Following a sharp rebound from the $55 low—mirroring broader market strength and gains in U.S. indices—oil is now hovering near a key resistance level at $64. Meanwhile, major U.S. indices remain below their respective resistance zones, awaiting confirmation of further uptrends.
A sustained break and hold above $64 could open the door for additional upside toward...
Following softer Canadian CPI data, the Bank of Canada held interest rates steady at 2.75%, sending USDCAD toward the 1.3820 support level — an area that aligns with the November 2024 lows and a key resistance zone extending back to the highs of September 2022.
The 1.3820 low aligns with the 0.272 Fibonacci retracement of the uptrend from May 2021 to January...
Crude oil prices were already on the ascendency but have just hit fresh highs on the day after the latest Trump remarks:
WILL MAKE GOOD DEAL WITH CHINA
WE WILL HAVE A DEAL WITH CHINA
But...
*TRUMP SAYS HE'S IN 'NO RUSH' TO CLOSE DEALS
Anyway WTI has risen to session highs, now testing a major resistance area around $65 give or take $1. The area is shaded on...
There's a quote from legendary investor John Templeton that goes like this:
"The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell."
This is contrarian, of course, but there's also a lot to it if we try to unwrap it. But first I want to start off even broader than that. I try to often remind myself of...
Weekly charts can be helpful for tracking the motion of the ocean, or larger dominant trends. And so far in 2025, that trend has been quite bearish for the US Dollar and this showed up even with the Greenback coming into 2025 with a full head of steam.
But last week something that's somewhat rare showed up - as weekly RSI on DXY went into oversold territory for...
It took awhile for Cable to finally mount a rally above the 1.3000 handle. That price was resistance multiple times in March, but it wasn't until the next month that prices were able to finally sustain a push above the big figure. It wasn't exactly a clean trend, especially considering the sell-off on April 4th, which broke through a number of supports; but the...
EUR/USD had pushed six consecutive days of losses after recoiling from Fiboancci resistance late last month. The 1.0943 level held two different resistance tests, with prices pulling back after the FOMC meeting saw Jerome Powell take a wait-and-see approach with regards to both inflation and possible rate cuts.
Normally, a backdrop like that would allow for a...
The upside risk we flagged earlier this week has now materialised for silver, with the spot price staging a bullish break above the 50-day moving average, resistance at $32.73, and the December 2024 uptrend on Wednesday.
Having closed above this former resistance zone, it may now provide a base for fresh longs targeting a retest of the March 28 swing high at...
The GBP/JPY is testing a critical resistance area between 189.20 to 190.00. For as long as this area holds as resistance, the path of least resistance remains to the downside.
Should the selling resume from here, we could see the Guppy trade down to test the key support range between 185.00 to 186.00 again.
However, if the GBP/JPY breaks decisively above the...
Downside risks appear to be growing for bitcoin with Tuesday’s shooting star candle triggering a bearish break of the rising wedge it had been sitting in over the past week.
Shorts could be established on the break with a stop above Tuesday’s high for protection. Some may opt for the 200DMA as a trade target, but the preference would be to look for a return to...
Citigroup’s stock has gained over 2% in the last trading session, as its latest earnings results have supported a moderately bullish bias on the current price chart. The company reported earnings per share (EPS) of $1.96, beating the expected $1.85, while revenue reached $21.6 billion, exceeding the forecast of $21.29 billion. These positive figures triggered a...
In another sign of recovery, Bitcoin is trying to break away from a key short-term resistance trend line that has been in place since the cryptocurrency topped out in January this year at above $109K.
BTC/USD has already reclaimed a few short-term levels such as FWB:83K and moved above the 21-day exponential moving average to provide the first objective bullish...
AUD/JPY attempts to retrace the decline from earlier this month after testing the 2023 low (86.06), and break/close above the 91.50 (61.8% Fibonacci retracement) to 91.70 (38.2% Fibonacci extension) region may push the exchange rate towards the 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension) zone.
Next area of interest comes in around 95.10...
The EUR/USD has gained more than 4% over the past three trading sessions, with bullish momentum remaining strong, as markets fear that a continued escalation in the trade war may keep heavy selling pressure on the U.S. dollar. With tariff-related uncertainty persisting, the euro continues to attract capital fleeing the dollar in search of a temporary safe...
USD/MXN is under pressure following the failed attempt to test the yearly high (21.2943).
USD/MXN snaps the range bound price action from last week, and a move/close below the 19.8990 (38.2% Fibonacci retracement) to 20.0120 (38.2% Fibonacci extension) zone may lead to a test of the monthly low (19.8362).
Next area of interest comes in around the November low...
After plunging to test key support around 30,400, the Japan 225 index is staging a strong recovery, up nearly 2% on the day. However, the technical picture still leans cautious:
🔻 Price remains well below the 50- and 200-day SMAs
📉 MACD remains in bearish territory, though downside momentum is slowing
📊 RSI has bounced off oversold levels, now at 43.17
This...
The U.S. dollar just plunged through the 0.8400 handle, cratering to fresh multi-month lows near 0.8145 against the Swiss franc.
📉 Price is decisively below both the 50- and 200-day SMAs
📊 MACD shows deepening downside momentum, well below zero
📉 RSI is in oversold territory at 18.79, highlighting stretched bearish sentiment
While the RSI suggests a short-term...
The British pound surged through the 78.6% Fib retracement near 1.3149, extending its post-breakout rally with a +0.77% daily gain. Price is now on track to test the September swing high at 1.3440 — the next major resistance zone.
📈 Price has reclaimed both the 50- and 200-day SMAs
📊 MACD is showing bullish momentum above the zero line
📍 RSI sits at 64.98 —...
