NZDUSD halts decline at a fresh 9-month low of 0.5858 Hovers around 61.8% Fibonacci retracement of the 0.5510-0.6535 upleg in the past three weeks Momentum indicators remain tilted to the bearish side, increasing downside risks NZDUSD has been stuck in a steep downtrend since its five-month high of 0.6410 in mid-July. Even though the pair appears to […]
– EURUSD hovers near key 1.0665 ahead of Fed decision – A dovish BoE could trigger reversal confirmation in GBPUSD – BoJ to stand pat; may help USDJPY extend its uptrend 0:00 Intro 0:25 EURUSD 3:37 GBPUSD 6:14 USDJPY For more information on the topics discussed in this video, including detailed charts and tables, read […]
Oil prices continue to rise as tight supply kicks in Rising bond yields put pressure on equity markets Dollar rally takes a breather, helping to boost gold Soaring oil prices spell trouble for euro and yen A pivotal week for global markets kicks off with another sharp spike in oil prices. The non-stop rally has […]
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Gold in a congested technical territory, capped by 50-day SMA A decisive close above the trendline could shift the short-term picture to bullish Momentum indicators endorse latest advance Gold has been edging higher in the past few sessions, rebounding strongly from its drop below the 200-day simple moving average (SMA). Furthermore, the short-term oscillators suggest that bullish forces […]
The US 500 cash index tries to recover from Friday’s decent red candle The bears are trying to increase the bearish pressure by aiming for a lower low The momentum indicators could open the door to a further bearish correction The US 500 cash index is in the green today as the market is anxiously […]
AUDUSD bulls anxiously pushing for a sizeable bullish move The pair remains close to the new 2023 low recorded on September 6. Only the stochastic oscillator supports the muted upleg at this juncture. AUDUSD is experiencing its third straight green candle, but the market is probably taking a defensive stance ahead of next week’s key events. The […]
Bitcoin dropped below 25,000 on Monday for the first time since June Quickly reclaimed 26,000 amid broader risk-on sentiment in markets The formation of a death cross in the daily chart darkens outlook Bitcoin recovers from 3-month low; caution ahead On Monday, the price of Bitcoin declined below the 25,000 mark for the first time […]
A stormy week lies ahead, featuring central bank meetings in the United States, United Kingdom, Japan, and Switzerland. The Fed is almost certain to hit the pause button, so markets will focus on the updated interest rate projections instead. There is more scope for surprises from the Bank of England and the Swiss National Bank, […]
Central bank decisions in United States, United Kingdom, Japan, and Switzerland Fed almost certain to hit pause, markets will focus on updated rate projections More scope for surprises from Bank of England and Swiss National Bank instead Fed – mind the dots The central bank bonanza will kick off with the Fed on Wednesday. […]
Euro tumbles as ECB raises rates but hints at pause US dollar hits 6-month high after US retail sales beat Stocks rally on upbeat Chinese data but watch out for triple witching ECB makes surprise hike despite gloomy outlook The European Central Bank raised its key lending rates by 25 basis points on Thursday, taking […]
USDCAD in an aggressive decline from its 5-month high of 1.3693 Bears eye the crucial 200-day SMA Momentum indicators suggest more pain in the short term USDCAD had staged a massive rebound after finding its feet at the one-year low of 1.3091 in mid-July. However, the pair has been undergoing a downside correction since its rejection […]
Gentle downward move continues ahead of key events GBPJPY ready to test a key area as intervention rumours linger Momentum indicators appear to have reset after the strong rally GBPJPY is trading higher today as the market is preparing for next week’s events. The bears are trying to stage a pullback, but such a move […]
NZDUSD pauses decline at a fresh 9-month low of 0.5858 Hovers around 61.8% Fibonacci retracement of the 0.5510-0.6535 upleg in the past two weeks Despite recent bounce momentum indicators remain tilted to the bearish side NZDUSD has been stuck in a steep downtrend since mid-July when it posted a fresh five-month high of 0.6410. Even though […]
Markets post a risk-on session despite hotter-than-expected headline CPI Renewed trade tensions affect electric vehicle manufacturer stocks and Apple Tech giants discuss with US lawmakers over the need for AI regulation Equities gain despite upbeat inflation reading On Wednesday, markets got an updated US inflation report, which was highly anticipated as it would assess the […]
