The S&P 500 has rallied more than 15.6% off the lows with the bull now testing confluent resistance at 5531/43 - a region defined by the 78.6% retracement of the monthly range and the April high-day close. Note that a three-point resistance slope converges on this threshold and the immediate advance may be vulnerable while below.
Initial support rests with the...
The German index has posted steady gains, rising nearly 7% over the last four trading sessions, mainly driven by the low interest rates maintained by the ECB at 2.25%, as well as the easing of potential trade war tensions, which has allowed the index’s bullish bias to remain strong in recent weeks. However, buying candles have been gradually diminishing over the...
Ahead of a busy week, the S&P 500 has found resistance at a key area of resistance near 5550. The Index had rallied in the previous three sessions, but with trade and economic uncertainty still at the forefront, investors are not rushing to chase this rally - and rightly so. May be they will still buy the dip as we head deeper into the week, though, given Trump's...
EUR/JPY has been digesting for the better part of the past nine months. While both Euro and USD strength have been on full display in varying ways over that period of time, each currency has been a bit more balanced against the Japanese Yen.
The range has been wide at more than 800 pips but there's also a descending triangle that's set up along the way, with...
The DXY is currently maintaining a bullish setup amid trade negotiations, election developments, and anticipation of key leading U.S. economic indicators this week.
An inverted head-and-shoulders formation is visible on the 4-hour time frame. A decisive catalyst and a breakout above the 100.00 and 100.30 levels are needed to confirm a more sustained bullish...
Russell 2000 futures look sluggish heading into a week laden with macro risk events. Given the cyclical characteristics of the underlying index, any hint of weakness may amplify U.S. recession fears, increasing the risk of renewed downside for stocks.
Sitting within what resembles a rising wedge and with a possible evening star pattern forming, the risk of a...
Last week I highlighted the oversold reading on the weekly DXY chart. While bulls didn't exactly put in a massive showing it was also one of the first green weekly bars in a month.
Notably, the monthly April bar looks very bearish but the bulk of those losses were in the first 11 days of the month and last week, on Monday, a massive spot of support came into...
EUR/USD is working on its first red weekly candle after four consecutive weekly gains, and that had extended a strong showing in early-March as bulls started to take over. Interestingly this happens with the backdrop of a dovish ECB and this leads to CPI data for next week.
There's increasingly attractiveness behind swings, as taken from that indecision on the...
Google's stock managed to post a bullish gap of more than 3% in the last session, shortly after the company announced its quarterly results. Initially, it was reported that total sales for the last published quarter reached $90.23 billion, compared to the expected $89.12 billion. In addition, the company posted earnings per share of $2.81, beating expectations of...
Trump continues to say positive things - just now suggesting that they are very close to a deal with Japan on tariffs. But it is China where the bulk of uncertainty lies. He has been quite upbeat this week, but China continues to push back against the optimism.
European indices extended their gains, buoyed by the previous day’s upbeat mood, while US futures have...
After a bullish wedge break and having cleared the key 50-day moving average earlier this week, bitcoin bulls will now be eyeing a break above $95,000, especially with indicators such as RSI (14) and MACD signalling strengthening topside momentum.
A break and close above $95,000 would generate a bullish setup, allowing for longs to be established above with a...
During the last trading session, the GBP/USD pair posted a gain of more than 0.5% in favor of the pound, as U.S. dollar weakness continues, even after some positive remarks regarding the U.S.–China trade war. For now, it seems that investors are viewing European currencies as a potential safe haven amid the current wave of economic uncertainty across markets. This...
The DAX has enjoyed a very good recovery from its lows made earlier this month, outperforming many global indices. However, even the flying German index could be due a pullback now that it has reached a major resistance area.
As per the chart, the area between 21970 to 22240 marks a major zone. This area was previously a key support zone which gave way during the...
WTI formed a large bearish engulfing candle on its daily chart yesterday near the key $65 resistance level. Was that an indication that prices have ended their corrective bounce? Time will tell, but today's oil prices have bounced back. With the trade uncertainty in the background, demand concerns remain high.
So, I wouldn't be surprised if prices were to resume...
With the key 200-day moving average overhead and having failed to sustain pushes above .9400 earlier this month, EUR/CHF finds itself at an interesting level on the charts, generating multiple potential setups depending on how near-term price action evolves.
If the price is unable to hold above .9400, shorts could be initiated with a stop above the 200-day moving...
Tesla’s stock is currently hovering near the $250 level, after a bullish gap formed following the release of its latest earnings report. Initially, the company's results fell short of expectations: earnings per share came in at $0.27 versus the expected $0.39, and total revenue reached $19.3 billion versus $21.11 billion anticipated by the market. Despite this,...
Gold has extended its slump, now off by more than $230 (-6.5%) from yesterday's record high of $3.5K. Unwinding of "Sell America" trades continue as risk assets rally on Trump's trade optimism.
Key levels to watch
With short-term support broken at $3,342, this level has already turned into resistance.
The next support was at $3,284. This level has just been...
USDJPY is currently retesting its 2024 lows and the 0.618 Fibonacci retracement level of the uptrend from January 2023 to July 2024, near the critical 139 zone.
The daily Relative Strength Index (RSI) is now in oversold territory—levels that have previously marked key reversals for USDJPY in both 2023 and 2024. If a reversal takes hold, potential resistance...
