EURUSD bears jump into the action from near 1.0665 again Short-term oscillators point to no clear directional momentum But as long as the pair remains below 1.0665, the slide could continue EURUSD traded higher on Tuesday, extending Monday’s recovery, but the advance was stopped again near the key resistance territory of 1.0665, slightly above the […]
Apple reports Q3 financial results on Thursday after closing bell Revenue expected to contract but earnings will pick up Share price fell below 200-day SMA for the first time since March Solid year but financials lag The most valuable publicly traded company in the world has been exhibiting a strong performance in 2023, with its share […]
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Nvidia’s stock prints bearish trend pattern 400 could be critical for a negative reversal Nvidia’s stock has formed a bearish head and shoulders pattern near its all-time high of 497.90. This suggests that the upward trend of almost one year may be over. The negative structure is not officially approved as the bears have […]
EURCHF continues to edge aggressively higher It tests the support set by a long-term descending trendline Momentum indicators point to further upside EURCHF is edging higher again today, continuing on the strong uptrend that commenced after the pair registered its lowest level since September 26, 2022. EURCHF is actually recording six consecutive green candles for […]
EURGBP moves further away from the upper end of a prior range Both the MACD and the RSI indicate positive momentum These signs paint a cautiously positive short-term picture EURGBP bulls have gained the upper hand this week, distancing themselves from the key barrier of 0.8700, fractionally above which the pair has been oscillating since […]
Bank of Japan adjusts yield curve control policy again, but yen skids Yields edge lower after Treasury Department says will borrow less in Q2 Dollar mixed, euro extends gains, stocks perk up Yen not impressed by BoJ’s incremental move The Bank of Japan took another step towards policy normalization on Tuesday, tweaking its yield curve […]
The Bank of England meets as geopolitical developments affect market sentiment Another pause is priced in but Wednesday’s Fed gathering could unsettle expectations The statement is set for Thursday 12:00 GMT; press conference 30 minutes later Calendar also includes the final Manufacturing and Services PMI prints Data since September have been on the weak side With […]
GBPUSD stuck in a range after steep decline pauses Creates a pennant pattern, hinting at potential breakout Oscillators suggest that positive momentum is slowly picking up GBPUSD had been forming a profound structure of lower highs and lower lows since its 18-month peak of 1.3141. Although the pair managed to find its feet at the seven-month […]
EURJPY gains strong momentum; recoups previous losses Technical signals improve but major resistance intact EURJPY sped up to the 159.00 area on Tuesday after the Bank of Japan (BoJ) kept its yield curve control at 1.0%, but softened its language to allow any breaches above that threshold, disappointing those who expected a higher bar at […]
USDJPY distances itself below 150 ahead of BoJ rate decision Bullish trend loses steam; sentiment might worsen below 149.43 USDJPY could not reap strong gains above the 150.00 round level last week, coming under renewed selling pressure on Monday after a muted Friday. The weakening technical indicators and the break below the 20-day simple […]
EURUSD bounces higher as positive bias gains traction Price climbs above moving averages and ascending trendline But how convincing is this rebound? EURUSD is marching higher, pushing above its simple moving averages (SMA), but more importantly, the price action has moved back above the short-term ascending trendline. The momentum indicators are strongly bullish with the […]
Eurozone economy likely stagnated or contracted in third quarter Euro has been under selling pressure and could remain heavy Growth and inflation data will be released at 10:00 GMT Tuesday Flirting with recession The Eurozone economy has struggled this year, as consumers have been squeezed by rising mortgage costs and elevated energy prices. Economic growth […]
Gold hits $2,000 as Israel begins ‘second stage’ of war in Gaza, oil jumps too But safe haven demand eases on Monday as focus turns to central banks Dollar slips below 150 yen as yields consolidate ahead of Treasury announcement Markets on edge but no panic as Gaza conflict escalates Israel’s long-expected ground offensive into […]
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Gold surges to a fresh 5-month high amid increasing geopolitical tensions Pulls back below the 2,000 psychological mark in the following session Momentum indicators ease from overbought levels Gold has been in a steep uptrend since October 10, reclaiming crucial technical regions such as the 200-day simple moving average (SMA) and the 2,000 psychological mark before posting […]
