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Ideas
GBP/USD: Trouble Brewing for Bulls?A revisit of the November lows may be on the cards for cable, coiling within what resembles a rising wedge following its lurch lower in October. Sitting on uptrend support and showing little inclination to bounce meaningfully in recent days, traders should be on alert for a potential downside break. If we see a bearish wedge break, shorts could be established beneath the level with a stop above for protection, targeting 1.3100 initially. Unless the move is definitive, a close beneath the uptrend would be preferable before entering the position. As a bearish continuation pattern, convention suggests we may see the starting point for the wedge revisited, putting 1.3010 on the radar as a level to assess whether to hold, add or reverse should the price return there. There’s evidence that downside strength is building again, with RSI (14) breaking its uptrend before reversing away from the neutral 50 level. MACD remains in negative territory but has yet to cross the signal line from above. If that occurs, it will increase conviction in the trade. Good luck! DS
Short
by FOREX.com
Nasdaq 100: Bulls on the Back Foot as 50DMA Gives WayOur Nasdaq 100 contract is looking heavy. Very heavy. The price action has been increasingly unconvincing for bulls in November, culminating on Monday with the price closing beneath the 50-day moving average for the first time since April. That’s a noticeable departure from what was seen when tested in the recent past, with the price often reversing higher immediately after. Not on this occasion. Should the price remain below the 50-day moving average, the next focal point is uptrend support that’s been in place for over six months. In each of the past two sessions the price has traded through the level only to reverse higher, attracting buyers on dips beneath 24650—that’s the battleground to watch in the near term. If the price were to close beneath uptrend support and 24650, it would bolster conviction that a deeper downside flush may be coming, allowing for shorts to be established with a stop above the uptrend to protect against reversal. 24000 provided support and resistance earlier this year, making it a potential initial target. Of course, should the price remain above the uptrend, the setup could be flipped with longs set above it or the 50DMA, should the price reclaim it. 25200, downtrend resistance from the record highs, or 25715 are all potential targets. Given the unconvincing price action recently, an obvious bullish reversal signal would be preferable before considering long setups. The message from RSI (14) and MACD is tilted lower when it comes to directional bias, with the former trending beneath 50, indicating building bearish pressure. MACD remains in positive territory, although having already crossed the signal line from above, at the very least it’s indicating waning topside strength. Given its trajectory, it may soon confirm the bearish signal. Good luck! DS
FOREXCOM:NAS100Short
by FOREX.com
USD/JPY Testing Major Resistance at Nine-Month HighsUSD/JPY is attempting to breach confluent resistance today at the 78.6% retracement of the yearly range and the November 2024 high-close at 154.81-155.02. Note that channel resistance rests just higher and the focus is on this slope with a weekly close above needed to fuel the next leg of the April uptrend. A topside breach here would expose subsequent resistance objectives at the 100% extension of the yearly advance at 156.52 and the 2025 high-week close at 157.70. Monthly open support rests at 154 with a break below the November range lows needed to suggest a larger pullback is underway. Key lateral support is seen at the 2022/2023 highs at 151.91/95. Bottom line: USD/JPY testing uptrend resistance for a second consecutive week- risk for potential inflection off this mark. From a trading standpoint, losses should be limited to 154 IF price is higher on this stretch with a breach above channel resistance needed to fuel the next major leg higher. Watch the weekly close here for guidance. -MB
by FOREX.com
SPX 500: Stocks look heavy US stocks are testing their session lows with major indices looking heavy amid the unwinding of carry trades... Concerns about Japan’s growing debt are intensifying. The government seems to be trying to have it both ways—implementing a massive fiscal stimulus package worth 17 trillion yen while opposing monetary policy normalization by the Bank of Japan. This conflicting stance has led to a sharp decline in the yen and bond prices, pushing Japanese yields higher. Markets now worry that the government is mishandling the economy, demanding higher returns to compensate for what they perceive as rising risk in holding Japanese debt. So why does this matter for US stocks? The turbulence in Japanese markets may be triggering a carry trade unwind, similar to what happened in the summer of 2024. In a carry trade, investors borrow funds from countries with very low interest rates—like Japan—and invest them in higher-yielding assets such as stocks, gold, or cryptocurrencies denominated in stronger currencies like the U.S. dollar. As Japanese yields climb, the cost of maintaining these trades rises. With yields now becoming uncomfortably high, traders are being forced to reduce leveraged positions across markets, including US stocks. By Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:SPX500
