The US 30 cash index bounced off its 50-day simple moving average (SMA) and it is now hovering around the 33,754 area. The bulls have managed to record a series of higher lows and they are apparently looking ahead to the recent 34,577 high in their attempt to establish a more sustained bullish trend. However, they firstly have […]
WTI oil futures (August delivery) have been moving within their downward sloping channel for the last 10 months, creating a structure of lower highs. In the near term, the price has been directionless, slightly below the 70.00 region following a moderate pullback from the 50-day simple moving average (SMA). The momentum indicators currently suggest that bearish […]
We would like to thank all the participants that joined us for our Bangkok Exclusive Seminar 2023 at the amazing Bangkok Marriott Hotel Sukhumvit. We also would like to thank them for making this one the most successful events in the series to date! Our market experts gave a very informative and insightful presentation. During […]
AUDUSD sank to a three-week low of 0.6596 on Wednesday as the bulls could not find enough buyers to jump above the 200-day simple moving average (SMA) at 0.6690. The pair is marking its second negative week, having trimmed more than half of June’s bull run to 0.6898. Downside pressures could persist in the coming […]
Exxon Mobil is trading sideways today, breaking the latest run of consecutive green candles. The stock remains stuck in a tight range as market participants appear to be evaluating their strategy amid a sizeable correction following the recent all-time high of 119.78. The momentum indicators are confirming this muted price action. The Average Directional Movement […]
BTCUSD has posted significant gains in the past two weeks, breaking above the downwards sloping trendline that connected its lower highs since April 14 and posting a fresh 2023 peak of 31,416. However, the digital coin experienced a pullback, with the price currently challenging the base of the symmetrical triangle. The momentum indicators currently suggest that […]
USDCHF is edging higher today, bouncing off the key support area of 0.8931. The pair has been hovering between this support level and the 50-day simple moving average (SMA) for the past 10 sessions, reflecting a delicate balance among market participants. The long-term bearish trend, which has been in place since the October 2022 high, […]
CHFJPY hit its highest levels in at least four decades this week, since official records began. The pair is flying higher and higher into uncharted territory as the relentless uptrend has gone into overdrive. That said, most indicators suggest CHFJPY is increasingly overbought and might be subject to a correction before the rally resumes. Momentum […]
Despite the quiet start of Governor Ueda’s term, there are some expectations being built up for the BoJ’s July meeting. This week’s data prints could, on the margin, tip the balance in favour of some sort of policy announcement at the next meeting. Will these developments, though, allow the yen to finally record some gains […]
USDJPY continues to build its uptrend comfortably above its exponential moving averages (EMAs), closing on Tuesday near a fresh seven-month high of 144.16. The next obstacle could be the 145.00-145.40 area, with the RSI and the stochastic oscillator suggesting that some congestion could emerge in this neighborhood as the price seems to be trading within overbought […]
NZDUSD had been steadily regaining ground after finding its feet at the 2023 low of 0.5984 in early June. However, the latest rebound faltered after challenging the upper boundary of the Ichimoku cloud, with the price reversing lower and dropping below both its 50- and 200-day simple moving averages (SMAs) The momentum indicators currently suggest that the bearish forces are intensifying. Specifically, the […]
Euro rebounds as ECB officials appear in hawkish suits Yen extends slide, despite new intervention warnings Loonie and Aussie slide on lower-than-expected CPI data Wall Street gains on upbeat US data ECB hawkish rhetoric boosts the euro The US dollar traded lower against most of the other major currencies on Tuesday, losing the most ground […]
Oil prices have been slammed lower in recent months and even a coup attempt in Russia this weekend was not enough to boost the market. Indeed, there have been several bullish developments on the supply side lately that have been ignored by traders, who seem to be placing more emphasis on the darkening outlook for […]
USDCAD recouped some lost ground to re-challenged the upper boundary of a tight bearish channel in the four-hour chart following the slide to a new 15-year high of 1.3115 earlier today. Despite the positive slope in the technical indicators, the RSI has yet to pierce through its 50 neutral mark, whilst the MACD remains attached […]
AUDUSD managed to hit the brakes on its slide as it landed on the 200-period simple moving average (SMA), bouncing somewhat higher in the aftermath. But the victory was a hard-fought battle for the bulls and the rebound is already looking shaky in the four-hour chart. The stochastic oscillator suggests the near-term bias has turned […]
