It's a fast start to the week for the FX market and the U.S. Dollar recovery has shifted into another gear. CPI data headlines this week's economic calendar and that can certainly carry some punch, but the past two weeks have been big for USD/JPY with rate meetings out of both Japan and the U.S., with the net being a massive move in the pair after the test at...
Nasdaq 100 futures have gapped higher upon the Asia market open, leaving them sitting above the important 200-day moving average. With momentum indicators like RSI (14) and MACD generating bullish signals, it’s an environment that favours buying dips and topside breaks.
However, the coast is not entirely clear for bulls with the price struggling to take out the...
EUR/USD lost a really big level this week when bears pushed through the 1.1275 Fibonacci level. This is the 61.8% retracement of the 2021-2022 major move, and that price was the swing high in 2023. More importantly for the past three weeks that level was support for EUR/USD, both before and after the failed run at the 1.1500 handle.
This move has been a big part...
USD/JPY has been tricky this year as the pair has brewed several bear traps and there's even been some bull traps along the way. Trading breakouts in a market like that can be even more frustrating than usual, as a case in point the 140.00 test from a few weeks ago was a brutal false breakout that then led to a 500+ pip reversal.
Last week's Bank of Japan...
This week has been the third consecutive week of gains for DXY and this comes in stark contrast to the bearish trend that drove price in early-April trade. This week was of course a lift from the FOMC rate decision, and next week brings inflation back to center-stage with the Tuesday release of CPI.
In DXY, we've only seen a mere 23.6% retracement of the 2025...
Over the past two trading sessions, oil has gained more than 4.5%, and is once again approaching the psychological barrier of $60 per barrel. This recent bullish movement persists despite OPEC+’s clear stance on increasing supply in June and the International Energy Agency’s (IEA) cautious outlook on global oil demand for the remainder of the year. As such, it...
Based on the fact that equity markets have surged higher amid trade optimism, one would have expected gold to head lower. Well, it did fall in the last couple of days but it was trading near the session highs at the time of writing, up more than 1.1% on the session. The US dollar had weakened after staging a rally the day before, while the situation between India...
Dow futures cleared not only the 200DMA on Thursday but also downtrend resistance dating back to the record highs set in February, suggesting a new trend may now be underway. While the initial rejection at 41787 warrants some caution, with momentum indicators swinging into bullish territory, there’s enough here to consider long setups heading into this weekend’s...
USD/CAD rebounded off the lower parallel of the March downtrend with a breakout of the weekly opening-range extending into pivotal resistance.
Support now rests with the low-day close (LDC) / 61.8% retracement of the December 2023 advance / monthly open at 1.3778/98- a break / close below this threshold would be needed to mark downtrend resumption towards the...
The U.S. index has been gaining more than 2% in recent trading sessions, and the bullish bias has remained intact since the Federal Reserve’s decision during yesterday’s session. The central bank once again opted to keep the interest rate steady at 4.5%. However, according to some comments, Chairman Powell mentioned that the economy is approaching a point where it...
EUR/USD has extended more than 2.6% off the yearly highs with tight monthly & weekly opening-ranges preserved heading into today’s FOMC rate decision. The focus is on a breakout of the 1.1275-1.1420 range.
EUR/USD continues to trade within the confines of a descending pitchfork extending off the monthly highs. Initial support rests with the 2023 swing high at ...
Over the last five trading sessions, Nvidia’s stock has gained more than 9%, and short-term bullish momentum remains intact as the tech giant appears to benefit from expectations of a potential easing in trade war tariffs. Notably, the company’s CEO, Jensen Huang, recently stated that the Chinese market for artificial intelligence chips could reach $50 billion...
Sterling finds itself walking a financial tightrope this week. The GBP/USD is delicately poised between transatlantic central bank decisions and murky trade headlines. As the Federal Reserve holds court across the pond and the Bank of England gets ready to show its hand, traders are bracing for a possible divergence in tone—and in policy. The dollar has taken a...
How EUR/AUD interacts with the 50DMA in the near-term may offer a useful steer on directional risks over the medium-term. For now, it’s bounced off the level, finding buyers after the initial disappointment from China’s latest support measures. Still, the long topside wicks on the past two daily candles, coupled with increasingly bearish momentum, suggest downside...
Ford's stock gained more than 5% in the latest session after the company’s earnings were released following the close of yesterday’s trading. For now, investor confidence remains strong, as the company reported earnings of $0.14 per share, significantly beating expectations of $0.02, and revenue of $37.42 billion, above the estimated $36.21 billion.
In addition,...
US stocks trimmed their earlier losses after the Trump administration delivered the latest dose of jawboning. This time it was trade secretary Scott Bessent, saying trade negotiations with several partners are going well and that there is a possibility of “substantial reduction” in tariffs on US goods. He added some deals could be announced as early as this week....
USDJPY remains above the 0.618 Fibonacci retracement zone at 139, stemming from the uptrend between January 2023 (127.20) and July 2024 (162.00).
However, the pair is currently trading below resistance at 146, steering the trend back toward key support levels at 142 and 139.
A decisive break below 139 could expose new 2025 lows near 138.30 and 134.60, both key...
Gold is currently testing the 0.618 Fibonacci retracement of the drop from $3,500 to $3,200, located at the $3,380 level.
A clear hold above 3390 could pave the way back toward $3,430 and the $3,500 resistance zone.
• A breakout above $3,500 may extend the rally toward $3,700 and the $4,000 target zone.
• On the downside, short-term support levels may be seen...
