Technical Analysis
On the hourly chart, AUD/CAD is attempting to complete a short-term bullish reversal pattern that began forming after the pair established a base at the psychological level of 0.90000. Buyers have successfully pushed the price above the resistance at 0.90189, gaining proximity to the 100-period moving average—a key area of interest.
A sustained...
Market Overview
The British Pound surged to a four-and-a-half-month high against the US Dollar on Tuesday as expectations grew that the Bank of England (BoE) would refrain from cutting interest rates later this week. Meanwhile, Sterling weakened against the Euro, driven by optimism surrounding Germany’s stimulus plans. The Euro’s strength has contributed to a...
On the four-hour chart, EUR/AUD has successfully broken above its previous downtrend and now trades above the 100-period moving average, reinforcing a short-term bullish outlook. Buyers have managed to clear the 1.65192 resistance level, extending the rally toward the 127.2% Fibonacci extension of the latest bearish swing at 1.65433. A sustained break above this...
GBP/CAD remains under pressure as investors brace for BoE’s rate decision and guidance on future cuts. A break below 1.78432 would confirm further downside, while a recovery beyond 1.79110 could delay further declines. The policy outlook from Governor Bailey remains the primary driver of GBP’s next move.
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China responded with retaliatory tariffs on US imports, announcing 15% duties on coal and liquefied natural gas (LNG) from the US, alongside 10% additional tariffs on crude oil, agricultural equipment, and automobiles. This deterioration in global trade relations has weakened commodity-linked currencies, particularly the Australian dollar, as China remains its...
The Japanese yen continues to strengthen against the British pound, benefiting from its safe-haven appeal as trade tensions escalate. Increasing speculation over potential US trade tariffs on the UK and the European Union has heightened uncertainty, prompting investors to seek refuge in low-yielding, risk-averse assets such as the yen.
Technical Analysis
On the...
Market Overview
The Federal Reserve is widely expected to keep interest rates unchanged. Meanwhile, the Bank of Canada is projected to reduce its benchmark interest rate by 25 basis points, bringing it down to 3.00%. The pace of easing from the BoC remains a focal point, as a more aggressive rate-cut cycle in Canada could further widen the interest rate...
The pound remains in a corrective phase against the dollar, with sellers testing key support levels. While the broader uptrend remains intact, a break below 1.24255 would signal deeper corrections. Conversely, a move above 1.25227 would reaffirm bullish momentum.
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The AUD/JPY pair remains under bearish pressure, with sellers eyeing a sustained break below critical support at 97.700. While technical indicators confirm the dominance of downward momentum, upcoming economic events in both Japan and Australia could introduce volatility, potentially influencing the pair's trajectory.
Key Technical Levels
• Resistance Levels:...
The USD/CHF pair remains positioned for further gains, contingent on a successful breakout above 0.90695. Positive momentum indicators and supportive fundamentals strengthen the case for buyers.
Investors are keenly awaiting the release of the U.S. ISM Services PMI for December. Market expectations suggest an increase from the previous reading of 52.1 to 53.3....
Technical Outlook
The NZD/USD pair has resumed its downtrend following a brief consolidation phase. Sellers have aggressively pushed the pair toward the most recent low at 0.58217. A confirmed break below this level could open the door for further declines, with immediate support targets at 0.58177, 0.58126, and the psychological threshold of 0.58070.
The...
Technical Analysis
The S&P 500 cash index, depicted on its daily chart, has extended its record-breaking trajectory by decisively breaching the prior resistance level of 6,031.24. This movement has prolonged the established bullish trend, guiding prices towards a critical resistance level at 6,110.21, corresponding with the 141.40% Fibonacci extension. A...
Technical Analysis
The GBP/AUD pair currently exhibits a downside bias, underpinned by the confirmed head and shoulders pattern. If buyers fail to overcome resistance at 1.95451, further declines towards the outlined support levels are likely.
Key Events to Watch
While Tuesday does not feature any major scheduled events specifically impacting GBP/AUD, market...
Technical Analysis
On the four-hour chart, EUR/AUD is currently fluctuating between the key resistance level at 1.62219 and the support level at 1.61695. Sellers are attempting to push the price below this critical support level. If they succeed, it could lead to further declines, targeting the next support levels at 1.61322, 1.61127, and eventually 1.60847.
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Market Overview
On Wednesday, 27th November 2024, CAD/CHF found itself under significant bearish pressure, primarily driven by contrasting economic developments in Canada and Switzerland.
Technical Analysis
From a technical perspective, the daily chart of CAD/CHF reveals bearish momentum taking over after price bounced off a mid-term descending trendline. Price...
Technical Analysis
In the hourly timeframe, gold's decline from the higher €2600 range to current levels around €2499.52 has been pronounced. The downtrend is confirmed by strong selling pressure, with the price breaking below the 100-period weighted moving average (WMA). Gold remains firmly within the lower half of the Bollinger Bands, suggesting persistent...
Technical Analysis
The daily chart of CHF/JPY reveals a bearish break of the recent ascending trendline. This breakdown indicates weakening bullish momentum and raises the likelihood of a potential bearish reversal. Additionally, the widening of Bollinger Bands suggests increased volatility, with the price trading in the lower half of the bands, signalling...
The euro faces headwinds due to sluggish economic growth and rising joblessness across the Eurozone, while Switzerland's stable conditions position the franc as a strong safe-haven currency. This disparity supports ongoing downward pressure on EUR/CHF, with the Swiss franc gaining strength in light of broader market uncertainties.
Technical Weakness in EUR/CHF...
