Sr. Technical Strategist Michael Boutros highlights the targets & invalidation levels that matter on the technical charts into the weekly open.
@MBForex
USD/CHF approaches the January high (0.8729) as it trades back above the 50-Day SMA (0.8635).
USD/CHF Rate Outlook
USD/CHF may no longer respond to the negative slope in the moving average as it trades above the indicator for the first since November, with a breach above the January high (0.8729) raising the scope for a move towards the 0.8770 (23.6% Fibonacci...
GBP/JPY may give back the advance from the January low (178.74) as it snaps the range bound price action from last week.
GBP/JPY Outlook
GBP/JPY appears to under pressure following the failed attempts to break/close above 189.00 (38.2% Fibonacci extension), with the Relative Strength Index (RSI) reflecting a similar dynamic as it reveres courses ahead of...
Join Strategist David Song to cover the key event risk that could influence financial markets in the week ahead. Discuss major fundamental themes along with current market developments.
The price of gold may track the positive slope in the 50-Day SMA ($2031) as it attempts to break out of the range bound price action carried over from last week.
Gold Price Outlook
The price of gold clings to the recent series of higher highs and lows after registering a fresh weekly high ($2056), with a breach above $2076 (78.6% Fibonacci extension) raising...
The S&P500 registers a fresh yearly high (4932) and the index may continue to push higher as the Relative Strength Index (RSI) holds above 70.
S&P500 Index Outlook
The overbought reading in the RSI may accompany a further advance in the S&P500 to mirror the price action from December, with the 4950 (161.8% Fibonacci extension) to 4980 (78.6% Fibonacci...
ETH/USD appears to be bouncing back ahead of the monthly low ($2107) as it trades back above the 50-Day SMA ($2262).
ETH/USD Outlook
ETH/USD carves a series of higher highs and lows following the failed attempts to close below the $2176 (61.8% Fibonacci extension) to $2228 (50% Fibonacci extension) region, with a breach above the $2316 (61.8% Fibonacci...
Sr. Technical Strategist Michael Boutros highlights the targets & invalidation levels that matter on the technical charts into the weekly / monthly open with the FOMC, BoE and NFPs on tap.
@MBForex
GBP/JPY trades in a narrow range after clearing the November 2015 high (188.81).
GBP/JPY Outlook
GBP/JPY consolidates after struggling to test the monthly high (188.94) earlier this week, but the Relative Strength Index (RSI) may show the bullish momentum abating as it appears to be reversing ahead of overbought territory.
Failure to defend the weekly low...
Following extremely dovish rate cut expectations that drove stocks to record highs in December 2023, a market correction was expected as it became clear the Fed would delay trimming rates. Although a minor correction occurred in the first week of 2024, the markets have continued to surge into uncharted territory, despite reduced chances of a March rate...
Join Strategist David Song to cover the key event risk that could influence financial markets in the week ahead. Discuss major fundamental themes along with current market developments.
BTC/USD bounces back from a fresh monthly low ($38510), but Bitcoin may struggle to retain the advance from the December low ($37624) as the Relative Strength Index (RSI) sits at its lowest level since September.
BTC/USD Outlook
BTC/USD has fallen more than 18% from the monthly high ($49037) and the recent rebound in Bitcoin may end up being short lived as it...
USD/CHF trades above the 50-Day SMA (0.8678) for the first time since November, with the exchange rate extending the advance from the start of the week to register a fresh monthly high (0.8729).
USD/CHF Rate Outlook
USD/CHF may no longer respond to the negative slope in the moving average as it extends the advance from the start of the month, with a...
Sr. Technical Strategist Michael Boutros highlights the targets & invalidation levels that matter on the technical charts into the weekly open.
@MBForex
The price of gold dipped below the 50-Day SMA ($2022) for the first time since November to register a fresh monthly low ($2002).
Gold Price Outlook
The price of gold bounces along the 50-Day SMA ($2022) as it attempts to retrace the decline from the start of the month but, need a move above $2076 (78.6% Fibonacci extension) to bring the January high ($2079) on...
Join Strategist David Song to cover the key event risk that could influence financial markets in the week ahead. Discuss major fundamental themes along with current market developments.
GBP/JPY appears to be on track to test the 2023 high (188.66) as it trades back above the 50-Day SMA (184.27).
GBP/JPY Outlook
GBP/JPY extends the recent series of higher highs and lows to register a fresh monthly high (188.13), with a break above the 2023 high (188.66) bringing the November 2015 high (188.81) on the radar.
Next area of interest comes in...
BTC/USD threatens the upward trend from last year as it gives back the rebound from the monthly low ($41378).
BTC/USD Outlook
BTC/USD struggles to trade back above trendline support even though it snaps the recent series of lower highs and lows, and failure to defend the monthly low ($41378) may push Bitcoin towards $40310 (100% Fibonacci extension).
Next...
