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USDJPY has been trading within an upward sloping channel since mid-March, crossing above crucial technical levels and posting consecutive higher highs. However, the pair seems to be consolidating in the near term after failing to breach the November 2022 high of 142.24. The momentum indicators currently suggest that the bullish forces are in control. Specifically, the RSI […]
EURGBP marked a 10-month low of 0.8517 at the bottom of the four-month-old bearish channel on Monday, fully reversing its December-February ascent ahead of the Bank of England’s policy announcement due on Thursday. The 61.8% Fibonacci retracement of the 0.8200-0.9249 uptrend has been cooling downside pressures since the start of the week as well. Still, […]
Citigroup is stuck in the middle of the 42.81-53.90 rectangle that has been dominating the price action since March 2022. It is currently below the February 2, 2023 downward sloping trendline and hovering around the various simple moving averages (SMAs) used, pointing to a delicate balance due to increased indecisiveness from market participants. The bears have […]
Despite the Fed’s updated dot plot last week signaling that two more rate hikes may be on the cards, market participants are finding it hard to believe it. Fed Chair Powell did not convince them either when he held the press conference following the decision. However, he is being given another opportunity to pass his message this […]
Apple’s stock has been in a steep uptrend since late December, smashing historical resistance levels and posting a fresh all-time high of 186.37 on Thursday. The big question that lies ahead though is whether the rally can resume without a sizable pullback and at which level will the stock price peak. The momentum indicators currently […]
USDJPY has come under selling pressure after hitting a seven-month high of 142.24 earlier today. Caution likely set in as the pair approached the 61.8% Fibonacci retracement level of the October 2022-January 2023 downtrend at 142.49. But whilst the stochastic oscillator is indicating further losses in the short term as it has gone into a […]
The much-anticipated upward AUDUSD breakout managed to quickly disappoint the bulls. The pair managed to record a 4-month high of 0.6899 before quickly dropping. It currently trades around 0.6775, back inside the rectangle that has been dominating the price action since February 24, 2023, and below the November 3, 2022 upward sloping trendline. Apart from […]
Gold experienced a pullback after peaking at the all-time high of 2,079 in early May, falling beneath its 2,000 psychological mark and the 50-day simple moving average (SMA). Although bullion has been stuck within a tight range for the past month, the formation of a structure of lower highs is hinting at a deteriorating technical picture. The momentum […]
On June 11, we held a trading seminar in Taichung on mastering the swing trading strategy to conquer any financial market. Participants learned more about the different stages of the economic cycle and how to spot trading opportunities, even during a global recession. In addition, we offered them the opportunity to network and win big […]
EURCHF has returned inside the rectangle that has been defining the price action since October 13, 2022. The bears must feel under the weather as their latest downward breakout failed once again, despite almost testing the 0.9665 level. They should probably regroup as the bulls appear determined to stage a proper rally towards the higher […]
China rate cut unable to lift market mood as doubts grow about economy Wall Street futures struggle ahead of Powell testimony, dollar drifts sideways Yen’s freefall pauses, pound softer ahead of CPI data, aussie slides on RBA minutes China stimulus: too little too late? Equity markets were mostly on the backfoot again on Tuesday as […]
The US 100 index is edging slightly lower after recording another 2023 high. The index stands around 30% higher than the March 13, 2023 low, with the move since the April consolidation being almost exponential. The bears are again trying to record a small pullback. Their last two attempts to stage a correction, in May […]
EURJPY experienced a huge week after a bullish triangle breakout, appreciating by more than 3.0% to an almost 15-year high of 155.37 in what was the fastest rally in more than a decade. The bulls are trying to revive their positive momentum near their recent highs as the RSI and the stochastic oscillator are flagging overbought conditions. Note […]