by FOREX.com
Break or Fade? 8627 Is the BattlegroundOur Australia 200 contract is testing a key level on the charts, providing a decent area to build trade setups around. 8627 is the focal point, coinciding with the Valentine’s Day swing high from February this year. Since then, it has acted as resistance and support on multiple occasions, so it’s no surprise the price now finds itself interacting with the level. Right now, it’s sitting beneath 8627 after failing to sustain a probe above earlier today. That mirrors what we saw late last week, suggesting bears are selling into strength and have the ascendency. RSI (14) and MACD back this up, both sitting in bearish territory and favouring short setups over long. If the price remains capped beneath 8627, shorts could be set at or below the level with a tight stop above for protection, targeting either 8565, 8500, or the 200DMA depending on desired risk-reward. Alternatively, if we see a break and close above 8627, the setup could be flipped with longs placed above with a stop below, targeting 8726 initially given it previously acted as support. As mentioned above, given recent price and momentum signals, this setup goes against the prevailing grain, emphasising the need to see any bullish reversal stick before considering long trades. Good luck! DS
FOREXCOM:AUS200
by FOREX.com
1
BTC/USD key support being testedBitcoin has seen its fair share of turbulence along with equity markets in recent days, with the drop below the $100K level triggering a wave of stops and extending the sell-off. That level also happens to coincide with yesterday’s closing price, making it an obvious pivot; reclaiming it would be a constructive development. Yesterday’s low at $97,870 is another level to keep an eye on for short-term resistance. In terms of support, the zone around 95,200—an area of consolidation before this year’s breakout—has finally been revisited. If it fails to produce a bounce, the next meaningful target for sellers lies near 85,000, a sizeable distance below. At this stage, anything is possible, and the sensible approach is to watch how price behaves around these levels rather than fixating on a single direction. Each reaction offers a potential trading opportunity. My base case is for a bounce back to $100K from here. By Fawad Razaqzada, market analyst with FOREX.com
COINBASE:BTCUSD
by FOREX.com
Euro Technical Forecast: EUR/USD Bulls Emerge at Trend SupportEuro plunged nearly 3.8% off the yearly high last week. Despite registering an intraweek low at 1.1469, price was unable to mark a close below 1.1497. The subsequent rebound has now extended more than 1.6% off the November low and the focus is now on whether the rally marks resumption of the broader uptrend or a brief pause within a larger pullback. Initial resistance is being tested today at the 38.2% retracement of the September decline at 1.1641 with key resistance is eyed at 1.1747/75- a region defined by the 2025 high-week close (HWC), the 61.8% retracement, and the yearly high-close. A breach / weekly close above this threshold is needed to mark uptrend resumption with subsequent resistance objectives eyed at the yearly swing high, the 100% extension of the 2022 advance and the 38.2% retracement of the 2008 decline at 1.1917-1.2019. Note that the upper parallel converges on this zone into the close of the year- look for a larger reaction there IF reached. Weekly support rests 1.1497-1.1537- a region defined by the March 2020 & 2022 highs, the 78.6% retracement of the July rally, and the objective monthly open. A break / weekly close below this threshold would suggest a more significant high is in place, and a larger trend reversal is underway. Subsequent support objectives eyed at the April high-close at 1.1394 and the 2024 HWC / 38.2% retracement of the yearly range at 1.1228/54. Bottom line : Euro rebounded off uptrend support with the recovery now testing initial resistance- watch the weekly close with respect to 1.1641. From a trading standpoint, losses should be limited to 1.1537 IF price is heading higher on this stretch with a close above 1.1775 ultimately needed to mark resumption of the broader uptrend. -MB
by FOREX.com
