The Dow Jones index has started the week with a strong bullish bias, pushing the price up by more than 1% in the short term. This upward trend has remained solid despite growing military tensions in the Middle East. While the conflict caused significant volatility last week, markets have now digested the uncertainty, with CNN’s Fear and Greed Index remaining...
USD/CAD broke below key support last week with price attempting to mark a third consecutive weekly loss. A break of multi-year uptrend threatens further losses here with confluent support now within striking distance at 1.3504/23- a region defined by the 1.618% extension of the February decline and the 78.6% retracement of the late-2023 advance. Note that channel...
The latest escalation in the conflict between Israel and Iran initially didn't cause much panic in the oil market. After spiking initially to an overnight high of $75.70, WTI has since been on a decline, before hitting a low so far of $68.50. That represents a 9.5% drop from the overnight high, which is massive. Investors have been pricing out the risk of of oil...
Nasdaq continues to trade just below a one-month resistance line, which connects consecutive higher highs formed between May and June 2025. This line has capped the index just shy of the 22,000 mark, as price action navigates the push and pull between summer momentum, geopolitical tensions, and economic uncertainty.
To the upside, a decisive break and hold above...
Amid rising summer demand, an inverted head and shoulders breakout from oversold 2020 levels, and the recent outbreak of war between Israel and Iran, crude oil has tested the upper boundary of the declining channel originating from the 2022 highs. This test comes as supply risks for the coming month intensify.
This upper boundary aligns with the $77 resistance...
Over the last three trading sessions, USD/CHF has declined more than 1.5%, as a consistent bearish bias persists, pushing the pair back to multi-month lows. Selling pressure has remained firm amid uncertainty surrounding the escalation of political and military tensions in the Middle East. So far, the U.S. dollar has failed to act as a safe haven, while the Swiss...
GBP/JPY consolidates after pushing above the May high (196.41) earlier this week, but the pullback in the exchange rate may turn out to be temporary as it holds above the monthly low (192.73).
In turn, a move/close above the 195.70 (61.8% Fibonacci extension) to 196.60 (23.6% Fibonacci extension) region may lead to a test of the January high (198.26), with the...
Gold prices are poised to mark a third consecutive daily advance with XAU/USD clearing the June opening-range on news of war breaking out in the Middle East. The breakout takes price into uptrend resistance and while the broader outlook remains constructive, the immediate advance may be vulnerable while below this slope.
A rally of more than 1.7% extended into...
EUR/JPY is on the cusp of confirming an evening star pattern, setting up a potential short if the price closes around current levels or lower.
165.00 remains key support. It’s already been tested today before bouncing—price behaviour we’ve seen before. It often trades through but rarely closes below with conviction, putting focus on how it trades into and out of...
NZD/USD seems to be coiling within the opening range for June as it bounces back ahead of the monthly low (0.5961).
In turn, a move/close above 0.6070 (61.8% Fibonacci extension) may push NZD/USD toward 0.6170 (50% Fibonacci extension), with the next area of interest coming in around 0.6230 (50% Fibonacci extension) to 0.6260 (38.2% Fibonacci extension).
At the...
The price of oil may further retrace the decline from the April high ($71.16) as it continues to carve a series of higher highs and lows, and a move above 70 in the Relative Strength Index (RSI) is likely to be accompanied by a further advance in crude like the price action from earlier this year.
In turn, a break/close above the $70.30 (61.8% Fibonacci...
USD/CAD broke through a key pivot zone last week at 1.3721/94- a region defined by the 38.2% retracement of the 2021 advance and the 61.8% retracement of the late-2023 advance. The subsequent decline is now extending more than 2.9% off the May highs with initial support within striking distance.
Weekly momentum has now dropped to the lowest levels since 2021 and...
With equity markets well off their earlier lows, the USD/JPY is also bouncing back, although it is not out of the woods yet with risks remaining tilted to the downside amid signs of weak inflation data and Trump's tariff threats.
Technically, the USD/JPY has been in consolidation mode, but a potential break of the trend line could trigger a sharp drop towards...
Rising geopolitical tensions and sliding U.S. Treasury yields have dragged USD/CHF sharply lower, delivering a bearish engulfing candle on the daily and pushing the pair back towards the June low at .8160. The move sets up a potential short should that level give way.
A clean break of .8160 would allow for positions to be established with a stop above for...
Having surged more than 20% from the April lows, we could be nearing a turning point for Nasdaq 100 futures.
Bullish momentum is showing signs of shifting lower, while Wednesday’s inverted hammer candle—on a day when tech stocks were given every excuse to rally thanks to the soft U.S. inflation report and subsequent decline in Treasury yields—warns the rally may...
At the moment, GBP/JPY continues to face steady buying pressure, which has held firm as the yen weakens gradually, driven by a temporary easing in trade war tensions. This has diminished the yen’s appeal as a safe-haven asset in the short term. While the bullish bias remains intact, it has not been strong enough to break out of the broad sideways channel that has...
On the weekly chart, crude oil trades above the mid-range of a descending channel that has been in place since the 2022 highs. The RSI remains just below the neutral zone, suggesting a cautiously bullish-to-neutral outlook while prices hover near the $65 resistance level.
From a daily perspective, oil prices are breaking out above the $65 resistance, and a firm...
Silver has surged past the $36.40 per ounce mark, reaching its highest level in 13 years after a clean breakout from a one-month consolidation phase spanning April and May 2025. The breakout targets the $37 level and aligns with a rising channel defined by higher lows since February 2024.
If silver retraces below $36, potential support levels include $35.70,...
