GBPJPY slid below 50-day SMA last week after BoE’s unexpected decision to hold rates steady Found its feet at the lower end of the Ichimoku cloud and has been directionless since then Are the bulls ready to re-take charge? GBPJPY had been stuck in a prolonged uptrend since January, posting an eight-year high of 186.75 on August […]
Ethereum has been in a consolidation phase for the past month Death cross between 50- and 200-day SMAs fails to induce downside pressures Momentum indicators suggest intensifying buying interest ETHUSD (Ethereum) experienced a strong pullback after peaking at 2,030 in mid-July, touching a six-month low of 1,513. Meanwhile, the digital asset has been directionless for […]
GBPUSD takes a breather after aggressive sell-off Recovery could continue, but the outlook remains? gloomy Next major resistance region around 1.2300 GBPUSD is hoping for a positive daily close after six consecutive losing sessions. The 1.2100 number put the brakes on the downfall on Thursday, helping the price to climb by 0.60% so far in the day. The stochastic oscillator and the RSI hint at oversold conditions, justifying […]
US equity indices retreat as investors face ‘higher for longer’ reality Wall Street’s fear gauge, VIX, posts a fresh 4-month peak Treasury yields surge to consecutive cycle highs, increasing appetite for bonds Bearish sentiment pervades Wall Street Equity markets have been under downside pressure lately as investors are bracing for a protracted period of high […]
AUDUSD extends downtrend Short-term outlook is gloomy, but recovery attempts still likely Eyes on 0.6300 ahead of RBA meeting AUDUSD plunged to a new 10-month low of 0.6330 on Wednesday, putting the downtrend from July back into play ahead of RBA’s policy decision on Tuesday. The clear bearish breakout below the 2020 support trendline has […]
Dollar extends gains on ‘higher for longer’ narrative Dollar/yen nears 150 zone, risk of intervention rises Oil skyrockets as US inventories tumble Wall street closes mixed despite rally in yields Fed’s Kashkari reiterates hawkish view The US dollar continued marching north against all but one of the other major currencies on Wednesday, gaining the most […]
US 30 cash index experiences a strong bearish move, dropping 7% from July peak It broke below its 200-day simple moving average for the first time since March Momentum indicators are strongly bearish; all eyes on the stochastic oscillator The US 30 cash index is recording another red candle as the bears are firmly in […]
WTI futures climb to their highest level since August 2022 Advance shows no signs of easing so far, bulls eye crucial 100 psychological mark But RSI, stochastics and Bollinger bands point at overbought conditions WTI oil futures (November delivery) have been in a steady advance since July, climbing to an 11-month peak of 95.02 in today’s session before […]
USDCHF is experiencing its longest winning streak since 1975, currently set to post its eleventh green consecutive week near a six-month high of 0.9192. The RSI and the stochastic oscillators are comfortably above their overbought levels. Hence, a downside correction in the short-term would not be very surprising, as the price is flirting with the 0.9200 psychological mark. The 78.6% Fibonacci […]
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Gold retreats below the 1,900 handle to its lowest level in a month Decline shows no signs of easing, while widening Bollinger bands point to high volatility Momentum indicators deep in their oversold territories, hinting at potential bounce Gold has been in a solid downtrend in the four-hour chart, violating both its 50- and 200-period […]
Nvidia stock has retreated 16% from its August record highs Uptrend remains intact, but drop under 402.00 can change that Huge earnings gap below is a clear risk if market moves lower Nvidia shares have moved sharply lower since reaching a new record high in late August. Yet, the price structure of higher highs […]
Dollar at 10-month highs, 10-yr yield jumps to new 16-year peak Dollar/yen extends uptrend, intervention risks grow Wall Street tumbles on a blend of investor concerns Dollar stands tall ahead of core PCE inflation The dollar traded higher against all the other major currencies on Tuesday and continued trading on the front foot today as […]
USDJPY marks new higher highs The current state may be close to overbought territory Bulls need a durable move above 149.00 USDJPY managed to keep a footing within a short-term ascending channel and softly rise to a one-year high of 149.17 on Tuesday. That said, the price momentum remains weak and the RSI and the stochastic oscillator […]
NZDUSD continues to hover around the 0.5920 level Last week’s key events did not result in a new trend in NZDUSD The momentum indicators have taken a back seat at this stage NZDUSD is trading lower, testing the support set by the May 15, 2022 low of 0.5920. The bears have managed to stop the […]