USD Rejected at Resistance- Key Test Ahead for DXYThe US Dollar reversed sharply off pivotal resistance into the November open with DXY poised to mark a second consecutive weekly loss. The focus is now on whether the pullback marks the start of a larger correction or a brief pause within the broader uptrend. The Dollar has now fallen more than 1.2% off the monthly high with the decline now breaking below the September uptrend. A simple channel extending off the monthly high is guiding this decline with initial support now eyed at 99.68/78- a region defined by the August high-day close, the May low and the 38.2% retracement. Look for a larger reaction there IF reached with a break / close below needed to suggest a more significant high is in place and a larger trend reversal is underway. Subsequent support rests at 98.03 and the 2018 high / 61.8% retracement at 97.71/80. Weekly open resistance is eyed at 99.62 and is backed closely by the November open at 99.75. A break / close above this threshold would threaten resumption of the September uptrend with key resistance steady at 100.15/35- a region defined by the 2024 low, the 200-day moving average and the 2024 low close. Strength beyond this pivot zone is needed to fuel the next major leg of the US Dollar advance. The next major technical consideration is eyed at the 1.618% extension of the September advance at 101.32. Bottom line: DXY reversed from key resistance into the monthly open with a break below then September upslope threatening a deeper setback- be on the lookout for a possible exhaustion low in the days ahead. From a trading standpoint, losses would need to be limited to 98.68 IF this is a simple correction with a break above 100.35 needed to mark uptrend resumption. -MB
TVC:DXY
by FOREX.com
GBP/USD rallies impressively to create potential reversalAlthough GBP/USD initially dipped after the release of disappointing UK data this morning, it has since recovered on broader risk-off trade, which has hurt the USD against most major currencies, most notably the euro. The GBP/USD has stormed higher after the false break below 1.3140 double bottom low from earlier this year. This level is key: bullish above it, bearish below it. Resistance is seen at 1.3250 and then 1.3310; bias bullish above these levels. UK GDP expanded by just 0.1% in the third quarter, undershooting expectations of 0.2% and slowing from 0.3% in the previous quarter. On a monthly basis, the economy unexpectedly contracted by 0.1%, against forecasts for flat growth. The figures highlight a clear loss of momentum compared to earlier in the year, when the UK had been outperforming other G7 economies. However, recent sentiment surveys indicate that both consumers and businesses are holding back on spending amid worries about significant tax increases expected in this month’s Budget. The UK economy continues to struggle for momentum, and these challenges may keep growth subdued through the final quarter of the year. The weak data strengthen the case for the Bank of England to consider rate cuts sooner, with the likelihood of a December reduction rising. But right now no one is trading the pound because of the comparatively higher UK yields, which explains why the EUR/GBP has been trending higher. And today, it is all about dollar weakness amid risk-off tone in the markets, making the likes of the euro, pound and franc more attractive, as foreign funds withdraw from US stocks. By Fawad Razaqzada, market analyst with FOREX.com
Long
by FOREX.com
Silver turns negative but is this really a double top?Gold and silver have turned lower along with global indices, as risk sentiment turns sour. With silver prices having formed a potential double top at record highs above $54, should investors be concerned with this renewed selling pressure? Well, firstly is it really a double top pattern? It is still a tentative bearish signal, the fact that prices have reversed after nearing the old high. This could be a false signal so we should be careful in drawing any conclusions from it yet. A double top without break of the neckline is not of itself a significantly bearish sign, but a waring for the late buyers, nonetheless. As a minimum, silver will need to break and close below $50 for me to turn decisively bearish on silver again. Dip-buying rules, until the charts tell us otherwise. Key levels shown on chart. By Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:XAGUSD
by FOREX.com
Nasdaq Diverges From Dow Gains — Will It Follow?From a daily perspective, the Nasdaq is testing the upper bound of a parallel channel that has been respected since the August 2025. Price action previously broke to the mid-zone of the duplicated channel near 26,300, declined to the lower border of the original pattern near 24,650, and has since rebounded toward the upper edge around 25,700. The scenarios from here are as follows: • Bullish case: A confirmed hold above 25,700 could redirect gains toward 26,300, after which another bullish projection targets the upper boundary of the duplicated channel near 26,800–27,000. • Bearish case: A drop back below 25,200 could pull prices toward 24,650, with further downside potential extending below the August–November support zone toward 23,900, 23,500, and, in extreme cases, 22,700. As the longest U.S. government shutdown in history comes to an end, the Dow has extended its gains toward new records near 48,500, while the Nasdaq and S&P 500 remain in a neutral hold, raising questions about the sustainability of further highs in 2025. Written by Razan Hilal, CMT
FOREXCOM:NAS100
by FOREX.com