GBPUSD has been in a prolonged uptrend since October 2022 supported by its long-term ascending trendline. Even though the pair stormed to a fresh 14-month high of 1.2847 on Friday, it quickly pared some gains due to reaching overbought conditions. The momentum indicators currently suggest that bullish forces are holding the upper hand. Specifically, the RSI […]
The Swiss National Bank (SNB) is widely expected to raise interest rates at 07:30 GMT Thursday, although markets are divided about the size of the move. With inflation grinding lower, the risks seem tilted towards a smaller rate increase that could briefly hurt the Swiss franc, although its overall path will also depend on global […]
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USDJPY has been trading within an upward sloping channel since mid-March, crossing above crucial technical levels and posting consecutive higher highs. Moreover, the ascending 50-day simple moving average (SMA) is set to post a golden cross with the 200-day SMA, which could enable the pair to extend its advance. The momentum indicators currently suggest that bullish forces […]
The US 500 stock index (cash) is pulling back slightly from Friday’s highs when it briefly hit a 14-month peak of 4,446.77. The index has been on a roll during June, gaining more than 5%, but it could be about to record its first two consecutive daily declines this month as the positive momentum wanes. […]
With the Bank of England (BoE) dropping calls that the UK is facing its longest recession since records began, investors are hoping, or even demanding, of more aggressive action. With that in mind, Thursday’s monetary policy decision at 11:00 GMT may attract special attention as traders may be eager to see whether Bailey and co […]
The Bank of England (BoE) and the Swiss National Bank (SNB) will feature in the next series of central bank meetings on Thursday. Investors are speculating that some policymakers might debate a bolder half-point rate hike, with the talks likely being more intense within the SNB. Meanwhile in the eurozone, Friday’s preliminary business PMI figures […]
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Equities start week on the backfoot amid uncertainties; can Powell change the mood? China steps up effort to boost economy but Asian stocks unimpressed Pound shines ahead of BoE decision, SNB coming up too, dollar crawls off lows Cautious tone as monetary policy doubts overwhelm Another busy week has gotten underway as markets are hoping […]
EURUSD had been experiencing a downside correction after peaking at the 13-month high of 1.1094. However, the pair has been regaining ground since it found its feet at the May low of 1.0633, crossing above its 50-day simple moving average (SMA) before its rebound stalled at the upper end of the Ichimoku cloud. The momentum indicators […]
We delightfully invited our VIP clients for an exclusive workshop and dinner in Cape Town, to thank them for their continued support. Guests were treated to an exclusive workshop by Avramis Despotis, the founder of Tradepedia. With decades of experience, Avramis is one of the top traders and educators in the industry, and he shared […]
The US dollar index (futures) got hammered during an intense week of central bank meetings despite the Fed telegraphing additional rate hikes ahead. The index could not climb back above the 103.00 level and the key ascending line, activating fresh selling towards 101.61 on Thursday. The RSI and stochastic oscillator have yet to confirm oversold conditions, […]
Our teams in Cyprus and Greece recently donated their unwanted clothes, making a significant impact on the lives of those in need. We collected children’s and adults’ clothes to support two remarkable charities: PASYKAF and Theofilos. Pancyprian Association of Cancer Patients and Friends (PASYKAF) provides free health and emotional support services to cancer patients. They […]
The central bank theme will continue in the coming week with the Bank of England and Swiss National Bank next to announce their interest rate decisions. Both are expected to raise their policy rates but is there room for hawkish surprises? The flash PMIs for June will also be on investors’ radar as some regions […]
Bitcoin and major altcoins have been experiencing another tough and volatile week, with the king of cryptocurrencies posting a fresh three-month low on Thursday mainly on the back of a more hawkish than expected FOMC meeting. Apart from that, the US regulatory crackdown continues to rattle the sector, while AI mania continues to steal the […]
After almost touching a record high last month, gold prices have corrected lower, trampled under the weight of rising yields and a resurgent US dollar as markets priced in a higher-for-longer scenario for Fed rates. These forces could keep bullion under pressure for now, although in the bigger picture, the trend of sovereign buying by […]
