From a monthly perspective, Gold’s broader trajectory appears to align with a classic cup and handle formation, targeting the $3,700 and $4,000 per ounce levels—supported by a clear hold above $3,500. However, given the steep momentum currently in play, significant headwinds are likely as the market consolidates.
These may serve to recharge monthly momentum that...
Over the past five trading sessions, the USD/MXN pair has declined by more than 2%, as the Mexican peso continues to gain ground against the U.S. dollar. This bullish trend in the peso is partly driven by the ongoing weakness in the U.S. dollar, as reflected in the DXY index, which has fallen to 99 points, its lowest level in the past year.
The dollar’s weakness...
The signal from last week’s bullish engulfing candle on ASX 200 SPI futures has proven reliable so far, with the price rocketing above 7900 on Monday, providing a platform to establish long positions around.
With optimism building over trade deals between the United States and major partners, including China, bulls may look to enter above 7900 with a stop beneath...
Bitcoin has climbed above the $90K level for the first time since early March. Is this an indication of risk appetite improving, or are investors buying Bitcoin for the same reason they are buying gold? In any case, as traders, we care about the HOWs and WHEREs more than the WHYs.
With that in mind, it is worth keeping an eye on the next areas of potential...
AUD/USD sits at a key level, banging up against the dominant uptrend dating back to October 2022.
You can see from past price interaction how pivotal this trendline has been — initially acting as support before flipping to resistance after being broken late last year.
The bullish engulfing weekly candle from early April flagged what’s since played out, hinting...
Over the last three trading weeks, the GBP/JPY pair has depreciated by more than 3%, establishing a firm bearish bias in favor of the yen in the short term. This perspective has remained intact primarily due to growing expectations of a more dovish monetary policy from the Bank of England, which left its interest rate unchanged at 4.5% in its latest meeting....
Gold exploded higher again on Monday, climbing to $3,413, a new all-time high. The uptrend remains unstoppable for now:
🚀 Price is up nearly +2.6% on the day
📈 Strong support from rising trendline and 50-day SMA
📊 MACD is accelerating, signaling strong momentum
⚠️ RSI has entered overbought territory at 76.83, but no bearish divergence yet
The trend is your...
The U.S. dollar continues to slide against the Swiss franc, with USD/CHF falling below 0.8100 and hitting its lowest level since 2015. The technical picture remains heavily bearish:
📉 Price is well below the 50- and 200-day SMAs
⚠️ RSI is deeply oversold at 26.21, but showing no bullish divergence yet
📉 MACD is accelerating to the downside, confirming downside...
The euro continues its sharp ascent, breaking convincingly above key resistance at 1.1200 and now eyeing the 78.6% Fibonacci retracement near 1.1745. Momentum remains firmly bullish:
🚀 Price has surged through both the 50- and 200-day SMAs
📈 MACD is accelerating higher, showing strong bullish momentum
📊 RSI is nearing overbought territory at 74.92, but not...
Gold is rallying on a combination of safe-haven flows and Dollar weakness, approaching the $3,420 resistance. While momentum is elevated—resembling crisis-era extremes—further gains are possible amid continued uncertainty.
If $3,420-$3450 zone holds, aligning with key Fibonacci extensions (drawn from the 2018 lows, 2020 highs, and 2022 lows), and trendline...
As the U.S. dollar lingers near 3-year lows, the euro is testing 3-year highs—holding critical resistance zone at 1.1520.
This level marks a pivotal point, further challenging the broader downtrend that has shaped the EUR/USD chart since 2008.
A confirmed breakout above 1.1520 could open the door to further upside toward 1.17 and 1.20, revisiting the highs last...
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...
