Gold has been trending lower amid growing risk appetite with stocks surging higher.
With no big bearish catalyst in sight for stocks, the market mood is optimistic and that means the pressure on gold is growing for a drop. The big macro driver has been a thaw in US-China trade tensions. With tariff rollbacks on both sides and negotiations showing real progress,...
1.1200 is the key level to watch for traders, with price action around it likely to provide better guidance than the barrage of conflicting macro takes doing the rounds right now. If the price remains below it, establish shorts with a stop above it for protection, and vice versa if the opposite occurs.
Even with Tuesday's snapback, the edge still leans slightly...
Price marked an outside-weekly reversal off key support last week with USD/CAD rallying more than 1.9% off the lows. The advance is now testing initial resistance hurdles at 1.3962/97 - a region defined by the 52-week moving average, the 2022 swing high, and the 23.6% retracement of the yearly range.
The immediate focus is on a reaction off this mark with key...
Over the past five trading sessions, the EUR/JPY pair has climbed nearly 2% in favor of the euro, once again reaching a key resistance zone in the short term. For now, the bullish bias remains intact, driven by the weakened yen, which has lost demand in recent sessions. As a safe-haven currency, the yen has struggled to hold investor interest as trade tensions...
The GBP/USD sold off Monday on the back of the US-China trade truce, which lifted the dollar. Today, we saw a rebound in major currency pairs including the cable. But was Monday's price action following the weekend developments a game changer?
I think it was, and feel the US dollar has more room to the upside. For that reason, I am expecting the GBPUSD to hold...
As shown in chart above, price action is hovering near the neckline of a well-defined double top pattern, formed between December 2024 and February 2025, similarly across the Dow and SPX500 charts.
This reinforces a key resistance zone that could either validate a more sustainable bullish outlook into 2025 — or trigger another correction if rejected.
Nasdaq...
In line with the inverted head and shoulders formation seen on the DXY from its 2025 lows, EURUSD has completed a breakout of its own head and shoulders pattern, reaching the 1.1070 target.
With the 4H RSI rebounding from oversold territory, a bullish bounce for EURUSD appears likely toward the 1.1140 level.
A clean hold above this resistance could extend gains...
GBP/JPY has been on a run with more than 1,000 pips gained on the pair from the April 9th low around the 185.00 handle. There's been a few different clean setups, as well, such as the ascending triangle when the 190.00 level was holding as resistance, and then support.
The BoJ rate decision helped to prod JPY weakness and then there's been widespread...
Along with other risk assets, crude oil has had a positive day, albeit a much quieter one compared to the major indices. It has been held back in part by the dollar also finding good support. So, I think a large part of the rally today in WTI is just a function of the market pricing in higher demand because of lower tariffs. Thus, it is the removal of a bearish...
News of a preliminary trade agreement between the U.S. and China fueled a rally of more than 1.1% in the US Dollar with the index surging into confluent downtrend resistance today at 101.77/92 - a region defined by the objective September high and the high-day close (HDC). A topside breach / close above this threshold is needed to suggest a more significant low...
Gold fell nearly 2.5%, retesting its rising trendline and the 50-day SMA near $3,180 after failing to hold above $3,400:
📉 RSI dipped to 49, showing fading momentum but not yet oversold
📊 MACD is crossing lower, suggesting weakening bullish pressure
🟦 Key support:
Rising trendline and 50-day SMA near $3,180
Further downside could target $3,050
📈 Bulls want to...
USD/JPY surged nearly 2%, breaking above both its 50-day SMA and short-term downtrend line, signaling a potential trend reversal:
📈 Strong bullish candle, clearing the 146.50–147.50 zone
📊 RSI climbing through 60, showing accelerating bullish momentum
📉 MACD crossing the zero line, reinforcing the bullish signal
🔺 Next upside targets:
149.35 = 50% Fib...
EUR/USD is breaking down after failing to hold the 1.1200 resistance level. The pair is now testing support at the 50-day SMA near 1.1110, with momentum clearly shifting bearish:
📉 MACD has rolled over into negative territory
📊 RSI at 43 and trending lower
🔵 Next support zone: 1.1040 (38.2% Fib of March–April rally)
🔵 Further levels to watch:
1.0875 = 50%...
EUR/USD bears took another step forward to start the week and at this point the structure on the four-hour chart remains clean, with a fresh lower-low to go with the recent build of lower-highs. The weekly chart looks similarly toppy as the pair is now working on its fourth consecutive weekly loss, following the shooting star formation that showed up in...
It's a fast start to the week for the FX market and the U.S. Dollar recovery has shifted into another gear. CPI data headlines this week's economic calendar and that can certainly carry some punch, but the past two weeks have been big for USD/JPY with rate meetings out of both Japan and the U.S., with the net being a massive move in the pair after the test at...
Nasdaq 100 futures have gapped higher upon the Asia market open, leaving them sitting above the important 200-day moving average. With momentum indicators like RSI (14) and MACD generating bullish signals, it’s an environment that favours buying dips and topside breaks.
However, the coast is not entirely clear for bulls with the price struggling to take out the...
EUR/USD lost a really big level this week when bears pushed through the 1.1275 Fibonacci level. This is the 61.8% retracement of the 2021-2022 major move, and that price was the swing high in 2023. More importantly for the past three weeks that level was support for EUR/USD, both before and after the failed run at the 1.1500 handle.
This move has been a big part...
USD/JPY has been tricky this year as the pair has brewed several bear traps and there's even been some bull traps along the way. Trading breakouts in a market like that can be even more frustrating than usual, as a case in point the 140.00 test from a few weeks ago was a brutal false breakout that then led to a 500+ pip reversal.
Last week's Bank of Japan...
