After the NFP-fueled sell-off in the US Dollar the USD/JPY pair has been largely range-bound. This highlights a coiling backdrop as we move towards the Jackson Hole Economic symposium and given the bigger-picture macro interest that remains behind the carry trade and the possible unwind of such, the pair will probably remain sensitive to themes in the US Dollar....
EUR/USD had a strong start to August as US rate cut bets were getting priced-in, but so far the pair hasn't been able to do much beyond the resistance zone from 1.1686-1.1748. As we move into Jackson Hole later this week with what will likely be Powell's final symposium atop the FOMC, the question remains as to whether he'll finally open the door for September...
AUD/JPY rebounds ahead of the monthly low (94.91) to snap the series of lower highs and lows from last week.
In turn, AUD/JPY may attempt to test the monthly high (97.07), with a breach of the July high (97.43) opening up bringing the 97.90 (23.6% Fibonacci extension) to 98.30 (38.2% Fibonacci retracement) zone on the radar.
Next area of interest comes around...
Friday’s meeting in Alaska set the stage for a potential shift in U.S.–Russia relations. Putin’s terms, discussed privately, are expected to be presented today in Washington during talks between Trump, Zelensky, and EU allies toward a possible ceasefire.
WTI’s latest drop is currently holding at the 0.618 Fibonacci retracement of the May–June uptrend, and...
After reaching a new record at the 125,000 resistance, BTCUSD pulled back in line with market risk appetite toward the 115,000 zone, now eyeing key support levels between 110,000 and 104,000 respectively.
The mentioned support zone aligns with the trendline connecting higher lows from September 2023, marking a technically significant area. Should it be breached...
Bitcoin’s key bearish reversal candle last Thursday, following fresh record highs, was met with further selling on Friday, taking the price back to test uptrend support running from the April lows. What happens in the coming days may provide clues on directional risks for bitcoin over the medium to longer term.
A clean break of the uptrend would put support at...
EUR/CAD clears the 2018 high (1.6153) as it climbs to a fresh yearly high (1.6177), with the rise in the exchange rate pushing the Relative Strength Index (RSI) toward overbought territory.
A move above 70 in the RSI is likely to be accompanied by a further advance in EUR/CAD like the price action from earlier this year, with a move/close above 1.6220 (50%...
The recent rally in GBP/JPY seems to be unraveling as the exchange rate struggles to push/close above the 199.80 (61.8% Fibonacci retracement) to 200.50 (78.6% Fibonacci extension) zone.
In turn, failure to defend the weekly low (198.18) may push GBP/JPY back toward the 195.70 (61.8% Fibonacci extension) to 196.60 (23.6% Fibonacci extension) region, with a breach...
Sitting in an ascending triangle and having just printed a bullish engulfing candle on the daily chart, upside may be beckoning for AUD/NZD.
We’ve seen multiple failed attempts to overcome resistance at 1.0980, so a close above the level—or at least a meaningful break above the August 16 high—would be preferable before considering a bullish setup.
If that...
USD/CHF recovers from a fresh monthly low (0.8022) after failing to close below the 0.8030 (38.2% Fibonacci extension) to 0.8080 (23.6% Fibonacci retracement) zone, and a move above the monthly high (0.8172) may push the exchange rate toward 0.8200 (23.6% Fibonacci extension).
Next area of interest comes in around the June high (0.8250), with a move/close above...
EUR/CAD struggles to test the 2018 high (1.6153) as it gives back the rally from earlier this week, and a move/close below 1.6050 (38.2% Fibonacci extension) may push the exchange rate toward 1.5950 (100% Fibonacci extension).
A breach of the July low (1.5768) may lead to a test of the June low (1.5574), but EUR/CAD may reestablish the bullish trend from earlier...
45000 and Dow Jones bulls have not been the best of friends over the past year, with the index repeatedly rejected at the level going back to November after the Presidential election. But that hasn’t been enough to deter the bulls from having another crack, with the price back knocking on the door again following the latest rally.
RSI (14) is trending higher but...
The recent rebound in AUD/JPY seems to be stalling ahead of the monthly high (97.07) as it no longer carves a series of higher highs and lows, and failure to hold above the weekly low (96.00) may push the exchange rate toward the monthly low (94.91).
A close below the 95.10 (38.2% Fibonacci extension) to 95.20 (23.6% Fibonacci extension) region brings the July...
NZD/USD retraces the decline from the start of the week to register a fresh monthly high (0.5996), and a move/close above the 0.6040 (61.8% Fibonacci retracement) to 0.6070 (61.8% Fibonacci extension) zone may lead to a test of the July high (0.6120).
Next area of interest comes in around 0.6170 (50% Fibonacci extension) to 0.6190 (78.6% Fibonacci retracement)...
GBP/JPY climbs to a fresh yearly high (200.29) as it stages a seven-day rally, with a move/close above the 199.80 (61.8% Fibonacci retracement) to 200.50 (78.6% Fibonacci extension) zone raising the scope for a move toward 201.20 (23.6% Fibonacci retracement).
Next area of interest comes in around 202.00 (23.6% Fibonacci extension), but GBP/JPY may struggle to...
EUR/USD bears haven't been able to re-take control since the jarring pullback after the August 1st NFP report. But, that said, there may be more attractive areas to look for that USD-weakness to continue, such as GBP/USD.
While Trump is pushing hard for rate cuts in the U.S. and markets are highly expecting that in September with at least one and perhaps two...
The US Dollar has had the kitchen sink thrown at it so far in August.
It was just a month ago after the DXY breakout following the CPI report that President Trump threatened to fire Jerome Powell. This brought a sell-off in the Dollar but, importantly, buyers showed up to hold a higher-low in the currency, above the low from the first day of Q3 trade.
The...
It's been a trend of weakness so far in August for the US Dollar. But, to date, DXY hasn't yet broken down to a fresh lower-low even with the kitchen sink being thrown at it.
Perhaps one reason is one of the more important components of DXY, the Japanese Yen, has remained relatively weak on its own. EUR/JPY has shown a clean bullish trend following a re-load at...
