The FTSE ran into resistance at 9360, its record high, before rebounding lower to 9100. The price has recovered from this low and it is grinding higher, guided by the rising trendline and the 20 SMA, but the RSI points to slowing momentum, warranting caution.
Should momentum pick up, buyers will look to extend gains towards 9360 and fresh record highs.
Minor...
Oil trades within a descending channel dating back to 2023. The price also trades below its 20, 50, and 200 SMA in a bearish trend. Oil faced rejection at the 50 SMA and rebounded lower before finding support at 61.50, the August low. The price has recovered higher and is testing the 20 SMA resistance and the mid-point of the descending channel.
Buyers will need...
The US dollar weakened further on the back of the unexpected drop in producer prices inflation, which has now raised the bar even higher for CPI to beat expectations tomorrow. This caused the AUD/USD to break to a new high for the year. The Aussie could now start to rise more noticeably after months of underperformance relative to the euro and pound, for...
Given its solid track record for delivering reliable topping signals recently, the reversal in NZD/USD following a false break above a known resistance level is difficult to ignore.
Whether it’s a shooting star or the second candle in an evening star pattern, both suggest the risk of further unwind in the near term for the Kiwi, creating a bearish setup ahead of...
The GBP/USD faces a pivotal week and ahead of it, the pair continues to break important short-term technical levels. Last week it climbed back above 1.3500, buoyed by a weak US jobs report that reinforced expectations of a September Fed rate cut. Now it has broken its short-term bearish trend and the next resistance at 1.3550. A breakout above 1.3600 now looks...
The bullish move in U.S. ultra-long bond futures anticipated last week has played out nicely, with the contract surging higher over the subsequent days, taking out a key topside hurdle comprising the 200DMA and horizontal resistance at 119’19. The move has now stalled at a downtrend from the highs set in September last year, a period when the Fed went full-bore...
Over the last three trading sessions, BTC has shown a variation of just under 2% — a relatively modest move compared to the cryptocurrency’s usual volatility. This reflects that confidence in the crypto market remains in neutral territory in the short term. Investors are focused on upcoming U.S. inflation data, which could directly influence the Federal Reserve’s...
It's been a quarter of digestion so far for EUR/USD after the pair set a fresh multi-year high on day one of Q3, and then proceeded to pullback for much of July. While August brought a bounce back, bulls didn't seem so certain as lower-highs held in along with the pair respecting the 1.1748 Fibonacci level. As looked at last week, there was the build of two...
Gold is breaking uptrend resistance today with price stretching to fresh record highs. An embedded channel highlights the next technical hurdle at the 300% extension of the 2011 decline at 3666- risk for topside exhaustion / price inflection into this threshold IF reached.
Initial support now rests back at 3600 with near-term bullish invalidation raised to 3578-...
EUR/USD is rising above 1.17, breaking above the 50 SMA and the falling trendline resistance. A close above 1.17 opens the door to 1.18 and 1.1830, the 2025 high.
Support is at 1.17, with a break below here opening the door to 1.1580, the mid-August low. A break below here exposes the rising trendline resistance at 1.1540 ahead of the 1.14 August low.
FC
The EUR/USD chart looks like it is about to stage a bullish breakout, despite the political situation in France where the government looks like it is about to collapse. The pair has been consolidating inside a triangle pattern for several days now, holding its overall bullish structure. Following a negative dollar reaction to the NFP data on Friday, that may...
Traders should be on alert for a potential bullish breakout in CHF/JPY.
Sitting in an established uptrend with moving averages and momentum indicators also favouring upside, resistance at 186.00 may soon come under threat. One look at the longer-term CHF/JPY chart shows that when a breakout occurs, it can extend significantly.
If the price can break and close...
The lengthy consolidation on the DAX means the German index is no longer technically overbought on the weekly and lower time frames. The monthly is still above 70.0 but with other global indices looking strong, the DAX could be about to break higher again.
For confirmation i would like to see a break above the bearish trend line and ideally a move above the next...
The Dow was trading flat ahead of the release of the NFP data. A goldilocks report - one that is not too weak or too strong - is the best outcome for stocks as this will cement expectations for a September rate cut. A significantly weaker report will raise recession worries while a very strong number could weigh on rate cut bets, and pressure risk assets at least...
U.S. 30-year Treasury futures have delivered a definitive bullish signal, casting doubt on the anxiety being expressed by some market participants about the relatively rapid steepening of sovereign bond curves.
Wednesday delivered a bullish key reversal candle on the daily timeframe, followed by further buying on Thursday that saw the price move back to minor...
Despite the continued drumbeat for rate cuts in the US with markets now pricing in the possibility of three 25 bp cuts for this year and another three 25 bp cuts for next year, the US Dollar sure hasn't fallen much over the past few weeks.
The month of July saw the USD finish the month as the strongest monthly outing in three years, but the NFP report the...
The recent rally in AUD/JPY seems to have stalled ahead of the July high (97.43) as it no longer carves a series of higher highs and lows, and failure to hold above the weekly low (96.06) may push the exchange rate toward the 95.10 (38.2% Fibonacci extension) to 95.20 (23.6% Fibonacci extension) region.
A breach of the August low (94.40) brings the July low...
EUR/USD is consolidating around 1.1650. After another failed attempt to retake the 1.17 level, the pair is hovering on the 50 SMA, awaiting further cues. The RSI is neutral.
Buyers need to break out above 1.17, the round number and falling trendline resistance to create a higher high and bring 1.1830, the 2025 high, into focus.
Support is at 1.1580, last week’s...
