This week has been the third consecutive week of gains for DXY and this comes in stark contrast to the bearish trend that drove price in early-April trade. This week was of course a lift from the FOMC rate decision, and next week brings inflation back to center-stage with the Tuesday release of CPI.
In DXY, we've only seen a mere 23.6% retracement of the 2025...
Over the past two trading sessions, oil has gained more than 4.5%, and is once again approaching the psychological barrier of $60 per barrel. This recent bullish movement persists despite OPEC+’s clear stance on increasing supply in June and the International Energy Agency’s (IEA) cautious outlook on global oil demand for the remainder of the year. As such, it...
Based on the fact that equity markets have surged higher amid trade optimism, one would have expected gold to head lower. Well, it did fall in the last couple of days but it was trading near the session highs at the time of writing, up more than 1.1% on the session. The US dollar had weakened after staging a rally the day before, while the situation between India...
Dow futures cleared not only the 200DMA on Thursday but also downtrend resistance dating back to the record highs set in February, suggesting a new trend may now be underway. While the initial rejection at 41787 warrants some caution, with momentum indicators swinging into bullish territory, there’s enough here to consider long setups heading into this weekend’s...
USD/CAD rebounded off the lower parallel of the March downtrend with a breakout of the weekly opening-range extending into pivotal resistance.
Support now rests with the low-day close (LDC) / 61.8% retracement of the December 2023 advance / monthly open at 1.3778/98- a break / close below this threshold would be needed to mark downtrend resumption towards the...
The U.S. index has been gaining more than 2% in recent trading sessions, and the bullish bias has remained intact since the Federal Reserve’s decision during yesterday’s session. The central bank once again opted to keep the interest rate steady at 4.5%. However, according to some comments, Chairman Powell mentioned that the economy is approaching a point where it...
EUR/USD has extended more than 2.6% off the yearly highs with tight monthly & weekly opening-ranges preserved heading into today’s FOMC rate decision. The focus is on a breakout of the 1.1275-1.1420 range.
EUR/USD continues to trade within the confines of a descending pitchfork extending off the monthly highs. Initial support rests with the 2023 swing high at ...
Over the last five trading sessions, Nvidia’s stock has gained more than 9%, and short-term bullish momentum remains intact as the tech giant appears to benefit from expectations of a potential easing in trade war tariffs. Notably, the company’s CEO, Jensen Huang, recently stated that the Chinese market for artificial intelligence chips could reach $50 billion...
Sterling finds itself walking a financial tightrope this week. The GBP/USD is delicately poised between transatlantic central bank decisions and murky trade headlines. As the Federal Reserve holds court across the pond and the Bank of England gets ready to show its hand, traders are bracing for a possible divergence in tone—and in policy. The dollar has taken a...
How EUR/AUD interacts with the 50DMA in the near-term may offer a useful steer on directional risks over the medium-term. For now, it’s bounced off the level, finding buyers after the initial disappointment from China’s latest support measures. Still, the long topside wicks on the past two daily candles, coupled with increasingly bearish momentum, suggest downside...
Ford's stock gained more than 5% in the latest session after the company’s earnings were released following the close of yesterday’s trading. For now, investor confidence remains strong, as the company reported earnings of $0.14 per share, significantly beating expectations of $0.02, and revenue of $37.42 billion, above the estimated $36.21 billion.
In addition,...
US stocks trimmed their earlier losses after the Trump administration delivered the latest dose of jawboning. This time it was trade secretary Scott Bessent, saying trade negotiations with several partners are going well and that there is a possibility of “substantial reduction” in tariffs on US goods. He added some deals could be announced as early as this week....
USDJPY remains above the 0.618 Fibonacci retracement zone at 139, stemming from the uptrend between January 2023 (127.20) and July 2024 (162.00).
However, the pair is currently trading below resistance at 146, steering the trend back toward key support levels at 142 and 139.
A decisive break below 139 could expose new 2025 lows near 138.30 and 134.60, both key...
Gold is currently testing the 0.618 Fibonacci retracement of the drop from $3,500 to $3,200, located at the $3,380 level.
A clear hold above 3390 could pave the way back toward $3,430 and the $3,500 resistance zone.
• A breakout above $3,500 may extend the rally toward $3,700 and the $4,000 target zone.
• On the downside, short-term support levels may be seen...
Gold delivered a powerful signal pointing to a resumption of the bullish trend, completing a morning star pattern that saw it break out of the falling wedge it had been trading over the past fortnight. It would have been nice to catch the initial move, but all is not lost after the price broke above $3367 on Tuesday.
The price has run hard, so I’m reluctant to...
Euro is off more than 2% from the yearly high with EUR/USD carving the weekly opening-range just above multi-month uptrend support. From a trading standpoint, rallies would need to be limited to Friday’s high IF price is heading lower on this stretch with a break below the lower parallel exposing eh 2024 high at 1.1214 and 1.1160- both levels of interest for...
In today’s session, BTC has once again posted a decline of over 2%, as the previous bullish bias struggles to break through the $95,000 resistance level. The neutrality forming on the chart around this zone reflects the uncertainty in market sentiment, which is also evident in the Crypto Fear and Greed Index, currently oscillating in the neutral range at 45...
In contrast to EURUSD, the GBPUSD chart reflects a double top or flat rather than a head-and-shoulders pattern. However, unlike DXY and EURUSD, GBPUSD hasn’t broken below its neckline, maintaining a bullish bias as RSI continues to show positive momentum.
• Upside Scenario : If the pair breaks above the 1.3345 high, the next targets are 1.3380, 1.3400, 1.3440,...