GBPUSD Outlook: Double Top Risks, or Bull Run Resuming?On the 3-day chart, clear resistance appears near the 1.38 yearly highs, where price has already reversed twice, raising the risk of a potential double-top pattern around the 1.3130 zone. A decisive move below the 1.30 mark could extend another leg lower, targeting 1.27, the April 2025 low, as part of the double-top projection. On the upside, a neutral-to-bullish hold above 1.3130 — followed by a confirmed break above 1.32 — could open the door for gains toward 1.3280 and 1.3450, before retesting the yearly high at 1.38. Key Events: UK monthly GDP fell back to -0.1%, while preliminary GDP dropped to 0.1%. UK unemployment rate rose to 5%, the highest level since 2021. The longest U.S. government shutdown in history has ended, easing DXY haven pressure off major currencies - Razan Hilal, CMT
by FOREX.com
Bearish bar signals risk of deeper crude slideUnable to climb above the 50-day moving average and having just delivered an almighty bearish bar, is WTI crude about to revisit the October lows—an outcome that could put a retest of the YTD lows on the cards? With momentum indicators like RSI (14) and MACD swinging sharply lower, signaling building downside strength, the risk of such a move is growing. $58.00 is a minor level to watch near term, having acted as support and resistance at times last month. Should price trade beneath this level, shorts could be established on the break with a stop above for protection, targeting a run toward the October swing low of $56.00. The preference would be to see a back-test and rejection of the level before entry. While short setups are favored given recent price and momentum signals, should WTI manage to hold above $58.00 during Thursday’s session, the option would be there to flip the setup, allowing for longs with a stop beneath for protection. $60.00 screens as an appropriate initial target, even with the messy price action around it recently. Plenty of fundamental catalysts were bandied around to explain Wednesday’s abrupt drop, most linked to an EIA report warning of market oversupply. It undoubtedly contributed to the bearish move, but the seeds were sown well before the event given how poorly WTI traded at the 50DMA in recent weeks. Good luck! DS
FOREXCOM:USOILShort
by FOREX.com
Google Stock Approaches the $300 MarkGoogle’s stock has managed to remain near its all-time highs, and since its last major correction, it has posted a gain of more than 5% over recent trading sessions. However, the company’s recent comments regarding an increase in capital expenditures, projected to reach approximately $91 billion, have started to slow the stock’s upward momentum in the short term. This expansion in investment implies a greater financial commitment and a risk that expected revenue growth may not materialize. For now, buying pressure has entered a consolidation phase, which could lead to indecisive price movements in the coming sessions. Nonetheless, if the overall market bias remains bullish, this could support a gradual move toward the 300-dollar per share level. Uptrend Since late June, Google’s stock has maintained consistent upward movements, forming a rising trendline that has guided the price toward the $300 area. Despite the recent neutral phase, there are no significant bearish corrections threatening this trend, which continues to serve as the dominant technical structure in the short term. If buying pressure holds, the trendline could gain strength in the coming sessions. However, the recent lack of directional momentum also leaves room for potential short-term pullbacks. RSI The RSI indicator line shows dominant buying momentum, though it remains close to the overbought zone (around 70). Additionally, while the stock’s price has made higher highs, the RSI has formed lower highs, signaling a potential bearish divergence that could indicate an imbalance in market strength. This setup could lead to a short-term correction period in the coming sessions. TRIX The TRIX indicator remains above the neutral level of 0, suggesting that the average of exponential moving averages continues to show consistent buying strength. As long as the TRIX keeps rising, it could signal dominant buying pressure in the medium- to long-term trend. Key Levels to Watch: 290 USD – Major Resistance: This level corresponds to the stock’s all-time highs and represents the most important bullish barrier to monitor. A breakout above this area could trigger a more aggressive short-term uptrend, potentially pushing the stock toward the psychological 300-dollar level, provided buying pressure remains dominant. 276 USD – Immediate Support: This level corresponds to the recent pullback zone and may serve as temporary support against short-term corrections. 257 USD – Key Support: This level coincides with both the uptrend line and the 50-period simple moving average. A break below this zone could endanger the current uptrend structure and give way to a new bearish bias of technical relevance. Written by Julian Pineda, CFA, CMT – Market Analyst
NASDAQ:GOOG
by FOREX.com