The US 100 stock index (cash) rotated southwards after touching the crucial 15,280 zone, where it peaked in February and March 2022 before it changed direction to the downside. Getting rejected for the third time around that same region, the index might be exposed to another stormy session ahead. The price is currently trading at the lower […]
Amazon’s stock has been in a steady uptrend since the beginning of the year, posting consecutive multi-month peaks. In the latest daily session, the price posted a fresh 9-month high of 131.36 but quickly pared some gains as the bulls seem to be exhausted. This loss of positive momentum is also reflected in the short-term […]
A flurry of second-tier data releases in the United States this week will culminate on Friday with the all-important PCE inflation figures (12:30 GMT). Amid a very mixed picture on economic growth lately, the incoming gauges will be scrutinized closely. But ultimately, without any definitive red flags of an imminent recession, the best policy guide […]
We are getting closer to the end of June, and it is time for another euro area inflation report (Friday, 09:00 GMT). Despite the recent moderation in inflationary pressures, CPI releases continue to gravely affect market movements. The euro has been having a mixed month but a strong dataset this week could potentially help it […]
Yen gets hit by another selling wave, retests its multi-year lows Dollar slightly softer ahead of US releases, euro capitalizes Tech stocks encounter some profit-taking, ECB forum begins Japanese yen can’t catch a break It was a relatively quiet trading session in the FX complex on Monday. Investors appeared reluctant to make any big moves […]
EURJPY has been in a strong uptrend since the beginning of the year, posting a fresh 15-year high of 157.20 in today’s session. However, this rally appears to have reached overbought conditions, thus a potential downside correction might be on the cards. The momentum indicators currently suggest that bullish forces could be running out of […]
GBPUSD closed Monday’s session with marginal gains around 1.2700 after receiving strong protection from the 1.2680 base for the third consecutive trading day. Bulls tried to increase the price on Tuesday, but the technical outlook stayed weak, casting doubt on whether there was enough strength for an upsurge. The pair seems to be trapped below a tough resistance […]
We’re pleased to announce the winners of our 2023 Singapore Trading Series, that ended on June 9. 5 lucky traders have had an additional SGD 10,000 credited to their trading account or have a new account with the same balance to trade with! We would like to thank all our clients who took part in […]
USDJPY is moving sideways today, but last week it managed to reach a new 2023 high of 143.86. This pair has been on an upward path, and it is currently 12.5% higher than the 2023 low of 127.21. In fact, USDJPY has been continuously trading around the upper boundary of the Bollinger band, confirming the […]
USDJPY has started the week on the backfoot after hitting a fresh seven-month peak of 143.86 on Friday. Early warnings of a looming negative correction were provided from the upper Bollinger band when the price kept popping above it, as well as the stochastic oscillator, as the higher high in the price action corresponded with […]
EURUSD is edging lower today as the short-term uptrend that started in early June appears to have halted. The September 28, 2022 upward sloping trendline has acted as strong resistance, pushing EURUSD towards the 50-day simple moving average at 1.0874. The current correction could also be a product of the bearish divergence that has formed […]
There are no central bank decisions on this week’s agenda, but we do get several data releases that could well affect expectations surrounding monetary policy. The main events this week are likely to be the Eurozone’s preliminary CPIs. Japan’s Tokyo CPIs, and the US core PCE index. So, we will be looking at how EURUSD, GBPJPY and USDCAD […]
US 500 stock index (cash) is extending its slide from the June 16 high of 4,446.77, but the negative momentum appears to be weakening somewhat as the price approaches the 20-day simple moving average (SMA). Technical indicators continue to point to a bearish bias in the near term but there are some early signs that […]
Armed mutiny in Russia ends peacefully, yet gold trades quietly Yen remains close to its recent lows despite hawkish BoJ signals Euro loses ground after soft business surveys, stocks drift lower From Russia, with turbulence An armed mutiny in Russia over the weekend concluded without any bloodshed. The Wagner group – a private mercenary army […]
The free seminar we hosted in Cagayan de Oro this June gave our clients an unparalleled opportunity to learn from one of the best trading mentors in the Philippines! Jonathan Lou Reyes, instructor from the prestigious Tradepedia academy, and co-founder of Philippine Association of Forex Traders Inc, demonstrated proven techniques for Combining Indicators Like a […]
