GBP/USD trades back below the 50-Day SMA (183.15) after failing to clear the monthly high (183.82), and the exchange rate may struggle to retain the advance from the monthly low (178.10) as a head-and-shoulders formation appears to be taking shape.
GBP/JPY Outlook
GBP/JPY seems to be trading within a defined range as it struggles to push above 183.90 (50%...
ETH/USD is on the cusp of testing the August high ($1878) as it trades back above the 50-Day SMA ($1630).
ETH/USD Outlook
ETH/USD climbs to a fresh monthly high ($1854) as it extends the recent series of higher highs and lows, with the rally in Ethereum pushing the Relative Strength Index (RSI) up against overbought territory.
A move above 70 in the RSI is...
BTC/USD extends the series of higher highs and lows from last week to register a fresh monthly high ($30985), with the recent rally in Bitcoin triggering an overbought reading in the Relative Strength Index (RSI).
BTC/USD Outlook
BTC/USD appears to be on track to test the yearly high ($31826) as it stages a three-day rally, and the move above 70 in the RSI may...
The price of gold breaks out of the descending channel from earlier this year to clear the September high ($1953).
Gold Price Outlook
The price of gold clears the range-bound price action from earlier this week to register a fresh monthly high ($1975), with a break/close above the $1973 (78.6% Fibonacci retracement) to $1977 (50% Fibonacci extension) opening...
USD/CHF is on track to weaken for the third consecutive week as it trades to a fresh monthly low (0.8955).
USD/CHF Rate Outlook
USD/CHF extends the decline from the start of the week to trade below the 0.9000 (50% Fibonacci retracement) to 0.9030 (38.2% Fibonacci extension) region, and a move below the 50-Day SMA (0.8955) may push the exchange rate towards the...
Today saw US 10-year yields hit a fresh 2023 high, approaching the key 5.00% level. In response, Wall Street shares fell, which pushed the major indices into the negative territory. The S&P 500 was down about 1% to display a large bearish-looking candle on the daily time frame until about half an hour ago.
The bond market found some support late in the session...
AUD/JPY may attempt to retrace the decline from the monthly high (96.42) as it extends the advance from the start of the week.
AUD/JPY Rate Outlook
AUD/JPY continues to trend sideways after breaking out of the descending channel from earlier this year, and the exchange rate may track the flattening slope in the 50-Day SMA (94.60) as it holds within the opening...
A head-and-shoulders may take shape in GBP/JPY if it struggles to retrace the decline from the September high (185.78).
GBP/JPY Outlook
GBP/JPY may no longer reflect the bullish trend from earlier this year amid the flattening slope in the 50-Day SMA (183.40), and failure to trade back above the moving average may curb the recent rebound in the exchange rate...
ETH/USD takes out the September low ($1532) as it extends the decline from the start of the month.
ETH/USD Outlook
ETH/USD snapped the opening range for October after testing the 50-Day SMA ($1665), and Ethereum may continue to give back the advance from the March low ($1371) if it tracks the negative slope in the moving average.
Need a break/close below the...
The price of gold approaches the former support zone around the August low ($1885) as it clears the opening range for October.
Gold Price Outlook
The price of gold appears to have reversed ahead of the February low ($1805) as it carves a series of higher highs and lows, with a break/close above the $1886 (23.6% Fibonacci extension) to $1896 (61.8% Fibonacci...
The USD/CNH has been consolidating near the previous year’s high of 7.3450. But over the next week or so, there will be lots of key data releases from both the US and China to move this pair decisively. The key support level to watch is at 7.2700. A break below this level is needed to ignite some real selling pressure.
FOMC meetings minutes
Wednesday, October...
The price of oil may attempt to retrace the decline from the monthly high ($91.88) as crude trades back above the 50-Day SMA ($85.17).
Crude Oil Outlook
The price of oil holds steady after gapping higher at the start of the week, but a close above the $85.70 (38.2% Fibonacci extension) to $86.60 (38.2% Fibonacci retracement) region opens up $88.20 (50%...
USD/ILS may stage further attempts to test the January 2016 high (3.9888) as the Relative Strength Index (RSI) flirts with overbought territory.
USD/ILS Outlook
USD/ILS breaks out of the range bound price action from earlier this month to register a fresh yearly high (3.9842), and the exchange rate may track the positive slope in the 50-Day SMA (3.7899) as...
GBP/JPY bounces back ahead of the July low (176.33) to snap the recent series of lower highs and lows, but the exchange rate may face range bound conditions if it fails to climb above the 50-Day SMA (183.31).
GBP/JPY Outlook
GBP/JPY consolidates after struggling to close below the 179.40 (23.6% Fibonacci retracement) to 179.70 (61.8% Fibonacci extension)...
The GBP/USD fell more than 7.5% from its high in Q3 to its lowest point last week. At the start of Q4, it has enjoyed a bit of a relief rally, as US bond yields, crude oil and the dollar have all taken a back seat, ahead of Friday’s jobs report. While we can’t rule out the possibility of a sharper oversold bounce in the coming weeks, we think that the upside will...
The price of gold has come up against channel support after falling for seven consecutive days.
Gold Price Outlook
The recent selloff in the price of gold has pushed the Relative Strength Index (RSI) into oversold territory for the first time in 2023, and bullion may face a further decline as long as the oscillator holds below 30.
Failure to defend the March...
The price of oil carves a series of lower highs and lows as it continues to pullback from the yearly high (95.03), but crude may attempt to track the positive slope in the 50-Day SMA ($84.74) as it holds above the moving average.
Crude Oil Outlook
The price of oil appears to have reversed ahead of the August 2022 high ($98.65) as it slips to a fresh weekly low...
BTC/USD trades back above the 50-Day SMA ($27380) to clear the September high ($$27491), and Bitcoin may attempt to retrace the decline from the August high ($30200) as the Relative Strength Index (RSI) pushes to its highest level since July.
BTC/USD Outlook
The lack of response to the negative slope in the moving average may lead to a further advance in...