USD/JPY attempts breakout above 154.50A bullish breakout in USD/JPY may be on the cards. The pair is trading marginally above 154.50, a level that has repeatedly capped gains in recent weeks. With momentum indicators showing growing upside pressure, this attempt may succeed where others have failed. If USD/JPY holds above 154.50 into the European session, longs could be considered above the level with a stop below for protection, targeting a move towards 156.50, an area that saw plenty of action around the turn of the year. Good luck! DS
Long
by FOREX.com
Dow Jones: Pressure Builds for a Topside BreakCoiling within an ascending triangle just beneath record highs, Dow Jones Industrial Average traders should be on alert for a potential bullish breakout. The slingshot price action of recent days has delivered an obvious bullish message, with the three-candle morning star pattern completed on Monday proving prescient in signalling what was to come. Now trading just below 48,000—a level it’s struggled to overcome over the past month—we’re approaching what could be a key moment for medium-term directional risks. With the ascending triangle spanning thousands of points, a clean topside break could trigger significant upside. With RSI (14) sitting above 50 but not yet overbought, upside pressure is strengthening. MACD is confirming, having staged a bullish crossover in positive territory earlier this week. The ducks are lining up for a potential bullish breakout. Should we see a clean break above 48,000, longs could be established above the former highs with a stop beneath for protection. Unless we see a close above that level, the preference would be to wait for a pullback, test and bounce from the former highs using a shorter timeframe before entry. While convention suggests a breakout from the triangle could eventually see the price trade north of 50,000, implying that could be a target, others may prefer to take their cues to exit from price action should an obvious topping signal or pattern emerge. Even though a topside break is favoured, if the bullish move continues to stall around 48,000, there’s scope to flip the setup, allowing for shorts to be placed beneath the level with a stop above the highs, targeting 47,400 or the October uptrend. This screens as a lower-probability play given recent price and momentum signals despite previous success for shorts around these levels. Good luck, DS
FOREXCOM:US30Long
by FOREX.com
USDJPY Consolidates Near 78.6% Fibonacci ResistanceUSDJPY has entered a consolidation phase just below the 0.786 Fibonacci retracement level around 154.78, following a strong recovery from mid-year lows. The pair remains above both the 50-day (blue) and 200-day (red) simple moving averages, indicating that the broader structure continues to favor the upside despite recent pauses in momentum. A series of higher lows since April forms a clear ascending trendline, underscoring the sustained bullish bias. The MACD lines are flattening near the zero level, signaling waning momentum but no confirmed bearish shift. Meanwhile, the RSI holds around 61, reflecting moderate bullish strength without reaching overbought territory. For now, USDJPY trades within a tight range between 151.60 (0.618 Fib support) and 154.80 (resistance). A decisive break beyond this upper boundary would reaffirm bullish continuation, while a move below 151.60 could open the door for a deeper pullback toward the 50% retracement near 149.35. -MW
by FOREX.com
Gold Rebounds Above 50-Day SMA After PullbackGold has regained upward momentum following a short-term correction, with price now trading back above the 50-day simple moving average (SMA) near $3,900. This area acted as dynamic support after the strong breakout from the earlier ascending triangle pattern, which had contained price action between roughly $3,250 and $3,450 for several months. The MACD histogram is beginning to flatten after a recent bearish crossover, suggesting downside momentum may be fading. Meanwhile, the RSI has recovered from near-neutral levels to around 59, showing improving strength without yet entering overbought territory — a sign that the rebound still has room to develop. From a structural standpoint, the long-term trend remains constructive, supported by the 200-day SMA trending steadily higher near $3,390. As long as gold maintains support above the 50-day SMA, the bias stays broadly bullish within an established uptrend. -MW
FOREXCOM:XAUUSD
by FOREX.com
Bitcoin Reverses off Previous Support Turned ResistanceBitcoin’s recent decline has brought price action back toward the crucial $100,000 psychological and horizontal support zone, an area that has held firm multiple times since May. The daily chart shows that price briefly dipped below this level but quickly recovered, forming a potential short-term base. The 50-day SMA (blue) has turned lower and now sits above current price, suggesting weakening medium-term momentum, while the 200-day SMA (red) continues to act as dynamic support near $103,900. A sustained close below the latter could shift the broader structure toward a more prolonged consolidation phase. From a momentum standpoint, the MACD remains below the signal line and in negative territory, reflecting persistent bearish pressure, although histogram bars are showing early signs of contraction. The RSI is currently near 38, hovering just above oversold conditions, indicating that sellers may be losing strength in the short term. Overall, Bitcoin remains in a neutral-to-bearish phase, trading between $100,000 support and $107,300 resistance. A decisive breakout beyond either boundary could define the next directional move. -MW
