Technical outlook:
Trend: The pair remains locked in a downward channel since late April, with price respecting both the upper and lower boundaries. This confirms a well-defined bearish structure.
Resistance: The upper channel line and the 50-day SMA (18.75) converge as a strong cap. Above that, the 19.07–19.49 zone is the next resistance cluster.
Support:...
EUR/USD Technical outlook:
Resistance: Price is capped by a descending trendline from the July highs, aligning near the 78.6% Fibonacci retracement around 1.1745, which is the key ceiling to watch.
Support: The horizontal structure at 1.1580 is repeatedly tested but holding firm, making it a crucial pivot. Below this, the 50-day SMA (1.1656) has also been acting...
Small caps have surged higher in recent days as investors warm towards companies most exposed to the domestic US economy, in part thanks to rising expectations for interest rate cuts.
The Russell is also showing clean price action from a bullish point of view: breaking key levels and defending them. Once such level was around 2325 which it took out on Friday in...
Oil is bearish below 70.00; it trades below its falling trendline, 200, 50, and 20 SMA.
The price recently recovered from the 61.50 low but ran into resistance at 64.50, the 20 SMA.
Sellers will look to take out support at 61.50 and 60.00 to extend losses towards 55.50, the 2025 low.
Should bulls break above the 20 SMA and 65.00 round number, this opens the door...
EUR/USD has steadied after falling 0.8% in the previous session, finding support above 1.16.
EUR/USD longer-term uptrend remains intact for now. The price ran into resistance at 1.1830 and has been pulling back, but continues to find support from the 20 SMA around 1.16. The RSI is neutral.
Should the 20 SMA continue to hold, buyers will look to rise above 1.1650,...
Having broken uptrend support and with momentum indicators swinging quickly towards bearish territory, the ducks look to be lining up for downside in EUR/AUD. That’s even before you consider strengthening fundamental headwinds posed by potential U.S. sanctions on select E.U. nations and increasing reflationary signals from the Chinese economy, which would normally...
USD/JPY attempts to retrace the decline from last week as it rebounds ahead of the monthly low (146.22), and the exchange rate may track the positive slope in the 50-Day SMA (146.87) if it continues to close above the moving average.
A move/close above 148.70 (38.2% Fibonacci retracement) may push USD/JPY toward 150.30 (61.8% Fibonacci extension), with a breach...
AUD/JPY seems to be reversing ahead of the July low (93.97) as it starts to carve a series of higher highs and lows, and a breach of the monthly high (97.07) may lead to a test of the July high (97.43).
A move/close above the 97.90 (23.6% Fibonacci extension) to 98.30 (38.2% Fibonacci retracement) area opens up the January high (99.17), but lack of momentum to...
On the Nasdaq front, all eyes are on NVIDIA’s Q2 earnings, with expectations for revenue around 45.9B and EPS between 1.00–1.01. While enthusiasm around AI continues to drive tech optimism, concerns remain over tariff risks with China, particularly regarding potential backdoors or tracking technologies in NVIDIA chips. These risks could limit revenue potential...
DXY weakness appears to have priced in a September rate cut, with the 96 support level still technically significant. It aligns with a 17-year trendline, placing attention on whether the dollar can stage a rebound within its dominant bearish structure. Meanwhile, EURUSD remains capped below the 1.18 resistance, which would need to break to open the path toward...
Whether you call it a bull pennant or an ascending triangle, it’s hard to ignore the coiling in gold beneath the April record highs, keeping traders on alert for a potential bullish breakout.
The latest bounce off uptrend support, fuelled by Jerome Powell’s dovish pivot at Jackson Hole, has gold within reach of downtrend resistance from those highs, sitting near...
EUR/CAD rallies to a fresh yearly high (1.6226) as it breaks out of the range bound price action from earlier this week, with the rise in the exchange rate pushing the Relative Strength Index (RSI) toward overbought territory.
A close above 1.6220 (50% Fibonacci extension) may push EUR/CAD toward the June 2009 high (1.6326), and a move above 70 in the RSI is...
The euro has come under mild pressure in recent days, weighed down by the dollar’s rebound and the lack of progress on Ukraine. Today’s spotlight is firmly on Powell. If he manages to steer market expectations back toward a coin-flip for a September rate cut, EUR/USD could slip towards the 1.1500 support zone — a key level that i think is unlikely to give way in...
NZD/USD extends the selloff from earlier this week to register a fresh monthly low (0.5800), with the weakness in the exchange rate pushing the Relative Strength Index (RSI) toward oversold territory.
Lack of momentum to hold above the 0.5740 (78.6% Fibonacci retracement) to 0.5760 (100% Fibonacci extension) region may push NZD/USD toward 0.5700 (23.6% Fibonacci...
Having cleared resistance at 1.3900 on Thursday, a bullish setup has presented itself in USD/CAD ahead of Jerome Powell’s speech at Jackson Hole.
Longs could be established above the level with a stop beneath for protection, targeting the 200-day moving average found today at 1.40336. The price has already backtested and bounced off 1.3900 in Asian trade,...
Over the past three trading sessions, Nvidia’s shares have posted a sharp decline, accumulating losses of more than 3% in the short term. For now, the emerging selling bias around the stock remains in place, as the market fears a potential overheating of the artificial intelligence industry. Added to this is the anticipation of the company’s results on August 27,...
USD/CHF seems to be defending the rebound from the monthly low (0.8022) as it retraces the decline from earlier this week, and lack of momentum to close below the 0.8030 (38.2% Fibonacci extension) to 0.8080 (23.6% Fibonacci retracement) zone may lead to a test of the monthly high (0.8172).
Need a move/close above 0.8200 (23.6% Fibonacci extension) to bring the...
AUD/USD bounces back from a fresh monthly low (94.04) to halt the recent series of lower highs and lows, and a close above the 95.10 (38.2% Fibonacci extension) to 95.20 (23.6% Fibonacci extension) region may push the exchange rate back toward the monthly high (97.07).
A breach of the July high (97.43) opens up the 97.90 (23.6% Fibonacci extension) to 98.30...
