Eurozone appears to be on the mend but ECB still on track to cut in June For the euro, rate outlook beyond June increasingly more important Flash PMI readings for April are due on Tuesday, 08:00 GMT Will PMIs confirm tepid recovery signs? The euro area economy stagnated in the middle of 2023 but narrowly […]
NZDUSD creates lower lows in medium-term Stochastics indicate oversold market NZDUSD is recovering somewhat after it posted a new five-month low of 0.5850. The market is still in a strong descending tendency with the technical oscillators showing some mixed signs. The RSI is pointing slightly down beneath the 50 level, while the stochastic posted a […]
Gold, franc, yen and oil spike higher after Israel strikes Iran But gains are pared after retaliatory response seen to be limited Stocks head deeper into the red after disappointing tech earnings Markets on alert as ME tensions re-escalate After days of speculation about a possible retaliatory action, Israel launched strikes on Iranian targets overnight, […]
USDCAD pauses aggressive bull run near five-month high Faces resistance around 1.3800, but remains supported above 1.3690 USDCAD attempted to re-enter the 1.3800 territory earlier today after its pullback from a five-month high of 1.3844 on Wednesday. But upside forces faded soon, forcing the price to pull back to Thursday’s closing price of 1.3765. […]
Dollar goes on a rampage as traders unwind Fed rate cut bets Risk aversion in stock markets amid Iran tensions helps too Upcoming US releases will decide whether rally can go further Dollar shines bright It’s been a phenomenal year for the US dollar so far. The greenback has gained more than 4% against […]
USDCHF starts the day in red RSI and MACD indicate negative retracement USDCHF experienced an aggressive selling interest earlier in the day, but quickly turned higher to approach the 0.9095 barricade. The pair is moving sideways in the very short-term after the rest near the six-month high of 0.9150, while in the bigger outlook, the picture is strongly positive. According to the technical oscillators, the MACD is […]
To support the ‘Bookcases for Kids’ project, we’ve donated books to 10 primary and secondary schools in Ky Son district in Nghe An province, which educate children from underprivileged highland areas. These books filled 10 classroom bookcases, encouraging students to read and facilitating daily reading sessions with teachers. Reading isn’t just about acquiring knowledge; it […]
US GDP, core PCE and PMIs the next tests for the dollar Investors await BoJ for guidance about next rate hike EU and UK PMIs, as well as Australian CPIs also on tap Earnings season heats up as tech giants report Will US data throw more Fed rate cuts off the table? The dollar staged […]
GBPJPY is in the red today, not far from its recent high It continues to hover inside a rectangle structure Momentum indicators are in waiting mode for the next key events GBPJPY is trading lower today as the market is digesting the latest developments in the Middle East and the lower Japanese inflation prints, and […]
Bitcoin drops to its lowest in six weeks, a tad below $60,000 Geopolitical tensions and slower rate cuts weigh on cryptos Focus shifts on halving event expected between April 19 and 20 Bitcoin dips as market turn risk-off This has been a harsh week for Bitcoin, which has not yet been able to find […]
Netflix stock continues to consolidate as Q1 earnings awaited Strong support seen at 50-day SMA Netflix stock has been consolidating for much of April after prices reached a more than two-year high of 636.82 at the start of the month. The downward drift has pushed the stock below its 20-day simple moving average (SMA), […]
GBPUSD rebounds off 1.2405 Price remains beneath trading range Bearish in the short-term view GBPUSD is rising after the pullback near the 1.2400 level but remains in a short-term bearish tendency. The technical oscillators are showing some mixed signs. The MACD is extending its negative momentum beneath its trigger and zero lines; however, the stochastic […]
BTCUSD falls temporarily below 60,000 ahead of halving Momentum indicators point to intensifying downside pressures BTCUSD (Bitcoin) experienced a strong pullback following the formation of a triple top pattern, sliding below its 50-day simple moving average (SMA). Meanwhile, the price dropped to a fresh six-week low a tad beneath the 60,000 psychological mark, just a couple of days ahead of […]
EURUSD rebounds off 5-month low near 1.0600; remains beneath symmetrical triangle US 500 index plummets to 2-month low, creating bearish correction WTI crude oil dives for the sixth consecutive day Related Posts:Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024 AUDJPY prints higher highs and higher lows above uptrend line…Technical […]
AUDJPY prints higher highs and higher lows above uptrend line MACD and RSI detect positive momentum A break above 100.80 will confirm a higher high For the outlook to change, a break below 95.80 may be needed AUDJPY pulled back lately, after it hit resistance at around 100.80 on April 9. However, the pair remains above […]