Tesla stock experiences a pullback from September high Dipped beneath its 50-day SMA before recouping some losses Further declines could send the price to test the crucial ascending trendline Tesla’s stock has been undergoing a solid downside correction after peaking at the 278.00 region in mid-September. Despite yesterday’s green candle, the short-term indicators are pointing […]
EURCHF jumps 1% in a week after surprise SNB pause Short-term bias is still bullish But obstacles lie ahead EURCHF has leapt higher over the past week, climbing well above its 50-day simple moving average (MA) and entering the Ichimoku cloud. The momentum indicators are maintaining the short-term positive bias as the RSI is edging […]
Gold prices have remained stable lately, even as interest rates shot higher Central bank purchases have boosted demand, offsetting impact from rates Downside risks dominate for now, but longer-term outlook seems bright Gold stable, despite ‘bad news’ Gold continues to trade with impressive resilience. Even though conditions in financial markets have turned against the precious […]
EURUSD meets key support area Oversold conditions are met, but threats remain Bulls need to drive above 1.0780 EURUSD shifted to the sidelines on the four-hour chart after Monday’s decline halted at the lower boundary of the two-month-old bearish channel. The pair remained resilient within the channel despite marking a new lower low at 1.0569 on […]
US 10-year yield hits 16-year high as no letup in hawkish Fed rhetoric Dollar powers ahead, euro and pound crumble, yen in danger zone Stocks resume decline after late rebound on Wall Street Bond market rout deepens The selloff in bond markets is showing no sign of easing as investors are dumping government securities in […]
Inflation data in the spotlight as the market prices in rate cuts The ECB kept the door open to more rate hikes, but growth remains a big thorn German CPI due out on Thursday; the euro area aggregate on Friday (09:00 GMT) Has the ECB hiked for the last time? Contrary to the other key […]
Fed lifts dot plot, adds fuel to dollar’s engines Focus turns to core PCE index, the Fed’s preferred inflation gauge Slowdown could hurt the dollar, but broader outlook remains bright The data is released on Friday, at 12:30 GMT Fed signals another hike, fewer cuts in 2024 The Fed decided to keep rates steady last […]
GBPUSD set to close the month with heavy losses Short-term risk bearish but oversold conditions evident Support could emerge within the 1.2100 area GBPUSD has been in the red almost every single week since peaking at a 15-month high of 1.3141 in mid-July, with selling forces intensifying significantly in September. The pair is 4.0% down […]
EURJPY stuck in a tight range during September Hovers a tad below 15-year peaks supported by 50-day SMA Momentum indicators are tilted slightly to the bullish side EURJPY has been in a prolonged uptrend since the beginning of the year, posting a fresh 15-year peak of 159.75 on August 31. Since then, the price has been trading […]
US 500 index posts fresh 3-month low in today’s session Bears eye the ascending 200-day SMA Momentum indicators suggest that the recent decline could be overstretched The US 500 stock index (cash) has been experiencing a strong pullback following its rejection near the 50-day simple moving average (SMA) in mid-September. However, the aggressive selloff could be over soon as the momentum indicators […]
USDJPY continues to trade in an uptrend mode, above all EMAs Looking ready to challenge the 148.85 resistance barrier Both the RSI and the MACD detect positive momentum USDJPY is trading higher today, getting closer to the 148.85 zone, marked by the highs of October 31 and November 1. Overall, the pair remains in an uptrend […]
Mood sours amid hawkish Fed, recession fears and US shutdown risk Stocks mixed after last week’s losses as bond yields near cycle highs Dollar holds firm as yen under pressure after dovish Ueda Subdued sentiment as uncertainties weigh Trading got off to a mixed start on Monday as equities and the US dollar were lacking […]
Key data releases scheduled with the market counting down to the next RBA meeting The RBA is feeling relieved after the decision to pause by the Fed August CPI (01:30 GMT) could provide some breathing space to the aussie RBA was first on the scene The RBA kicked off the busy central banks’ season by […]
EURUSD in a clear downtrend, posting a fresh 5-month bottom of 1.0614 The descending 50-day SMA is approaching 200-day SMA, setting the stage for a death cross Momentum indicators are heavily skewed to the bearish side EURUSD has been in a steady decline after peaking at the 18-month high of 1.1275 on July 18, generating a […]