FOREXCOM:BTCUSD
by FOREX.com
USD/JPY Poised for Breakout as Bulls StallUSD/JPY continues to coil just below confluent resistance for a third consecutive week, with focus on a breakout of the November opening range for guidance. USD/JPY has rallied more than 6.1% off the September low with price now trading just below confluent resistance at 154.82-155.03- a region defined by the 78.6% retracement of the yearly range and the 2024 November high-close. Looking for a reaction off this mark in the weeks ahead IF reached with a breach / close above needed to mark resumption of the broader uptrend. Subsequent resistance objectives eyed at the 100% extension of the April advance at 156.52, backed by the 2025 high-week close (HWC) at 157.70 and the yearly highs at 158.88. Weekly support rests with the 2022 and 2023 swing highs at 151.92/95- a break / weekly close below this threshold would be needed to suggest a more significant high is place and that a larger correction is underway within the multi-month uptrend. Subsequent support rests with the 52-week moving average (currently ~149.32) with bullish invalidation now raised to the 38.2% retracement of the April advance at 148.92. Note that basic channel support converges on this level into the close of the month and losses below this slope would nullify the multi-month rally in USD/JPY. Bottom line: USD/JPY is trading just below confluent resistance for a third consecutive week, and the immediate focus is on a breakout of the November opening-range for guidance. From a trading standpoint, losses should be limited to 151.92 IF price is heading for a topside break on this stretch with a close above 155 needed to fuel the next major leg higher. -MB
by FOREX.com
XAU/USD Bulls Roar Back- Rebound Testing Pivotal ResistanceGold prices surged more than 3.7% into the start of the week, with XAU/USD mounting its largest single-day advance since May 6- that instance marked the monthly high in gold. Price is stalling into pivotal resistance today, and the focus is on possible price inflection off this level. XAU/USD has rallied more than 6.7% off the late-October lows with the advance exhausting today at the 10/21 reversal close at 4125. That decline marked the largest single-day range in the history and the focus is on today’s close with respect to this key threshold for guidance. XAU/USD broke above the median-line yesterday with today’s pullback testing this slope as support- look for possible inflection here over the next 24 hours. A slip back below the median-line exposes the 38.2% retracement of the late-October recovery at 4049. Note that basic channel support extending off last week’s low converges on this level over the next few days. Subsequent support rests with the 61.8% retracement and the November open at 3987-4002, with near-term bullish invalidation set to the monthly range low at 3930. Losses below this threshold would suggest a more significant correction is underway towards 3900 and the 50% retracement of the August rally at 3846. Key near-term resistance is eyed at the 1.618% extension of the late-October rally and the 61.8% extension of the decline off the record high at 4187/93. Ultimately, a topside breach / close above the 10/17 reversal close at 4252 is needed to mark resumption of the broader uptrend with subsequent resistance objectives eyed at the 2025 high-day close (HDC) and the record high at 4356/82, and the 1.618% extension of the yearly advance at 4553. Note that this level converges on uptrend resistance towards the end of the month- look for a larger reaction there IF reached. Bottom line: Gold has rallied back above the median of the yearly uptrend, with XAU/USD price action threatening to print a daily doji just below resistance. The setup highlights risk for price inflection off this zone in the days ahead. From a trading standpoint, losses would need to be contained to 4049 IF gold is heading higher on this stretch, with a close above 4193 needed to fuel the next major leg of the advance -MB
FOREXCOM:XAUUSD
by FOREX.com