WTI oil futures complete bearish triangle pattern after Wednesday’s drop Bullish pressures could still resurface as long as the price holds above 81.50 WTI oil futures tumbled by 2.8% to 82.84 on Wednesday, experiencing one of their biggest daily losses so far this year after a short-period of consolidation. The price slid below the […]
Euro edges higher despite continued hawkish commentary from Fed officials Geopolitical developments cast doubt on ECB June rate cut Yen fails to make considerable gains as market looks to Friday’s CPI data Dollar is on the back foot today Euro/dollar is rising today after testing the 1.06 level. The combination of dovish commentary from the […]
GBPCAD keeps knocking on 1.7238 door But bulls unable to break through it yet Momentum stays positive for now GBPCAD has been trying to get past the tough wall around 1.7238 for more than a week now, but each time it has been knocked back. However, after dipping below its 50- and 20-day simple […]
EURUSD tumbles and breaks out of sideways range Despite the brief pause, the outlook remains negative MACD and RSI detect negative momentum A break below 1.0610 could target 1.0520 EURUSD came under strong selling interest last week following the hotter-than-expected US CPI data, breaking below 1.0725, the lower bound of a sideways range that was […]
Market is still in monetary easing mode despite fewer rate cuts priced in across the board Divergent cut expectations for the Fed and the ECB, reflecting economic conditions The ECB and the BoC are seen cutting in July; the RBA might not cut rates this year BoJ is seen hiking again during 2024 The market […]
EURGBP tests uptrend line as it resumes slide Risks are tilted to the downside But pennant pattern suggests more consolidation EURGBP has been drifting lower after its latest attempt to break above the medium-term descending trendline failed, peaking at 0.8585. The price briefly touched the short-term uptrend line just below 0.8520 earlier today before […]
Tesla reports earnings on April 23 after market close Weak delivery data set the ground for downbeat financials Valuation is overstretched despite a 35% YTD stock decline Devastating start to the year Tesla has been steadily among the ten worst performing stocks of the S&P 500 in 2024 as investors have been raising concerns […]
Gold finds support at mid-level of Bollinger band Technical oscillators remain in positive territory Gold prices are finding strong obstacles to surpass the 2,400 resistance level despite the spike towards the record peak of 2,431.48 in the preceding week. The price is still standing at the upper half boundary of the Bollinger band and the […]
Stocks remain under pressure as Fedspeak and US data dent rate cuts chances Dollar remains dominant against both the euro and the yen UK inflation surprises on the upside; the pound tries to rally A plethora of Fed, ECB and BoE speakers to keep the market on its toes today Stocks remain under pressure across […]
Overbought signals persist as USDJPY approaches the 155.00 level Bullish trend expected to hold strong above 151.00 After an explosive bullish session on Monday, USDJPY is now a short distance below the 155.00 psychological level, recording its sixth consecutive week of gains and reaching its highest level since May 1990. The RSI and the stochastic oscillator […]
NZDUSD posts some gains after negative days Immediate resistance at 0.5940 Stochastics and RSI tick higher NZDUSD rebounded off the five-month low of 0.5858 after three straight negative days with the technical oscillators confirming that an upside recovery may be on the cards. The RSI is pointing north near the 30 level, while the stochastic posted a bullish crossover […]
USDCAD rises rapidly; reverses November-December downtrend Risk of profit-taking increases as a familiar resistance area comes into sight Fed and BoC governors scheduled to speak at 17:15 GMT USDCAD sped up to unlock a new five-month high of 1.3820 on Tuesday despite the release of stronger-than-expected Canadian CPI data. Having enjoyed their best weekly […]
EURCHF remains beneath uptrend line MACD and RSI momentum weakens EURCHF is recovering some losses after the bearish gap that opened on Monday, remaining beneath the steep rising trend line. The pair may be ready for a bearish correction, mirrored by the technical oscillators. The RSI is flattening beneath the neutral threshold of 50, while the MACD is […]
JP 225 index pulls back from its all-time high Drops below 50-day SMA to face March support Momentum indicators are skewed to the downside The JP 225 index (cash) has been experiencing a downside correction after posting a fresh all-time high of 41,147 on March 21. In the near term, the price has declined beneath its 50-day simple moving average (SMA), […]
Surging US retail sales dampen Fed rate cut expectations Wall Street sinks, dollar scales fresh highs as yields jump China GDP beat offers only tepid support as March data disappoints Yen continues to tumble, risk of intervention grows The problem with a hot economy As markets awaited Israel’s response to Iran’s missile and drone assault […]
