EUR/AUD looks heavy and vulnerable to downside following Friday’s bearish engulfing candle, leaving the price teetering just above 1.7184—the blow-off top high from August last year.
A break below 1.7184 could encourage bears off the sidelines, creating a setup where shorts may be established beneath the level with stops above for protection. EUR/AUD has tended...
By the end of the week, Nvidia's stock has surged to $120 , with the strong bullish movement likely driven by positive results from its largest supplier. Taiwanese company Hon Hai Precision Industry (Foxconn) reported revenues exceeding $30 billion and announced plans to establish the world's largest chip manufacturing plant in Mexico, aimed at improving supply...
GBP/USD came very close to a 1.3000 test last week but fell a bit short. To be sure, the bullish breakout in Cable lacks in size and scope to that of the Euro, but with an oversold US Dollar showing potential for pullback, that highlights the possibility of pullbacks in GBP/USD and EUR/USD, as well.
In Cable, there's a couple of clear spots of support potential,...
EUR/USD strength continued through the early part of the week, but a big level came into play that ended up holding the high at 1.0943. That's the 50% mark of the 2021-2022 major move, and it's related to the 1.0200 level that came in to hold support in February, leading to a stall in the sell-off that month that pushed into a bullish breakout in March.
Bulls...
Bitcoin is attempting to stabilize after finding support at the lower boundary of a well-defined descending channel. The price has rebounded +5.44%, climbing back toward the $85,000 level, but remains below the 50-day SMA (94,968), which has acted as dynamic resistance.
Despite today's bounce, BTC remains in a broader downtrend, with both the MACD and RSI showing...
Silver prices have been climbing steadily, finding support above the 50-day SMA (31.58) and 200-day SMA (30.60), signaling a strong uptrend. The metal is now approaching a major resistance level at $35.00, which previously triggered a sharp pullback.
Momentum indicators are supportive of the rally, with the MACD ticking higher in positive territory and the RSI at...
USD/JPY pair has been trending lower in a well-defined descending channel, respecting its upper and lower boundaries. Price action recently tested the 61.8% Fibonacci retracement level (146.95), where a mild rebound is now taking shape.
Despite this, the 50-day SMA (152.84) and 200-day SMA (152.01) remain above price, acting as resistance levels should a reversal...
Ahead of the UoM consumer sentiment data, the US dollar remains on the backfoot, after this week's weaker inflation data and last week’s sharp decline.
The EUR/USD has been among the strongest currencies out there, driven largely by Germany’s ambitious spending plans. Chancellor-in-waiting Friedrich Merz is racing against time to persuade parliament to approve a...
The strong bearish trend for USD/CHF stalled this week, with buying support emerging beneath .8774, continuing the pattern seen in December. The net result has been a grind higher before running into resistance at .8854, forming what resembles a bear flag on the charts. That should put traders on alert for a potential downside break and resumption of the bearish...
Gold finally ended weeks of consolidation to break to new record highs today.
It is now looking increasingly likely to reach and potentially surpass the $3,000 level in the coming days. The US dollar continues to remain largely under pressure and with yields declining and stock markets volatile, it remains an overall positive environment for the safe-haven...
Amid declining economic confidence and economic growth forecasts, stimulated by expanding trade wars, the Nasdaq has reached the double top pattern target formed between the December 2024 and February 2025 peaks at 19,100.
This level also aligns with the 0.618 Fibonacci retracement of the uptrend from the August 2024 low (17,230) to the February 2025 high...
Hang Seng Tech futures look like they’re running out of rocket fuel after the recent surge, hinting that a fresh catalyst may be needed to recalibrate the trajectory higher. That could mean a pullback before another move up.
Price, oscillators, and volumes have rolled over in unison, putting the uptrend established in January firmly on the radar. It’s found today...
Silver looks great on the charts, closing above $33 for the first time since late October. Previously, this was like a graveyard for bullish raids, putting increased emphasis on the price action over the next few days.
Whether you’re talking price or momentum signals, they suggest this break may stick where others failed, putting a potential retest of the October...
The pair has been rising for the last five sessions, gaining approximately 1.4% , as expansionary policies in European countries have restored confidence in the euro. In contrast, the U.S. dollar continues to struggle with maintaining consistent demand due to the ongoing tariff battle led by the White House.
Accelerated Movement:
Since March 3rd, EUR/USD has...
ASX 200 SPI futures are so oversold on the daily timeframe that you can’t help but notice, especially when looking back over recent years. The only time an RSI reading this low didn’t spark some form of bounce was during the height of the pandemic panic in early 2020.
But being oversold alone isn’t enough to trade against the prevailing strong bearish trend,...
Over the last six trading sessions, the USD/MXN price has dropped more than 3.5% as the Mexican peso has regained ground lost due to the ongoing conflict between Mexico and the White House. For now, the bearish bias has been driven by the March 6th extension on the tariff imposition, which gave the Mexican government a reprieve until April 2nd. This has allowed...
In yet another striking move, US President Donald Trump has just announced plans to double tariffs on Canadian steel and aluminum, raising them from 25% to a hefty 50%. The new tariffs are slated to come into effect this Wednesday, with Trump citing Canada's intention to impose tariffs on electricity exports to the US as the catalyst for this decision. This latest...
The break of uptrend support dating back to the start of the artificial intelligence (AI) frenzy in early 2023 may embolden Nasdaq 100 bears to seek a far larger downside unwind than what’s already been seen. Coming on the back of last week’s disintegration of the 200DMA—and with valuations still stretched relative to historic averages while competition in the AI...