Nvidia Stock Fails to Return to the $200 LevelAlthough Nvidia seemed poised to start the week with an optimistic bias, partly driven by the end of the U.S. government shutdown, which has generated a short-term confidence boost, the stock has begun to show a bearish tone in the current session, posting a decline of more than 2%. This weakness is mainly due to recent comments from the SoftBank Group, which sold its entire stake in Nvidia for approximately US$ 5.8 billion, raising concerns about a possible reduction in exposure to the semiconductor industry in the short term. This event has led to growing investor caution toward the stock and currently maintains a notable selling bias in the market. Uptrend Tries to Hold Despite recent downward corrections that have halted the stock’s steady advance, Nvidia has yet to show a decisive bearish move that would end the long-term uptrend line. In the broader picture, buying momentum continues to hold firm. However, if selling pressure continues to strengthen, the uptrend could be at risk, especially if the price falls below the 50-period moving average. RSI The RSI indicator line is gradually approaching the neutral level of 50, suggesting a balance between buying and selling forces over the last 14 trading sessions. As long as this equilibrium remains, the stock is likely to continue showing indecisive movements in the coming days. TRIX The TRIX indicator remains above the neutral level of 0, indicating that in the long-term outlook, bullish strength continues to dominate the average of exponential moving averages. As long as the TRIX stays above this level, the bullish bias may remain intact, allowing the uptrend line to continue defending its position over the coming weeks. Key Levels to Watch: 208 USD – Major Resistance: Corresponds to the area of recent highs. Price movements breaking above this level could trigger stronger buying pressure, reinforcing the current uptrend. 200 USD – Nearby Resistance: A key psychological level. Price action above this zone would reactivate a short-term bullish bias and reduce the risk of a trendline breakdown. 184 USD – Key Support: This is the most relevant support area, coinciding with the 50-period moving average and the Ichimoku cloud, which increases its significance. Downward movements reaching this zone could end the long-term bullish structure and lead to a period of indecision or the formation of a short-term consolidation range. Written by Julian Pineda, CFA, CMT – Market Analyst
NASDAQ:NVDA
by FOREX.com
USD/JPY bears need to do more to turn the tideThe USD/JPY eased off earlier highs on the back of the ADP weekly employment report before bouncing back a tad. Key resistance in the 153.30-154.50 area was still holding at the time of writing. But the bears will need to see some real downside follow-through soon and the breakdown of key support levels such as 153.50 and 153.00 before the tide turns bearish on this pair. So, more action is needed from the bears despite rising concerns about the US labour market and expectations of a December cut. Earlier, the ADP report confirmed what many analysts had anticipated following recent announcements of major layoffs at several large companies. However, the magnitude of the decline came as a surprise, catching FX traders off guard and sending the US dollar lower. With growing concerns that the labor market may be weakening further, traders raised their expectations for another 25-basis-point rate cut in December. According to ADP, “for the four weeks ending October 25, 2025, private employers shed an average of 11,250 jobs per week, indicating that the labor market struggled to generate consistent job growth in the latter half of the month.” The data suggest that Federal Reserve officials may now start to sound more concerned about the labor market slowdown than Chairman Powell indicated at the FOMC press conference a couple of weeks ago. This could pave the way for additional rate cuts, particularly if inflation continues to ease, an outcome that seems likely amid a slowing economy. By Fawad Razaqzada, market analyst with FOREX.com
by FOREX.com
USD/CAD Rally Stalls into Trend Resistance at Seven-Month HighsThe Canadian Dollar is getting reprieve today with USD/CAD snapping a six-day rally to seven-month highs. Stronger-than-expected Canadian employment figures amplified today’s decline with a reversal off uptrend resistance now threatening a deeper correction within the July uptrend. The immediate focus is on this pullback in the days ahead with the November opening-range taking shape above the median-line. Initial support rests with the October high close at 1.4055 and is backed by the monthly open / May high at 1.4011/17- note that the medina-line converges on this threshold next week. Ultimately a break / close below the 2022 high / 61.8% retracement of the recent advance at 1.3977/85 is needed to suggest a more significant high is in place / a larger reversal is underway. Subsequent support rests with the 200-day moving average at (currently at 1.3940) with broader bearish invalidation steady at 1.3881/99- a region defined by the 2022 high-close and the 2023 swing high. Initial resistance now eyed with the monthly high-close at 1.4115 and is backed by the 50% retracement of the yearly range / November high at 1.4167/78. A breach / close above this threshold would threaten another accelerated advance with subsequent top-side objectives eyed at the March low at 1.4235 and the 61.8% retracement at 1.4315. Bottom line: USD/CAD has responded to uptrend resistance and the risk now rises for a deeper pullback within the broader July advance. From a trading standpoint, losses would need to be limited to 1.3978 IF price is heading higher on this stretch with a close above 1.4178 needed to fuel the next major leg of the rally. -MB
by FOREX.com