Key Events This Week
• WTI drops to 62.60 ahead of major geopolitical and economic catalysts: Ukraine ceasefire, U.S.–China tariffs, OPEC report, and U.S. CPI
• Global tariff developments continue to shape sentiment and crude demand valuations, especially in relation to OPEC’s evolving supply strategy
WTI’s latest drop is currently holding at the 0.618 Fibonacci...
COMEX copper may have found a base, but whether the nascent recovery of recent weeks can continue faces a major hurdle at $4.50 resistance. With momentum indicators like RSI (14) and MACD still deeply negative, favouring a bearish bias, the contract remains a sell-on-rallies prospect until the price action suggests otherwise.
If the contract stays capped beneath...
Shortly after releasing earnings, Uber’s stock has continued to decline, posting a new drop of over 4% in the latest session, as selling pressure remains dominant in the short term. Although results were in line with expectations —with earnings per share at $0.63 and total revenue reaching $12.65 billion, compared to the expected $12.46 billion— investor sentiment...
Back in April the US Dollar was dropping like a rock. While the sell-off in stocks had stalled by the time we got to Easter, the bearish trend in USD was in full-force, going along with a strong breakout in Gold and many major FX pairs. But it was the low on Easter Monday that finally stalled matters for a bit. That price came in right around the 98.00 level, and...
EUR/USD has put in a fast reversal over the past week following the 1.1400 test ahead of the NFP report on Friday. But the true test of trend is what happens in the counter-trend backdrops, so the question now is whether EUR/USD bulls can push through a key area of resistance that's come back into play.
At 1.1686 is the 76.4% retracement of the 2021-2022 major...
GBP/USD has been an attractive pair for USD-weakness scenarios and that continued through this morning's Bank of England rate cut, which propelled the pair through resistance in an ascending triangle formation.
The challenge now is working with a move that's become quite stretched since the support test at 1.3145 last week. This isn't to say that it can't...
Recovery week so far in EUR/JPY. Last week saw price plunge down for a test of the 170 handle and that played right around the BoJ rate decision. The response to that, however, was clearly Yen-weakness as EUR/JPY jumped up to the 61.8% Fibonacci retracement of the prior sell-off.
More interesting, however, was how the pair was hammered around and just after the...
USD/MXN seems to be defending the rebound from the July low (18.5116) as it attempts to retrace the decline from earlier this week.
A breach above 18.7780 (50% Fibonacci retracement) may push USD/MXN toward the monthly high (18.9810), with a move/close above 19.3720 (38.2% Fibonacci retracement) opening up the June high (19.4441).
Next area of interest comes in...
After a decent rally earlier in the day, the major indices and futures started to ease off around mid-morning London trade, before easing further lower in the last couple of hours.
At the time of writing, the S&P was testing its session lows. Here it was probing support and a short-term bullish trend line in the 6319-6331 range. This area needs to hold to keep...
GBP/JPY climbs to a fresh weekly high (197.93) as it stages a three-day rally, and a close above the 195.70 (61.8% Fibonacci extension) to 196.60 (23.6% Fibonacci extension) region may lead to a test of the July high (199.98).
A breach above 201.20 (23.6% Fibonacci retracement) opens up 202.00 (23.6% Fibonacci extension), but GBP/JPY may struggle to extend the...
NZD/USD extends the rebound from the start of the month to register a fresh weekly high (0.5968), and a close above the 0.5920 (61.8% Fibonacci extension) to 0.5930 (78.6% Fibonacci extension) region may push the exchange rate toward the 0.6040 (61.8% Fibonacci retracement) to 0.6070 (61.8% Fibonacci extension) zone.
A breach of the July high (0.6120) opens up...
Nasdaq faces pressure as it trades below the trendline connecting the consecutive higher lows from April 2025. However, the latest decline rebounded from strong support at 22,700. Price action has reclaimed the 23,000 and 23,400 levels, suggesting a potential shift in tone.
A clean close above 23,500 is likely needed to push the index toward new highs above...
ASX 200 futures remain a buy-on-dips prospect, putting the contract on track to test the 9000 level soon.
Already sitting in an established uptrend, the latest leg higher coincided with a three-candle morning star pattern being completed on Tuesday, providing a bullish signal that goes some way to explaining the price taking out the former record high of 8751 a...
The 5% Apple rally aside, it is all about rate cut bets vs. strong earnings. So far, the latter has helped to keep US markets supported near all-time highs. But if macro concerns increase further, investors' perception about future earnings growth will weaken. And with that, we could see some cracks in expensive stocks.
Looking at the hourly chart of the SPX500,...
Gold’s price action is currently fluctuating above the trendline connecting higher lows from May 2025, potentially aiming for the trendline from December 2024, which aligns with the 2025 peak at 3,500.
A firm hold above the 3,400 and 3,450 levels could accelerate a move back toward the 3,500-record, with potential for further gains toward new highs at 3,780 and...
The GBPUSD chart setup is also currently positioned in a bearish structure. It continues to trade below the trendline connecting peaks from July 2023 to September 2024. Additionally, it recently broke below the neckline of a potential head and shoulders pattern, now testing the midpoint target at the 1.3140 support.
Should a decisive close occur below that level,...
In line with the DXY’s pullback below 98, the EURUSD jumped near the 1.16 resistance, the 50% Fibonacci retracement of the 3-legged correction from the 2025 peak, where it is facing another drop-down risk for another 3 legs down should the trend not confirm a clean close above 1.16. My scenarios are the following:
Bearish Scenario: a clean hold below 1.1450 can...
WTI crude oil has found plenty of willing buyers beneath $65 per barrel recently, often acting as a launchpad for abrupt squeezes higher. But with supply gushing as OPEC+ returns 2.2 million barrels per day to market at a time when concerns about the U.S. economy are growing, whether that continues remains debatable—especially after the sharp $5-plus slide over...
