China’s A50 index appears to be on a collision course with the swing high set in December last year, motoring higher like so many other Chinese indices. If we see a clean break of the level, there’s very little technically standing in the way of a potential move back towards the blow-off highs set in October 2024.
14,409 is the level in question, with the current...
EUR/JPY seems to be bouncing back ahead of the monthly low (169.82) as it holds above the 170.70 (161.8% Fibonacci extension) to 170.90 (78.6% Fibonacci retracement) region, with a breach of the monthly high (173.02) bringing the July high (173.90) on the radar.
Next area of interest comes in around the 2024 high (175.43), but lack of momentum to hold above the...
NZD/USD may face headwinds later this week as the Reserve Bank of New Zealand (RBNZ) is expected to implement a 25bp rate-cut, and failure to hold/close above the 0.5920 (61.8% Fibonacci extension) to 0.5930 (78.6% Fibonacci extension) region may lead to a test of the monthly low (0.5857).
A breach of the May low (0.5847) brings 0.5830 (38.2% Fibonacci...
USD/CHF seems to be coiling in a narrow range after slipping to a fresh monthly low (0.8022) during the previous week, but the exchange rate may attempt to retrace the decline from the start of August as it continues to close above the 0.8030 (38.2% Fibonacci extension) to 0.8080 (23.6% Fibonacci retracement) zone.
A breach of the monthly high (0.8172) may push...
GBP/JPY is now working on its fifth day of resistance at the 200.00 handle. This sets up a big test ahead of Jackson Hole as the pair retains a macro drive that has tie to US rate cut expectations. The major pairs of GBP/USD and USD/JPY similarly remain of interest, and I still favor GBP/USD for USD-weakness scenarios.
The recent ordeal around 200.00 illustrates...
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...