Two sets of PMIs will be released on Tuesday and Friday respectively Improvement would be welcomed as Chinese support measures multiply Aussie to benefit from positive releases but outlook remains cloudy China continues to address domestic issues Following the gradual easing in global inflation rates over the summer, the market turned its focus firmly on […]
EURUSD has been switching between gains and losses around the lower band of a short-term bullish channel at 1.0540. The US core PCE inflation came as expected at 3.7% y/y on Friday, but personal spending clocked in slightly higher than analysts anticipated at 0.7%m/m, providing some support to the dollar. The technical signals are not encouraging, with […]
Policymakers argue surge in yields counts as hike US economy continues to fire on all cylinders Fed to stand pat, but may deliver a hawkish message Decision on Wednesday at 18:00 GMT; press conference at 18:30 GMT Yields do the work for the Fed Although at their last gathering Fed policymakers maintained their projections of […]
Bitcoin surges to a fresh 17-month high amid spot ETF frenzy Faces a minor setback probably due to profit taking A golden cross seems imminent on the daily chart Bitcoin jumps above $35,000 on ETF speculation The king of cryptocurrencies gained more than 11% on Tuesday after BlackRock’s iShares Bitcoin Trust appeared to be listed […]
Central bank meetings continue in earnest with BoJ, Fed and BoE Fed and BoE to likely stand pat, but BoJ might tweak policy again NFP report and Eurozone flash GDP and CPI data also in focus Fed pause likely to be of little relief for yields Just a few weeks ago the November FOMC meeting […]
Speculation of a BoJ policy tweak in October is mounting Will the BoJ raise the 10-year yield cap and would this boost the yen? Decision is expected on Tuesday, October 31 BoJ expected to raise inflation outlook The Bank of Japan will conclude its two-day monetary policy meeting on Tuesday and is widely anticipated to […]
Upside surprise in US GDP was not enough to boost the dollar Stock markets slide in the aftermath, euro little changed after ECB Gold advances, drawing fuel from yields and geopolitical escalation Dollar unable to gain on solid data Another stormy week for global markets comes to an end as investors continue to grapple with […]
GBPJPY rebounded strongly from a 3-month low Gets stuck in a range after the 50-day SMA curbs advance RSI and MACD are hovering around their neutral regions GBPJPY had been in a prolonged uptrend since January, posting an eight-year high of 186.75 on August 22 before experiencing a pullback. Even though the pair staged a solid recovery, it […]
USDJPY unlocks new high above 150 but with weak momentum Technical signals mixed; support at 149.43 USDJPY escaped the FX intervention risk on Thursday despite closing marginally above the 150 round level for the second consecutive day and charting a new one-year high of 150.76. The pair seems to have pierced an ascending triangle on […]
USDJPY unlocks new one-year high Another positive close could confirm bullish formation USDJPY has been moving back and forth around the 150 round level, hitting a high of 150.76 and a low of 149.84 throughout the day. The upbeat US Q3 GDP report did not excite the bulls, but hopes for a continuation higher have not […]
AMD stock has generated a structure of lower highs and lower lows Its close below the 200-day SMA deteriorates the outlook Momentum indicators aggressively tilted to the bearish side AMD’s stock has been forming a bearish technical pattern following its 2023 peak of 131.90 on June 13. In the previous daily session, the price closed […]
AMD will release its quarterly earnings on Tuesday, October 31 Earnings growth expected to turn positive, after sharp declines Valuation is slightly stretched, but shares seem attractive overall AMD enters the AI wars The artificial intelligence (AI) revolution has taken the semiconductor industry by storm, generating an enormous amount of demand for advanced chips that […]
CHFJPY trades sideways today, a tad below the all-time high Intervention threat increases as JPY crosses reach new highs Momentum indicators show increasing signs of rally exhaustion CHFJPY is trying to record a green candle today as it remains very close to its all-time high of 168.40. The latest upleg from the October 3 low […]
WTI futures bounce off the lower end of the Ichimoku cloud But their rebound is being held down by the 50-day SMA Momentum indicators got rejected before entering bullish territories WTI oil futures (December delivery) had been in a steady advance since their October bottom of 82.10 before experiencing a pullback. Although the commodity managed to halt its […]
