EUR/USD has now tested the 1.0500 level for each of the past five trading days. Bulls haven't exactly taken-over as they haven't been able to drive a strong breakout, but there has been a drying up of bears as each of the past five days have also brought higher-lows, which extends a sequence of higher-lows that's built in the pair so far in February.
The 25%...
The AUD/USD has fallen about 0.5% on the session, making it among the weakest of currency pairs so far in today's session. We had some weaker data from Australia overnight in the form of CPI, coming in at 2.5% vs. 2.6% eyed, and construction work done was half the expected rate at 0.5% q/q.
The focus will turn to the US side of the equation as we head deeper into...
Traders should be alert to the growing risk of a downside move in gold.
Bullish momentum underpinning the rally has weakened over recent weeks, alongside shaky price action.
RSI (14) has diverged from price, setting lower highs even as the latter briefly hit record levels. The bearish momentum signal has been confirmed by MACD, which has turned lower...
Gold has been on a relentless tear, climbing within a well-defined rising channel since early January. But after touching $2,950, the rally has finally hit turbulence, with prices pulling back sharply to $2,895 (-1.94%).
Is this just a healthy correction, or is the yellow metal gearing up for a deeper decline?
🔍 The Setup – A Near-Perfect Rally Faces Resistance...
📉 EUR/JPY edges lower to 156.38 (-0.22%) as sellers pressure key support.
🔎 Technical Setup:
156.00 major horizontal support holding for now.
Bearish bias intact below 50-day EMA (160.08) & 200-day EMA (161.87).
Break below 156.00 could open downside toward 152.50-153.00.
📊 Momentum Indicators:
RSI at 36.62 → Not oversold yet, but approaching key levels.
MACD...
📉 BTC/USD plunges -5.48% to 86,539, breaking below 91,000 support
🔎 Key Technical Breakdown:
Massive rejection at 91,000, flipping it into resistance.
Price is now testing the 200-day EMA (85,641) → Crucial for short-term trend.
Fib retracement levels:
38.2% @ 86,672 (in play now)
50.0% @ 79,616 (next major support)
61.8% @ 72,559 (deeper pullback scenario)
📊...
Bitcoin has registered a decline of more than 4% over the past two trading sessions, and for now, the bearish bias remains strong.
This downward pressure is fueled by major security breaches on the Bybit exchange, where approximately $1.4 billion in funds were stolen. This event has eroded confidence in Bitcoin, leading to sustained selling pressure in the...
Introduction to ABCD Patterns
The ABCD pattern is a tool in technical analysis that measures up and down moves within a trend. It consists of three consecutive price swings, forming a very specific shape as shown on the chart above. Note that the dark solid line on the chart above is the ABCD pattern while the dotted lines are retracement measurements. The ABCD...
The S&P 500 has bounced off its earlier lows in the last couple of hours, after dipping to take out liquidity below Friday's low (6011) and key support around 6000. Where do we go from here?
On Friday, the index tumbled sharply to close near the lows. Whether that marked a near-term market top remains to be seen. A downside follow-through would attract selling...
EUR/JPY is teetering above known support, but with momentum favouring the bears, there’s no need to rush into longs.
If the pair continues find buyers on dips below 156.21, a long trade could be considered above the level with a stop beneath for protection. 158 looms as an initial target, with 159 and 161 other levels to watch.
The preference is to wait for a...
the USD/JPY pair remains a market that could have implications across other markets, similar to what we saw last summer when the initial stages of the unwinding carry trade drove a global equity sell-off. In that episode USD/JPY lost a little more than 2,000 pips and this caused strong bearish moves in U.S. equities, particularly the high-flying large cap tech...
While EUR/USD continues to battle it out at 1.0500 as it has for a couple of months now, GBP/USD ran up to a fresh two-month-high last week. This could make the pair as possibly more attractive for USD-weakness scenarios given that continued build of higher-highs and lows on the four-hour chart.
Price is nearing a support level at the Fibonacci retracement...
It's been a grinding month of February so far but the big takeaway at this point for EUR/USD has been deductive in nature, and that's the fact that sellers haven't been able to break any fresh ground below the January low.
Early-Feb saw the threat of tariffs drive a spike-low in the pair, but that held above 1.0200, and then as the tariff threat seemed to recede...
The US markets wobbled at the start of Friday’s session, with major indices pulling back. However, the outlook isn’t overly bearish yet, as the S&P 500 is testing a key level here around 6075. A bounce into the close is still possible from here, but the bulls need to show and quickly.
Even if the index closes near current levels, it wouldn't necessarily signal...
Australian ASX 200 SPI futures were firmly rejected at the 50-day moving average earlier Friday, reinforcing the message that sellers remain in control following the bearish break of uptrend support flagged earlier this week.
With RSI (14) and MACD both firmly bearish, the near-term bias remains to sell rallies and downside breaks.
If the price squeezes back...
WTI crude oil has rebounded to the $72.50 zone over the past four trading sessions, primarily after a recent drone attack by Ukrainian forces that damaged a key pipeline in southern Russia. The estimated damage could reduce oil exports from this region by up to 30% for at least two months. This new unexpected supply disruption has supported short-term demand for...
📉 False Breakout or Consolidation?
S&P 500 hit 6,129 but failed to hold above it, retreating to 6,090 (-0.75%).
This level marks a key resistance zone, with sellers stepping in to cap gains.
🔍 Key Technical Levels:
Resistance:
6,129 → Previous high, acting as a short-term ceiling.
Support:
6,018 (50-day EMA) → First area bulls want to defend.
5,900 → Stronger...
📈 Gold Extends Gains in Strong Uptrend
Gold (XAU/USD) is trading at $2,938, continuing its rally within a well-defined ascending channel (orange lines).
Price remains above both the 50-day EMA ($2,776) and 200-day EMA ($2,576), reinforcing bullish momentum.
🔍 Key Technical Levels:
Resistance:
$3,000 → Psychological level, upper bound of the...
