In this second part of our series, we shift focus from the market open to the close—the final hour of the trading session. The dynamics of the close are different from the open because the time to act is much shorter. Unlike the open, where you have the whole trading day ahead of you, the close compresses decisions into a much tighter window. This makes the...
After two weeks of consolidation, EUR/USD is teetering on the edge of a breakout as traders prepare for tomorrow's pivotal Federal Reserve rate decision. With market participants awaiting the outcome, let’s take a look at how EUR/USD is positioned ahead of this key event.
Powell’s Soft Landing Challenge
The Fed is widely expected to lower interest rates for...
Gold price (XAU/USD) continues to push to new highs as traders lean in favour of a 50-basis point cut at the FOMC meeting on Wednesday. The anticipation of the fist cut from the Federal Reserve is driving risk appetite, allowing gold to continue attracting new buyers. The softer economic data – which is enabling rate cuts – is also a direct driver of bullishness...
Nvidia's share price has taken a breather over recent months, forming a symmetrical triangle pattern. This technical setup often signals a potential breakout—let’s delve into what this could mean for the stock and explore some strategies for trading it.
Financial Performance: Strong Fundamentals Amidst Consolidation
While Nvidia's share price has been...
Welcome to our 2-part series on how to trade the two most intense, liquid, and volatile periods of the trading day: the open and the close. These moments bookend the trading session and are critical for traders who thrive on fast-paced environments.
In Part 1, we’ll focus on the open—the first hour after the market bell rings. We will explore why this period...
NIO Inc. has recently attracted attention with a powerful rally following the release of its Q2 2024 results, leading traders to wonder if the electric vehicle giant has finally bottomed out. With a surge in deliveries and a marked improvement in financial performance, combined with changing technical signals, NIO’s stock may be at a pivotal point.
Why Last...
Gold prices continue to hover near their recent highs, supported by a mix of economic uncertainty and geopolitical tensions. Let’s take a look at the key factors influencing gold's consolidation phase and what traders should be watching next.
Economic and Geopolitical Pressures Provide Dual Support
The U.S. jobs report for August, released last Friday,...
When day trading forex, it’s easy for traders to get caught up in the ebb and flow of intraday volatility. This is where setting a daily bias becomes crucial. Having a clear directional bias forms the bedrock of your trading plan, providing a compass to guide your trading decisions throughout the day. It helps maintain focus, reduce emotional trading, and improve...
AUD/USD has formed a bearish swing failure pattern on the daily chart, suggesting a possible reversal after failing to break July's highs. While this pattern has previously predicted strong moves, upcoming Australian GDP and US non-farm payroll data could still sway the pair's direction.
Understanding the Swing Failure Pattern and Its Implications
A swing...
Bias in EUR/GBP has started to skew higher after bouncing off the 0.84 mark, but resistance remains firm at 0.8433. The momentum for the past few sessions has been bullish but the gains have been limited, with pullbacks from the intraday highs, forming a series of inverted hammer candlesticks, potentially signalling a reversal at the end of a downtrend.
The RSI...
After a wild and volatile summer, the S&P 500 finds itself in a tight range, coiled beneath all-time highs as we head into September—a month historically known for its weakness. The S&P 500’s recent behaviour suggests a potential breakout, but the question remains: which direction will it take?
A Roller-Coaster Summer
The S&P 500 hit new all-time highs in...
Gold traders seem to be testing the waters in an attempt to find the appetite for a new all-time high. The daily highs from this week have come to rest just below $2,529 as buyers haven’t quite found the drive to break last week’s high at $2,531. The momentum seems to be there, with the bias still firmly higher and an RSI that still has room to go before showing...
GBP/USD, known as "cable," has surged to levels not seen since early 2022, prompting questions about how much further it can climb. As both fundamental and technical factors come into play, we take a look at whether the recent gains are sustainable or if a correction is looming.
Fundamental Drivers of GBP/USD Strength
Three key fundamental drivers have...
Welcome to the final part of our three-part series on Volume Profile Analysis. In the previous segments, we covered the essentials of Volume Profile and techniques for uncovering hidden market levels. In this final instalment, we’ll explore how to trade breakouts using the concept of pockets of hot air—areas where the market moves efficiently from one high-volume...
AI powerhouse, Nvidia, is set to unveil its second-quarter earnings on Wednesday, August 28th. With anticipation running high, let's delve into what to expect from Nvidia's upcoming earnings release.
Can Nvidia Beat the Street?
Market expectations are high ahead of Nvidia’s Q2 FY2025 earnings release, with analysts projecting impressive growth figures. The...
GBP/USD is back attempting to build the gains further after snapping a 7-day winning streak on Monday as the UK was closed for a Bank Holiday. The pair climbed over 3% in that time but the gains amount to 4.4% from the lows on August 8.
Powell’s commentary at the Jackson Hole Symposium last Friday added further bearish pressure on the dollar as he all but...
The US dollar has been unable to regain the upper hand against the Japanese yen since the US data started to show signs of weakness back in early July. USD/JPY remains over 10% lower from the highs on July 11 despite having bounced off the August 5 lows.
In the grand scheme of things, the pullback has been marginal given the pair remains 40% higher than the...
Welcome to Part 2 of our three-part series on Volume Profile Analysis. While traditional support and resistance analysis focuses on the visible extremes of price action, Volume Profile Analysis offers a unique advantage: the ability to uncover hidden pockets of volume that may act as strong, yet concealed, levels of support or resistance. These levels are often...