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ECB decision coming up, but is it a lose-lose for the euro? Dollar chops around after US inflation, awaits retail sales Gold extends losing streak despite falling bond yields Will the ECB sink the euro? The highlight today will be the European Central Bank decision, where markets are pricing in a 65% probability of a […]
AUDUSD hit a fresh 10-month bottom of 0.6356 last week Regained some ground but clearly not out of the woods yet Momentum indicators suggest that the rebound could strengthen AUDUSD had been in an aggressive decline following a double top pattern in mid-July, with the pair posting consecutive multi-month lows. Even though the price managed to […]
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EURUSD continues to hover around the 1.0720-1.0727 area Short-term bearish trend remains firmly in place But the stochastic oscillator could open the door to a bullish move EURUSD continues to hover around the 1.0720-1.0727 area as market participants are preparing for the next key events. All eyes are on the stochastic oscillator at this juncture. It […]
Canadian CPI could further strengthen Bank of Canada prioritizes inflation over growth Loonie could show temporary reaction BoC sees no rate cuts in sight The Bank of Canada (BoC) kept interest rates unchanged at 5.0% earlier this month, making investors think that the tightening cycle has probably run its course. While futures markets expect interest […]
EURUSD is trying to register its fourth consecutive green candle Short-term bearish trend remains dominant But the stochastic could open the door to a bullish reaction EURUSD is hovering at its lowest point since the late-May trough as the market is preparing for the next key events. The bearish pressure persists but it appears to […]
Rebound attempt falters as selling pressure intensifies Short-term outlook deteriorates Can the stock find its feet or is or is this the start of a new bearish phase? Apple stock has reversed lower after its latest upswing was hindered by the 20-day simple moving average (SMA) in the 180.00 region. Selling pressure has intensified today, […]
US inflation data to set the tone for USD and riskier plays Euro gets a boost from ECB reports, oil prices power higher Tech sector leads stock markets down, gold nurses losses US CPI in the limelight Traders are locked and loaded for another edition of US inflation data today. Markets have concluded that the […]
EURGBP posts a higher high to climb to a one-month peak Short-term bias increasingly bullish according to technical indicators But long-term descending trendline could curb advances EURGBP is scaling a higher high on Wednesday, climbing above the 100-day simple moving average (SMA), having already reclaimed the 20- and 50-day SMAs. The momentum indicators point to […]
NZDUSD hovers near 10-month low A close above 20-day SMA needed Hopes for upside reversal remain NZDUSD is unable to go beyond its 20-day simple moving average (SMA) even after persistently attempting to rebound around the falling support line from March 2023. The pair registered a ten-month low of 0.5884 last week, but there is […]
Bitcoin hovers within 25,000-26,000 range in September Rebounded after posting fresh low just shy of June bottom Death cross points to more losses but momentum indicators diverge BTCUSD (Bitcoin) has been trading without clear direction in the short term but extended its structure of lower lows. Interestingly, the completion of a death cross between the 50- […]
USDJPY bulls remain in control despite intervention rumours Momentum indicators are not supportive of the bulls’ intentions Could the bears stage a move towards the 144.99 area? USDJPY remains a tad below its 2023 high as the bullish pressure continues unabated. The market appears to be testing the Japanese Finance Ministry’s nerves. In the meantime, the momentum […]
Stellar year for Swiss franc, tied for best-performing major currency End to negative rates, FX interventions, and safety flows helped Next week’s SNB decision and risk tone could decide franc’s fate Flying under the radar Even though it hasn’t attracted many headlines, the Swiss franc has gone on a silent winning streak. It is virtually […]
USDCAD trims some gains after eight consecutive weeks of gains Level of confidence weakens but uptrend intact Focus stays on 1.3570 USDCAD faced some profit-taking marginally below the 1.3700 round level, erasing some gains to meet support near its 20-day simple moving average (SMA) at 1.3570. The line was last tested on the first trading […]
