. This happened after a bearish five-week strike that caused the price to drop to a nine-month low of 0.6363. The pair is set to post its first weekly gain as the price picks up positive momentum towards its 20-day simple moving average […]
The JP 225 index (cash) has been experiencing a downside correction after posting a new record high of 34,006 in mid-June. Even though the price managed to halt its retreat and recoup minor losses, its structure of lower highs and lower lows remains intact. The momentum indicators currently suggest that bullish forces are slowly picking up. Specifically, the […]
EURUSD extended its slide following the disappointing Euro area PMIs, breaking below the 1.0830 support, marked by the lows of June 30 and July 6. The pair is already well below the prior uptrend line drawn from the low of September 26 and it is now testing the 200-day exponential moving average (EMA). A break […]
Nvidia has been the best performing stock of the S&P 500 in 2023, gaining around 300% and marching to consecutive higher highs. Despite experiencing a pullback below its 50-day simple moving average (SMA) for the first time in eight months, the stock bounced back and is set to revisit its record high ahead of its […]
Gold is looking to exit a bearish channel in the four-hour chart after its sell-off stalled around the 1,884 level. Encouragingly, the precious metal has surpassed its 20- and 50-period simple moving averages (SMAs), making its latest rebound more credible. The positive momentum in the technical indicators is further boosting hopes for an upside reversal; the MACD has […]
NZDUSD has been in a steep decline after peaking at the five-month high of 0.6410 in July. However, the pair has managed to temporarily pause its retreat following its bounce off 0.5902, which is the 61.8% Fibonacci retracement of the 0.5510-0.6536 upleg. The short-term oscillators currently suggest that positive momentum is picking up but bearish forces remain […]
Dollar trades mixed as Jackson Hole draws closer Fed’s Barkin sees reacceleration scenario Euro falls on PMIs, UK PMIs next Wall Street turns spotlight to Nvidia earnings Fed’s Barkin adds to the likelihood of more Fed hikes The US dollar traded mixed against the other major currencies on Tuesday as traders may be reluctant to […]
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USDJPY topped twice around the 146.40 barrier from last November, but a negative trend reversal cannot be warranted yet. The RSI has changed direction to the downside after peaking near its 70 overbought mark, while the MACD has slowed down in the positive area. Still, the latter has not crossed below its red signal line, while […]
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We’re excited to announce the winners of Brunei’s Lucky Draw promotion which closed on July 28th. The winners and their prizes can be seen below. Winners List Prizes MT4/MT5 account ID Prize 1: BND 3,500* cash balance 2444491 Prize 2: BND 2,500* cash balance 67047475 Prize 3: BND 2,000* cash balance 38008643 Prize 4-8: BND […]
USDCHF has been steadily gaining ground in the four-hour chart after bouncing off the July double bottom region of 0.8551. Even though the pair has been forming a structure of higher lows in the short term, its failure to post higher highs has been slowly shifting the technical picture to neutral. The momentum indicators currently […]
Silver prices are trading above a long-term uptrend line taken from the lows of September, but below a downtrend line drawn from the peaks in May. The combination suggests silver is locked inside a symmetrical triangle pattern, a break of which will likely reveal the next major directional wave. Momentum oscillators paint a relatively neutral […]
The UK 100 cash index is finally recording a green candle today after seven consecutive red candles that pushed it towards the 7,200 region. It tested the March 20, 2023 low at 7,205 for the second time, but the bears proved powerless to record a new 2023 low, opening the door to the current rebound. […]
With US Treasury yields and the dollar marching north, gold has come under selling interest, breaking last week below the key zone of $1,900. Although the short-term picture of the precious metal appears to have turned bearish, whether larger declines are in store will likely depend on Fed Chair Powell’s monetary policy remarks at Jackson […]
Nvidia is set to unveil its financial results for the second quarter of 2023 on Wednesday, August 23, after Wall Street’s closing bell. The leading chipmaker is expected to post record earnings and revenue figures driven by the eruption of artificial intelligence (AI), which has massively increased demand for its high-tech chips. Can a solid performance […]
The Fed’s annual economic symposium will kick off on Thursday, but the highlight will be Chairman Powell’s flagship speech on Friday. With US yields trading at their highest levels of this cycle, his signals on interest rates could either add fuel to this rally or trigger a correction, driving the dollar accordingly. Fed summer camp […]
Taiwan semiconductor’ stock (TSMC) turned upwards after hitting its 200-day simple moving average (SMA) at 89.45 last Friday, looking to repeat May’s bullish pattern. The market seems to have reached oversold conditions as the stochastic oscillator and the RSI are now pushing for an upside reversal above 20 and 30 respectively. Monday’s close above the […]
EURGBP is trading sideways today, not far from the recent July 11, 2023 low of 0.8503. The bears are actually trying to take advantage of the head-and-shoulders pattern and achieve at least a drop towards the 0.8500 area, with the full-height pattern target being in the 0.8400 region. The momentum indicators appear to be fully […]
We are pleased to announce the 27 winners of our Summer Affiliate League 2023 competition that ran from 1st of June to 15th of August 2023. A total of $30,000 in cash prizes, were won by the affiliates who signed up the most clients with the largest trading volume during the promotional period! Affiliates League […]
Our Taichung seminar in August was an extraordinary event filled with valuable insights and thrilling activities! Led by Lewis Huang, founder of the OPAS Trading School, it offered proven techniques for utilising support and resistance levels, coupled with a stop-loss, to minimise risk and maximise profits. Through live analysis and hands-on exercises, attendees gained the […]
Dollar pulls back on cautious trading ahead of Jackson Hole 10-year Treasury yields extend rally to levels last seen in 2007 China’s central bank sets yuan mid-point higher than expected Nvidia lifts both Nasdaq and S&P 500 ahead of its earnings Dollar slides but yields keep surging; Jackson Hole awaited The US dollar traded lower […]
EURJPY has been in a prolonged uptrend since the beginning of the year, posting consecutive multi-year highs. However, in the last week, the pair has been flat near 15-year peaks, with buyers struggling to push the price higher on fears of an impending intervention by Japanese authorities. The momentum indicators currently suggest that bullish forces […]
GBPUSD has been gradually rising since posting a double bounce near the 1.2615 area, exiting the one-month-old bearish channel recently. The pair opened above the constraining 20-day simple moving average (SMA) on Tuesday and is currently trying to extend its upleg above the 50-day SMA at 1.2790. This area provided strong resistance earlier this month, […]
