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...
The Dow has opened lower, but with all eyes on the Fed's Powell tomorrow the weakness can be explained away in part by profit-taking. Whether this turns into something more signifcant remains to be seen.
For now, the bullish trend is intact. The 45,000 level has been tested multiple times since November 2024, and this level has held as resistance every single...
XAUUSD has been in a 5-month consolidation phase since hitting its record high at $3,500. The current price action is respecting the lower edge of the range above $3,300, and testing resistance levels drawn from a Fibonacci extension of the $3,268 low, $3,408 high, and $3,311 pullback.
• Resistance levels in focus: $3,350, $3,380, $3,400, and $3,450
• A confirmed...
EUR/USD is flat as it continues to test the 50 SMA support after the Eurozone Composite PMI hit a 15-month high and ahead of the Fed's Jackson Hole Symposium.
EUR/USD has formed a series of lower highs from its 1.1830 2025 peak. The price has recovered from the 1.14 August low but failed to retake 1.17 and is testing the 50 SMA support. The RSI is neutral.
Should...
The FTSE benefitted from the recent rotation out of tech into value stocks, of which the FTSE has plenty, and which are undervalued.
Technically, the FTSE has hit resistance, which could slow gains for now.
The FTSE broke out of a short-term consolidation pattern, breaking higher to fresh record highs around 9300, with the rising trendline resistance dating back...
The significant dovish shift from the RBNZ at its August meeting has left the Kiwi dollar on the backfoot, closing Wednesday beneath former support at .5850 and the key 200DMA. With Fed rate-cut pricing already so rich heading into Jackson Hole, only an explicit dovish shift from chair Jerome Powell may be enough to prevent a USD rally. As such, a short NZD/USD...
GBP/JPY falls to a fresh weekly low (197.86) following the failed attempts to push/close above the 199.80 (61.8% Fibonacci retracement) to 200.50 (78.6% Fibonacci extension) zone.
Failure to hold above the 195.70 (61.8% Fibonacci extension) to 196.60 (23.6% Fibonacci extension) region may lead to a test of the monthly low (195.04), with the next area of interest...
NZD/USD clears the May low (0.5847) as it tumbles to a fresh monthly low (0.5815), and a close below 0.5830 (38.2% Fibonacci retracement) may push the exchange rate toward the 0.5740 (78.6% Fibonacci retracement) to 0.5760 (100% Fibonacci extension) region.
A move/close below 0.5700 (23.6% Fibonacci retracement) opens up the yearly low (0.5486), but NZD/USD may...
On the daily chart, Nasdaq’s RSI has pulled back to the 50 neutral zone, providing potential support for the recent correction. Price action is holding above the 23,200-support, while the 4-hour RSI is rebounding from oversold conditions.
If 23,200 continues to hold, Nasdaq may recover to test 23,500, 23,700, and potentially 24,100. A confirmed move above these...
FTSE 100 (+0.5%) hits a new record high above 9230, boosted by consumer staples. The UK index reversed earlier losses after hotter UK CPI data saw traders trim bets over further BoE rate cuts. Despite that, bond yields have fallen, and the pound has come off earlier highs.
The trend for the FTSE 100 remains bullish obviously with the index at records. Stating...
USDCAD is in a bullish breakout mode, holding firmly above 1.37 and breaking out from a one-month consolidation range. It is now testing the 1.3880 resistance. A clean hold above this level could confirm a breakout toward the 1.40 target — the projected completion of the current pattern.
The 3-day RSI is trending above the neutral 50 level, reinforcing dollar...
Gold has now extended its four-session losing streak, with prices dropping more than 1.5% in the short term. So far, bearish pressure remains active, as gold has lost some of its appeal as a safe-haven asset, mainly due to easing global geopolitical tensions and growing expectations that central banks may begin considering rate cuts. These developments have...
Silver finds itself resting on the key 50DMA, a level traders have used as a launchpad for bullish moves on the last two occasions of testing. However, with unconvincing price action and momentum indicators turning neutral, it may be a case of third time lucky for bears on this occasion.
Silver has already broken beneath the February 2012 high of $37.46, which...
As we move towards the Jackson Hole Economic Symposium later this week USD/CAD has set up as one of the cleaner pairs for USD-strength, and that's been a building backdrop for much of the past month and a half.
Even as USD set a fresh three-year low on day one of Q3, USD/CAD held a higher-low, forming a bullish trendline. That trendline was in-play a couple...
AUD/USD gives back the advance from the start of the week to approach the monthly low (94.91), and a move/close below the 95.10 (38.2% Fibonacci extension) to 95.20 (23.6% Fibonacci extension) region may lead to a test of the July low (93.97).
Next area of interest comes in around 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension), but the...
With copper prices easing over the last few days, it has now reached a key short-term support area in the shaded region. Here a bullish trend line meets prior support/resistance range. Can we see a bounce here today? Or are we inside a bear flag pattern? Either way, we will soon find out, and then one can trade copper accordingly. We prefer the long side give a...
Canada publishes its July inflation numbers shortly. The market’s looking for 0.3% MoM on the headline CPI. Median measure of CPI is expected to hold around 3.1% y/y with trimmed CPI seen steady at 3.0%.
Numbers lower than those would likely support the idea that the Bank of Canada will resume cutting before long, especially because growth risks are piling up....
